GenMark Diagnostics Provides Preliminary Financial and Operational Results for Second Quarter 2020
-Total revenue expected to be approximately $40.1 million, representing an increase of 118% over the second quarter of 2019
-ePlex® revenue expected to be approximately $35.2 million, an increase of approximately 195% compared to the second quarter of 2019
-Average annuity per analyzer of approximately $188,000, up 74% over the second quarter of 2019
-COVID-19 positively impacted second quarter placements and revenue
Approximately 90% of gross placements included interest in COVID-19 testing
SARS-CoV-2 consumable revenue accounted for approximately 48% of total ePlex revenue
-Gross margin expected to be approximately 38% to 39%, compared to 36% in the second quarter of 2019
ir.genmarkdx.com/new...nary-financial-and-0
www.fool.com/investi...s-soaring-today.aspx
The company projects Q2 ePlex sales of around $35.2 million, nearly triple the amount made in the prior-year period
Now what
GenMark plans to report its full Q2 results in early August. With the preliminary numbers already available, the primary catalyst for the healthcare stock in the Q2 update is likely to be GenMark's updated 2020 guidance. Based on how well things are going for the company so far this year, any revisions to its full-year outlook are likely to be well received by investors.
-Total revenue expected to be approximately $40.1 million, representing an increase of 118% over the second quarter of 2019
-ePlex® revenue expected to be approximately $35.2 million, an increase of approximately 195% compared to the second quarter of 2019
-Average annuity per analyzer of approximately $188,000, up 74% over the second quarter of 2019
-COVID-19 positively impacted second quarter placements and revenue
Approximately 90% of gross placements included interest in COVID-19 testing
SARS-CoV-2 consumable revenue accounted for approximately 48% of total ePlex revenue
-Gross margin expected to be approximately 38% to 39%, compared to 36% in the second quarter of 2019
ir.genmarkdx.com/new...nary-financial-and-0
www.fool.com/investi...s-soaring-today.aspx
The company projects Q2 ePlex sales of around $35.2 million, nearly triple the amount made in the prior-year period
Now what
GenMark plans to report its full Q2 results in early August. With the preliminary numbers already available, the primary catalyst for the healthcare stock in the Q2 update is likely to be GenMark's updated 2020 guidance. Based on how well things are going for the company so far this year, any revisions to its full-year outlook are likely to be well received by investors.