HTGM - HTG Molecular Diagnostics expects FY22 revenue above consensus

• HTG Molecular Diagnostics ( NASDAQ: HTGM ) expects FY22 total revenue to be ~$6.4M, including ~$2.7M of HTG Transcriptome Panel (HTP) revenue representing 42% of the total revenue.

• Consensus revenue estimates for the year ended December 31, 2022 is $5.69M.

• Cash and cash equivalents are ~$12.2M as of December 31, 2022.

• “While our full year revenue did not show the level of recovery anticipated in 2022, we believe that our Q4 and full year results reflect positive trends. First, we are encouraged to see revenue grow by nearly 95% from the third quarter to the fourth quarter of 2022. This revenue includes both orders from customers who have previously adopted our technology and are regularly reordering kits and services, as well as orders from new customers. The year-over-year revenue also reflects an increase from 2021 to 2022 of $1.3 million of HTP revenue, demonstrating growing demand for this potentially transformational product. Second, our preliminary cash and equivalents position shows a strengthened balance sheet. As we look toward the rest of 2023, we are hopeful a leaner profiling business will continue to provide value to our customers, driving quality revenue and further adoption of our technology while supporting our therapeutics initiative,”said John Lubniewski, CEO of HTG.

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