SMFR - Sema4 reports Q3 earnings beat; reaffirms FY22 and 2H guidance

• Sema4 press release ( NASDAQ: SMFR ): Q3 GAAP EPS of -$0.20 beats by $0.10 .
• Revenue of $83.23M (+92.8% Y/Y) beats by $15.49M .
• Adjusted gross margin in the third quarter of 2022 was 20%, with the pediatric and rare disease franchise generating an adjusted gross margin in excess of 40% in the quarter.
• 19% pro forma volume growth vs. 3Q 2021 and 21% pro forma revenue growth vs. 3Q 2021.
• Sema4 is maintaining the previously issued full year and second half 2022 reported revenue guidance of $245-255 million vs. consensus of $241.94M and $154-164 million, respectively.
• Sema4 is also maintaining the previously issued full-year and second-half 2022 adjusted gross margin guidance of 4-9% and 15-20%, respectively.
• The business moving forward is on a path to provide: Annual revenue growth in excess of 20% over the next several years; an adjusted gross margin profile in excess of 50% in the near-term; a turn to profitability in 2025.

• "We also expect the actions we have undertaken will enable us to more than double our run rate gross margin profile exiting the third quarter and reduce our annual cash burn by greater than 50% in 2023."

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