NeuroMetrix shares down on 2017 earnings miss

NeuroMetrix (NSDQ:NURO) saw shares dip today after it released 2017 earnings that missed analyst’s expectations, despite posting fourth quarter earnings that beat consensus.

For the three months ended Dec. 31, the Waltham, Mass.-based company posted losses of $2.9 million on sales of $4.9 million, seeing its losses grow 2.3% while sales grew 32.7% compared with the same period during the previous year.

Sales numbers were just ahead of the $4.2 million consensus on Wall Street for the fourth quarter.

For its full 2017 year, NeuroMetrix posted losses of $12.9 million on sales of $17.1 million, seeing its losses shrink 13.8% while sales grew 42.1% compared with 2016.

Full year revenue was just off of the $17.8 million analysts on The Street expected to see from the company.

“Our revenue growth in Q4 and full year 2017 reflects strong Quell unit volume growth throughout the periods. It continues the upward trend of the past two and a half years since Quell launch in Q2 2015. We are pleased to begin our partnership with GSK Consumer Healthcare. This will expand access to Quell technology among chronic pain sufferers around the world while we continue to focus on building Quell into a leading U.S. consumer healthcare brand. It will also strengthen our capital structure,” prez & CEO Dr. Shai Gozani said in a press release.

Shares in NeuroMetrix have fallen approximately 8.1% so far today, at $1.80 as of 11:07 a.m. EST.

The post NeuroMetrix shares down on 2017 earnings miss appeared first on MassDevice.

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