Why Sema4 Holdings Stock Is Crashing Today
Shares of Sema4 Holdings (NASDAQ: SMFR) are crashing today, down by 31.9% as of 11:08 a.m. ET. The steep decline came after the company provided its second-quarter update following the market close on Monday.
Sema4 reported Q2 revenue of $36.2 million, down from $47 million in the prior-year period. The company posted a net loss of $85.7 million based on generally accepted accounting principles (GAAP). Its adjusted net loss totaled $72.9 million, significantly worse than the adjusted net loss of $43.5 million in the prior-year period.
The company also lowered its full-year revenue guidance. Sema4 previously projected 2022 revenue of between $305 million and $315 million. It now expects full-year revenue will be between $245 million and $255 million.
Source Fool.com
