Overview

* Mawson's preliminary Q3 revenue falls 8% yr/yr, missing analyst expectations

* Company's Q3 gross profit rises 59% from 35% last year

* Mawson Q3 net loss down 88% yr/yr due to reduced costs and expenses

Outlook

* Company did not provide specific future guidance

Result Drivers

* COST REDUCTION - Mawson's Q3 cost of revenues decreased 42% yr/yr, aiding gross profit margin improvement

* PROFIT SHARE AGREEMENT - New profit share agreement contributed to increased gross profit in Q3

* EXPENSE MANAGEMENT - Reduction in operating and non-operating expenses lowered Q3 net loss

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $11.20 $13.70

Revenue mln mln (1

Analyst)

Q3 Gross $6.60

Profit mln

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the it services & consulting peer group is "buy."

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)