The company posted a net loss of $8.9 million, or $0.25 per share, for the third quarter, compared with a net income of $14.0 million, or $0.39 per share, a year earlier.
The communications-focused real estate investment trust (REIT) named Chief Financial Officer Dan Schlanger as interim chief executive, effective immediately.
Its fourth-quarter revenue rose 5% to $61.6 million. Wall Street analysts expected it to post $61.9 million.
Its stockholders will receive $25 in cash per share, representing an approximately 60% premium to the company’s last closing price.
The company revealed in a regulatory filing that Bank of America and Webull Pay would not renew commercial agreements with the company.
JMP said there is material upside to consensus estimates, rendering Duolingo’s valuation attractive.
The report, citing people familiar with the matter, said Grab has been evaluating GoTo’s accounts, contracts, and operations.