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Accelerate Diagnostics (AXDX)
NASDAQ:AXDX
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.5Last Year’s EPS
-$0.79Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -41.12%
|Next Earnings Date:Feb 25, 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.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.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.
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AXDX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AXDX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $1.97 | $1.83 | -7.11% |
| Aug 08, 2024 | $1.42 | $1.45 | +2.11% |
| May 08, 2024 | $0.90 | $0.87 | -3.33% |
| Mar 28, 2024 | $0.99 | $0.89 | -10.10% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Accelerate Diagnostics (AXDX) report earnings?
Accelerate Diagnostics (AXDX) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Accelerate Diagnostics (AXDX) earnings time?
Accelerate Diagnostics (AXDX) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AXDX EPS forecast?
AXDX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.5.
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