NantHealth (NH) Misses Q2 EPS by 3c, Miss on Revenues

NantHealth (NASDAQ: NH) reported Q2 EPS of ($0.18), $0.03 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $26.2 million versus the consensus estimate of $31.27 million.

• Restructuring Plan Implemented To Focus on Cancer Decision Support and Artificial Intelligence Platform
  • Integration of Four Pillars: GPS Cancer, Eviti Clinical Decision Support, Connected Care and Provider/Payer Engagement
  • Sale of Patient/Provider Portal to Allscripts
  • Expected to Significantly Accelerate Timeline to Profitability
  • Synergies of Restructuring and Headcount Reduction to Result in Cost Savings Anticipated to Exceed $70 million Annually
• GPS Continues to Grow
  • 379 GPS Commercial Tests Ordered in Q2
  • 264 GPS Commercial Tests Delivered in Q2
  • GPS Tests Ordered in July, Largest Month in Orders to Date
  • The number of Oncologists that Have Ordered the Test has Grown to 432
  • Documentation and Validation of GPS Cancer Coverage has been Completed and Will be Filed in this Quarter to CMS for Coverage
• Q2-2017 Revenue Increased 17% to $26.2 Million from Q1-2017
• Gross Profit Increased 175% to $9.6 Million from Q1-2017

For earnings history and earnings-related data on NantHealth (NH) click here.

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