- Invitae ( NYSE: NVTA ) has reaffirmed its 2022 financial guidance as the medical genetics company's Q2 2022 results beat on both the top and bottom lines .
- Invitae ( NVTA ), however, swung to a quarterly loss of ~$2.5B (-$10.87 per share, diluted) from net income of $133.8M ($0.53 per share) in the year-ago period.
- The reason for the swing was a $2.3B asset impairment charge in Q2. That caused total cost and expenses to skyrocket.
- Revenue of $136.6M was a ~17% year-over-year increase.
- Regarding guidance, Invitae ( NVTA ) expects a low double-digit growth rate for its full year 2022 revenue compared to 2021. Over the longer term, the growth rate is expected to be 15%-25% after 2023.
- Read why Seeking Alpha contributor Bill Maurer is bearish on the stock .
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Invitae maintains 2022 financial guidance as Q2 results beat on top and bottom lines