Stock Alert: Drops 14% Following Q3 Results

Shares of artificial intelligence software company, Inc. (AI) are falling more than 14% Tuesday morning following third quarter results.

Net loss attributable to Class A common shareholders were $16.85 million or $0.23 per share compared with net loss of $9.8 million or $0.27 per share a year ago. n average 7 analysts polled by Thomson Reuters expected the company to report loss of $0.16 per share.

Revenue for the quarter increased 19% year-over-year to $49.1 million.

Looking forward to the fourth quarter, the company sees revenue in the range of $50 million – $51 million. The consensus estimate stands at $48.36 million.

For the full-year, revenue is expected in the range of $180.9 million – $181.9 million. Analysts expect earnings of $177.12 million for the period.

AI, currently at $103.94, has been trading in the range of $90.03- $183.90 in the last one year.

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