GenMark Diagnostics Provides Preliminary Operational and Financial Results for 2019
CARLSBAD, Calif., Jan. 13, 2020 (GLOBE NEWSWIRE) -- GenMark Diagnostics, Inc. (NASDAQ: GNMK), a leading provider of automated, multiplex molecular diagnostic testing systems, today provided preliminary operational and financial results for the year ended December 31, 2019.
- 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
- 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
- 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
- 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 FDA approval and the launch of our suite of sepsis panels meaningfully strengthened the position of our ePlex platform, propelling growth in our revenue and installed base while driving improvements in ePlex gross margin,” said Hany Massarany, President and Chief Executive Officer.