Some US analysts have a bullish outlook for the company which produces fast charging technology for electric vehicles. However, its debut on the Nasdaq has been weak. Its shares have joined a broad downward slide on the index, but it listed by analysts as a “strong buy”.
Information company Simply Wall St said Tritium was now looking at a growth rate of 58 per cent and analysts were tipping a $US50 million profit for the company in 2023. Some had forecast its shares to jump to $US17 from the current $US7.74.
Earlier this year, Tritium said it was expecting to report an EBITDA of $US39 million for 2021 after its second half revenue broke records. It expects electric vehicle sales to grow at a compound rate of 17 per cent.
For the three months ended December 31, 2021, Tritium booked revenue of about $41 million, equivalent to a last quarter annualized (LQA) run-rate of $164 million, and set a new quarterly record. It more than doubled its third quarter 2021 revenue, the next largest quarterly revenue in its 19-year operating history, and achieved more than 2.5 times revenue compared to the fourth quarter of 2020.
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