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Complete Genomics Reports $4.2M in Third-Quarter Revenue


This article has been updated to correct the operating expenses for the third quarter of 2009.

As it is preparing for its initial public offering, Complete Genomics this week reported $4.2 million in revenue for the third quarter, along with a net loss of $20.5 million.

The company had no revenue during the third quarter of 2009, and a $9.25 million net loss.

As previously stated, Complete Genomics had $9 million worth of backlog orders as of Sept. 30, for which it expects to bill customers within the next 12 months.

The company had operating expenses of $14.9 million during the quarter, up from $8.6 million during the year-ago quarter. As of Sept. 30, it had $10.5 million in cash and cash equivalents.

Last month, Complete Genomics raised its maximum aggregate offering price for its planned IPO to $96.6 million, from an earlier target of $86.25 million (IS 10/26/2010).

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