Accelerate Diagnostics (AXDX) Tops Q4 EPS by 1c

Accelerate Diagnostics (NASDAQ: AXDX) reported Q4 EPS of ($0.39), $0.01 better than the analyst estimate of ($0.40). Revenue for the quarter came in at $3.5 million versus the consensus estimate of $4.68 million.

"Our contracted instrument trajectory continued over the course of 2019 as we doubled our global contracted instrument base by signing 304 instruments, including 137 units during the fourth quarter. Our full-year revenue was short of expectations as multi-site customers in the U.S. have taken longer than anticipated to go live and begin generating consumable revenue," said Jack Phillips, president and chief executive officer of Accelerate Diagnostics, Inc. "One of my initial areas of focus was to evaluate and re-engineer our go-live process, and I am confident the resulting improvements will help relieve our 255 U.S. instrument backlog and make the process quicker and more predictable. For clinically live accounts, I am encouraged that annual annuities are approximately $45k, proving to be predictable, and these customers are enthusiastic about the outcomes they are realizing."

For earnings history and earnings-related data on Accelerate Diagnostics (AXDX) click here.

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