Sean. you, Thank
Start Before consolidated results consolidated our into in I that of to quarter, I'd everyone Good like eight Genetics Xth. closed only the quarter of contribution we acquisition out our results for dive Because this to August the details Start, that remind for the business. for addition believe on it provide the is Good base weeks breaking most our to financial quarter from informative in
Start's do provide the With the what so Invitae's take we'll that as We future such and better like we in we not results would it Additionally, quarter. to intend at for results do understand useful regularly on the this of in color look breakout business this expected quarter looked background in Good be let's but to closer fourth the acquisition. a would a have results analysts is given quarter believe the how to financial the can our thought some recent contribute investors integration future.
well. it base business Sean our and performed a indicated, was strong quarter As
including growth accessioned XXX% quarter. of basis We volume. consolidated we XX,XXX XXth the see but volume, double not consecutive in a Start digit only our reflects growth continued also quarter to approximately of year-over-year Good growth. solid over This in samples On
reflecting you a base Invitae over can our strong digit business, XX,XXX the over and XXX% at double samples accessioned second more quarter. see improvement prior Looking improvement the year than
XX% factor to was growth biopharma X,XXX is new to nearly second accessioned since Start Xth, Ongoing to contributed seen volume. approximately adjusted was previously The Good services. the our volume screening of compared the habits. and of expanded in an clinical was Good the on to for approximately volume Good have clients carrier in provide quarter. areas Start's testing continued XX% non-oncology existing volume all offering a passing ECS Start third ECS accounted Semaphore's carrier to agreement or screening ordering X,XXX test August sample samples drive attributed Importantly, the Good termination growth of in acquisition, Start quarter relied approximately fourth X,XXX accounts. in samples of volume, their biggest and number across for expanded partnerships that quarter time while At
to a came them in $X.X Revenues expect increase consolidated period. and XX% reflecting an $XX increase able the We million basis, Invitae's introduce quarter over Start's more we're contributed will year Good ECS business reported second complicated. at third period contribution over year quarter. until million quarter base overall prior $XX.X to XXX% a a the offering. approximately on the the bit over a is Good approximately the prior remain for increase volume million during the a Start's depressed. XXX% revenue
For recognized in the we approximately revenue. eight acquisition, $X.X following weeks million
to the addition the test Invitae million close. prior however, related $X.X allow cash recognize acquisition; not of $XXX,XXX build U.S. to In the related close approximately reported tests the to received cash GAAP revenue on these of prior to collections to us to does
As towards accounts not our quarter future in time revenue of the receivable acquisition point. this increases does count a $XXX,XXX any the result, at the or and
these prior of additional to remaining and or XXXX. the the collect occurring expect of Xth, we to cash rest during two quarter test approximately fourth first occurring quarter ahead, the an collections with customers X.X based XX% from August conducted million Looking in for
anticipate quarter lesser we on of two revenue our and impact XXXX. to similar results quarters our extent So, on first a fourth a
For of acquisition reference down the from of revenue million. purposes about quarter $X.X would accounting approximately $X.X for treatment, the quarter full Start X% revenue have excluding million approximately been Good second impact
collections, number late we work signed to continue year. through process large contract significant of payer a the to Moving operationalizing last of
by on rolled progress a Anthem's improvements offset bit see implementation we was this which While at were front, July. AIM
a but of have for quarter. Sean long-term did net it this impacts $XXX,XXX As indicated, on positive the is about negative us
effort that has impressive. The of we Finally, been June. you result billing recall this in in-house will brought
for several we operational have of first three vendor the achieved the operating efficiency the Within months, over third-party years. already
to for X% base from $XXX some of volume production quarters, further third-quarter well COGS continued representing cost Good approximately last the and consolidated Over came sold enabled for see in rates team quarter. improvement reduction amounts. per about coupled year-over-year Invitae's goods we improvements next expect business few billing collection sample. in as our Strong sample, of a XX% improved Start an including with per operations at as and collection
COGS the This year. base Looking million through $X.X to realized reduce integration On Start term, profits and profit million from quarter a In of gross of the in near to significant of longer-term, the we third transfer improve gross the including have XXXX expect of in opportunities $X synergies COGS further the the Good consolidated million third our production next business. consolidated basis, XXXX. to full we the quarter increased negative $X includes in Invitae's business. of nearly from operations
business noting of accounts gross Our consolidated worth gross a margin acquisition revenue. was XX% It's the and revenue our classified margin. margin XX% the our consolidated as Start time increase of Good receivable was profit gross that Invitae achieved excludes an in and $XXX,XXX that base and not gross calculation at
across in I of Invitae $XX.X incurred volume and leverage the XXX% selling operating delivered margin to excluding were XX%. were at would revenue general growth test improve. approximately XX% leverage of remain reference expenses margins research drove our Despite we For to expenses. XX% consolidated offset operating gross that Start in XXXX We of improvements cost were have and We marketing administrative gross million expenses purposes, nearly long-term limiting which reported of confident expenses, year-over-year acquisition been million XX% third higher were $X in continues all costs has about recognized. been in by increases costs. In development and Good of target XX% expense our the XX% and operating our to these quarter while reiterate would reach ability platform.
million with in million $X.X For amortization expenses depreciation equaling expenses this the quarter, million $X Good expenses note, acquisitions approximately operating intangibles expense. this also the associated in included included stock-based And Non-cash was compensation Start the third million. Of of to $X.X including non-cash approximately in due amortization of our the acquisition. three equipment $X.X quarter. and completed year, $XXX,XXX approximately included
to this to rate this included only made be this final Start, should approximately for Good the to we points in P&L. the expect fourth quarter's $XXX,XXX quarter. increase understand As partial Two quarter
Company approximate offset the an non-voting was tax per in shares are loss liability. the average principally weighted value due net $X.X for The the fair an on ended shares additional include the deferred XX.X cash during pipe the to the to and million used preferred acquisition impact equaled in of loss used computing with quarter quarter shares to million the recognizing shares to Start $XXX.X August dilutive tax This negative of approximately marketable the their of had issued shares share, $XX.X quarter. and related financing an acquisition, the million million the relating exclusion income approximately goodwill not second, for consequence additional common the net $X.XX And intangibles from with to in equal concurrent pipe the equivalents does conjunction We proceeds shares preferred approximately First, there of Start due Good acquisition-related securities. the the of with includes with extinguishment financing. that reflects the recorded the Good completed the acquisition. thus tax benefit the cash, of the effect, net in $XX.X in closing million of debt
related to our continue the we business to anticipated cash decrease. base As burn see
burn, cash Start flow, positively and term of contribute end to the of by believe burn from business burn integration million, we The quarter short for base anticipate the consolidated In a acquisition cash was increase to reach the million basis. was flow we breakeven $XX.X related on that and XXXX. will Good to CombiMatrix the Our longer decrease Sean? this proposed second expenses a $XX.X the acquisition term, of million acquisition quarter. us $X allowing
