Close Menu

financial results

The point-of-care diagnostics firm tallied $9.6 million in revenues in the second quarter, besting analysts' consensus estimate of $8.8 million.

Revenues from product and product-related services more than doubled to $4.4 million, but collaborative development revenues sank 52 percent to $1.4 million.

The firm said revenues fell because of delayed shipments of HIV self-tests and ongoing softness in the consumer genomics markets.

The company sold nearly twice as many tests as in Q2 last year, with clinical test revenue more than doubling and total revenue reaching $54 million for the quarter.

Oxford Immunotec beat analysts' consensus estimates on the top and bottom lines as its second quarter net loss last year swung to a profit this year.

The firm noted that in the quarter, the US Food and Drug Administration granted Breakthrough Device designation for its exosome-based liquid biopsy test.

Revenues were in line with Wall Street estimates, and revenue growth represented strength across all three of the firm's business segments.

Driving the revenue increase was a 187 percent year-over-year rise in the number of billable tests the company delivered during the quarter.

The company posted Q2 revenues of $13.5 million, up from $8.6 million in Q2 2018 and above the consensus Wall Street estimate of $11.5 million.

The Carlsbad, California-based molecular diagnostics firms reported $18.4 million in revenues, up from 14.9 million in Q2 of 2018.

Pages