OPKO Health reports Q3 net loss of $86.1M as COVID testing revenue collapses

OPKO HEALTH, INC.

2022-Q3 EPS reported -$0.34 revenue$818,856,000

Consolidated revenue $179.7M, down 53% YoY from $385.8M, driven by lower COVID-19 testing.
Diagnostics revenue $142.8M (vs. $340.1M); BRL processed ~0.2M COVID PCR tests vs 2.2M last year.
Pharmaceuticals revenue $32.4M (vs. $36.9M); NGENLA royalties began; RAYALDEE sales $6.9M.
Operating loss $87.8M vs operating income $37.8M; net loss $0.11 per share vs $0.04 income.
BRL cut >$100M annualized costs; cash and equivalents $180.8M at Sept. 30, 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

OPKO HEALTH, INC. reported third quarter of 2022 results: revenue Consolidated total revenues for the third quarter of 2022 were $179.7 million, net income Net loss for the third quarter of 2022 was $86.1 million, EPS $0.11 per share.

Period: third quarter of 2022
Revenue: Consolidated total revenues for the third quarter of 2022 were $179.7 million
Net income: Net loss for the third quarter of 2022 was $86.1 million
EPS: $0.11 per share
Result: reported results

Exact text from the filing

Net loss for the third quarter of 2022 was $86.1 million, or $0.11 per share, compared with net income of $28.7 million, or $0.04 per diluted share, for the 2021 quarter.

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Source: SEC EDGAR

accession 0000944809-22-000046

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