Accelerate Diagnostics reports preliminary Q1 net loss of $17.0M; Wave trial on track

Accelerate Diagnostics, Inc

2024-Q1 EPS reported -$0.74 revenue$2,921,000

Q1 net sales $2.9M (+4% YoY); gross margin 25% vs 36% due to lower capital instrument mix.
Net loss $17.0M ($0.88 per share); cash used $9.0M net of financing, including ~$1M prepaid annual expenses.
Pre-clinical trial site installed for Accelerate Wave system; Gram Positive PBC menu development begun.
Contracts secured covering ~70% of U.S. Pheno base; 12 new Pheno instruments added; 348 revenue-generating instruments at quarter-end.
SG&A fell to $5.7M from $10.1M; R&D to $5.2M from $7.0M; both reflect lower employee costs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Accelerate Diagnostics, Inc reported first quarter ended March 31, 2024 results: revenue $2.9 million, net income Net loss was $17.0 million, EPS $0.88 net loss per share.

Period: first quarter ended March 31, 2024
Revenue: $2.9 million
Net income: Net loss was $17.0 million
EPS: $0.88 net loss per share
Result: preliminary results

Exact text from the filing

and another 75 contracted instruments in the process of being implemented. First Quarter 2024 Preliminary Financial Highlights § Net sales for the quarter were $2.9 million, compared to $2.8 million for the same quarter of the prior year. Revenues from consumable products increased by 7% compared to the same period in the prior year. § Gross margin

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Source: SEC EDGAR

accession 0001104659-24-058698

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