Cue Health reports Q2 EPS (55c), consensus (50c)

Reports Q2 revenue $9.9M, consensus $13.4M. “We achieved the top-end of our guidance in the quarter, and expect to return to growth in the second half of the year. We achieved the industry-first FDA De Novo authorization for over-the-counter use of our COVID-19 test, a positive signal for our menu expansion objectives. These include our combination Flu + COVID molecular test and our standalone RSV test, both of which are now under FDA review,” said Ayub Khattak, Chairman and CEO of Cue Health. “Another recent achievement driving our momentum is our new contract with BARDA to develop a Flu + COVID + RSV multiplex test for over-the-counter and point-of-care use. We continue to make good progress on our sexual health menu, with the EUA for our mpox test and our chlamydia & gonorrhea molecular test, which is on-track to submit to the FDA in the fourth quarter. These milestones, together with the early positive signs we’re seeing from Cue Lab and Cue Pharmacy, gives us optimism and confidence in the future of the Cue Health platform.”