Small Cap Losers: TLMD, HNST, EAR
3:30 pm Friday, August 13th, 2021
Soc Telemed Inc (NASDAQ: TLMD) falls to new lows after reporting Q2 results. Total system-wide consults increased +98% yr/yr to 130,200, or +49% yr/yr on a pro forma basis, giving retroactive effect to the Access Physicians acquisition; bookings increased +136% yr/yr to $6.7 mln. Lowered its GAAP revs guidance to $90-92 mln from $97-103 mln, primarily in connection with pressure from the Delta variant on hospital emergency departments and a change in go-to-market strategy around hardware sales.
Honest Company Inc (NASDAQ: HNST) missed estimates for Q2 EPS and revs. Co’s revs grew +3% yr/yr; excluding an estimated $3.7 mln COVID-19 stock-up impact primarily in its Diapers and Wipes category in the prior-year period, revs grew +9%. Results were also impacted by a reduction of inventory on-hand by a key digital partner. Household and Wellness revs declined 6% yr/yr. The stock fell 27%.
Eargo Inc (NASDAQ: EAR) drops to record lows after co reported Q2 results; co topped consensus on revs and raised its FY21 revs guidance. Gross systems shipped increased +38.8% yr/yr. Non-GAAP net loss was $(14.1) mln vs $(6.1) mln in the prior-year quarter. Co also noted that it has acquired certain assets from web-based, self-administered hearing screening technology developer Clementine. The stock slid 23%.
