GenMark Diagnostics Provides Preliminary Operational and Financial Results for 2019
Financial Highlights
- Total revenue for 2019 is expected to be approximately
$88 million , representing an increase of approximately 24% over 2018- ePlex® revenue for the full year 2019 is expected to be approximately
$60 million , an increase of approximately 59% over 2018
- ePlex® revenue for the full year 2019 is expected to be approximately
- Total revenue for the fourth quarter of 2019 is expected to be approximately
$27 million , representing an increase of approximately 40% over the fourth quarter of 2018- ePlex revenue for the fourth quarter of 2019 is expected to be approximately
$19 million , an increase of approximately 58% over the fourth quarter of 2018
- ePlex revenue for the fourth quarter of 2019 is expected to be approximately
- Gross margin is expected to be between 33% and 34% for the fourth quarter of 2019 and between 32% and 33% for the full year
Operational Highlights
- Placed 48 new ePlex analyzers in the fourth quarter of 2019, for a net increase of 38 to the installed base finishing the year with 527 ePlex analyzers placed worldwide
- ePlex installed base grew 49% year over year
- Fourth quarter annuity was approximately
$148 thousand per analyzer, compared to approximately$139 thousand in the fourth quarter of 2018
“2019 was a year full of accomplishments for GenMark. The
“Looking toward 2020, we are confident in our ability to continue to drive consistent revenue growth in the 20-25% range, as well as quality ePlex system placements. At the same time, we are increasingly focused on moving towards cash flow positivity and improving profitability. We have recently taken important actions to better scale our organizational structure and decrease our operating expenses, which in combination with our current gross margin initiatives, will improve our performance on the bottom line throughout the year.”
These preliminary results are based on management's initial analysis of operations for the quarter and year ended
About GenMark Diagnostics
Forward Looking Statements
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 and the timely
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Source: GenMark Diagnostics, Inc.