![]() This small increase was the result of higher professional services fees paid in the first quarter, partially offset by a decrease in the second quarter driven by cost savings efforts. SG&A costs excluding non-cash stock-based compensation were $16.5 million year to date, compared to $15.8 million from the same period of the prior year. Selling, general, and administrative (SG&A) costs year-to-date were $22.2 million, compared to $26.9 million from the same period of the prior year.The decline in gross margins resulted from ongoing pandemic-related impacts to manufacturing costs and other factors. Gross margin was 28% year-to-date, compared to 37% from the same period of the prior year.Growth was driven by increases in both capital and recurring revenues. Net sales were $6.8 million year-to-date, compared to $5.3 million from the same period of the prior year, or a 28% increase.After this transaction, approximately $56 million of the original $172 million convertible debt remains due. Signed an agreement in August 2022 to exchange $50 million of convertible debt due March 2023 for a term loan due in five years with no cash interest due during the term.Net cash used in the quarter excluding financing was $13.6 million.Net loss excluding non-cash stock-based compensation expense for the second quarter was $13.8 million. Net loss was $17.8 million in the second quarter, resulting in $0.23 net loss per share.This increase was the result of investment in our next generation AST platform. R&D costs excluding non-cash stock-based compensation expense for the quarter were $7.0 million, compared to $4.4 million from the quarter of the prior year. Research and development (R&D) costs for the quarter were $7.6 million, compared to $5.7 million from the same quarter of the prior year.This decrease was driven by continued benefit from cost cutting efforts. SG&A costs for the quarter excluding non-cash stock-based compensation were $8.3 million, compared to $7.7 million from the same quarter of the prior year. Selling, general, and administrative (SG&A) costs for the quarter were $11.5 million, compared to $12.9 million from the same quarter of the prior year.The decline in gross margins resulted from inflation to manufacturing costs and other factors. Gross margin was 28% for the quarter, compared to 38% in the second quarter of the prior year.Net sales were $3.9 million, compared to $2.8 million in the second quarter of the prior year, or a 39% increase.contracted instruments in the process of being implemented and not yet revenue-generating. clinically live and revenue-generating instruments, with another 78 U.S. Ended the second quarter with 316 U.S.Added 8 contracted instruments and brought 3 instruments live in the U.S. ![]() These are exciting times for our company." "Our global commercial partnership with BD comes at a time when the hospital selling environment is improving, we are firing on all cylinders in R&D and are taking meaningful steps to improve our balance sheet. "In addition to a solid quarter, I am pleased to announce that we will be joining forces with Becton Dickinson to commercialize our products globally," commented Jack Phillips, Chief Executive Officer of Accelerate Diagnostics, Inc. (Nasdaq: AXDX) today announced financial results for the second quarter for the period ended June 30, 2022. 15, 2022 /PRNewswire/ - Accelerate Diagnostics, Inc. Pre-paid expenses appear last for that reason.TUCSON, Ariz., Aug. The company's current assets are listed from most liquid to the least liquid. The balance sheet below shows that ABC Co. Credits received this way are discounted according to any existing contractual terms. If necessary, a company can terminate pre-paid contracts and request refunds for amounts it has pre-paid. Compared to other current assets such as cash and accounts receivable, pre-paid expenses have low liquidity because they are difficult to convert into cash and their cash benefit is usually delayed. Pre-paid expenses are categorized as current assets because they are used, replaced or converted into cash within a normal operating cycle, typically 12 months. Examples include pre-paid insurance, rent paid in advance, as well as legal and security services. Pre-paid expenses are intangible assets a company has already paid for and expects to benefit from in the short term. Growth & Transition Capital financing solutions Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) Industrial, Clean and Energy Technology (ICE) Venture Fund
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |