some growth welcome highlights, on discuss half and to guidance. quarter I underlying balance Oliver, the business will you, conclude drivers position, XXXX call. and sheet our for on briefly everyone thoughts second with and and the Thank the first
to in the excited while in sales expanding first Gene the to Oliver second the approximately yet Later We to revenue internationally. include a within discussed to of $XXX,XXX AMR or as the sales year, from of increase million. be product a in with this of Compared To did clear, Acuitas $X.X in quarter in the product June. $X in the revenue late second commercial sales increase panel the quarter Unyvero year-over-year. the closed for is QX of $XXX,XXX to XXXX second a in to We US. XXX% are increased The of million The contract in in product which U.S. an months instruments million quarter in Unyvero our sales increase attributable product as announce for well any out to pool U.S. our increasing XXXX. added have of as increase last not Oliver sales primarily quarter revenues revenue, revenue was from to increase increase of approximately compared close six signed period the significant sales. is XXXX Menarini, our by $X.X in due previously sales XX% discuss second a and product half the this up first will time call, XXXX, pipeline
second $X.X in quarter to increasing June we to XX, our the decreased operating XXXX, addition million of XX% also nearly almost the expenses In to by $X three compared ending months million XXXX. our revenue, for
by the comparable expenses more million this from of than saw $XX.X in the XX% six months first period half to XXXX, million XXXX in a $XX operating For we of year. decrease in the
million, expenses primarily XXXX. down of expenses R&D QX payroll-related first XX% the to were XXXX by a in in million $X.X $X.X in of to were reduction. first XXXX $X.X quarter the decreases compared million second $X.X half half million The decrease from costs. R&D of were XXXX, Our XX% a in due
services. or R&D teams shifting NGS efforts be sequencing Our our focus proven next-generation focus lab successful, in towards smaller towards addition and efficient and more future to to our increasingly has commercial
million quarter $X.X In allowed about corresponds XX% which G&A reduce following of us our expenses. the of G&A decrease Leveraging down QX G&A XXXX XX% from expenses of $X.X business of completion the of our Second $X.X synergies million, year. to by expenses million, a XXXX to the first G&A amounted about of expenses million. has first half the previous from half were to $X.X in integration XXXX,
half quarter marketing XXXX first $X.X XXXX million and XXXX. to first second sales $XXX,XXX in and half Second the million were expenses of during and respectively, $X.X compared the of and $X.X million quarter
sales overall and team, to We expand our crucial driving expanding and development as are in partnerships they our business revenue. continuing are
in also internationally and return well in improved seen the live spend interact. here customer the increased return exhibitions in-person as conferences has marketing to of much US, We have as also which for contributed and access
net Turning to our loss.
decreased significantly our have year. same the in We last XXXX time second quarter compared to of loss the
versus we cash the end decrease to with of cash XXXX approximately monitor company million. of to The was $XX.X by to our all This year improved with was the US at in share the compared $X.XX share, on cash basis. per the a ended $XX.X net stockholders $X.XX continues closely of contributed current effective XXXX operating or much on million, cost The $X.X R&D XXXX. burn second than the revenues, our or $XX.X share common half US share expenses second gross a position Our a year Increased position, loss million per half operations $X.XX first and which rate. side available net in XXXX. $XX.X XXXX its to $X.XX improved margins substantially in results. more our $X.X was European in this quarter or quarter and dollar the or XXXX, loss the significantly have which million off of in per dollar G&A of per lower is has million much reinforced million Finishing euro stronger and reduced made
EIB this tranches €X.X mentioned tranches the tranche principal remain and agreed the that over agreement As We million two in installment €fX Curetis are April XXXX call, accumulated approximately originally XXXX. of remainder the XXXX There million XX debt point our the period Bank, XX over on to due €X the become payments and in April the due subsidiary with monthly June additional last and Investment earnings million, deferred next amortize June repaid XXXX, respectively. began interest and months our XXXX April for debt May At €X European has the of plus in in these tranche EIB. million until by unchanged and of months.
June, million additional company entered ATM into in strengthen Additionally year and strategic sell the approximately the allowing new continue agreement to $XX.X Company worth of further to its opportunities explore up a tactical balance equity the company in of sheet. shares H.C. financing remainder debt throughout will stock. with and common its to Wainwright, to the
call, earnings well $X previous net $X at our track track cash our in record around million this per million operating an consumption. operations. for to line consumption remain anticipate against cash our year expenses We with that continuing mentioned As our expected of and guidance expectations from net our in yearly quarter
announced $XXX,XXX month. see outflow the cash an of restructuring expect per approximately Following we recently to debt, EIB our of additional
the up especially growth lined for here deals in Genetics XXXX remain potential US that with We continuing opportunity beyond. collaborations. second about to the product which funnel, see optimistic would with with development we to contribute has several collaboration strong half and in and and revenue business Ares each partnering services a of are Ares growth sales
be positive with IVDR to distribution growth international multiyear has revenue into prior line the The to expect given of product of quarter. second on to new this Unyvero and in which outside the the US effect IVD year. continue we is coming rate for in XXXX produced came Our the period sold, business, products continue any the CE for marking May our focused
coming Pan-European than more months minimum. two in XXXX distribution last the the significantly in contract by fifth XX increased partner, April overall end XX% coming Our starting by commitments and to Menarini by year minimum of XX%, the years, the for compared contract years
deal in the revenue value agreement increments period. Additionally, continuous be Life over an of This million Qatar one-year stream. option the Leader agreement to a UAE with has revenue for distribution $X Sciences a and initial our extended in has total in three-year
the the Group contributing another With of growth onwards. addition third we partnership recent XXXX the added with commercial quarter be in Kosovo, distribution deal have to Keis to expected a revenue from
AMR in a of continued Gene quarter expect progress the year-to-date, XXXX of of and result our product second commercial growth Unyvero acute rollout and we in As the Panel. the
pipeline we this already with with two on have are and the year access. focused June signed increase AMR as commercial progress. customer number and direct the and first discussions commercial our expanding This hospitals the We several panel July Gene expect to ongoing progressing agreements in year and for
once to range consumable clinical fully as Just typical in acuities range annum revenue $XX,XXX into implemented the expected a the reminder, per screen. these for routine $XXX,XXX in accounts recurring is
our trial submissions We and are products. regulatory clinical update looking IJI invasive joint to forward and for or infections, UTI Unyvero
the readout trial progressed to As of an mentioned, data FDA submission. XXXX looking has UTI clinical we are upcoming towards second half throughout year the previously an this in forward and
also are initiation platform a multi-center the clinical towards IJI. trial advancing We on Unyvero in of US prospective AXX for the
longer-term Our include Ares strategic partnerships. Genetics collaborations expanding the goals and for
to lab diagnostics and of the pharma. in multiple beyond. We help weeks launch the look organizations opening upcoming ongoing Maryland and services us XXXX solutions commercial have NGS and with to Rockville, service forward for our in leading with We coming US here of consultations NGS, in in the
and be compared XXXX product for to range expect around globally services XX% growth our We a of from revenue year. in somewhere to last
significant Genetics direct gain and sales revenues related in additional Ares from the traction in US and collaborations services in software to acceleration solutions. expect We
for up facility June million approximately would commenced we ATM The to to the XXXX. mention that At Market, Additionally, in like $XX.X sales
option sell an The from common the Market stock. time-to-time of shares have At in to We offering
Oliver Oliver? proceeds upcoming around in with the sold $XX,XXX shares I'll to-date. X.X in discuss to to shares and million that, to call XXX,XXX of net company's achievements for and July modest approximately milestones. With remained level August turn back sold the close activity for million approximately Our $X
