Akoya Biosciences (AKYA) Reports Q1 Loss, Misses Revenue Estimates

Core Viewpoint - Akoya Biosciences reported a quarterly loss of $0.32 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.29, marking an earnings surprise of -10.34% [1] - The company has struggled with revenue, posting $16.64 million for the quarter, missing the consensus estimate by 16.32% and down from $18.35 million a year ago [2] Financial Performance - Over the last four quarters, Akoya has only surpassed consensus EPS estimates once [2] - The company has not beaten consensus revenue estimates in the last four quarters [2] - Akoya shares have declined approximately 52% year-to-date, compared to a -3.8% decline in the S&P 500 [3] Future Outlook - The company's earnings outlook is critical for investors, with current consensus EPS estimates at -$0.22 for the upcoming quarter and -$0.76 for the current fiscal year [7] - The estimate revisions trend for Akoya is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The Medical - Biomedical and Genetics industry, to which Akoya belongs, is ranked in the top 34% of Zacks industries, suggesting potential for better performance compared to lower-ranked industries [8] Industry Context - Precision BioSciences, another company in the same industry, is expected to report a quarterly loss of $0.43 per share, reflecting a year-over-year change of -22.9% [9] - Precision BioSciences' anticipated revenues are projected to be $10 million, down 43.1% from the previous year [10]