Why NanoString Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
NanoString Technologies, Inc. (NASDAQ:NSTG) has released a preliminary update for Q2 2023, expecting revenues to exceed $44 million, a YoY growth of approximately 37%. The company has also retained more than $30 million in the CosMx instrument order backlog, despite a competitor's attempt to scare off customers. The company's spatial biology revenue is expected to be over $23 million, and nCounter revenue is expected to be approximately $21 million. The company reiterated its full-year revenue guidance of $175 million-$185 million.
July 10, 2023 | 11:50 am
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NanoString's Q2 2023 revenues are expected to exceed $44 million, a YoY growth of 37%. Despite a competitor's campaign, the company retained over $30 million in CosMx instrument orders. The company's spatial biology revenue is expected to be over $23 million, and nCounter revenue is expected to be approximately $21 million.
The company's expected revenue growth and the successful retention of a significant amount in instrument orders despite competitor challenges indicate a strong financial performance. This is likely to positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100