Viomi Technology’s FY 2023 Results Miss Analyst Expectations, But What Should Investors Watch Out For?

Viomi Technology’s Full Year 2023 Earnings Fall Short of Expectations

Viomi Technology (NASDAQ: VIOT) reported its full-year 2023 results, with a revenue of CN¥2.49 billion, a 23% decrease from FY 2022. The net loss was CN¥84.7 million, which narrowed by 69% from the previous year. The loss per share was CN¥1.23, an improvement from CN¥3.97 in FY 2022.

However, the revenue and earnings missed analyst expectations, with revenue falling short by 12% and earnings per share (EPS) missing estimates by 140%. Looking ahead, the forecast predicts a 21% annual growth in revenue over the next two years, compared to a 5.1% industry growth forecast for Consumer Durables in the US.

The American Consumer Durables industry has seen a performance decline, with Viomi Technology’s shares dropping by 8.8% in just one week. Investors should be mindful of potential risks associated with investing in this company, as there are potentially two warning signs that investors should take note of.

Firstly, Viomi Technology has struggled to maintain profitability over the past few years, with their net loss increasing significantly from CN¥55 million in FY 2019 to CN¥84 million in FY 2023. This suggests that the company may have difficulty generating sustainable profits in the future and could be at risk of further losses if market conditions deteriorate or competition intensifies.

Secondly, Viomi Technology’s reliance on sales to China has been significant in recent years, accounting for over 80% of its total revenue in FY 2019 and FY 20

Sophia Reynolds

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