Solid Clinical Revenue Growth
Clinical revenue grew by 16% year-over-year, with organic clinical revenue increasing by 13%, driven by a 10% increase in test volumes and a 3% increase in AUP.
NGS Testing Expansion
NGS testing accounted for 32% of total clinical revenue and grew by 23% over the prior year, demonstrating strong market expansion.
Record High Test Volumes
The company reported a record quarter for test volumes, indicating robust demand and operational capacity.
Launch of PanTracer Liquid Biopsy
The PanTracer liquid biopsy is set to launch, expected to positively impact the NGS growth rate later in the year.
Cash Flow and Debt Reduction
Cash flow from operations was a positive $20 million, an improvement of 44% over the prior year, and the company significantly reduced debt by retiring $201 million in convertible notes.