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Benzinga
Benzinga
Business
Shivani Kumaresan

Calyxt Posts 86% Decline In Q4 Revenue

  • Calyxt Inc (NASDAQ:CLXT) reported a fourth-quarter FY21 sales decline of 86% year-on-year, to $1.94 million, missing the consensus of $2.64 million.
  • The revenue decrease was driven by lower volumes of products sold in 2021 as the company had completed the wind-down of its soybean product line prior to the fourth quarter of 2021.
  • The operating expenses fell 18.5% YY to $6.6 million. The operating loss for the quarter narrowed to $(6.7) million versus $(13.1) million last year.
  • The company held $14.4 million in cash and equivalents as of December 31, 2021.
  • Adjusted EPS of $(0.19) beat the analyst consensus of $(0.41).
  • Price Action: CLXT shares closed at $1.06 on Thursday.
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