Earnings Performance1Q24 results included free cash flow above forecast, but revenue and EPS below estimates.
Revenue Decline1Q24 revenue of $1.5M, down 85.3% y/y was well below forecast primarily due to price competition in China for luxury vehicles.
Stock DilutionCTNT priced an offering at $0.62, raising proceeds of $8.2M, which was more dilutive than anticipated and below the closing price of $1.19.