QST reported a Q3 EPS loss of ($0.12), coming in below analysts’ estimates of ($0.01) and decreasing from the year prior at nil. Revenue was $1.7M, also missing estimates of $2M being relatively unchanged from the same period a year prior. Cash position dropped slightly from the previous quarter to $3.7M while debt remains unchanged. Cash from operations declined on both a quarterly and yearly basis, coming at negative ($0.4M). QST said it continues to assemble the prototype for its 1500-kilowatt waste heat to power unit and shop testing will begin in the first quarter of 2024. Installation at a third-party site and final field testing is expected to begin in the second half of 2024. This was a weak quarter for QST as they continue to face small cap pressures and stock is now down 11.63% in the past month and 26.21% year-to-date.
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