The ShiftPixy earnings report was supposed to be available yesterday, but due to undisclosed reasons, the company’s Q3 earnings disclosure was delayed. Usually, this sort of thing would upset investors, and cause the stock to drop. But the opposite happened for the California-based company.
ShiftPixy Earnings Report: Delayed but It’s OK
ShiftPixy, which is a scheduling platform, was supposed to post its earnings after the closing bell on Thursday. As we know now, this was delayed, and the company failed to provide a reason.
Instead of this upsetting investors, however, they looked to the ShiftPixy’s preliminary earnings, which were released to the public. This isn’t always the case, but for ShiftPixy, its preliminary earnings were enough to grab the attention of investors and send the stock up. As a matter of fact, the ShiftPixy stock is a Yahoo Finance trending ticker of the day.
ShiftPixy Preliminary Earnings
Here’s what we know:
- ShiftPixy saw a preliminary loss of $0.06 per share on $9.4M revenue. This is compared to last year’s loss of $0.11 per share on $4.6M revenue
- ShiftPixy forecasts that its billings will hit $60.2M
The ShiftPixy Stock (NASDAQ:PIXY): July 13, 2018
According to Google Finance, at 3:17 p.m., the company was trading at $4.77 on the Nasdaq. This means the ShiftPixy stock was up 73.77% at the time.
The Company
For those who don’t know, ShiftPixy is a scheduling platform and provides various services solutions for both businesses and workers. Founded in 2015, and based in the United States, ShiftPixy is led by CEO Scott W. Absher.
Over the past few months, ShiftPixy has seen quite a bit of success, which may be another reason as to why investors were not as upset about the company delaying its third-quarter earnings report.
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On May 31, the company announced the Chicago expansion. A week or so later, ShiftPixy disclosed that it had closed a $9M private placement offering.
ShiftPixy Earnings Report: The Takeaway
What do you think about the delay of the ShiftPixy earnings report? Do you think something happened? Or, do you think investors aren’t worried about the delay, and still expect good things?
Featured Image: Twitter
