GenMark Diagnostics Delivers Preliminary Operational and Economical Final results for 2020

• Overall profits for 2020 is predicted to be around $171 million, representing an increase of close to 95% around 2019
  • ePlex^(R) income for the comprehensive year 2020 is expected to be approximately $152 million, an improve of 155% above 2019

• Overall profits for the fourth quarter of 2020 is envisioned to be close to $50 million, symbolizing an boost of 84% in excess of the fourth quarter of 2019
  • ePlex earnings for the fourth quarter of 2020 is predicted to be somewhere around $45 million, an boost of 138% more than the fourth quarter of 2019

• Gross margin is predicted to be approximately 39% for the fourth quarter of 2020 and between 39% and 40% for the comprehensive 12 months 2020

Operational Highlights

• Positioned 70 web new ePlex analyzers in the fourth quarter of 2020, ending the yr with an mounted foundation of 792 ePlex analyzers placed around the globe
  • ePlex mounted base grew 50% yr in excess of year

• Fourth quarter annuity was somewhere around $220,000 for every analyzer, compared to around $148,000 in the fourth quarter of 2019

• Improved manufacturing ability by more than 75% vs . prior calendar year with the completion of the initial of two new manufacturing traces during the quarter

“Fourth quarter demand remained incredibly solid, driven by our ePlex RP2 and blood culture ID panels that offer broad pathogen coverage and simplified workflow with fingers on time of 1 moment or much less,” stated Scott Mendel, President and Chief Executive Officer. “Throughout the quarter, we validated the 1st of our two new ePlex manufacturing traces that boosts our manufacturing capability to close to 160,000 ePlex assessments per thirty day period and we stay on keep track of to validate the 2nd line in the very near long term.”

“With multi-12 months contracts that include things like committed volumes, GenMark has designed an enduring and recurring profits stream that supplies visibility to driving ongoing major line progress in 2021. I’m happy of the entire GenMark group, as we remained committed to our vital priorities and shipped amazing benefits in the course of the whole 12 months underneath amazing instances,” concluded Mendel.

These preliminary benefits are centered on management’s preliminary evaluation of functions for the quarter and year finished December 31, 2020 and are subject to even more internal critique and audit by the company’s exterior auditors. The business expects to concern entire 2020 economical success and 2021 guidance in late February.

About GenMark Diagnostics
GenMark Diagnostics (NASDAQ: GNMK) is a primary service provider of multiplex molecular diagnostic solutions made to enrich individual treatment, strengthen essential high-quality metrics, and reduce the overall price tag-of-treatment. Using GenMark’s proprietary eSensor(R) detection know-how, GenMark’s eSensor XT-8(R) and ePlex(R) units are built to guidance a broad variety of molecular diagnostic tests with compact, quick-to-use workstations and self-contained, disposable take a look at cartridges. GenMark’s ePlex: The True Sample-to-Remedy Resolution(TM) is built to enhance laboratory efficiency and handle a wide array of infectious ailment tests requirements, which include respiratory, bloodstream, and gastrointestinal bacterial infections. For additional details, check out www.genmarkdx.com.

Forward Hunting Statements
This press release involves ahead-looking statements with regards to events, trends and small business potential clients, which may have an impact on our future functioning outcomes and monetary placement. This sort of statements, like, but not constrained to, those concerning our preliminary, unaudited money and operational overall performance, envisioned raises to our ePlex production capability, and the timely Food and drug administration clearance and commercialization of further ePlex panel menu, are all subject to challenges and uncertainties that could lead to our actual success and monetary position to vary materially. Some of these risks and uncertainties include, but are not limited to, our capability to properly validate added ePlex production strains and commercialize our ePlex procedure and its associated examination menu in a timely fashion, constraints or inefficiencies prompted by unanticipated acceleration and deceleration of client demand from customers, our capability to effectively broaden sales of our product choices outside the house the United States, and third-occasion payor reimbursement to its consumers, as very well as other pitfalls and uncertainties explained underneath the “Risk Aspects” in our general public filings with the Securities and Trade Commission. We assume no obligation to update or revise any forward-hunting statements to mirror gatherings, trends or situation just after the date they are built.

Investor Relations Get in touch with
Leigh Salvo
(415) 937-5404
[email protected]

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