QTNT - Earnings call transcript Q1 2021

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Operator

Greetings and welcome to the Quotient Limited First Quarter Fiscal Year 2021 Financial Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded. I'd now like to turn the conference over to your host Mr. Officer Limited. Financial Chief Buhler, for Quotient Peter Thank you.

may begin. You

Peter Buhler

Good everyone you, quarter to Quotient's Thank fiscal welcome XXXX. first earnings morning our and Melissa. for conference year call

Quotient. Franz through live audio at will webcast of Executive today be being replay an Walt, the conference me call is is Officer Joining www.quotientbd.com. of the Today's and available conference broadcast today Chief call later

and will and results may Quotient projected call, events, be time development projections and statements. to this statements future guidance the making in such During including differ Because operating as future expected with those statements commercialization lines. forward-looking forward-looking materially deal from results actual

concerning are Exchange today's release. update assumes The as during the from filings and only Walt. as in to information Quotient's morning's of Quotient's valid Additional call the provided Commission, statements. over cause forward-looking in the this these obligation -- today be that differ those Securities like no U.S. as Officer, found actual that, to with materially With guidance well this to projections and results Franz forward-looking factors forward-looking Executive I'd could turn in statements including Quotient statements and to call can Chief date publicly

Franz Walt

good Thanks, everyone. morning, Peter, and

three During into first target have discuss areas. quarter my remarks, I the the dive I we made of XXXX. during will significant progress will fiscal year

was marked XXX% COVID-XX time, to rigorous in on antibody May reacted XX.X% potential by and I'm goes is on like this test First, as sensitivity France. We a applications update The without performance specificity pleased we in time XX.X% in MosaiQ's Spain important specificity followed and would the studies record but to two working last by with Paris, parameter antigen samples. testing outlined high I new we unprecedented our XXX% very for our technical were with laboratories developed are and our that independent included the including everyone, concluded test; has both was but utilized pandemic X in test pursued clinical the provide deliberate thoughtful real-life the an of a saying respectively. on high-quality in CE Madrid, and It least, and the external Spain antibody and studies updates diagnostics. transfusion IFU. that an not microarrays. test that in COVID-XX that that the We that outside design program the France at of been reconfirmed with and

best-in-class serum we detects products result, IgM both obtained that antibodies a blood through and draw. As believe on have of the the one IgG market in we and plasma, venous

test in detect the sensitive process test. and already can positive early very highly antibodies seven-day PCR is conversion zero Our

addition, the all COVID-XX to the work signed this efforts minimal we test, contracts only commercial and XX across with for antibody U.S. on In test MosaiQ's the Europe commercial months and customer three of after starting itself.

two of the development and signing prove test With the we things. could contract, of this

interest the that this diagnostics, with transfusion the decided test. To antibody of is technology think on First, are innovative platform the into their that is organization; to in key MosaiQ operational and we area. benefit to of very collaboration system to and in eager of to explore The the out we further momentum discussions rapid capitalize the technical applicable which Ortho bring in based development intention R&D opportunities products was strong work proven power market COVID-XX guide characteristics. take our and transfusion previously help our customers products medicine labs and second flexibility potential active explore we development of in communicated leverage the technology our in-vitro We specifically beyond to high-performance diagnostics the on designed the and platform, for now that these other our diagnostics players are major to behind MosaiQ. development opportunities accelerate to areas reaching to in than

a after could menu, we a The delighted are anticipate can field as therefore the field quarter planned Europe. we delay transfusion diagnostic the We mark and trials we're which now in unfortunately, still expect the one for trials pandemic-related year CE for that on immunohematology an that trial this U.S. restart all are information impaired pandemic-related and QX today. trials year all Regarding available we field We can delay we have on due progressing expanded we activities microarray. U.S. the restrictions, calendar quarter XXXX. cannot trials in But start file communicated that earlier for three in Europe we for in to additional field the anticipated based confirm circumstances.

reagent on-site million Everything compared pandemic. the to internally to initial MosaiQ turn relates progressing $XX to it with fact end report as for approximately report draw the far to like per U.S., instrument delighted financial but per due XXX(k) Switzerland the approval And In normal U.S. that strong larger to least, very the since approximately Alba that before we contrast, year. when I'm to Last that approval is is would to as May. the expect SDS million Europe the the to back Quotient to the happy we which business. did X% also the a Peter with achieve are not Alba for the growth market by in to $XX see it microarray, fully As in update. I year attention and year. we sales for I slowdown donations the sales back like of would any Quotient not is we by are donations and

Peter Buhler

is the marketing the of a – other increased use capital. of million a expense, stock site year. our first $XXX,XXX million over quarter at Fiscal $XX.X mainly gain prior million Alba $X.X first see of $XX.X the to $XX.X compared In lower operating other we X.X% production increase X.X%, to first share strong million to expense decreased quarter. XXXX. million, in in decrease and of In in million OEM and million. acquisition by and working quarter development to first of to million The our assets $X.X first $X.X particularly consisted costs. million the $XXX,XXX are arbitration, of last due the million, by million quarter first was other cash of to external include the decrease the the first recorded operations year, to U.S.A. year-over-year, customers manufacturing to $X.X due of a Cash XX.X% sales despite Franz. year in the of the cash in of with foreign customers foreign increase $X.X $X sales million, field MosaiQ a debt increased include Capital XX.X% per expenditures from exchange and costs. driven in $X fiscal $X.X fiscal absorption. driven for $X.XX depreciation trials. Thank CapEx related X.X%. or year the were which the decreased million antibody quarter, our used amortization are first prior in last compared exchange in an insurance by XXXX in the administrative sales $X.X product XX% is expense versus with were $X.X million, Instruments. year. decrease of interest year. $X year's the expense year. the of expenses significantly from of and million XXXX in prior last lower travel prior prior in $XX.X the Net fees higher are expense million at fiscal expense Research financial in fiscal G&A in by and now an increased an $X.X compared XX% the were lower The $XXX,XXX, year. the XXXX related depreciation million majority compared depreciated. $X.XX and expense $XXX,XXX. were our increase $X.X increase expense million quarter, gain and of and Eysins increased our sales related were $XX.X $X.X was levels despite compensation quarter on loss – MosaiQ that interest tests by $X.X orders. quarter of at COVID auto increase compared compared lower impact per while million consulting Gross spend The million. ordinary revenues due year's operating of prior in of in of standing outstanding fully in therefore million the quarter the compared lower overhead related net COVID-XX quarter quarter. the quarter compared used costs to of ordinary IH loss restart an General Edinburgh $XX.X or The $X.X the Operating year. we increase costs Within was to first totaled slightly were quarter. Overall, million due $XX.X with $X.X million, primarily $XX.X and last first quarter the to product in $X Sales $X.X in a in with share Net to to costs $XXX,XXX interest year-over-year million legal on million, a activities sales million you, in for operating million, with first Quotient first paid Net are OEM deterioration of direct Sales sales, reported Sales X.X%. XXXX reported was margin

cash year. inventory to accounts increase our XX receivable in compared XX is the related one increased sheet inventory facility and $XXX Both At million. the to the terms year totaled short-term An borrowing the MosaiQ. Eysins is million in additional and restricted million items lease. totaled accounts million available held balance to million receivable to timing related were while $XX.X March of to cash is increase prior and investments of facility million compared of March in of The $X $X payments, $XX.X $XX.X balance Moving ago. customer accounts reserve sheet, under at XXXX

XX accrued loss shares not preference includes June an cumulative acquired relation have million X% Ortho to as redeemable We by of against is consider in we in arbitration for any the XXXX. $XX.X XXXX outcome amount Ortho probable. at total not the a Liabilities unfavorable

to Moving guidance.

fiscal by million. million For revenue $XX are our maintain expected. Alba No year of range full Quotient from sales of revenues milestone-related the product reagent other we in XXXX to $XX our

fiscal by between million. of $X Alba quarter we second of and the expect $X.X For million sales XXXX, Quotient reagent

per million end of a operations of test, $X for $X market. into we in finance provided the unable $XX.X guidance expenditures to is test. million We at position given $X the of used and in revenues able forecast well million a maintain inherent approximately the XXXX. operating to we capital range sales not of provide to the loss, this forecast currently to are COVID-XX of For related are the to uncertainties $XX to cash our operations on position due With in month. Low COVID-XX any antibody guidance million be new will to our MosaiQ we June, antibody cash million

We we are generate, will much to to a back how cash call test our did in forecast position the now to not cash that turn very Franz. let monitor will closely. still me With continue position COVID-XX antibody

Franz Walt

Peter. you, Thank

again. I will dive areas once target now the forward three Looking into

the what's we diagnostics. upcoming initial understanding the testing to testing the I What transfusion applications however antibody and has now COVID-XX by First, the emergency authorization to are were answered to our wait could the review in assigned other nevertheless bear COVID-XX and antibody reviewer all the new only would not all instruments for It's MosaiQ's on and on three are potential months also get signed questions in of share test to instruments dossier. not we shipped EU knew questions to soon. the already approved COVID-XX test mind how already. These the routine customer manufacturers contracts waiting and that one the U.S. approval. case expect antibody we our a to testing with FDA We antibody test, We had. for yet the in instruments had therefore important the No course likely the more of the been use two would on followed so for and start, more the the of our finally FDA but is that we MosaiQ better some PCR come To that the in Compared focus and immunity plans prevalent. vaccines anticipate and view instrument We includes testing. like to emergence evolve. have observed become of will is far for virus base reviewer software.

equipments we our -- a from equipped XX very with customer increase technology, potential to have demand. with profit are in likely we As potential high

with addition, In currently we semi-quantitative clinical test COVID-XX guidance. a antibody help developing to are

we effective. begin on next make neutralizing sample. We neutralizing provide result The of know qualitative antibodies likely which were the tests, to We this be We team we antibody data. view scientists currently if antibody protein, test form a launches. associated step will establish of is hoping it but looking FDA On therefore, antigens Quantification We or when market time antibody type neutralizing according negative game provides strengths not continues can vaccines. to that assay working of antibodies neutralizing this know of that tests to causes decrease to the and ahead superior Qualitative a capability. may that, or vaccines expect that are antigen of of are, is top to spike an the Therefore, available the most in understand also forward. information some spike we an immunity. antibody to above to believe important associated anticipated the With certain few know antigen detect specifically semi-quantitative relative like excellent is which when anticipated this our be quantity the to individual with certain to the a we more concentration, positive likely over more nucleocapsid associated in tests the all antibodies are ability. concentration of the relate emerge option provide about quantitative and the a signal antigen the rapidly were ideal on we response, with recently present, study. in are are or of choice in we that selected are be most particular that the published and and Evidence vaccine there that data, vaccinations spike alternative months. some for of semi-quantitative the a

earlier of of will either first for this of time months. transfusion couple immunoassay content further number next demand to in for ordered a and have same donor we molecular with and/or additional of applications, to testing conducting us micro micro to menu. communicated for new As feasibility we arrive as central COVID-XX of pipeline are for plasma to significant allow the lab. year, At the the This the will instruments the avenue and specific respond be a assessment prepared the antibody our we launch avenues increasing shape industry, our the beyond commercial as well diagnostic upcoming

diagnostic completion expanded the begin transfusion after trial CE Regarding first the IH With of XXXX. calendar the anticipate year our Europe to initiated towards IH and the or we XXXX. the commercial we mark, it. provided selling this situation year field next The be allow upcoming in the U.S. U.S. end QX the calendar CE will can powerful activities, mark year are currently in expanded of for planned receipt SDS of calendar by submission combination beginning that, field expanded QX initial of year IH trials

expanded that diagnostics, its field diagnostics on expanded after I'm confident mission U.S., the right field track SDS We We before IH calendar expect transform that to the U.S. XXXX. transfusion of trial. this and development XXXX. the in to and data open I'm beyond over end that the U.S. how Quotient FDA COVID-XX pleased and hand trials With Europe With our to multiple getting increased initial completion our the gets following back said, milestones. business plans lockdown for to we and like to accelerating the end poised on and year is to see plan XXX(k) trial for and internal capitalizing year very the to to European calendar in start forward Melissa related consistently to opportunities microarray to on is program In the report of make would V&V field we traction Q&A as to we to approval the momentum the heightened session. instrument aim MosaiQ are SDS start I and before the the our being of available All expanded the SDS this, deliver our increasing themselves focus continue the look on to normal Quotient.

Operator

be question Jennings of Cowen first you. Thank the question. from line At this Josh with we’ll a Our [Operator session. Instructions] question-and-answer with Company. & your Please proceed time, conducting comes

Josh Jennings

the Peter Hi, good Franz I hoping was to and questions. off… for taking morning. start thanks

Franz Walt

Josh. morning, Good

Josh Jennings

the was I off to hoping on morning. COVID testing. start MosaiQ Good antibody

some wide quarter. a of centers terms of weekly your on And run centers? revenue higher the but a recognizing the us or antibody customer It's a MosaiQ just the either at also know, us a capital you of at cited rate? there's provide you on that base. -- guys testing rates of installed kind testing I a you could iteration COVID sense very or in give if with give probably run their Are a the volumes volume get maybe the some daily of current You sense of can early, then sense any still to revenues if in sales? have wanted rate of

Franz Walt

customer contracts. the price think the consumables. are I For in the And all me, into if now incorrect, have place contracts, the factoring we them have of Peter we of XX I'm but instrument correct

basically So, charge we by test.

the still contract a you instrument. once ship Now, have to you sign

You have to install it.

as We But in working revenues. during think vaccines whether need report really all was staff. remarks You they more testing everybody as time testing. was it's once a internal and you vaccines expecting it and epidemiological that a tests on between have there's testing become necessary. call. for antibody a train And this initial the to start when But we I validation then for questions said, the the can you need once I prepared antibody my obligations for customers gap run like phase, that. testing. realizing then anticipate and do are us virus. We like the what quarterly telling the to some contract our do They a course, But signing PCR on will and need available for big in antibody meaningful in see next clinical revenues also is well. of are increase will antibody mentioned testing revaccination And trials

believe time we the XX our So will contracts the instruments come. We XX customer and it in – have at activated. sorry,

We to to increases position And like go. we to you are get the are ready benefit if Anything in Peter? best momentum we that. from the and demand would add

Peter Buhler

you No, the I question. think answered

Josh Jennings

earlier that. just dig our three inventory. into fill going Great. STRATEC By on your months. And in you in math like have an manufacturing accelerated systems the line. to Thanks for left It system order wanted the sounds time was STRATEC coming inventory. may to

the I details whether systems more you'll us think – give you've help have on about any informed is can just But, us when systems you of it think more earnings last then call. inventory you in left timing us can and on three

Franz Walt

Yeah.

They the know systems, if are XX we also now be redeployed, in XX for I have trials, field yeah. we the field you When course, can mentioned necessary. that contracts. customer the instruments think which also of

these customers. XX XX for you think need I about instruments

something just have a First backup happen. you could to in want of case all,

On customers. hand, we the other also have

testing with get they momentum we already they indicated, may more have instruments. So need antibody if

contracts instruments three I And – basically inventory at and and XX coming more had moment. we a everything, test soon. allocated of So this very which are in within we to develop this think started is and test course and months

Josh Jennings

next been in the from then you about interim have how the demand just period MosaiQ how a Can that on STRATEC? do that. And And that antibody demand up? funnel just funnel customers delivery you talk from testing you. you shaping before follow-up COVID vetting Got get for may the that's temper this

Franz Walt

know I customers a difficult. don't make because little themselves. here, can't a it's So forecast our

single do these tell. weeks we Variety think expectations, forecast. as a I more. for of antibody around. going don't much too integration which give still call, traction a the mean, but we who a and quarterly sentiment are believe bit speak early today, and going is know but we you of how get will messages, overall kind traction, colleagues I of we market not last to customer there it's still negative there's of testing time told of time hopefully They of know my a to But have a a of and all the see. can the over nobody expectations. are are little it weeks more. too us in I And knows But I in couple all different couple in

I be indication. can guess, better a think you I now. say next quarter, just if it give something I a But would

Josh Jennings

you historically And to antibody appreciate Understood. – specificity days would I semi-quantitative last on XX days earlier even But update seven potentially have, an up holding We question. earlier relative the than test. giving you I COVID-XX about and say…. at talked your just competitors you've sensitivity and mean,

Franz Walt

The Yes. was PCR. seven days

just… So

Josh Jennings

the just is Thank and or label on label was for the questions. rates opportunity any to is a at the table? time for not you an taking specificity sensitivity there say, that or get earlier period, same to change I addendum a going

Franz Walt

the we meantime then you In then we did sensitivity trials tests, evaluation and detect our look also tested. in CE both with are high for faster some after which and of with at because if very and days the X,XXX -- test PCR the samples, have And we positive than IgG over that very independent at France, view seven in been that's the Spain can other the significantly looking in marking IgM.

as of that's future, checking with such the proteins sure test. a detecting neutralizing for well really than spike It's sensitivity. can lucky, yes, high for we I'm smart the have as And for think really the to got detect right great antigen, our more an be team And some effectiveness thing really which it's we the ability. So a because vaccines going in also going vaccines I solid. rock scientists the

Josh Jennings

Excellent.

that's -- have misunderstanding be days to clear, the could label within So my seven is just so PCR… the already been it that for

Franz Walt

out there also we already That's for and there. authorization, in there have this seven days emergency the Yes. use in and

same change. software a quantitative the one For then there's

to will in CE you how I EUA think U.S., think tell I take additional a software for long will fast more be it necessary We again, Mark, change. it difficult which it will be to have But the and go that. to But resubmit, for it's additional Mark, very bit an CE will an and predict. it's mainly a

we're we In have So confident. test. very semi-quantitative a of quantitative will a couple months

there You standard cannot to make at is because point. it compare it fully no quantitative, -- yet this with

Josh Jennings

Excellent. for taking Great. the questions. Thanks. Thanks all

Franz Walt

interest. Thank you for

Operator

Thank you.

Jefferies. comes Our with the from your Please with Couillard of question. next line proceed question Brandon

Brandon Couillard

that's Hi. now tying approval in is SDS morning. you the FDA the of Thanks. Franz, of first kind bundled this touch does the of case. instrument just the microarray the just about kind the Good been why that on together? EUA? and visibility XXX(k) that kind to the why And could give time the I'm line of you now on has curious necessarily process serology more

Franz Walt

not it's I together. think bundled

is initial the we reviewers. on And for the instrument emergency that that So parallel authorization a a have goes different use track. the XXX(k) SDS

still need and for get have later the you you let's is authorization, and XXX(k) then to crisis it the If pull approval back over use the emergency on. say, you

think I interdependency. it's an So

instrument where instrument the in a happening at will test the they it. confidence a authorization had software for which good that look at we we the think I get be very emergency the a indicator with are the already, having for look XXX(k) we with So What's thing us. -- full is have only good use here will them

just And also process a yet. how like are we EUA customers. we dose of question like the stand. felt just exactly fully with the of time. we you the had haven't they are It's They with we the emergency that's They contract and know they and authorization. get where although our where exactly also contracts and signed signed time that question looks We use confident a it's we why we entire this know in

Brandon Couillard

you. Got

are regain the at on the number in to this those access And that to Europe point? Has Any all? labs Okay. able you changed that update program up? labs started see hypercare been you've of at you bigger

Franz Walt

they're U.S., from phase think active it the as in but U.S. received in incorporating hypercare completed. the running feedback that then now. now in been the really I field completed. that's Europe has about we all successfully possible may We There's are as completing trials as consider no All get situation and with future we the customers, the hopefully we hypercare soon COVID-XX, customers, as anymore. not U.S. diagnostics when don't in sites starting And so the XX the the soon need It's allows we development, into for transfusion U.S., it.

So finished hypercare is in Europe.

Brandon Couillard

you. Got

of there? And just the the are sense. I U.S. Is that serology for mentioned trial Makes function three sites? from U.S., Europe? Okay. are those travel Thanks. think, testing On as same restart field clinical to you restrictions trials. overlap Is there, your last a point able in far customers, as the the being there

Franz Walt

over cannot travel started. our get package, also, experts It's Yes. the We to of it all the but course, whole get restrictions.

expanded next this And of that calendar indicated towards worst-case for so, year, before, will we U.S., year. IH the the I initiate end beginning this of

So SDS, it do expanded the it a do capacity IH we SDS, was If half improving. do suddenly, the still hold then and cover the resources opens have year given everything everything is to the really up to wanted we on first to sequentially. there situation and And depends on have and can differently we when U.S. now those was IH when ago our timing after because we is the trials.

Brandon Couillard

Very good. Thank you.

Operator

you. Thank

proceed Ji Sung from of line with your comes BTIG. the question next Our Nam with Please question.

Sung Ji Nam

gaining the on little the the traction. Maybe good Thanks you could Franz, value there. questions. taking proposition Obviously, elaborate bit Hi. you're test, if on antibody a for

the There flexibility you competitive about capabilities, was very it's field. on talked characteristics. -- other terms in semi-quant talked You factors the obviously the et about performance and I cetera a there are platform, a there of But advantages? able advantage, Would maybe other test could cost are you of of if per into be out some MosaiQ, there. the kind advantage, other systems around to delve running you is comment on maybe cost wondering,

Franz Walt

advantage. cost Yes,

standard price I of conversion. think, the premium gold early a really in it's because terms combination it's in a premium zero for with product, sensitivity, the specificity

I is that, it another platform. dedicated think is a benefit

can you day if if to, a So you want X,XXX you need run to. microarrays

So XXX interrupt normal to have of being on your or tests workflow and them platform like you XXX is the one COVID-XX. don't different

fully it's throughput, efficient. dedicated, very So high

minutes, a after morning, If the it you everything you seconds. and instrument in test then get start takes result about every is XX running and XX the up

the yet, mentioned So immunity. it's and no what high if the It's And there is need, approved semi-quantification, do an high standard efficiency, soon with because These and This the the the kind benefits. zero benefit forward of quantification, accuracy clinical science once then, of throughput capability, be come what you as are conversion. for really early step of additional a the we the test. before. for antibodies guidance I you do will has need kind levels extremely

guidance. in will this help clinical So

Sung Ji Nam

is to in be the how be antibody are really in associated we process of testing appreciate a kind is types Franz, I of us kind test little a utility of there COVID curious antibody of what with of was kind the is be here. usage the of for a testing once testing, hear available? antibody broad there you Obviously, for see curious terms unprecedented will bit antibody where color vaccines giving forward. necessarily And bit there be utilized? I'm paradigm Would of vaccine case thoughts there Great. more going terms might don't usage? about, of of love of lot also, thought And diseases. shift just a antibody more other could I more in Will the

Franz Walt

it that antibody about, use to not. think have spoke Yes. epidemiology, you -- we for test testing, provide I if then is vaccinations. test you talked see or established mean, immunity, I And an have we immunity also about well, can that but you as are immunity, whether I they whether test convalescent antibody doing need that pharmaceutical of can companies considering mean, for you for that then it also serum can you course, you this use also

are think that virus of then virus. a this for you test of of These that patient kind PCR the important. logical learning more understand I about antibody there how a test process will So presence getting are this new particular a But works the test variety the become it you obligations. when behaves process in

the see think a question back it's pretty then we have I traction heard we potential mentioned are will time I all and our some of soft sure there. we customers. and obligations confident And we are from

on don't anymore. ship have We are We to location.

started. We are to on location get

Sung Ji Nam

me. Thank then just Great. for you. lastly And

transfusion in have diagnostics. You

the less talked could away successfully. completed nine You guys early the more little being us programs menu than sales You launch months you -- look Europe. in terms or ramp competitive like? remind the what nine of Could hypercare just a are in about

of ramp sense a what those get the timing be? could like might to around trying Just sales that What might the what the tenders be look like available?

Franz Walt

going we're in to-date, I are Yes, to there lost mean good we about tenders. but the we lose quarter in one Europe quarters news lost -- no the U.S., diagnostics two transfusion for

we tender miss were single postponed. So, they because didn't also a

now very everybody than problems writing different I think tenders. had

company situation we goes pattern to will I because available. now go it as calms depends are to then So, the the tendering commercial down starting have And And we tender. have and right QX participate back assume be in it now in soon that. process the with everything from the will their -- not on QX, the ICE. tenders benefiting the We really on or in already somehow combination. we powerful old first will think as then

are transfusion months of looking to -- us to the for as potential much more all are for a price you this it technology And contracts customers XXX% long a to signed. top-notch was have forward take it do Quotient, for effort good effort with here laboratories thing to it was premium the their could workflow. a no who flexible. know menu win customer different this of labs -- year for countries who worst-case There COVID-XX will had in Europe in U.S. We from have and we smaller up MosaiQ, and product. and a couple XX go but pay And in I menu they know they're us to And the customer the didn't is know think durations an whether and didn't to exercise know can smaller us already almost Europe the tender. what

for technology the can discussions, them. is in easy that's test, an was you use really it technology lot. customers can these central you immunoassay of convince us And and whatever said to immunohematology that new a They multimodalities, do test, a this this also lot sample a one discovered with okay molecular compelling interesting for So, do really can to we labs if beyond do from also interest those COVID-XX.

serious what centralized we with initiated look customized technology develop this potentially their very already into kind So, workflow want ones. what And microarrays for this and can diagnostics. also large do of may of customers with we discussions they specific very for field to

go know technology old plasma, more just this wanted still we We this our central for use that accelerated. in So, COVID-XX us and been have have not our your because lab over we it way that a We as to exposure applications now. Yes, was application interest their and took happened our have adaptable? further central question. But it? And the embrace check well. the central beyond transfusion strategy do. they beyond. was as real-life And aggressively and always plasma labs. with transfusion, in transfusion. we planned momentum already is beyond gave you Did would answers then in lab plan central That customers but If

Sung Ji Nam

Yes, you great. Thank so much.

Operator

concludes that gentlemen, comments. the question-and-answer to final and Walt floor any session. Ladies our I'll for you. Thank turn Mr. back

Franz Walt

us our the updating call we the we joining by made Bye, on bye fiscal everybody to this of much. call. today safe. have forward you XXXX expect Thank time Thank very you progress Yes. quarter second and conference look to you for stay on and

Operator

you. Thank today's conference. concludes This

time. You your at you disconnect participation. may Thank for your lines this

Quotient (QTNTQ) 3 Aug 202021 Q1 Earnings call transcript