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financial estimates

Total revenues of $36.6 million include product and service revenues, which are expected to be about $33.6 million and would be a 42 percent increase year over year.

The company said it delivered 4,480 DecisionDx-Melanoma test reports in Q4 2019 compared to 3,270 reports in Q4 2018.

The company had a challenging fiscal first quarter due to the deletion of CPT codes that payors used to use to reimburse hereditary cancer testing. 

The company's revenues were driven by its centralized and point-of-care solutions as well as its molecular diagnostics business, both rising in the single digits.

Qiagen will develop IVDs for use on Illumina's clinical sequencers and reported preliminary Q3 revenue growth of 3 percent at a constant exchange rate.

The San Francisco-based medical genetics firm generated $53.5 million in revenues in the second quarter, beating analysts' consensus estimate of $50.7 million.

Product sales from OEM customers were up 28 percent, while product sales from direct customers and distributors increased 27 percent, and other revenues grew sharply.

The company said it has faced competitive pressures in its diagnostics business, partially offset by organizational streamlining efforts it initiated last year.

The company's revenues in the quarter rose to $221.9 million from $161.0 million in Q4 2017, but it missed the consensus Wall Street estimate of $245.3 million.

For the last three months of 2018, Invitae reported $45.4 million in revenues compared to $25.4 million in Q4 2017, beating the consensus Wall Street estimate.

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