iMedia Brands, Inc. (IMBI) gained in the current market after announcing preliminary results for Q4 and fiscal 2021. Since yesterday’s closing price, IMBI has gained more than 11.91% in value, making its stock worth more than $6.91. The stock closed at $6.17 at the end of the previous trading session. The stock trading volume in the previous trading session was around 76.43 shares.
IMBI: Expected Financials for Q4 and fiscal 2021
- iMedia Brands, Inc. (IMBI) expects revenue of $190 million, gaining more than $65 million compared to the fourth quarter of 2020. iMedia Brands expects a fiscal year revenue of $547 which is 20% more than fiscal 2020.
- The company expects a net loss of around $5 million in Q4 2021 compared to the net loss of $2.7 million for the same period in 2020. The earnings (loss) per share is $(0.23) in Q4 2021 as compared to $(0.21) per common share in Q4 2020.
- iMedia Brands, Inc. (IMBI) expects a net loss of around $22 million in fiscal 2021 compared to the net loss of $13.2 million for the same period in 2020. The Earning (loss) per share is $(1.15) in fiscal 2021 as compared to $(1.23) per common share in fiscal 2020.
- IMBI expects Q4 adjusted EBITDA to be approximately $14.6 million, up $6.2 million over last year. The company expects adjusted EBITDA to be around $41.1 million in 2021, compared to $23.9 million in the preceding year.
2022 Outlook
iMedia has maintained its forecast for 2022, which was issued on November 17, 2021. They expect revenue of $675 to $725 million, adjusted EBITDA of $50 to $60 million, and positive quarterly earnings per share commencing in the second half of 2022.
Conclusion
iMedia Brands, Inc. (IMBI) started 2022 with significant momentum. Q4 was a fantastic quarter, according to iMedia Brands CEO Tim Peterman, with the best sales growth rate in a decade. The company is focused on increasing its growth rate and expects its upcoming quarters to report positive income.
