Financial Results

LumiraDx Q4 revenues drop 65% on lower COVID-19 testing

The firm recorded an accounting impairment in Q4 for excess manufacturing and inventory related to the scale-up during peak COVID-19 testing demand and the decision to pause commercialization of its Amira COVID-19 test.

March 21, 2023

Cue Health Q4 revenues decline 24% as firm expands, diversifies POC test menu

The company’s revenues have come predominantly from its COVID-19 testing product, but it is "executing well" on its strategy of expanding the test menu, CEO Ayub Khattak said.

March 16, 2023

Quanterix Q4 revenues drop 15% but match analysts’ expectations

For full-year 2022, total revenue was $105.5 million, a decline of 5% compared with 2021 revenue that included $5.2 million in National Institutes of Health (NIH) Rapid Acceleration of Diagnostics (RADx) grant money.

March 6, 2023

Myriad Genetics Q4 revenues rise 11% on strength in hereditary cancer, pharmacogenomics testing

Revenue for the quarter ended December 31 was driven by 16% growth in hereditary cancer testing volumes and 23% growth in volumes for the GeneSight pharmacogenomics test.

March 1, 2023

Agilent Technologies Q1 revenues rise 5% on strength in life sciences, applied markets

February 28, 2023

Opko Health Q4 revenues drop 54% as BioReference business reduces costs

BioReference processed approximately 100,000 COVID-19 PCR tests in the fourth quarter of 2022 compared with 2.7 million tests in the fourth quarter of 2021.

February 24, 2023

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Rapid nirmatrelvir treatment in study reduced long-COVID risk

Guardant Health shares rise on Q4 growth in clinical, biopharma testing

For Q4, the firm reported 36,000 tests to clinical customers and 8,200 tests to biopharmaceutical customers, representing an increase of 41% and 24%, respectively, over the fourth quarter of 2021.

February 24, 2023

Labcorp Q4 revenues drop 10% despite base business growth

The firm booked $1.1 billion in 2022 revenue for COVID-19 testing, but it expects such revenue to drop by 75% to 90% in 2023.

February 16, 2023

QuidelOrtho anticipates $2.8B to $3.1B in 2023 revenue, sees COVID-19 as another seasonal virus

The firm is seeing greater access to semiconductor chips and expects inflation and supply chain challenges to further ease as this year progresses, said its CFO Joseph Busky.

February 16, 2023

Q4 revenue rose 94%, but OraSure to eliminate 'non-production' roles in restructuring

The restructuring is expected to impact 11% of its non-production workforce and with other savings, yield annual operating expense reductions of approximately $15 million.

February 15, 2023

As Qiagen Q4 net sales declined 14%, base business sales grew double digits

The firm saw a 15% year-over-year sales increase for non-COVID-19 products, due to strong growth in sales of consumables and related products as well as instruments.

February 8, 2023

Quest Diagnostics Q4 revenues down 15% on COVID testing but base business grew

Fourth-quarter COVID-19 testing revenues of $184 million dropped 75% compared to 2021, but base business revenues, excluding COVID sales, rose 6% year-over-year to $2.15 billion.

February 2, 2023

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