Fast Radius, Inc. (FSRD) Stock Plunged 24.88% Today, Here’s Why

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Fast Radius, Inc. (FSRD) stock plummeted 24.88% in the current-market trading session at the price of US$1.69 after reporting its financial results for Q4 and the year 2021.

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FARD is a leading digital supply chain and cloud manufacturing firm. The company delivers manufacturing solutions and software applications to assist engineers in designing and manufacturing commercial-grade tools.

FSRD Q4 2021 Financial Highlights

On 30th March 2022, FSRD published its financial results for the quarter and year ended 31st December 2021. The company has also delivered its corporate updates.

Revenue totaled US$6.4M for Q4 of 2021, representing a 52 percent gain from US$4.2M in Q4 of 2020. Net loss was US$22.9M, or per share of US$5.33, for Q4 of 2021. The company has a net loss of US$5.0M, or per share of US$1.39, in last year same quarter.

FSRD calculated US$17.5M in adjusted EBITDA (loss) for Q4 of 2021. Adjusted EBITDA (loss) totaled US$4.5M for the same quarter of 2020. Bookings totaled US$7M for Q4 of 2021, a gain of 80 percent compared to Q4 of 2020.

FSRD Year 2021 Earnings Report

FSRD has total revenue of US$20.0M for the year 2021. It represents a surge of 43 percent from US$14.0M last year. For 2021, bookings totaled $41M, representing a 199 percent gain from 2020. Cash and cash equivalents were approximately US$8.7M on 31st December 2021.

Net loss totaled US$67.9M, or per share of US$16.40, in the year 2021. The company had a net loss of US$21.7M, or per share of US$7.34, prior year. For 2021, the adjusted EBITDA (loss) was US$53.3M, compared to US$19.4M in 2020.

FSRD 2022 Outlook

For the year ended 31st December 2022, FSRD anticipates revenue to be from US$27M to US$32M. Adjusted EBITDA (loss) has expected to range from US$72M to US$65M in 2022.