Burning Rock Biotech's Q2 revenue falls, net loss widens on central laboratory weakness
Burning Rock Biotech's Q2 revenue falls, net loss widens on central laboratory weakness
Overview
China precision oncology NGS firm's Q2 revenue fell 9% yr/yr, driven by lower pharma and lab volumes
Net loss for Q2 widened compared to last year
Company's operating expenses declined 3% yr/yr due to cost controls
Outlook
Burning Rock expects new product registration certificates in coming quarters
Company anticipates sustainable and meaningful top-line growth over the long term
Result Drivers
CENTRAL LAB TEST VOLUME - Revenue from central laboratory business fell 10% due to fewer tests as co continued its transition toward in-hospital business
IN-HOSPITAL SALES GROWTH - In-hospital business revenue rose 7.4%, driven by increased sales volume
PHARMA SERVICES DECLINE - Pharma research and development services revenue dropped 31.8% due to decreased testing for pharma customers
Company press release: ID:nGNX500vw5
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| RMB 134.70 mln |
|
Q2 Net Loss |
| RMB 18.40 mln |
|
Q2 Adjusted Gross Margin |
| 74.30% |
|
Q2 Gross Profit |
| RMB 97.80 mln |
|
Q2 Operating Expenses |
| RMB 115.80 mln |
|
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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