bullish
BQE: Excellent Q4 Financials; Increasing Target Price
SUMMARY
- BQE reported Q4 & 2023 financial results yesterday that came in largely ahead of our expectations on revenue.
- Proportional revenue was $5.4M compared to our estimate of $4.2M and adjusted EBITDA was $0.5M compared to our estimate of $0.6M.
- BQE remains well positioned for another record year in 2024, we are expecting 8% revenue growth and 36% EBITDA growth.
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