- Invitae press release ( NYSE: NVTA ): Q3 GAAP EPS of -$1.27 misses by $0.43 .
- Revenue of $133.54M (+16.7% Y/Y) beats by $2.16M .
- GAAP gross margin was 12.4%. Non-GAAP gross margin was 45.9% as compared with 40.1% in the second quarter of 2022 and 35.6% in the third quarter of 2021
- Cash, cash equivalents, restricted cash and marketable securities of $596 million as of quarter end.
- Outlook: The company expects a low double-digit growth rate for its full year 2022 revenue over 2021. Non-GAAP gross margins are expected to be in the range of 42-43% for full year 2022.
- Invitae is reducing its full year 2022 cash burn guidance to $585-625 million, an improvement from its previous guidance of $600-650 million. This guidance includes cash to be used for realignment activities and severance of up to $75 million in 2022, which remained unchanged from the previous estimate.
For further details see:
Invitae GAAP EPS of -$1.27 misses by $0.43, revenue of $133.54M beats by $2.16M