financial guidance

The firm reported declines in revenues from its molecular collections systems, genomics products, and infectious disease tests, but still beat analyst estimates.

The company reported $26 million in total revenues for the quarter and said that testing services revenues more than doubled year over year.

The firm said that it placed about 50 sample-to-answer molecular systems under contract during Q1, and it had about 625 active sample-to-answer product customers.

Its product revenues were up 30 percent year over year, but research revenues decreased 89 percent. The firm posted $329,000 in grant contribution revenues.

Its CEO Bernd Montag said that measures taken to ensure a successful market launch of the Atellica Solution showed an impact in the second quarter.

Within diagnostics, molecular revenues were up 11 percent year over year to $167.8 million. The firm received two new CE marks for early infant diagnosis and testing dried blood spots.

It placed 39 net new ePlex analyzers, expanding the global installed base to 393 placements and growing its installed base by 72 percent compared to the prior-year period.

The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.

The company increased its 2019 revenue forecast and shrunk its net loss significantly in its push to become cash flow breakeven by the end of the year.

The firm's clinical service revenues were up also 51 percent, and it also announced it has signed a contract with insurer Humana.