The embattled company saw its net loss narrow during the first quarter, in part due to a new policy of giving away fewer nonreimbursed GPS Cancer and Liquid GPA molecular test orders than in the past.
The revenue increase was driven primarily by an increase in the sale of consumable test kits, and the firm added 75 commercially contracted instruments during Q1.
Flu test sales were the second-highest for a quarter in the firm's history but were still $17.4 million lower than the year-ago quarter due to a much less intense flu season.
The company saw $1.0 million in revenues for the quarter, including $976,000 from commercial testing, and attributed the growth to its pathology partnership initiative.
The firm has three clinical trials in progress to validate the clinical utility of products it soon intends to submit for regulatory clearances to the FDA.
The test relies on a signature that Almac developed for stratifying breast cancer patients, but which, as the researchers showed, can be used in other cancers as well.
The revenue increase was driven by a jump in sales of products including the company's flagship Epi proColon blood-based colorectal cancer screening test.
The firm reported total revenues of $216.6 million in Q3 2019 compared to $183.1 million a year ago, but it fell short of the consensus Wall Street estimate was $217.5 million.
The company's total revenue for the three months ended March 31 was $108.8 million compared to $92.6 million in the first quarter of 2018, exceeding analyst expectations.
The firm said it has multiple point-of-care tests available in Brazil and anticipates soon fulfilling an order for its dengue, chikungunya, and Zika tests.
The test uses machine learning algorithms to assess predictive biomarkers and electronic health record information to identify progressive kidney disease.
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.
