Eyenovia, Inc. (EYEN) Reports Q2 Loss, Misses Revenue Estimates

Core Viewpoint - Eyenovia, Inc. reported a quarterly loss of $0.18 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.17, indicating a negative earnings surprise of -5.88% [1] Financial Performance - The company posted revenues of $0.02 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 98.33%, compared to zero revenues a year ago [2] - Over the last four quarters, Eyenovia has surpassed consensus EPS estimates only once [2] Stock Performance - Eyenovia shares have declined approximately 58.7% since the beginning of the year, contrasting with the S&P 500's gain of 12% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.18 on revenues of $1.6 million, and for the current fiscal year, it is -$0.76 on revenues of $5.03 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Eyenovia belongs, is currently ranked in the top 30% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Eyenovia's stock performance [5]