Foundation Medicine (NASDAQ: FMI) reported Q2 EPS of ($0.98), $0.45 worse than the analyst estimate of ($0.53). Revenue for the quarter came in at $22.5 million versus the consensus estimate of $24.44 million.

Foundation Medicine sees FY2015 revenue of $85-95 million.

“Foundation Medicine delivered 16% quarter-over-quarter revenue growth demonstrating that our commercial team continues to leverage a portfolio of differentiated products for both our clinical and biopharmaceutical clients and partners,” said Michael Pellini, M.D., chief executive officer of Foundation Medicine. “That said, our clinical volume growth was affected by slower than anticipated progress towards obtaining a local coverage determination from our regional Medicare Administrative Contractor (MAC) and by some competitive noise in the market. As a result, we are adjusting guidance for clinical volume and annual revenues. We remain focused on building and investing in this business to deliver growth and value creation by integrating our molecular information products into routine patient care.”

For earnings history and earnings-related data on Foundation Medicine (FMI) click here.