Burning Rock expects new product registration certificates in coming quarters
Company anticipates sustainable and meaningful top-line growth over the long term
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 with last year
Company's operating expenses declined 3% yr/yr due to cost controls
Key details
Metric
Actual
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
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 research and development services revenue dropped 31.8% due to decreased testing for pharma customers
BNR•
