Accelerate Diagnostics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 05:04 pm EST
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Accelerate Diagnostics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 3.3 million compared to USD 2.96 million a year ago. Net income was USD 0.91 million compared to net loss of USD 15.9 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 1.83 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to diluted loss per share from continuing operations of USD 1.83 a year ago.
For the nine months, sales was USD 9.03 million compared to USD 9.78 million a year ago. Net loss was USD 48.62 million compared to USD 47.88 million a year ago. Basic loss per share from continuing operations was USD 4.13 compared to USD 6.21 a year ago. Diluted loss per share from continuing operations was USD 4.13 compared to USD 6.21 a year ago.
Accelerate Diagnostics, Inc. is an in vitro diagnostics company engaged in providing solutions for the global challenges of antibiotic resistance and sepsis. Its Accelerate Pheno system and Accelerate PhenoTest BC kit combine several technologies aimed at reducing the time clinicians must wait to determine the optimal antibiotic therapy for deadly infections. The United States Food and Drug Administration (FDA) cleared system and kit fully automate the sample preparation steps to report phenotypic antibiotic susceptibility results in approximately seven hours direct from positive blood cultures. The Accelerate PhenoTest BC Kit, which is the first test kit for the system, is indicated as an aid, in conjunction with other clinical and laboratory findings, in the diagnosis of bacteremia and fungemia, both life-threatening conditions with high morbidity and mortality risk. Its other products include Accelerate Arc system and BC Kit (Accelerate Arc Products) and Accelerate Wave system.