EarningsThe company reported a net loss of $0.21 per diluted share, which was worse than the consensus estimate of a net loss of $0.16 per diluted share.
Operating ExpensesOperating expenses for the quarter were significantly higher than estimated, coming in at $5.8 million versus an estimate of $5.1 million.
Stock RatingThe stock rating was downgraded from Buy to Neutral, and the price target was significantly reduced from $3.00 per share to $0.95 per share.