Close Menu

financial results

For full-year 2018 the firm's revenues rose 38 percent to $21.9 million from $15.9 million a year ago.

The company ran 668,600 tests during the year, a 30 percent increase from its 2017 testing volume.

The firm said revenues from its precision oncology business increased 98 percent in Q4, driven by higher testing volume and increased revenue per test.

Revenues included sales to the former US lab business and revenue from T-SPOT.TB tests sold to Quest after Nov. 6 as part of a long-term supply agreement.

The company said that diagnostic testing volumes, product and royalty revenues, and clinical services revenues all fell year over year.

The firm said it secured a record 14 new contracts of T2Dx instruments in the fourth quarter, which was at the high end of its guidance for the second half of 2018.

The firm's revenues rose to $21.5 million from $14.8 million in 2017, driven by expansion of its biomarker profiling services business and collaborative program.

The firm's results were in line with its preannouncement and reflected an increase in product sales.

Though the firm saw lower overall revenue, it increased its fourth quarter and full-year product and services revenue by 12 percent and 16 percent respectively.

The company posted Q4 revenues of $10.9 million, up from $6.6 million in Q4 2017, beating the consensus Wall Street estimate of $9.3 million.

Pages