Interpace Diagnostics (IDXG) Tops Q4 EPS by 73c, Revenues Miss; Offers 1Q Revenue Guidance Below Consensus, Withdraws FY20 Guidance

Interpace Diagnostics (NASDAQ: IDXG) reported Q4 EPS of ($0.01), $0.73 better than the analyst estimate of ($0.74). Revenue for the quarter came in at $4.07 million versus the consensus estimate of $10.77 million.

• Withdraws Full-Year 2020 Guidance

“Fiscal 2019 was a transformational year for us as we acquired the Biopharma business of Cancer Genetics in July and raised over $47 million from sophisticated laboratory private equity investors in 2019 and early 2020. We believe that the combination of our clinical services and acquired pharma services uniquely positions us for growth and expansion in the fast-growing biopharma sector where we can provide our unique diagnostic capabilities to a broad customer base.” said CEO Jack Stover. “We believe that our accomplishments this year have supported our aggressive growth plans and also de-risked our business during these uncertain times,” added Mr. Stover.

GUIDANCE:

Interpace Diagnostics sees Q1 2020 revenue of $8.8-9.3 million, versus the consensus of $11.4 million.

• Quarter-end March 31, 2020 cash position of approximately $14.5 million and a total of $16.8 million of cash and availability.
• As of April 21, 2020, total cash and availability of approximately $18.4 million.

For earnings history and earnings-related data on Interpace Diagnostics (IDXG) click here.

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