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Anusuya Lahiri

View Clocks 74% Revenue Growth In Q1; Reaffirms FY22 Forecast

  • View, Inc (NASDAQ:VIEWreported first-quarter FY22 revenue growth of 74% year-on-year to $17 million, beating the consensus of $15.1 million.
  • The continued traction of the newly introduced Smart Building Platform offering and the growth of Smart Building Technologies products drove the increase.
  • EPS loss of $(0.38) missed the consensus loss of $(0.24).
  • View held $200.5 million in cash and equivalents as of March 31, 2022.
  • Outlook: View reiterated FY22 revenues of $100 million - $110 million (consensus of $108.2 million), driven by volume growth, strong ASPs, and increased contribution from its Smart Building Platform and Smart Building Technologies products.
  • "We are pleased to announce our Q1 2022 results today, which show continued momentum in driving industry adoption of smart glass. The first quarter represented more than 70% year-over-year revenue growth and puts us on target to achieve our expected full-year revenue above $100 million for 2022," said Dr. Rao Mulpuri, CEO.
  • Price Action: VIEW shares traded lower by 0.26% at $1.88 on the last check Thursday.
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