Burning Rock Biotech Ltd. ( (BNR) ) has released its Q4 earnings. Here is a breakdown of the information Burning Rock Biotech Ltd. presented to its investors.
Burning Rock Biotech Ltd., a company specializing in next-generation sequencing technology for precision oncology, has reported its unaudited financial results for the fourth quarter and full year of 2024. The company is recognized for its focus on NGS-based therapy selection testing for late-stage cancer patients and cancer early detection.
In its latest earnings report, Burning Rock Biotech highlighted a strategic shift towards profitability, with organizational optimizations underway. The company also noted significant advancements in its early cancer detection and therapy selection studies, including collaborations with major pharmaceutical companies like Bayer.
Financially, the company reported a 4.1% increase in quarterly revenues, reaching RMB126.0 million, driven by a 50.9% increase in the in-hospital business. However, annual revenues saw a slight decline of 4.0% compared to the previous year. Operating expenses decreased significantly by 30.3% year-over-year, contributing to a reduced net loss of RMB346.6 million for 2024, compared to RMB653.7 million in 2023.
The company’s gross profit remained stable, with a slight increase in gross margin to 70.3% for the year. Burning Rock continues to focus on expanding its in-hospital testing services and enhancing operational efficiency to drive future growth.
Looking ahead, Burning Rock Biotech is poised to continue its strategic initiatives aimed at achieving profitability, while furthering its research and development efforts in precision oncology. The management remains optimistic about the company’s growth prospects in the evolving healthcare landscape.