DermTech Q1 revenue up 11% to $3.8M; net loss narrows to $20M

First-Quarter 2024 Financial Results • Billable sample volume declined 14 percent from the first quarter of 2023 to approximately 15,360. • Test revenue was $3.7 million, up 7 percent from the first quarter of 2023, primarily due to a higher ASP for the DMT. • Total revenue was $3.8 million, an 11 percent increase from the first quarter of 2023, driven by higher test revenue. • Cost of test revenue was $3.1 million, a 19 percent decrease from the first quarter of 2023, yielding a test gross margin of 16 percent, compared to negative 11 percent for the first quarter of 2023. Cost of test revenue decreased primarily because of lower employee-related costs. • Sales and marketing expenses were $7.8 million, a 49 percent decrease from the first quarter of 2023. The decrease was primarily attributable to lower employee-related and marketing expenditures. • Research and development expenses were $3.3 million, a 26 percent decrease from the first quarter of 2023, largely due to lower employee-