Streamex (NASDAQ:STEX) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Streamex (NASDAQ:STEX) posted its earnings results on Thursday. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06), FiscalAI reports. The business had revenue of $0.14 million for the quarter.

Here are the key takeaways from Streamex’s conference call:

• GLDY adoption increased: the company added 208 net ounces in Q3, outside ownership more than doubled to 17.7%, and a $1 million institutional allocation to a gold carry-trade fund has been funded. Management said it expects further inflows, but noted that institutional adoption is still at an early stage.
• Streamex expects GLDY to launch on Equity Trust’s IRA platform next week, which would make it the platform’s first tokenized asset; Equity Trust oversees about $73 billion in assets. The Cask Foundation has also begun bootstrapping liquidity for USGY, which could add GLDY AUM and servicing revenue, though its public launch depends on completing bootstrapping.
• Q3 net loss widened to $17.5 million, while GLDY income was just $145,000 for the quarter. Operating cash burn averaged $1.5 million per month, above the company’s target, and management’s goal of reducing it to $1.1 million–$1.3 million is not a forecast.
• The company ended Q3 debt-free with $36.5 million in total liquidity, down from $41.8 million at June 30; $16.5 million was physical gold backing GLDY, and $13.2 million was immediately available. In early November, Streamex invested $6 million of GLDY reserves in a fund with T+2 redemption, which it said raised immediately available liquidity to about $19.2 million.

Streamex Stock Performance

Shares of STEX opened at $0.29 on Friday. The company’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $1.14. Streamex has a 1 year low of $0.31 and a 1 year high of $4.76. The stock has a market capitalization of $34.24 million, a PE ratio of -0.03 and a beta of 2.24.

Insider Buying and Selling at Streamex

In related news, CIO Mitchell Williams sold 72,689 shares of Streamex stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $0.72, for a total value of $52,336.08. Following the completion of the transaction, the executive owned 2,885,814 shares in the company, valued at approximately $2,077,786.08. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 151,571 shares of company stock valued at $94,932 in the last ninety days. Insiders own 52.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of Streamex to $4.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Streamex in a report on Tuesday, October 27th. Wall Street Zen raised shares of Streamex from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Zacks Research upgraded Streamex to a “hold” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.00.

About Streamex

Streamex Corp. is a financial technology company focused on blockchain-based financial infrastructure and the tokenization of real-world assets. Its business is centered on developing digital platforms designed to connect traditional financial products with blockchain networks. The company’s activities include creating and supporting digital assets, blockchain applications and tokenized investment products. Streamex has described its work as serving institutional and other market participants seeking greater efficiency, transparency and accessibility in digital-asset markets.