Earnings ExpectationsMost stocks reporting earnings traded lower due to high expectations, incremental spending, and tepid outlooks.
Revenue DeclineThe company reported a revenue of $2.7M, down 13% year-over-year, and an adjusted EBITDA loss of ($0.3M), both wider than analyst estimates.
ValuationsValuations have been reset downwards due to concerns on new capacity in India’s C&W sector.