Invitae reports Q2 EPS (30c), consensus (37c)

Reports Q2 revenue $120.5M, consensus $120.2M. “In the Q2, we continued our steady march toward becoming a profitable business while continuing to serve our patients and clients. We performed well in non-GAAP gross margin and cash burn trajectory as both continued to show meaningful improvements. On a pro forma basis, total revenue was up approximately 1% year-over-year. Rare disease, women’s health and our data business all posted strong double-digit revenue growth during the same period. Despite solid volume growth in our hereditary cancer tests, oncology sales were impacted by lower-than-expected insurance payments and lower fee-for-service revenue,” said Ken Knight, president and CEO of Invitae.