LMDX - LumiraDx down 15% following Q2 financial results on lower COVID testing activity
- LumiraDx ( NASDAQ: LMDX ) is down 15% in Thursday afternoon trading after its Q2 2022 results missed on the top and bottom lines .
- The adjusted net loss of $147.1M compared to consensus estimated loss of $63.5M.
- Revenue of $44.7M, a ~49% year-over-year decline, missed the consensus of $53.1M.
- Lumira's Q2 gross margin of 12% missed the estimated of 37.8%.
- LumiraDX ( LMDX ) also recently initiated a restructuring program. In July, the Bill & Melinda Gates Foundation disclosed a 7.4% passive stake in the company .
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LumiraDx down 15% following Q2 financial results on lower COVID testing activity