What happened
Enjoy Technology (ENJY +0.00%), a company that specializes in bringing high-end retail experiences to the home, didn't have a good day on the market Thursday. Its shares closed almost 4% lower, following the publication of its latest set of quarterly earnings.
So what
After market close on Wednesday, Enjoy unveiled its fourth quarter of 2021 results. These show that the specialty-retail company earned $22.2 million in revenue, which was almost 23% higher than the same period of 2020. Enjoy also managed to narrow its net loss, although it still landed well in the red. Its deficit was nearly $70.7 million ($0.68 per share), compared to fourth-quarter 2020's $77.7 million.
Image source: Enjoy Technology.
Alas, both headline figures fell notably short of analyst estimates. On average, prognosticators following the stock were expecting almost $24.9 million on the top line and a per-share net loss of only $0.43.
In a shareholder letter bundled into the results announcement, CEO Ron Johnson said the company was hampered by "the continued challenges of the COVID-19 pandemic and significant disruptions in the supply chain that materially impacted the second half of the year."
OTC: ENJY
Key Data Points
Now what
Johnson, who rose to prominence while senior vice president of retail operations at Apple for being a key figure in the development of the Apple Store, revealed Enjoy's revenue guidance in his letter. The company believes it will post $160 million to $200 million on the top line for full-year 2022, which would be well above the nearly $81 million of 2021. The consensus analyst estimate for this-year's revenue is slightly over $197 million.
