Centogene Q3 top-line up 212%, raises FY20 guidance

 

• Centogene (NASDAQ:CNTG) reports Q3 results:
• Revenues increased 212% Y/Y to €36.3M, driven by the continued expansion of its COVID-19 testing offering.
• Pharma revenues decreased 21%, while Clinical Diagnostics revenues (excl. COVID) decreased 25% compared to Q3 2019.
• Commercial COVID-19 testing contributed €27.4M in revenues in the quarter, up from €2.1M in Q2 2020.
• Cash flow used in operating activities of -€19.67M.
• Cash & cash equivalents of €28.8M.
• Segment adjusted EBITDA of €9.18M vs. €4.16M a year ago.
• FY20 guidance: Revenues guidance from €80M to greater than €100M.
• Update on corporate progress: Continues growth of new pharma partnerships, with 12 new deals signed and a robust recovery anticipated in 2021.
• During the quarter appointed, Dr. Andrin Oswald as Chief Executive Officer to support the next stage of the Company’s growth.
• Previously: Centogene reports Q3 results (Dec.16).
• https://seekingalpha.com/news/3644790-centogene-jumps-8-after-q3-top-line-up-212-raises-fy20-guidance