Alliqua (ALQA) Misses Q1 EPS by 3c; Maintains Revenue Guidance

Alliqua (NASDAQ: ALQA) reported Q1 EPS of ($0.23), $0.03 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $4.6 million versus the consensus estimate of $4.43 million.

“Our first quarter revenue performance represents an exciting start to 2017, with 28% growth in our products business, driven by Biologics growth of 197%,” said David Johnson, Chief Executive Officer of Alliqua BioMedical. “We were successful in pursuing our targeted sales strategies for our regenerative technologies. Within Biologics, for example, we saw continued success in our efforts to focus on the surgical segment of the market and enhance our hybrid selling organization by adding relationships with new independent sales agencies. Likewise, within our UltraMIST franchise, we are excited about our targeted strategy for driving growth, by focusing on the hospital outpatient market, hosting peer-to-peer education events and establishing centers of excellence.”

“Finally, in addition to our strong commercial performance in the first quarter, we also reduced our operating cash burn profile and raised important capital to support our continued growth.”

Fiscal Year 2017 Financial Outlook:

The Company is maintaining its revenue guidance for the fiscal year 2017 period, which was last updated on April 6, 2017. For the fiscal year ending December 31, 2017, the Company expects total revenue of $20.4 million to $21.3 million, representing growth in the range of approximately 12% to 17% year-over-year on a GAAP basis.

For earnings history and earnings-related data on Alliqua (ALQA) click here.

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