Inpixon (NASDAQ:INPX) stock is climbing higher on Friday following the release of the indoor data company’s earnings report for the full year of 2022.
Let’s start off with the company’s adjusted earnings per share, which comes in at -$12.25. To put that in perspective, the company’s adjusted EPS from the prior year comes in at -$18.77 per share. That means it’s massive massive headway in reducing its losses.
To go along with that, the company’s revenue for the full year of 2022 is sitting at $19.4 million. That’s 21% better than the $16 million reported by Inpixon for the full year of 2021. It attributes this to an increase in Indoor Intelligence sales.
Nadir Ali, CEO of Inpixon, said the following about its earnings report:
“We completed 2022 with a 21% increase in revenue. We also implemented initiatives to reduce our operating expenses and overhead costs and remain actively committed to pursuing meaningful opportunities that will provide our shareholders with additional value.”
How This Affects INPX Stock
Investors are reacting well to the earnings report with strong pre-market trading of INPX stock. This has some 1.6 million shares on the move as of this writing. For the record, the company’s daily average trading volume is closer to 3.2 million shares.
Traders will also keep in mind that INPX is a penny stock. Its low price of 37 cents per share at close on Thursday, as well as its market capitalization, are reasons for this. That means it is susceptible to volatility.
INPX stock is up 24% in pre-market trading on Friday!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.