NanoString Technologies Inc. (NASDAQ: NSTG) posted sales of $42.45 million in the fourth quarter of FY21, up 17.1% year-on-year, beating analysts’ average estimate of $41.5 million.
- “We ended 2021 strong, generating over 70 instrument orders in the fourth quarter on GeoMx and CosMx,” said Brad Gray, President and CEO.
- This year, the company plans to integrate GeoMx into mainstream research, launch the CosMx spatial molecular imager, and integrate the two products with a cloud-based computing portal, he said, while continuing to increase sales of the nCounter platform.
- Instruments revenue was $17.6 million, up 15%. GeoMx Digital Spatial Profiler revenue was $11.9 million, up 27%, and nCounter instrument revenue was $5.7 million, down 5%.
- Consumables revenue was $19.9 million, up 20%, including $6.1 million from GeoMx DSP consumables, more than double the fourth quarter of 2020.
- The installed instrument base grew to 255 GeoMx DSP systems and 1,050 nCounter analysis systems as of December 31.
- Nanostring’s fourth-quarter EPS loss was ($0.64), above consensus of ($0.59).
- The company ended 2021 with $107.1 million in cash and cash equivalents and $241.8 million in short-term investments.
- Advice: NanoString expects total FY22 product and service revenue to be $170 million – $180 million, representing 18% to 25% annual growth.
- He expects GeoMx DSP revenue of around $73-78 million, up 41%-50%, and nCounter revenue of $97-102 million, up 5%-11% .
- Price action: NSTG shares closed up 0.23% at $35.54 on Tuesday.
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