NanoString Clocks 17% Revenue Growth In Q4

NanoString Technologies Inc NSTG reported Q4 FY21 sales of $42.45 million, 17.1% Y/Y, beating analysts' average estimate of $41.5 million.

• "We delivered a strong finish to 2021, generating more than 70 Q4 instrument orders across GeoMx and CosMx," said Brad Gray, president & CEO.
• This year, the company plans to drive GeoMx into mainstream research, launch the CosMx spatial molecular imager, and integrate both products with a cloud-based informatics portal, he said, while continuing to grow sales of the nCounter platform.
• Instrument revenues reached $17.6 million, +15%. Revenues from GeoMx Digital Spatial Profiler were $11.9 million, up 27%, and revenues from nCounter instrument were $5.7 million, down 5%.
• Consumables revenues amounted to $19.9 million, up 20%, including $6.1 million from GeoMx DSP consumables, more than double Q4 2020.
• The installed instrument base grew to 255 GeoMx DSP systems and 1,050 nCounter Analysis systems as of Dec. 31.
• Nanostring's Q4 EPS loss was $(0.64), higher than the consensus of $(0.59).
• The company ended 2021 with $107.1 million in cash and cash equivalents and $241.8 million in short-term investments.
• Guidance: NanoString expects FY22 total product and service revenue of $170 million - $180 million, representing a Y/Y growth of 18% - 25%.
• It expects revenues from GeoMx DSP of about $73 million - $78 million, up 41% - 50%, and revenues from nCounter of $97 million - $102 million, up 5% - 11%.
• Price Action: NSTG shares closed higher at 0.23% at $35.54 on Tuesday.