The following is a summary of the Accelerate Diagnostics, Inc. (AXDX) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Accelerate Diagnostics, Inc. reported Q2 2024 net sales of approximately $3 million, compared to $2.9 million in Q2 2023.

• Gross margin for Q2 2024 was approximately 23%, a decrease from 27% in Q2 2023, influenced by product mix.

• Net loss for the quarter was approximately $11.6 million, with a net loss per share of $0.50.

Business Progress:

• Successfully completed preclinical trials with Wave platform, demonstrating a strong performance and readiness for clinical trials.

• Advanced Wave platform to clinical trial phase, with system installations at four external sites and necessary Gram-Negative test kits manufactured.

• Secured approximately 75% of U.S. customer base in longer-term contracts ahead of the Wave commercial launch.

Opportunities:

• Expansion into the isolate susceptibility testing market, which is expected to potentially grow existing customer annuities by 3 to 4 times.

• Application of holographic imaging technology in other areas of diagnostic testing to further expand the addressable market.

Risks:

• Continuing development and commercialization of the Wave system, which involves significant financial expenditure and operational execution.

More details: Accelerate Diagnostics IR

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