The company said billable volume for its ConfirmMDx prostate cancer test fell 12 percent year over year, and volumes for its SelectMDx test fell 48 percent.
For the three months ended July 31,the firm's revenues contracted to $1.26 billion from $1.27 billion in Q3 2019, beating Wall Street analysts' average estimate of $1.21 billion.
The firm reported total revenues of $93.2 million, down from $215.4 million in fiscal Q4 2019 and short of the consensus Wall Street estimate of $93.9 million.
Although the firm has ramped up COVID-19 testing, its billable test volume and overall testing revenues both declined due to pandemic-related challenges to its core oncology business.
For the three months ended June 30, the Tucson, Arizona-based firm's revenues fell to $2.0 million from $5.8 million in the same period the year before.