- DermTech ( NASDAQ: DMTK ) is down 35% in Friday morning trading after saying it expects to end 2022 with financial results below its guidance range.
- The company did not elaborate on how much below that might be. Consensus estimates for the year are as follows: revenue, $18.14M; normalized EPS, -$3.97.
- While DermTech ( DMTK ) missed on the top line, it beat on the bottom .
- In Q3 2022, the company saw its net loss widen 43% to ~$28.8M compared to Q3 2021.
- Revenue of ~$3.6M was a ~18% year-over-year increase.
- Assay revenue of $3.4M was a 16% increase from the year-ago period.
- The company ended the quarter with cash and cash equivalents of ~$95.5M, a 46% decline from Dec. 31, 2022.
- Seeking Alpha views DermTech ( DMTK ) as a hold with high marks for revisions and valuation .
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DermTech plunges 35% as company expects to finish 2022 below guidance range