Cloudastructure (NASDAQ:CSAI) Posts Quarterly Earnings Results

Cloudastructure (NASDAQ:CSAI) posted its quarterly earnings data on Friday. The company reported ($0.14) earnings per share for the quarter, Zacks reports. The company had revenue of $1.31 million for the quarter. Cloudastructure had a negative return on equity of 109.93% and a negative net margin of 166.26%.

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

• Cloudastructure reported Q1 revenue of about $1.3 million, up 78% year over year, with management saying demand remains strong across both new wins and expansion within existing accounts.
• The company highlighted growing traction in its recurring subscription and remote guarding revenue, with gross profit up 115% year over year as the business mix continues to shift toward higher-margin recurring revenue.
• Management said it now serves 8 of the 10 largest multifamily property managers in the U.S. and is seeing a “land and expand” pattern where small initial deployments are turning into broader portfolio rollouts.
• The company announced its first large-scale entry into retail through a Master Services Agreement with a national retail REIT, covering three initial properties with potential expansion to 36 shopping centers.
• Management addressed a technical accounting classification issue tied to Series 1 and Series 2 preferred stock, saying it had no impact on cash, assets, or operations and has since been resolved through an amendment to the Series 2 terms.

Cloudastructure Trading Down 28.6%

NASDAQ:CSAI opened at $0.30 on Friday. Cloudastructure has a 12-month low of $0.25 and a 12-month high of $2.31. The stock’s 50 day simple moving average is $0.41 and its 200-day simple moving average is $0.59. The firm has a market cap of $7.45 million, a P/E ratio of -0.55 and a beta of 1.01.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cloudastructure in a report on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Trading of Cloudastructure

A number of institutional investors have recently modified their holdings of CSAI. Geode Capital Management LLC lifted its stake in shares of Cloudastructure by 27.3% during the 4th quarter. Geode Capital Management LLC now owns 196,921 shares of the company’s stock worth $159,000 after purchasing an additional 42,204 shares during the period. Two Sigma Investments LP boosted its stake in shares of Cloudastructure by 104.6% during the 3rd quarter. Two Sigma Investments LP now owns 93,722 shares of the company’s stock valued at $118,000 after buying an additional 47,916 shares during the last quarter. State Street Corp raised its stake in shares of Cloudastructure by 26.0% in the 4th quarter. State Street Corp now owns 80,000 shares of the company’s stock valued at $64,000 after purchasing an additional 16,500 shares in the last quarter. Citadel Advisors LLC bought a new stake in Cloudastructure in the third quarter valued at about $64,000. Finally, XTX Topco Ltd bought a new position in Cloudastructure during the fourth quarter worth $39,000.

Cloudastructure Company Profile

Cloudastructure, Inc (NASDAQ: CSAI) is a technology company specializing in cloud-based video security and surveillance solutions. The company’s core offering is a subscription-based Video-as-a-Service (VaaS) platform that enables customers to deploy, manage and monitor high-definition cameras and environmental sensors through a unified cloud interface. By leveraging scalable cloud infrastructure, Cloudastructure eliminates the need for on-site video recording hardware and simplifies system maintenance and updates.

In addition to managed hardware, Cloudastructure provides advanced analytics capabilities powered by artificial intelligence and machine learning.