MoSys Inc. (MOSY) stock is facing negativity in the Wednesday, June 2, 2021, pre-market session. As of this writing, MOSY stock has lost 3.94% and trading at $6.10 per share. MOSY’s stock gained 20.72% to close Tuesday’s session at $6.35.In the last 12 months, MOSY shares have risen 304.46%, and they have moved up 51.19% in the past week. Over the past three months, the stock has gained 29.07%, while over the past six months, it has surged 326.17%.
Let’s try to find out the reasons behind its pre-market bashing and have a brief discussion on its recent developments?
Optimized P4 Pipeline Support
On May 17, 2021, MoSys, Inc added support for optimized P4 (Programming protocol-independent Packet Processors) pipeline acceleration to its Stellar Packet Classification Platform IP family. The solution, which is expected to be available to early access customers in Q3, 2021, can be easily integrated into P4 pipelines available from leading FPGA vendors.
Recent financial result announcement
On May 6, 2021, MoSys Inc reported its financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- MoSys reported net revenue of $1.3 million for Q1 2021, which is the same compared to the first quarter of 2020.
- The gross margin for the first quarter of 2021 was 63%, compared with 58% for the first quarter of 2020.
- Total GAAP operating expenses were $2.2 million for Q1 2021, compared with GAAP operating expenses of $2.1 million in the first quarter of 2020.
- The company suffered a GAAP net loss of $1.4 million, or $0.28 per share in Q1 2021, compared with a net loss of $1.4 million, or $0.61 per share, for the first quarter of 2020.
- Non-GAAP net loss for the first quarter of 2021 was $1.3 million, or $0.28 per share, compared with a net loss of $1.3 million, or $0.58 per share, for the first quarter of 2020.
- Adjusted EBITDA for the first quarter of 2021 was -$1.3 million, compared to negative $1.2 million for the first quarter of 2020.
- MoSys had cash and investments of $11.1 million as of March 31, 2021.
Expanding patent portfolio
On April 12, 2021, MoSys Inc expanded its patent portfolio by purchasing five patents in the area of search and classification algorithms.
Q4 and FY2020 financial results announcement
On March 4, 2021, MoSys Inc released financial results for the fourth quarter and the fiscal year ended December 31, 2020.
Q4 financial highlights
- MoSys reported total net revenue of $1.6 million for the fourth quarter of 2020 compared with $ $2.3 million for the fourth quarter of 2019.
- The gross margin for Q4 2020 was 68%, compared with 59% for the fourth quarter of 2019.
- Total GAAP operating expenses were $2.0 million in Q4 2020 which were the same in Q4 2019.
- The company suffered a GAAP net loss of $1.0 million, or $0.29 per share in Q4 2020 compared with a net loss of $0.7 million, or $0.31 per share, for the fourth quarter of 2019.
- Q4 2020 adjusted EBITDA was a negative $0.9 million, compared with a negative $0.5 million for the fourth quarter of 2019.
Well, as of this writing, there is no recent news or developments which could justify its poor start on Wednesday. MOSY stock may pick up the positive pace later today.