Accelerate Diagnostics Preliminary FY23 Revenue Down

(RTTNews) - Accelerate Diagnostics Inc. (AXDX) reported that its preliminary revenue for the fiscal year 2023 declined to about $12.1 million from last year's $12.8 million, due to a challenging capital sales environment in all sales regions.

Annual revenues for consumable products increased by approximately 5% from the previous year.

The company said it secured approximately 65% of current U.S. Pheno customers to multi-year contracts for rapid susceptibility testing, reflecting customers' commitment to Accelerate rapid AST technology and interest in Wave.

Accelerate expects to announce full-year 2023 financial results in advance of its earnings conference call in March 2024.