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DermTech (DMTKQ)
OTHER OTC:DMTKQ
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 0.00%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
DermTech demonstrated significant financial and operational improvements, including increased ASP, cost reductions, and positive study results. However, challenges such as decreased sample volume, payer reimbursement issues, and high operating expenses remain. While optimistic about future payer coverage and cost management, volume declines and financial sustainability present ongoing concerns.Company Guidance
During DermTech's Fourth Quarter 2023 Earnings Call, the company provided several key metrics reflecting its financial and operational performance. Notably, the Average Selling Price (ASP) for the DermTech Melanoma Test (DMT) rose by 55% year-over-year, while test revenue saw a 38% increase. The company also achieved the highest gross margin in six quarters. DermTech reported a reduction in annualized operating expenses by approximately $40 million compared to 2022, following restructuring actions. The Medicare proportion of billable samples reached a record high, contributing to the ASP improvement. For 2024, the company anticipates flat to modestly down test volumes in the first half, with an ongoing focus on ASP and revenue growth. Additionally, DermTech's total operating expenses for 2024 are projected to be around $80 million. The company maintains a cash runway into the first quarter of 2025, with cash burn expected to decline to $55 million to $60 million annually, representing a 40% decrease from 2022.Significant Increase in Average Selling Price (ASP)
The ASP for the DermTech Melanoma Test (DMT) grew 55% year-over-year, indicating successful pricing strategies and payer coverage improvements.
Record in Medicare Proportion of Billable Samples
The company reported an all-time high in the Medicare proportion of billable samples, increasing sequentially from 27% to 28%.
Cost Reduction and Financial Improvements
DermTech announced restructuring actions leading to an expected reduction in annualized operating expenses by approximately $40 million compared to 2022, with a 32% decrease in net loss while test revenue increased by 38%.
Positive TRUST 2 Study Results
The TRUST 2 study reaffirmed the DMT’s real-world clinical utility with a high negative predictive value (NPV) of 99.7% to rule out melanoma.
Favorable Coverage Decisions and Legislation
New favorable coverage decisions from Blues plans and legislative efforts in 14 states mandating insurance coverage of genomic testing show positive momentum in payers' acceptance.
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DMTKQ 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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DMTKQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Aug 06, 2024 | $0.04 | $0.04 | 0.00% |
| May 14, 2024 | $0.64 | $0.57 | -10.94% |
| Feb 29, 2024 | $1.28 | $0.87 | -32.03% |
| Nov 02, 2023 | $1.40 | $1.48 | +5.71% |
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 DermTech (DMTKQ) report earnings?
DermTech (DMTKQ) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is DermTech (DMTKQ) earnings time?
DermTech (DMTKQ) earnings time is at Feb 27, 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 DMTKQ EPS forecast?
Currently, no data Available
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