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Accelerate Diagnostics (AXDX)
:AXDX
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Accelerate Diagnostics
(NASDAQ:AXDX)
36Underperform
Accelerate Diagnostics (AXDX) vs. S&P 500 (SPY)
Market Cap
$28.68M
Dividend YieldN/A
Average Volume (3M)22.37K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth-0.79%
EPS Growth55.49%
CountryUS
Employees134
SectorHealthcare
Sector Strength78
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)-2.72
Shares Outstanding25,043,821
10 Day Avg. Volume21,123
30 Day Avg. Volume22,373
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.31
Price to Cash Flow (P/CF)-2.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Accelerate Diagnostics Business Overview & Revenue Model
Company DescriptionAccelerate Diagnostics, Inc. (AXDX) is a medical technology company that specializes in providing rapid diagnostic solutions to address the global challenge of antibiotic resistance and the need for faster pathogen identification. The company operates primarily in the healthcare and biotechnology sectors, focusing on the development and commercialization of innovative diagnostic systems that enable clinicians to make timely and informed treatment decisions. Its flagship product, the Accelerate Pheno system, is designed to significantly reduce the time required to diagnose infections and determine antibiotic susceptibility, thereby improving patient outcomes and optimizing antibiotic stewardship.
How the Company Makes MoneyAccelerate Diagnostics generates revenue primarily through the sale of its diagnostic systems and related consumables. The company's core revenue streams include the upfront sales of the Accelerate Pheno system to hospitals and healthcare facilities, as well as recurring revenue from the sale of consumable test kits that are used with the system. These test kits are essential for conducting each diagnostic test, creating a continuous demand as long as the systems are in use. Additionally, Accelerate Diagnostics may engage in strategic partnerships or collaborations with other healthcare organizations or companies to expand its market reach, enhance its product offerings, or support research and development efforts. Revenue can also be influenced by factors such as regulatory approvals, adoption rates of its technology, and the overall demand for rapid diagnostic solutions in the healthcare industry.
Accelerate Diagnostics Financial Statement Overview
Summary
Accelerate Diagnostics faces significant financial challenges with declining revenues, persistent losses, and high financial leverage. The negative equity and cash flow issues highlight potential risks in maintaining operational stability. Strategic improvements are necessary to enhance financial health and sustainability.Income Statement
Accelerate Diagnostics has shown a consistent decline in revenue with a negative revenue growth rate over the years. The company has negative margins across all metrics, indicating an inability to generate profits efficiently. The negative Net Profit Margin and EBIT Margin suggest significant challenges in cost management and operational efficiency.22
Negative
Balance Sheet
The company exhibits a very high Debt-to-Equity Ratio due to negative equity, indicating potential solvency issues and high financial risk. Negative stockholders’ equity suggests accumulated losses outweigh assets. The equity ratio is also unfavorable, reflecting weak capital structure stability.15
Very Negative
Cash Flow
There is a negative Free Cash Flow, showcasing cash outflows exceeding inflows, which can strain liquidity. The Operating Cash Flow to Net Income Ratio is unfavorable, reflecting cash flow challenges. Although there is some improvement in Free Cash Flow, the overall trajectory remains concerning.25
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 11.88M | 12.06M | 12.75M | 11.78M | 11.16M | 9.30M | Gross Profit |
| 2.86M | 2.55M | 3.30M | -381.00K | 4.46M | 4.40M | EBIT |
| -35.78M | -54.03M | -62.80M | -71.56M | -63.70M | -72.83M | EBITDA |
| -37.15M | -49.77M | -55.80M | -59.59M | -59.66M | -67.56M | Net Income Common Stockholders |
| -53.46M | -61.62M | -62.49M | -77.70M | -78.21M | -84.31M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 166.48M | 13.22M | 45.56M | 63.62M | 68.27M | 108.45M | Total Assets |
| 185.26M | 31.37M | 65.02M | 83.05M | 93.42M | 134.42M | Total Debt |
| 120.07M | 39.22M | 77.54M | 111.11M | 149.98M | 134.07M | Net Debt |
| 53.81M | 27.08M | 42.63M | 71.22M | 114.20M | 73.06M | Total Liabilities |
| 127.89M | 51.25M | 87.28M | 118.12M | 156.24M | 141.80M | Stockholders Equity |
| 57.38M | -19.89M | -22.26M | -35.07M | -62.81M | -7.38M |
| Cash Flow | Free Cash Flow | ||||
| -26.99M | -41.23M | -49.28M | -47.93M | -51.76M | -65.12M | Operating Cash Flow |
| -26.88M | -40.20M | -48.73M | -47.32M | -50.39M | -64.79M | Investing Cash Flow |
| -619.00K | 8.66M | 12.42M | 8.30M | 13.61M | 52.81M | Financing Cash Flow |
| 27.75M | 9.02M | 31.63M | 43.23M | 11.63M | 6.82M |
Accelerate Diagnostics Technical Analysis
Negative
1.14
Price Trends
1.17
Negative
1.43
Negative
1.44
Negative
Market Momentum
-0.04
Negative
44.44
Neutral
58.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AXDX, the sentiment is Negative. The current price of 1.14 is above the 20-day moving average (MA) of 1.13, below the 50-day MA of 1.17, and below the 200-day MA of 1.44, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 44.44 is Neutral, neither overbought nor oversold. The STOCH value of 58.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AXDX.
Accelerate Diagnostics Risk Analysis
Accelerate Diagnostics disclosed 52 risk factors in its most recent earnings report. Accelerate Diagnostics reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Accelerate Diagnostics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Performance Comparison
AXDX
Accelerate Diagnostics
1.14
0.09
8.57%
QDEL
QuidelOrtho
37.29
-9.53
-20.35%
CDNA
CareDx
18.40
7.38
66.97%
Accelerate Diagnostics Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -3.39% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed view with several positive achievements such as progress in clinical trials, FDA clearance for new systems, and improved gross margins. However, these were balanced by challenges like decreased net sales and ongoing net losses. The strategic focus on innovation and market leadership is promising, yet financial metrics indicate areas needing attention.Highlights
Clinical Trial Progress for WAVE System
The clinical trial for the WAVE system and Gram-Negative testing menu is on track with external site enrollments meeting expectations. Submission to the FDA is anticipated in Q1 of 2025 with a review timeline of approximately 9 months.
FDA 510(k) Clearance Obtained for Arc System
The Arc system, which includes the blood culture kit, received FDA 510(k) clearance. This platform is designed to reduce diagnostic turnaround times in clinical settings, especially for conditions like sepsis.
Increased Gross Margin
Gross margin was approximately 29% for the quarter, a significant increase from approximately 3% in the same period in the prior year. This was driven by product mix and an inventory write-down in the prior period.
Reduction in SG&A and R&D Expenses
SG&A expenses were reduced to approximately $5.6 million from $7.8 million, and R&D expenses were reduced to $3.8 million from $7 million compared to the same period in the prior year.
Strong Reduction in Cash Used
Cash used for the quarter was approximately $5.5 million, with a strong reduction in cash used from operations down over $2 million quarter-over-quarter.
Lowlights
Decrease in Net Sales
Net sales were approximately $3 million for the quarter, down from approximately $3.3 million for the same period in the prior year, primarily due to lower instrument sales.
Ongoing Net Loss
The net loss for the quarter was approximately $14.6 million, resulting in a loss per share of $0.59.
Company Guidance
In the third quarter of 2024, Accelerate Diagnostics, Inc. demonstrated significant advancements and provided detailed guidance on their strategic initiatives. The company reported net sales of approximately $3 million, a slight decrease from $3.3 million the previous year, but saw a high single-digit increase in consumable-related product sales. Gross margin improved to 29% from 3% due to favorable product mix and inventory adjustments. Selling, general, and administrative expenses were reduced to $5.6 million, with research and development expenses also decreasing to $3.8 million, reflecting a focus on lower third-party development costs for the WAVE program. The company's net loss was reported at $14.6 million, equating to a loss per share of $0.59. Despite these financial metrics, Accelerate Diagnostics highlighted strong progress in the clinical trial of their WAVE system, on track for FDA submission in Q1 2025 with a review timeline of approximately nine months. Additionally, their recent FDA 510(k) clearance for the Accelerate Arc system marked a pivotal achievement, promising reduced diagnostic turnaround times and improved antimicrobial stewardship, while their commercial strategy aims to secure long-term contracts and expand market reach beyond the U.S. and EMEA regions. The company maintains a cash burn target of $5 million per quarter, anticipating sufficient operating cash through the end of 2025, contingent upon third-party product partnership payments.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.