What happened
Shares of View (VIEW -11.77%), a smart-building technologies company, were skyrocketing today after it reported its full-year 2021 financial results.
The tech stock was up an astonishing 42.5% as of 12:16 p.m. ET on Wednesday.
So what
The company reported a diluted loss per share of $1.97 for the full year, which was worse than analysts' consensus for a loss of $1.63. But investors looked past the company's bottom line and instead focused on View's tremendous revenue growth.
Image source: Getty Images.
View's full-year 2021 sales soared 125% to $74 million, which beat the company's own revenue guidance range of $65 million to $70 million.
"At the beginning of the year, we said that we would more than double revenues, and we did just that," CEO Rao Mulpuri said in a press release. He added that the "real estate industry is going through a once-in-a-lifetime change driven by sustainability, user experience, human health, and digital transformation," and that View's goal is to be a leader in this space.
View investors clearly shared Mulpuri's optimism today, and their sentiment was further buoyed by the company issuing a 2022 sales outlook in the range of $100 million to $110 million -- a nearly 42% year-over-year increase at the midpoint of guidance.
Now what
Like nearly every other technology stock, View's share price has endured a significant haircut recently. Even with today's impressive gains, its share price is still down about 50% year to date.
And while the company's latest revenue growth was very good, View shareholders should know that with the market still very volatile right now and many investors worrying about a potential recession, there's likely to be more share price uncertainty in the quarters ahead.