NanoString Technologies (NSTG) Tops Q3 EPS by 4c

NanoString Technologies (NASDAQ: NSTG) reported Q3 EPS of ($0.56), $0.04 better than the analyst estimate of ($0.60). Revenue for the quarter came in at $31.85 million versus the consensus estimate of $28.69 million.

Third Quarter Financial Highlights

• Product and service revenue of $30.1 million, 14% year-over-year growth. On a pro forma basis, reflecting the impact of the Veracyte transaction on revenue recorded for Prosigna® IVD kits, product and service revenue increased by 22%
• Instrument revenue of $12.9 million, 60% year-over-year growth. Instrument revenue includes $7.5 million of GeoMx® Digital Spatial Profiler (DSP) instrument revenue
• Consumables revenue of $13.7 million, 11% year-over-year decline. On a pro forma basis, reflecting the impact of the Veracyte transaction, consumables revenue was flat year-over-year. Consumables revenue includes $1.4 million of GeoMx DSP® consumables revenue
• Service revenue of $3.6 million, 16% year-over-year growth

"We delivered over 20% pro forma revenue growth in Q3, and extended our spatial genomics leadership with the launch of NGS readout for GeoMx," said Brad Gray, President and CEO of NanoString. "With our recent successful financing, we have the strongest balance sheet in our company's history, positioning us to fully support our market and technology development initiatives."

For earnings history and earnings-related data on NanoString Technologies (NSTG) click here.

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