Revenue Growth
Total first quarter revenue increased 28% to $7.2 million, marking the tenth consecutive quarter of meeting or exceeding guidance.
Service Revenue Increase
Service revenue increased 64% year over year, setting a quarterly record.
Gross Margin Improvement
First quarter gross margins were 6%, representing a 33 percentage point improvement compared to the prior year quarter.
Successful System Placements
Three GrowthRx systems were placed in Q1, with 165 cumulative global placements, including 146 fully validated systems.
Collaboration with MilliporeSigma
Promising start to the collaboration, with global co-exclusive rights to sell the GrowthDirect system and related consumables.