Genetron Holdings Ltd. (GTH) Tops Q4 EPS by 9c

Genetron Holdings Ltd. (NASDAQ: GTH) reported Q4 EPS of ($0.02), $0.09 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $20.5 million versus the consensus estimate of $20.28 million.

Fourth Quarter 2020 Unaudited Preliminary Financial Results

• Total revenue for the fourth quarter 2020 increased by 30.1% to RMB133.9 million (US$20.5 million) from RMB102.9 million in the same period of 2019.
• Basic loss per ordinary share was RMB10.18 (US$1.56) for 2020, compared with a basic loss per ordinary share of RMB5.41 for the same period of 2019. Excluding share-based compensation expenses, fair value change of financial instruments with preferred rights and other loss of financial instruments with preferred rights.
• Non-IFRS basic loss per ordinary share was RMB0.72 (US$0.11) for 2020, compared with non-IFRS basic loss per ordinary share of RMB2.24 for the same period of 2019. Diluted loss per ordinary share is equivalent to basic loss per ordinary share. Each ADS represents of five ordinary shares, par value US$0.00002 per share. Please refer to the section in this press release titled "Non-IFRS Financial Measures" for details.

“In 2020, despite the challenges caused by the global pandemic, we completed a successful IPO and made significant commercial and clinical progress across all of our business lines. We delivered robust revenue growth with 31.3% year-over-year increase, and we are particularly pleased with the commercial uptakes of HCCscreenTM and our IVD products. Compared to a year ago, our gross margin expanded to 61.3% from 44.8%, and we also markedly improved our SG&A operational efficiencies,” remarked Mr. Sizhen Wang, co-founder and CEO of Genetron Health. “We announced new HCCscreenTM data from our prospective cohort study, which showed overall better sensitivity data, and comparable specificity data versus the standard-of-care. We are encouraged by the further validation of this leading liquid-biopsy early detection assay, and will move forward to initiate an NMPA registrational study in the second quarter of this year.”

“In 2021, based on the current environment and providing no further major COVID-19-related disruptions in our key markets, we are forecasting our sales to grow around 45% to 47% to reach RMB615 million to RMB625 million. On the pipeline front, we plan to provide case-control early screening data for colorectal cancer this year. Thanks to our Mutation CapsuleTM early screening technology, we are advancing well on our plans to expand our single-cancer assay to become a multi-cancer product. We also continue to make progress on our MRD projects in liver and colorectal cancers. Overall, Genetron Health is well-positioned to capture market share in the fast-growing precision oncology sector, and we are excited about our growth prospects. More importantly, we remain highly committed to developing innovative products that would benefit cancer patients and save more lives,” concluded Mr. Wang.

2021 Financial Guidance

Based on the current environment and providing no further major COVID-19-related disruptions in our key markets, Genetron Health expects 2021 revenue to be around RMB615 million to RMB625 million, representing around 45%-47% growth over 2020.

For earnings history and earnings-related data on Genetron Holdings Ltd. (GTH) click here.

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