Accelerate Diagnostics (AXDX) Misses Q1 EPS by 1c

Accelerate Diagnostics (NASDAQ: AXDX) reported Q1 EPS of ($0.39), $0.01 worse than the analyst estimate of ($0.38). Revenue for the quarter came in at $2.34 million versus the consensus estimate of $2.27 million.

"Our first quarter got off to a solid start, as sales, new contracts, and go-lives all progressed as anticipated through January and February. As we moved into March, hospitals began shifting their focus toward preparing for and treating COVID-19 patients, and these shifting priorities, along with meaningful restrictions on hospital access, led to lower-than-expected new contracts and go-lives for the quarter," commented Jack Phillips, Chief Executive Officer of Accelerate Diagnostics, Inc. "However, we are adapting our business to maximize our commercial execution in the near term, and we will continue to work diligently on our longer-term initiatives to strengthen our commercial foundation and expand our portfolio of innovative, life-saving products."

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

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