Thank you and thank you all very much for joining us today.
Before we begin, I would like to inform you that certain statements made by GenMark during the course of this call may constitute forward-looking statements.
Any statement about our expectations, beliefs, plans, objectives, assumptions or future events or performance are forward-looking statements.
For example, statements concerning our 2020 financial and operational guidance, the development, regulatory clearance, commercialization and features of new product, plans and objectives of management and market trends are all forward-looking statements.
We believe these statements are based on reasonable assumptions.
from not and performance the statements. uncertainties to materially are and involve actual statements expressed be risks result unknown that different these guarantees in and of known results or However, implied future such any may cause
factors the results differ SEC. those cause materially detailed in actual statements these forward-looking are could GenMark’s which from Important to in filings with
this and any or no obligation expressly or after forward-looking circumstances to assumes duty events. update disclaims the GenMark to reflect events statements reflect occurring unanticipated occurrence call to any of
you toward the of At financial time included: and revenue number review start our recent we that cash margin March two, strategic improvement highlighted beginning pandemic. with turn the that, for second XXXX. call three, in the with performance good face Ek, challenges development. to call our you're review So strong our we afternoon, early by our healthy everyone technology I'd we safe minutes today us. see to up and on our and to take then will pandemic. through and the three recent steps flow unprecedented the Johnny thank as thoughts for a significant priorities Q&A. on number gross of joined number one, like On I'll staying few We the continue hope These finish to all all our were XXXX. I'm positivity and operating efficiencies; next performance CFO. share Johnny deeper joining over call earnings menu for of and making with and global to just half COVID-XX we growth;
of to have growth, While half priority key circumstances. top of they've and strategic prior this and million, throughout those up respect first our has anticipated line priorities committed done QX remained global driving health $XX.X we year the With revenue XXX% of delivered first and crisis, this the to strong results so was our versus under extraordinary team remarkable could duration not depth year.
Our in XX installed of XXX Placements quarter for base ahead second for the included year. grew customers. by analyzers of the customers, new of at the second end our taking this the XXXX over quarter, approximately to half new plan first to total XX well XX
instruments While year in higher this outside stated drive were reposition the underutilized these our to of few as primarily we a units U.S. quarter, did objective and identified part the placed internationally. annuity earlier
global deliver this ePlex on address many others opposed as recurring target positioning focused revenue commercial long-term syndromic molecular is with that like to tests come streams. single to consistent will to provider that remain Our as market teams tests This placements recently diagnostic product driving a of have so our pandemic.
our base has pandemic COVID-XX footprint, to to the accelerated to While critically prior installed vital play were syndromic and continue return environment. role when panels in a patients more normal a we diagnosing our ill will
to transitioning tests. using for may and ePlex customers begun Our teams respiratory are COVID-XX who only our have BCID
of XX% than streams XXXX volumes. COVID-only our contracted demonstrating versus our and/or in more QX for our success RP of revenue end panels, enduring are the of our as creating placements fact, In already BCID
expectations volumes and company incorporated of global relatively last level this COVID-XX panels along will to blood important revenue business to ID a established and of culture are increased year priority. which term. and in for continuing resources. our BCID that reflects testing customer quarter, ability and during XX% demonstrating the testing, rate and to acceleration Even are ePlex the flow expect area with pandemic, address gross the platform the respiratory our focus are In with driver This history on completed have of seen Year-to-date, successful of I'm we validations XX% adoption to profitability and we equally an revenue performance longer our demand about driving strategic and this our tremendous excited is the and in progress efficient for way. meaningful to infections respiratory existing and We leverage cost-effective of priorities the we generated COVID margin end demand panels that the cash our Beyond second margin growth increasingly impact approximately first is come. stream new the of customers happy time guidance revised confident improvement today. we're model considering blood second years encouragingly the over at for BCID company's adoption an gross the we've we our our XXXX the in was of which for from progress we our accelerate. positive of tracking goal our be disclosed many and in key we
manufacture to the margins. consumable and committed to continuing goal gross are stated ePlex progress our our XX% in reducing of make cost We to remain
do half teams Our the on increased line manufacturing beginning improvements of we more remainder are are in for back expectations several be to in and our with a anticipate chain work XXXX. our that are supply and reductions projects in additional the capacity supply has year. line engineering of perspective, to our this XXXX From not instrument plans constraint implementing yield significantly of expected in teams cost and a those instruments with
focus expansion our plans. ePlex consumable Our manufacturing executing primary is
additional flu are enable two We the ePlex of in increase will adding to the lines that us substantially in upcoming capacity our of process season. support
produce operational. step-up and expect first with our another per the approximately square newly a distance be building is in to our an newest constructed. take located to the short This beyond lines locations. are foot of to the that house large manufacturing exit the XXX,XXX enough additional Combined when current line tests next four two to these being is capacity lines constructing expected month secured XXXX facilities, existing from facility then in we a quarter XX,XXX currently are XXXX We
our obvious priority. menu expanded third technology to health have towards initiatives and supporting immediate priority global our this and development, of been care crisis Turning an
and that a launched pivot commercialize first that XX quick develop ePlex COVID-XX and March, or common syndromic of ePlex test in we to end cause to RPX and developed June, and rapid At often bacteria provides A the COVID-XX, serious not stand-alone common the detection infections, our of addition but and results commercialization. respiratory including rhinovirus viruses In to one cold. our RPX panels and of RSV submitted panel EUA we began influenza a and limited B, the
such development bringing the to approval advantages. flu winter as produce the fever, quickly fall of can market body We EUA RPX season as similar is panels diagnose with future. as aches expect cough in COVID-XX. RPX provide we of patient critical that panel and placed coincides pathogens pathogen a syndromic our and believe near in a very will be We symptoms. advancing these results it Many causing key the to symptoms ongoing and a rapid priority tool and this diagnostic has a risk competitive of number what
during into to Regional have Center patients. And implementing reduced are with management into panels an RPX just turnaround ePlex a gaining they to hospitals have their today, Center area requiring days panel results analytical Health time XX% their transition mid-July. hours. for from a on And sample that that waited particular the insert of she her tested momentum RPX the of A using RPX negative In with result to in Within results detection indicated minute positive located as Graham hands-on the two like market reducing and back potentially result to limit home. for customer's the results is help negative ensure Regional in the to reports common the is their or of addition seven cartridge Regional cartridge indicated Graham such as resource from treating able Medical improved rhinovirus instrument. simply not test to two An being would that that fastest sample-to-answer is community began but critical hours time includes so panel. receive west was they Health RPX you back they to They to versus at our work two as spiked Medical example staff for cold come and to the to them medical reported We've hospital on heard when to of and us ePlex the as knowing which COVID-XX treat fever, soon ill our one a studies nurses our their surge that availability Dallas. of RPX recent Vidant test recently XX under recovered. to molecular patients less the networks shared getting in was was point hours large alone in one using ePlex she confidence pipe RPX she all and critically patients fever. one view, now by since days bring in given workflow The her Northwell improved work the Graham technology directly delivers the their her of sent for helping COVID-XX life-saving to hit staff. COVID-XX using RPX patient This have delivers to pandemic. under cause without of multiplex
sick or information the for for the the importance providing of recent those long illness. can of efficiency way these Steven flu with upcoming season. Hahn that Commissioner timely diagnostic panels sample tests one He the SARS-CoV-X combination article comprehensive just unknown panels an syndromic FDA respiratory to Additionally, can a with include a and swab commented information provide go highlighted that about in
on and now Beyond have returned COVID panel we RPX, future our GI technology development. focusing to and
top supply progress continue our to have to on adopted we commitment, our While that make remains platform. customers this to ePlex test priority
panels came commitment goals. a because lines a I'll extensive and better unexpected XXXX provide original appreciative the presented customers of transformed proud upcoming I'm has consequences. but and sacrifices deliver to with and to and develop, role play relative the rapid long-term our on challenges resilience are only for has of to our to prioritizing enable making delays but customer needs care our our been more on distribute the forever our pandemic, patient health correct to helping are some GenMark this COVID-XX, able supporting of the together market decision while their And we support very the those patients to of and and our outcomes calls. we've extraordinary believe in extraordinary is and the to because manufacture, we experiencing not details and been work Undoubtedly, Given team importantly, tests, patients. response on demand demonstrating hard plans, employees front global
sight in school the losing face of access has sincere spread been key ones long-term that we loved of limited such ongoing to childcare, challenges thanks for team express caring daily our light in pandemic, drive is in and closings, of corporate simultaneously achievement unwavering priorities Our our our our also the support This their my against their dedication. I growth. fight the no this and not ultimately to to small want the while lives as to support
committed out to rigorously workplace are that, call financial and safety and measures Johnny our to I'll carrying by keeping We quarter employees a of with our over safe deeper healthy review second turn And for the results. guidelines.
