NEW YORK – Molecular diagnostics companies Natera, Guardant Health, Exact Sciences, CareDx, GeneDx, Tempus AI, Castle Biosciences, QuidelOrtho, and Hologic reported preliminary earnings results for 2024 on Sunday and Monday.
Natera reported that preliminary revenues for the fourth quarter of 2024 rose approximately 52 percent year over year to $472 million from $311 million in the same quarter last year. Its projected full-year revenues grew 56 percent to approximately $1.7 billion from $1.1 billion in 2023.
The Austin, Texas-based company said that these numbers reflect test volumes of approximately 792,800 tests for the quarter and 3,064,600 test for the full year, corresponding to year-over-year increases of nearly 27 percent and 23 percent, respectively.
Guardant Health's Q4 2024 preliminary revenues were approximately $200 million, an increase of 29 percent over the same period of 2023, the company reported on Monday. The firm said it reported approximately 57,300 clinical tests (excluding its Shield colorectal cancer screening test) and approximately 11,050 biopharma tests, an increase of 24 percent and 16 percent, respectively.
The company also ran about 6,400 Shield screening tests, which brought in approximately $4 million in revenues. Its full-year revenues are expected to total about $737 million, an increase of 31 percent. Guardant reported approximately 206,700 clinical tests excluding Shield and approximately 40,500 biopharma tests in 2024, an increase of 20 percent and 35 percent, respectively.
Exact Sciences on Sunday said that its preliminary Q4 2024 revenues were up 10 percent year over year at $713 million. This included $553 million in screening revenue, a 14 percent boost over the same period of 2023, and precision oncology revenue of $161 million, essentially the same as in the prior-year quarter.
For full-year 2024, Exact saw total preliminary revenues of $2.76 billion, up 10 percent over the prior year, or 11 percent excluding COVID-19 testing. Its 2024 screening revenue was about $2.10 billion, an increase of 13 percent year over year, and its precision oncology revenue was up 4 percent at $655 million.
CareDx said that it expects fourth quarter revenues between $85 million and $86 million, an increase of approximately 30 percent over the same quarter last year. The Brisbane, California-based company expects full-year revenues of $332 million to $333 million.
Testing services volume grew about 14 percent, driving an approximately 35 percent increase in anticipated testing revenues of $62.5 million to $63.5 million, the company said.
CareDx said that it expects to end the year with approximately $261 million in cash, cash equivalents, and marketable securities. The company anticipates full-year 2025 revenues of $370 million.
GeneDx anticipates revenues of at least $92 million for Q4 2024 and at least $299 million for the full year, corresponding to year-over-year increases of 59 percent and 54 percent, respectively.
The Stamford, Connecticut-based company pinned its Q4 growth on a 32 percent year-over-year rise in exome and genome test volumes, which amounted to approximately 20,676 tests processed, and a 93 percent year-over-year rise in corresponding revenues to at least $75.8 million.
Tempus AI on Monday reported approximately $200 million in preliminary revenue growth for the fourth quarter, or 35 percent year-over-year growth. The firm anticipates 30 percent growth for genomics revenues and 45 percent growth for data and services revenue in Q4. For full-year 2024, the Chicago-based firm reported $693 million in preliminary revenues, representing approximately 30 percent year-over-year growth.
Castle Biosciences on Sunday said it expects to meet or exceed the top end of its full-year 2024 revenue guidance of $320 million to $330 million, but didn't offer specific preliminary revenue numbers for 2024.
The company delivered 24,071 total test reports in the fourth quarter of 2024, compared to 20,284 in the same period of 2023, an increase of 19 percent. For the full year, the company reached 96,071 total test reports, up 36 percent from 70,429 in the same period of 2023. The firm expects to report $120 million in year-end cash and cash equivalents and $173 million in marketable investment securities.
QuidelOrtho announced on Monday that its preliminary fourth quarter 2024 earnings were in the range of $702 million to $707 million, in line with the firm's prior guidance.
For the fourth quarter ended Dec. 29, analysts had on average estimated revenues of $698 million for the San Diego-based company.
QuidelOrtho said its preliminary Q4 2024 non-respiratory revenues were approximately $561 million to $563 million, while its estimated respiratory revenues were $141 million to $143 million.
Hologic announced on Sunday that its preliminary fiscal Q1 revenues were up about 1 percent year over year to $1.02 billion compared to $1.01 billion a year earlier. The company said that the results are expected to be in line with the company's previous guidance, despite headwinds from a stronger US dollar.
The company expects its Q1 diagnostics revenues will rise to $470.6 million from $447.8 million a year earlier. When COVID-19 testing is excluded, the firm expects organic diagnostics revenues of $422.9 million compared to $388.1 million in fiscal Q1 2024. The firm's breast health business revenues is expected to fall about 2 percent year over year to $369.1 million from $377.7 million. Its GYN Surgical Health revenues, however, are expected to rise 3 percent to $166.3 million from $162.2 million. The firm's skeletal health business revenues, meanwhile, are expected to fall 38 percent to $15.8 million from $25.4 million a year earlier.
Hologic also reported that it expects GAAP and non-GAAP diluted earnings per share to be near the high end of the guidance range that it published on Nov. 4. At that time, the company said that it expects fiscal Q1 2025 GAAP EPS to be in the range of $.81 to $.84 while non-GAAP EPS was expected to be in the range of $1.00 to $1.03.