HTG Announces Preliminary Fourth Quarter and Full Year 2017 Unaudited Financial Results and Provides Initial 2018 Revenue Guidance
TUCSON, Ariz., Jan. 04, 2018 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) (HTG), a provider of instruments, reagents and services for molecular profiling applications, today announced preliminary and unaudited financial results for the fourth quarter and full year ended December 31, 2017, and provided initial full year 2018 revenue guidance.
Preliminary 4th Quarter and Full Year 2017 Unaudited Financial Results and Revenue Guidance for 2018:
- Total revenue for the fourth quarter of 2017 is expected to be between $6.9 and $7.2 million, an increase of 373% to 394% over the fourth quarter of 2016.
- Total revenue for the full year 2017 is expected to be between $13.8 and $14.1 million, an increase of 169% to 175% over total revenue for the full year 2016.
- Collaboration revenue drove fourth quarter and full year 2017 revenue. Operating expenses for the fourth quarter are expected to be slightly higher than operating expenses in the third quarter of 2017 on an absolute dollar basis. Gross margin and net loss in the fourth quarter are expected to be improved over the third quarter of 2017, primarily as a result of collaboration profit-sharing revenue expected to be recognized in the fourth quarter.
- Cash and cash equivalents are expected to be approximately $10.0 million as of December 31, 2017.
- HTG is providing initial revenue guidance for the year ending December 31, 2018 in the range of $20.0 to $25.0 million.
Category: Press Releases