Cognyte Software Ltd. (Nasdaq: CGNT) has reported a loss of $0.23 per share for the first quarter of fiscal 2024, slightly higher than the consensus loss of $0.22 per share. However, despite the loss, the company is optimistic about its performance and has raised its outlook for the year on non-GAAP revenue, gross profit, EPS, and cash flow.

The revised projections indicate that gross profit is expected to grow at over ten percent year over year on an SIS Adjusted non-GAAP basis, surpassing revenue growth.

Looking ahead to the full-year fiscal 2024, Cognyte expects non-GAAP revenue to reach approximately $303 million at the midpoint, with a range of +/- 2%, representing around 7% growth compared to the previous year's SIS Adjusted non-GAAP revenue. The company expects a loss of $0.53 per share based on the midpoint of its revenue outlook.

In pre-market, $CGNT is currently trading at $5.88, reflecting an increase of $0.31 (5.57%).

In a business update letter to shareholders, Mullen Automotive, Inc. (Nasdaq: MULN) acknowledged the significant decline in its stock price, dropping by 90% since March 31, 2023. As of June 13, 2023, the company's common stock closed at $0.32 per share. However, despite the decrease, Mullen emphasized its strong financial position with $135 million in cash, equivalent to approximately $0.038 per share.

The company reassured shareholders that it remains on track to meet its previously announced objectives for the production and sale of Class 3 commercial vehicles by the end of the third quarter of fiscal year 2023.

Mullen's financial report as of March 31, 2023, revealed $86.7 million in cash available for operations, representing a cash value of $0.68 per share. The company's book value per share stood at $2.08.

Additionally, Mullen highlighted its strategic acquisitions, including Bollinger Motors and Electric Last Mile Solutions, which have contributed valuable assets and expanded the company's capabilities. 

Furthermore, Mullen said that it has secured significant purchase orders worth $279 million from Randy Marion Automotive Group, one of the largest commercial vehicle dealer groups in the U.S., for its Mullen Class 1 and Class 3 EV vans and trucks.

$MULN is trading at $0.24 in pre-market, up $0.01 (+8.04%)

Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) has reported encouraging outcomes from the Phase 3 INVIGORATE-2 Clinical Trial, evaluating the effectiveness of 0.25% reproxalap ophthalmic solution (reproxalap) in patients with allergic conjunctivitis. 

The trial demonstrated significant results for both the primary endpoint and all secondary endpoints, marking a significant step forward in the development of this investigational new drug.  

In pre-market trading, $ALDX is trading at $11.15, reflecting a positive change of $0.69 or 6.63%.

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