NanoString preliminary Q2 revenue $44M, consensus $41.38M

Revenue is expected to be over $44M, representing year on year growth of approximately 37%, above the upper end of its guidance range of $40M to $42M and the consensus revenue estimate of $41M Spatial biology revenue is expected to be over $23M. nCounter revenue, inclusive of all service and other revenue, is expected to be approximately $21M. “We are excited to report that our teams delivered strong preliminary revenue results for the second quarter, with preliminary results exceeding consensus estimates and the upper end of our guidance ranges,” said Brad Gray, president and CEO of NanoString. “Customers are focused on the potential for spatial analysis to advance science, and value the RNA-plex and protein capabilities our spatial platforms provide. During Q2, a competitor launched a campaign using a ruling in the Munich regional court to try to frighten customers to cancel orders for our CosMx Spatial Molecular Imager, even though the preliminary ruling was limited to Germany. Despite this challenge, through the strength of our technology and the hard work of our team, we fulfilled or retained approximately 97% of our cumulative CosMx instrument orders and captured orders for new CosMx instruments at a faster pace than in Q1.”