AquaBounty Technologies, Inc. (AQB) Reports Q2 Loss, Tops Revenue Estimates

Core Viewpoint - AquaBounty Technologies, Inc. reported a quarterly loss of $1.56 per share, which was worse than the Zacks Consensus Estimate of a loss of$0.93, indicating a significant earnings surprise of -67.74% [1] Financial Performance - The company posted revenues of $0.18 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 80$0.79 million in the same quarter last year [1] - Over the last four quarters, AquaBounty has surpassed consensus revenue estimates two times [1] Stock Performance - AquaBounty Technologies shares have declined approximately 41.7% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.89 on revenues of$0.1 million, and for the current fiscal year, it is -$4.86 on revenues of$0.75 million [4] - The estimate revisions trend for AquaBounty is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Medical - Biomedical and Genetics industry, to which AquaBounty belongs, is currently in the top 37% of over 250 Zacks industries, indicating a favorable industry outlook [5] - Another company in the same industry, Iovance Biotherapeutics, is expected to report a quarterly loss of $0.37 per share, with revenues projected at$22.59 million, reflecting a significant year-over-year increase of 9310.4% [5][6]