Alliqua (ALQA) Reports Prelim. Q1 Revenue of $4.6M

Alliqua BioMedical, Inc. (Nasdaq: ALQA) ("Alliqua" or "the Company"), a regenerative technologies company committed to restoring tissue and rebuilding lives, today announced preliminary first quarter 2017 revenue results and timing and details of the first quarter of fiscal year 2017 financial results conference call.

First Quarter 2017 Preliminary Revenue Summary:

The Company expects first quarter total revenue of approximately $4.6 million, compared to revenue from continuing operations of $4.0 million last year, representing growth of approximately 16% year-over-year. The Company further estimates that sales of products were $4.4 million and that contract manufacturing sales were approximately $225,000 for the first quarter of 2017. Product revenue for the first quarter of 2017 represents growth of approximately 28% year-over-year.

“Our first quarter preliminary total revenue results were driven by strong growth in sales of our Biologics products which increased approximately 200% year-over-year,” said David Johnson, Chief Executive Officer of Alliqua BioMedical. “We are pleased with our preliminary revenue results for the first quarter as they reflect continued progress toward building our capabilities as a provider of regenerative solutions. We look forward to providing the investment community with our full financial results for the first quarter and an update on our major areas of focus for 2017 during our investor call on May 9th.”

The financial information presented above is a preliminary estimate only, has not been reviewed by the Company's independent registered accounting firm and is subject to change upon completion of the review of the Company’s financial statements as of and for the quarter ended March 31, 2017. Additional information and disclosures would be required for a more complete understanding of the Company’s financial position and results of operations as of March 31, 2017.

Updated Fiscal Year 2017 Revenue Outlook:

For the fiscal year ending December 31, 2017, the Company expects total revenue of $20.4 million to $21.3 million, representing growth in the range of approximately 12% to 17% year-over-year. This compares to the Company’s prior guidance of revenue in the range of $19.8 million to $20.7 million.

• The Company’s total revenue guidance now assumes contract manufacturing sales of approximately $1.4 million, compared to $2.2 million in the fiscal year ended December 31, 2016. This compares to the Company’s prior guidance for contract manufacturing sales of $0.8 million in 2017. The change in expectations for contract manufacturing sales in 2017 is a result of final order volumes from the Company’s largest contract manufacturing customer. As previously reported, subsequent to December 31, 2016, the Company was notified by a customer of its contract manufacturing services of its intent not to use the Company’s contract manufacturing services going forward.
• The Company’s total revenue guidance continues to assume product sales of $19.0 million to $19.9 million, representing growth in the range of approximately 18% to 24% year-over-year compared to product sales of $16.1 million in the fiscal year ended December 31, 2016.

First Quarter Fiscal Year 2017 Financial Results Conference Call:

Chief Executive Officer, David Johnson, and Chief Financial Officer, Brian Posner, will host a teleconference at 8:00 a.m. Eastern Time on May 9th to discuss the results of the quarter and to host a question and answer session. Those interested in participating on the call may dial 888-510-1762 (719-325-2472 for international callers) and provide access code 1932245 approximately 10 minutes prior to the start time. A live webcast of the call will be made available on the investor relations section of the Company’s website.

For those unable to participate, a replay of the call will be available for two weeks at 888-203-1112 (719-457-0820 for international callers); access code 1932245. The webcast will be archived on the investor relations section of Alliqua’s website.

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