InVitae (NVTA) Misses Q2 EPS by 7c, Revenues Beat

InVitae (NYSE: NVTA) reported Q2 EPS of ($0.77), $0.07 worse than the analyst estimate of ($0.70). Revenue for the quarter came in at $46.19 million versus the consensus estimate of $39.62 million.

"While we experienced significant disruptions in the healthcare system due to the pandemic, we quickly established a solid recovery during the quarter. Our results highlight the strength of our operations and the benefits of our diversified menu, investments in telehealth capabilities and longstanding customer relationships, all of which position us to adapt and meet the changing needs of our customers," said Sean George, Ph.D., co-founder and chief executive officer of Invitae. "We exited the quarter with a strong footing and increasing momentum. We remain confident in our ability to continue to deliver on our mission to bring genetic information into mainstream medicine."

"We continue to see a solid recovery in volume, improvement in our operating leverage and ability to improve revenue generation. As a result, we are well positioned with sufficient capital to execute our strategy in the coming years," continued Dr. George. "We have added or will be adding important capabilities to our platform through the acquisitions we announced this quarter and our ongoing product development efforts. With our mission clearly in focus, we can continue to navigate these unprecedented times."

For earnings history and earnings-related data on InVitae (NVTA) click here.

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