GenMark Diagnostics Provides Preliminary Financial Results for Third Quarter 2020
Third Quarter 2020 Highlights
- Placed net 70 ePlex® analyzers, finishing the quarter with a global installed base of more than 720 ePlex analyzers, an increase of 47% versus the third quarter of 2019
- Total revenue expected to be approximately
$42.6 million , representing an increase of 104% over the third quarter of 2019- ePlex revenue expected to be approximately
$38.0 million , an increase of 187% compared to the third quarter of 2019 - Average annuity per analyzer of approximately
$193,000 , up 82% over the third quarter of 2019 - Exited the quarter with ePlex
Respiratory Pathogen Panel 2 (RP2 ) revenue representing approximately 63% of ePlex consumable revenue, driven by the growing number of customer conversions from ePlex SARS-CoV-2 toRP2 ahead of respiratory season
- ePlex revenue expected to be approximately
- Gross margin expected to be in the range of 38% to 39%, compared to 34% in the third quarter of 2019
“I am extremely proud of the hard work and meaningful progress our team has made during these unprecedented times,” said
These preliminary results are based on management's initial analysis of operations for the quarter ended
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Safe Harbor Statement
This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements, including, but not limited to, those regarding our preliminary, unaudited financial and operational performance, our ability to secure enduring revenue streams extending beyond the COVID-19 pandemic, regulatory submissions and approvals, and plans and objectives of management, are all subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include, but are not limited to, disruptions to our supply chain, audit adjustments to our preliminary results, our ability to successfully obtain 510(k) market clearance for our EUA products, constraints or inefficiencies caused by unanticipated acceleration and deceleration of customer demand, our ability to retain customers beyond the COVID-19 pandemic, our ability to successfully expand sales of our product offerings outside
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Source: GenMark Diagnostics, Inc.