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Singular Genomics Systems, Inc. (OMIC)
:OMIC
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-8.1Last Year’s EPS
-9.6Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 09, 2021
|% Change Since: -13.71%
|Next Earnings Date:Aug 03, 2021
Earnings Call Sentiment|Neutral
The earnings call reflects a strategic pivot towards spatial sequencing with strong interest and progress in technology development. However, financial performance remains challenged with negative gross profit and a significant net loss. Cost reduction measures and increased consumable sales are positive signs, but the sentiment remains cautious.Company Guidance
During the earnings call for Singular Genomics' Q2 2024 results, the company outlined several key metrics and strategic updates. The company reported $0.7 million in revenue for the quarter, with $0.4 million stemming from consumable sales and $0.3 million from a single capital purchase instrument placement. Despite a gross profit of negative $0.2 million, operating expenses decreased to $22.6 million, down from $27.5 million in Q2 2023, driven by reduced headcount and noncash expenses. The net loss was $21.3 million, translating to $8.57 per share, compared to a $25.6 million loss or $10.58 per share the previous year. Singular Genomics highlighted significant advances in the development of the G4X Spatial Sequencer, emphasizing system reliability with a 95% uptime and a consumable pull-through that doubled from Q1 to $60,000. Furthermore, the company successfully negotiated a lease amendment that reduced long-term obligations by approximately $50 million, enhancing financial flexibility with an ending cash position of $133.2 million. Looking forward, they plan to roll out an early access program for the G4X late in the year, with a commercial launch anticipated in Q2 2025.Launch of G4X Spatial Sequencer
Progressed development of the G4X Spatial Sequencer with novel capabilities, including Direct-Seq, aimed at addressing throughput limitations in spatial biology.
Increased Consumable Pull-Through
Average annualized consumable pull-through for the installed base was approximately $60,000 in Q2, which was roughly double Q1.
Cost Reduction Initiatives
Successfully amended a long-term lease obligation, reducing lease obligations by approximately $50 million, enhancing financial flexibility.
Reduction in Operating Expenses
Operating expenses for Q2 2024 totaled $22.6 million, down from $27.5 million in Q2 2023, due to reduced headcount and noncash expenses.
Strong Interest in G4X
Over 50 applications received for the G4X Spatial Research Grant award program, indicating strong interest in the technology from top institutions globally.
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OMIC 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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OMIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $22.97 | $22.53 | -1.92% |
| Aug 13, 2024 | $7.12 | $7.30 | +2.53% |
| May 14, 2024 | $12.89 | $11.40 | -11.56% |
| Mar 18, 2024 | $16.42 | $15.41 | -6.15% |
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 Singular Genomics Systems, Inc. (OMIC) report earnings?
Singular Genomics Systems, Inc. (OMIC) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Singular Genomics Systems, Inc. (OMIC) earnings time?
Singular Genomics Systems, Inc. (OMIC) 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 OMIC EPS forecast?
OMIC EPS forecast for the fiscal quarter 2024 (Q4) is -8.1.
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