Why did SNTI's Q3 2023 earnings fall short of forecasts?

Senti Biosciences' (SNTI) Q3 2023 earnings fell short of forecasts due to several key factors:

1. **Revenue Shortfall**: The company reported a net loss of $18.21 million for Q4 2023, with a revenue of $59 thousand, significantly less than the estimated $2.80 million. This shortfall is a result of no services provided under the Spark collaboration agreement, leading to a decrease in revenue compared to the previous year's $2.6 million.
2. **Operating Expenses**: The company's net loss from continuing operations improved by $30.6 million compared to 2022, primarily due to a decrease in operating expenses. This reduction in operating expenses did not fully offset the revenue shortfall, contributing to the earnings falling short of forecasts.
3. **Discontinued Operations**: There was no net income from discontinued operations in 2023, unlike the $12.3 million reported in 2022. The absence of this income further contributed to the lower-than-expected earnings.

In summary, Senti Biosciences' Q3 2023 earnings fell short of forecasts due to a combination of revenue shortfall and operating expenses.