financial estimates

The company's system revenues were up 28 percent to $19.5 million and consumables revenues dropped 12 percent to $11.8 million.

The firm's CFO Jochen Schmitz said the upside from COVID-19 testing only partly compensated for a steep decline in reagent volumes used in routine care testing.

The company's Q3 sales reflect ongoing demand for COVID-19 testing products and improved customer demand in other areas of the firm's portfolio.

The company said it provided approximately 21,800 total AlloSure and AlloMap patient results during the quarter.

The firm's Diagnostics segment revenues shot up 46 percent while its Discovery & Analytical Solutions segment revenues retreated 10 percent.

The firm's various COVID-19 molecular test offerings offset declines in core laboratory and point-of-care segments.

The firm said it expects FDA clearance for its Acuitas AMR Gene Panel, although it has been delayed due to the agency's extended review timelines.

While down 6 percent year-over-year, the estimate beats analysts estimates of $1.5 billion and reflects a stronger-than-expected rebound in test volumes.

The better-than-expected sales growth reflects "very significant demand" for COVID-19 testing products, tempered by weaker customer demand in other product areas.

The firm expects organic revenue growth of approximately 11 percent at constant exchange rates compared to the second quarter last year.