AXDX - Earnings call transcript Q4 2021 | Accelerate Diagnostics, Inc.

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Operator

Good afternoon, and welcome to the Accelerate Diagnostics, Incorporated Fourth Quarter 2021 Results Conference Call. All participants will be in listen-only mode. After today’s presentation, there will be a question-and-answer session. Please note, this event is being recorded. I would now like to turn the conference over to Laura Pierson of Accelerate Diagnostics. ahead. go Please

Laura Pierson

XXXX it during begin, the to that XXXX. Act share of Securities of Before Act Exchange call is may presented of of Securities the this XXA within Section contain information XXE Section the we of important and forward-looking meaning statements

results that Forward-looking and XX-K are statements actual These those made that XX, could discussed year are statements during our we about other materially. subject historical not this and projections, future cause to statements annual call are reports December in differ our filed in to are report ended SEC. uncertainties with risks, XXXX other greater for facts. factors detail and include conference our on that the All forward-looking Form the

that President press and Jack measures. It full financial note of to now please to and company’s pleasure contains today’s introduce GAAP statements non-GAAP release the CEO, is financial reconciliation a Lastly, Phillips. my

Jack Phillips

afternoon, fourth to to and our full today’s sales results clinically Thank review live prospects new quarter for call, funnel XXXX. fourth contracts, everyone. On you, our and And we call. quarter Laura. our and year year earnings welcome Good of discuss will and commercially XXXX full fourth new made The of customers productive most plans addition quarter, the quarter year. our our the financial

AST This by for midyear revenue delivered grew lower quarter our of new we our year. included contracts customer of development platform. still Despite for In of kit headwind, new to launch rate for pandemic product related Pheno issues recurring a the the all a led However, and anticipated. the and test on this milestones R&D, XX% year.

form a of workflow MALDI our these the elaborate strategy. X. profitability will we as completed growth Pheno on will rate of Arc our testing. platform how Later part development of system, We product And of our the development I in aid and next-generation for call, our advanced the products identification overall also improve

I Before to financial XXXX operational it our to on XXXX, over results. results like would year providing for and review plans details hand for full quarter to additional our fourth and our Steve

Steve Reichling

Arc goods recurring Thank million quarter year. periods the everyone. XXXX. to were quarter decreased during the during When or SG&A margins $XX.X $X.X afternoon, Research the the $X.X and million were million compares This which platform due increase for administrative margins million our compensation of the the the not lower in charges over primarily the XXXX, prior the revenues, our additional of XX% and million result same a impacts $XX.X non-cash excluding sold year and in after $X.X $X.X selling deal On from XXXX. $X year-over-year for of million both good Pheno repeat ongoing for same goods non-GAAP development slight year. fourth net partially the capital for development cost capital and of the by program. in This and of in from due for million and were resulted the and Jack, This one-time used Net and and X impacts and costs were $XX.X million was gross and one $XX.X in decline driven increase year. and to for And the the $X.X XX% decline million general the million expense to margins was charges gross and financing quarter year development did for to fourth of This based quarter million XX% full a costs to other XX% year-over-year, $XX.X This fourth the in periods and compares Cost compares related costs. quarter and Selling, million $XX.X respectively. same compensation The quarter a by stock manufacturing $XX.X losses This efficiencies. to compares respectively. offset excluding in million million year. million the revenue you, $XX.X million year time million advance in $XX.X fourth quarter and sales in of XXXX. non-cash one-time was costs expenses year. $XX.X for $XX.X for large by the million and investment gross million stock-based sales growth expense. pandemic excluding to non-cash $X.X of our booked XXXX. to for were the million fourth Net basis, for the in resulting million and $X $X.X cash $XX.X conclude excluding in sold periods

XXXX sheet. Our improving focus the in was of our health balance

a During approximately by new the $XX reduced year, in we and convertible third financing. debt our raised million over

draw on ATM down During facility. executed the million $XX we our quarter, fourth a

$XX to our in to back XXXX XXXX ongoing that approximately to in and we million greater review our full I will funds now achieve will believe and quarter us these with fund allow objectives. results for detail. to funds and further available We fourth plans With Jack? ended plans Jack other year XXXX near-term operations. these cash it hand

Jack Phillips

convinced testing. product is the test question having the a market $XXX and strategy to health with question will sepsis healthcare and and million to have With morbidity annually. on rapid the concern, COVID, to be of unmet ID/AST over the burden of there right Despite major product near-term convert cost Steve. causing strategy. medical a no $XX that a It’s significant system the this right Thanks, billion death just we’re incredible continues focus need, we time,

and the with ID/AST recently Pheno market our integrated rapid First, we the to AST will kit. solution launched test continue penetrate

an the third, enter system, will rapid areas. continue launch achieving on system. automated market development focus will we Second, will Arc, strategy. product commercial we entire sizeable three-pronged X we sample the XXXX, In these blood positive considerable And the XXXX, of each made and advance cultures. progress untapped for this milestones preparation to market acute will for bacterial in beyond in to And address MALDI we Pheno with which and infections

on Pheno, systems the increase Pheno well million clinically This registry in an U.S., Pheno our ID over therapy. First, country brought Mayo The ID/AST the quarter. market increased with completed progress business derived in mission recurring convert the studies, XX and testing. are quarter. drove and customers, wave benefits many of fourth The pandemic including and limited running contracted XXXX, demonstrate growth by including benefits $XXX high Clinic the of and to dozens AST In in represents total improvements testing ID tests test in rates to revenues integrated XX%. our now number in instruments turnover XX%, of These we rapid globally of customers of which and recently a to studies parts employee of in XXX broad of are our rapid AST the established from the ability leaders new additional factors time of Pheno like optimal thought antibiotic hospitalization the others. in to new increases close fourth in

long-term secure committed base However, through customer contracts. our we continue to volume

XX pending resulted of the brought also in live XX of installed instruments in XXX U.S. implementation. a We base backlog U.S. the quarter. generating This the during and revenue instruments instruments

the version, implementation latest and the the live functionality which addition, of system. In team performance Pheno upgraded successfully majority our improves of customers our software to our

for be deliver AST a annuity geographies day, new a hospitals, kits to doubled have revenues of AST existing use XXXX. when Pheno is AST shift. of a in to test our customers the will This of we AST solution. anticipate full typically to Finally, business leverage for system. to way this to this one of ID/AST customer in then per is and focus Pheno We who attaining who combined they large key intends interest on kits will rapid EMEA staffing, was customer. and capitalize system per Having test run In shift for use which available the commercialization U.S., going both we the want XXXX, ID/AST meaningful Pheno forward. coverage. a at on kit component the new an strategy our began result deliver annuity and for EMEA, identification use Pheno option rapid during the off Pheno regional In and We use ID/AST rapid minimum in our nearly Pheno ideal customers on believe test Pheno kit these preferred have

Our second area focus in new market segment is the capitalizing workflow. microbiology, on MALDI rapid

The the drawback. due large lower market, it positive hours and to our come which an to segment in system a standard result to its preferred for is market. XX% ID Reportability the front compared to cost deliver is process time have low accuracy of The one this has XX% as to of hour, number reduction runtime systems XX an The identification cost deliver is bacterial library for negative and and MALDI both art MALDI the meet comprehensive devices growing rapid gram care. and to accuracy ID. MALDI to prospective organisms, end a the gram is For expectations result. customers of organisms. major operate. to takes about automates solution smaller, MALDI MALDI of XX

capital solid model razor The a performance, also for perspective, $XX. this greatly business of track test blade ability price we tests targeted model. of million creates benefit new QX stream blood test the AST exciting with ID From Considering, average culture in revenue per price an and acquisition be globally will Arc to positive our year. Given entirely on remain are kits. market a opportunity traditional launch Pheno there our to Accelerate. at over a XX This selling bundle will performed

are With for creating to AST market CE-IVD new in is wanting workflow where opportunity. for will fourth product end-to-end Arc growth receiving interest a seen in Pheno enthusiastic substantial. the a a funnel the is $XXX rapid great MALDI ID-AST the new interest rapid device. launch actually of as quarter option plus being million Similar We’re utilize and test ID. those levels was Arc EMEA

intensive a entire any and culture to new all relies positions platforms cultures old type rapid is positive Our or results. decades the microbiology isolates to slow space. X other old give to Pheno labor us from and designed on Today’s single complex on ID-AST customers run produce ability and both Pheno automation. have platform, plates platform. sample lab X blood workflows enter principally The the

take be is variety will X X a run Pheno across various to for another sample types Pheno simultaneously. confident level. of designed in organisms automation microbiology random are access We can

designed menu Given X antimicrobial than the response resistance, and imaging of Pheno just in more With antibiotic Pheno and than deliver types. best-in-class see solid ever and cell myriad speed reporting have drug applications other look emerging more this accuracy deeper completely our in biology. will cell extends believe of development our a to bacteria will AST quickly to sample knowledge a we This trends. deep in long-term, real live imaging. technology translate pharma existing XD broad the resistance X time to nature and from before state we we evolving across In have technology, of ranging ever technologies.

XXXX, single make the In U.S. XXXX launch instrument market development integrated in our and We completed We are a X. progress good early in entire clinical will have start. conducting we Pheno very XXXX. we X, will solution will continue With a trials have assay to platform. for with a and final in anticipate AST Pheno design targeting

our begun Pheno completed instrument launched the X grew made We and prospective market progress substantial flexible coming when more We product grew margin. summary, using Pheno development of bring on started with launch of this higher for running months. options samples annuities in our Pheno XX% For in result. we higher Accelerate, have patient anticipation In AST, commercializing funnel provides Arc as will at share goals XXXX. we of customers successful than a year. and which a for our a the gross We instruments Pheno

million. Lastly, feasibility we In X sample multiple Pheno we across $XX for anticipate million completed and revenues between XXXX, types. $XX

We are our hospital contracting. broader rate with improve offering we optimistic a access, normalized of can product significantly and more and flexible more

XXXX. meeting success. continue future meaningful In finally, Gates you agree to in testing And position I rapid this needed played call, the on answer Foundation leave the through we XXXX, this. several to million our deaths follow-up carefully antibiotic for from a stemming which over of questions, worsening against request in would of have new from enhance to lines investors@axdx.com. that to would others study our manage welcome use Should send this infections crisis. happy like resources first with Additionally, A antibiotics defense analyst. recently approximately questions execute resistance be bacterial now X a is healthcare have we and dramatically committed I Accelerate would our And R&D questions in our can our change. to not is on one most delivering to will closing, these published milestones of to role found much strategy. best addressed, in a Experts that The Lancet you or we

Operator

session. We question-and-answer from Blair. will now comes And the Brian ahead. Weinstein William question go Please the begin first with

Brian Weinstein

you Thanks doing? question. Hey guys, how taking for the

Steve Reichling

afternoon. Brian. Good Hi

Brian Weinstein

or just the into the on if you the in to more can. like of few for million by kind and geography. starting and what’s ID-AST, guidance, between of get $XX out just is, we only, geography AST Arc, little It the can the any expectation days. of guide by then a kind to kind also Steve, guess, what’s $XX to sounds into core kind the So insight insight up here million of product which I in the give us maybe year next launching making bit

Steve Reichling

most mean, that in book live. of backlog our and significant I of a revenues going our growth is our Yes. derived portion existing and guidance of listed business from

get them equation the Arc, we in ID-AST do approach AST handful Arc an we terms. do during And in customers to we is but there’s we point in do type an And final on that in opportunity revenue. the that here capital we continue And that from of to or for that year. a The that next and the so. to sit new, the sale your today, part that Arc had month budget have is their is the launch our upsell also from we Arc. as system mostly would the embed of often number when contract. on within again on customers modest capital current of a perspective expect And the of processes opportunity expect kind contracting could we they’ve of What capital expect customers revenue only increasing some business. them So side extended to year re-up contract a AST represents committed be piece the to capital for here of

between So the are and those major components the million. breakdown million of $XX the $XX

Brian Weinstein

the And for call. funnel assuming then, far goes times new as on the as talked what many are you driving access You placements? about

questions So maybe there. embedded two

of more looks me like think First, can to you was your about I year? you as forces Or as somewhat ability access? as that strong information it be funnel kind then give that to you a get still normal ever are you bit little assuming expect or far impaired to what expecting kind traditional it’s like? of that more as of sales what kind said back Are do been the through something that. access? And you

Jack Phillips

Yeah.

that So hi, Jack. one. Brian, this take is I’ll

to news improving. past of say right now been again, So a absolutely weeks couple access hospitalizations rise the piece fall the I the three due and things, access over has would on is an The continually COVID. based fluid this one on is good

now more before, right took meaningful result trending there very the through it’s getting up we direction. direction. went the we a point meetings, a period. with face We’re a a Omicron as many getting trending lot and continue. the to well, mean, your – that that now Delta meetings access, of we Clearly now expect optimistic – a second good And that it’s down had was in forward. that question. with step as as of But than the of back And face and to well, meetings but to in Zoom going meetings definitely I and year very we’re about rest nonetheless,

a being many we’re opportunities is seeing more result, what As restarted. are

ID-AST are we’ve And solution. one broken areas opportunities revisiting. very So is The basis, three regular already areas. about, would then our is and a placed we were integrated into these hold talk say I I-D-AST three had complete core that that on that that down on funnel we’re the important

combination an And configuration second is, one is the third model. The of really then AST Arc. a

of a in interest getting We’re good Arc. early lot

month track are the a together. configuration of there’s to this and funnels on and launch as there as growing Arc customers lot interested Arc in the good We growing interest that there to AST and funnels with and well are

using MALDI one fully testing. it’s susceptibility then for So Pheno integrated rapid and solution the

Brian Weinstein

sort that that any And cognizant for being – of last would to that it. for as opportunities in those one if the things anything to of be your that cash And that fully the your that you make there’s situation. still kind funding sure one a cash you is you a cash to there’s financing last is not else position year. Got for want tighter of and that be for to for on Thanks guys. used nothing bit for the related the appears guys situation. me XXXX, It want terms thank fallen make answers. comments by of like are I just other But the in wayside opportunities. of me of cash you or doing kind about would

Steve Reichling

the Thanks Yes. question, for Brian.

As of years our product spend you new we overall these and is to have in tighten directly make to know, burn. I to areas increasing to mean, past done over work related in we’ve on the of million is investment. rate our guiding that the focus without key in we’re we meaningful progress allows to And areas what those this our where dramatically us $XX growth XXXX The over few launches. product XXXX. landed million $XX

to continue will here, so. sit to about So the have cash makes sense our when to where opportunities we feel current the on new relative we to for do money evaluate good and pretty bring it we our year burn

there. the And so that’s of kind picture

Brian Weinstein

guys. Thanks Okay.

Operator

Please ahead. question with Peterson next JPMorgan. is Tycho from go The

Casey Woodring

on Casey follow XXXX guidance we about what’s the Tycho. is there about think Can that EMEA you ex-U.S.? embedded Thanks. how and And questions. just Maybe of kind for post This guys. year? restructuring up should to last in talk the now Hi on for business

Steve Reichling

we in the EMEA see now strong we is mean, EMEA very roughly EMEA. – East in growth Yeah. we’ll of is $X to right growth We pleased And were growth. breakdown continued I think the million are million as our see the I entity. $XX mentioned the in Middle through

that expect So it’s our we welcome not and a we growth from significant of But portion business. growth continued the geography.

Jack Phillips

win Yes. countries in done in I our did that the we got the not here. was for been last Middle out in we but knew we focused that well where wins our effective. twofold. mean, We’ve in Eastern secondly, efforts we Yes, could about. to that reason talking been that we And we’ve I only would say, be year mean, Casey, turned was just I several as Europe, the manage we’ve well – restructuring it’s in we’re major Jack very also and to focused. very spend. effective. restructure places One very markets to is focus good had The

Casey Woodring

you just we the soft level curious as these the or the and are helpful. product really why of And about launching Any think XXXX guidance, like there? as embedded AST neither are just how That’s think color that about into out, to should a of products? kind sort ramp? of standalone, conservatism And you. several thinking Got we Arc about the then those years products

Jack Phillips

Yeah.

product as we million to – be is at a going for meaningful. very a test go market, I market $XXX be very, with mean, very at going us it’s it’s when test $XX Arc mean, out. I a look XX million So we a to look and size, going meaningful it’s the you about to be

a an on fact this for approval out anticipate We’re for we’re FDA, the it’s revenues that to that to us And pandemic, give We the And nicely. lot when I definitely, also, to come conservative not But into part XXXX, our building guidance IVD being the there’s for the there, submit we’re sure. then on the want just AST are as initially. on kits lot overall – sure partly side, which a year. more for not to the launching AST the we mentioned, activity. I with then configuration And going in our that. RUO why about there’s of we’re a build that. included funnel as getting we of includes get side, chance built And that. that’s is

Jack Phillips

do question? have you another Casey,

Casey Woodring

you. Thank it. that’s No,

Jack Phillips

Okay. Thank you.

Operator

is The Mark ahead. BTIG. with next Massaro from go question Please

Mark Massaro

Thank you I much Yes, launch say the guys. guys very Hey sort it’s positioned I positioned say, heard to is this I guess think in also heard just you of But you the month. to that think Arc I for launch I to questions. months. coming clarify,

do So we shipping delay guess, a you there, if there I to inventory built and not, have should this is start curious product in if expect March?

Jack Phillips

Yes.

instruments a on and are clarify, to Arc your there, to have track then on instrumentation track we we’re do month. launch, will we’re And month. is are And to, on track day launch we sorry, question update at available So this of again, launch this part if ship. every misspoke second and on actively portfolio practically the we just to we to do building I

Mark Massaro

curious, you – us on or Okay, you you per capital rental can reagent thank maybe perfect. Can funnel $XX for are guess. going on for if sale I and price are willing about and pursue the you less remind is Arc, I’m a then the to maybe reminder what go potentially really upfront? on a Arc the capital test into that, to the the you comment

Jack Phillips

the selling about Sure. Average $XX,XXX. price platform will be on Arc

adopt want well. will up capital and ramp with our will As that sure. to this, about I for be help other selling have we don’t obviously answer important there, for is, yes, $XX. the also price those actual that budgeted model Mark I The on average that’s indicated, that the to entertain question reagent your mean, customers a kit rental a as model will

is a And a frankly, customers already preparation growing totally of There’s of of workflow, So then customers takes budgeted. of nicely front with about that but lot the would And SEPC a things the interest, automates the interest. of type a lot there. talked a don’t Arc, that just, have if time. somewhat lot as rapid cumbersome. I type on end funnel of MALDI. is it again, There’s it’s we’ve hands for have MALDI process reiterate

there. a open there’s other COVID, there’s so through And people – of of been of in been again, this have great lot lot microbiology there’s a is a the And leaving. where with parts of a interest openings that happened and example laboratory lot

so opposition those And resources and important a Arc so automate Arc – with is per we forth, challenges the really the a process and value at labs are regard premium in well address the suited to people very because to there.

Mark Massaro

systems That’s And AST helpful. cleared, Other FDA guess, and the are TX Verigene is space ID Excellent. cleared. I and BioFire in such FDA and obviously Pheno as ID others.

clinical for RUO your recognizing this ahead interest it initially. a setting? really a patients just to be FDA sense guess Do how are that that build of Arc I what will in to Or administer it on is launch? So you will an is have test be deployed expectations maybe clinicians able cleared

Jack Phillips

comments Yes, Good couple a question. there.

very are the clinical an then accepted a That’s validate is that yes. will And – will will accounting in start RUO use. adopt their working on funnels the now absolutely we’re Customers customers answer practice. Arc for as RUO it So and we absolutely appropriately running for that laboratory. sales

front a that the self customers wanting a would platform. the have couple their it’s ID all get time those full their result, it’s for again, on can get And rapid hours they because results is in a MALDI day did And pretty turnaround initial type do. many a of – off Arc, And are it’s move going Some will is result. and hospitals basically I to targets. our a there, through with validation from MALDI end say straightforward of obviously that not I actually target already matter it’s then do questions which Mark? are products, initial producing ID MALDI be, of for answer your And just the producing not bring that but to for ID same two-day the prep, sample doing, a RUO

Mark Massaro

Yes. up you say maybe last you some added you think for put clarification, That’s – good Yes. then contracted obviously in helpful. XX for that. question just growth have quarter. let’s Thank instruments And my But just I in EMEA. the really super you guys

think came EMEA. from XX I

So the have just of us a sure in level give outside the just us maybe I U.S.? U.S. can but and that in give making the I for U.S., the sense a in I you U.S. in sense the of even XX mean, funnel backlog interest just two guess, strong the that backlog. for understand implies a you about

Steve Reichling

those of first Mark, correction all, incremental. numbers are

did U.S. we to So in XX in did the are incremental Europe, those XX so and we other. each

Mark Massaro

be just the okay. Okay. level would outside And in helpful Understood. Understood, U.S. the interest then super so of backlog?

Steve Reichling

we we’re number backlog that building year. And AST obviously new Pheno live to go obviously instruments the we’ll be now. to then significant and a And and yes, then that of for as funnel AST both contracted more live, well. that building And this with of our so ID mean, customers, getting add so for I funnel part anticipate of question live, is go XX the those

Mark Massaro

it guys. Thanks for Okay. That’s me.

Steve Reichling

Mark. Thanks

Jack Phillips

mark. Thanks it. Appreciate

Operator

from Nowak Please is next Craig-Hallum with The go question Group. ahead. Alex Capital

Alex Nowak

validation times, everyone. initially? do to originally the Arc going Pheno how afternoon, Once six good to go the had lot a Great, of months. complete to a placed came but longer with is lab, system typical here was nine take think live live the to you be there ultimately down go about long

Jack Phillips

saw less than quicker. going would Alex. validate going self that that. before. if mentioned don’t lot anticipate be it it Pheno, it’s And now, the But a to not timeframe than nine-month with be – initially as should really We I customers less months, it’s working to pick this we – to RUO. be actually will we’re I XX-month, will think validating, anticipate we we Customers six self be need I to had say, three and I through mean, to so relative right the to

to work that fast But – go, more because process. be we ability a definitely pretty is doing at upfront customer of it’s some that it’ll definitely for quicker will willing FDA mean, until on based it’s be the how Accelerate initially simple the I the the get approval. versus So will streamlined. be and they customer

Alex Nowak

Got that Okay. still to we given AST, successful big item it’s it. over were thinking going launch Pheno achieve couple we last Arc you’ve bit the X.X with the partially pandemic. all of With never necessary Pheno expectations you Pheno, heard really that I perhaps going a is that given itself but shot years. think that start we think think bigger need And be in can labs then picture to with Pheno shift the over that a the the now the become Pheno this question, had maybe do you Pheno could is originally do challenges feedback that our to or Or just on?

Jack Phillips

for continue of you AST Thank Pheno absolutely, No, will ID/AST I area Yes. and be major rapid to kit. the AST question. in the a significant it. player appreciate with our now configuration

I customer were value exact was very think proposition placed just remember it recently another seeing. so. like the we on had about pandemic, a paper weeks, yet past backwards – over we contracted, the strong And the has just they’re number we Alex, or here, we a moving publish savings is had XXX I we the couple that but units before the again, there, just the or Moving – can’t if XXXX mean, before pandemic I pace

do launched middle high then just capture that’s positive to term going flexibility is Pheno. ID/AST. with our our in it’s blood AMR is bigger rapid to that That strategy, Pheno much overall is Pheno a is the of said, longer around a got and Pheno in was testing an want the and culture of important for doesn’t important part overall allow launched, of AST configuration product coming a for That a today with do month. we element addressed absolutely, well. a pandemic strategy be than part different isolate continue we to volume And And so the that’s that strategy strategy. that going – Arc there capture our what Alex, X. customers gives those approval which us is in this of And that all June. part to our very important very sample types, sepsis ID will reason for important other ID that market for very will a – as be be And here doesn’t solution

So to are I of ongoing of our the lives entire mission It’s say improve going our and them portfolio. would take serious the infections. to patients ongoing all extremely with to important success

Alex Nowak

the plans debt, deal helpful. just update with question, the capital give And outstanding that? that, appreciate just the some around you maybe Very done I what’s just then for us to of can Jack. convertible to requirements upcoming an on last being work

Jack Phillips

of I certainly, the Yes, big capital share but focus can’t we specific at I our mean, a time, Alex, spending have there. we’re raise first options front, on mine. it’s several this plans – do

inbounds couple debt then We had we’ve recently have our use ATM. blessed to we’re We’ll in interest the XX million new that and outstanding on And look to given – convertible a lower opportunistically, support insiders. a price. our the issuance that on stock have continued on of our

execute. and in us of do to we lot to continue and on to So there’s options of weighing the puts what takes we’re need do front and those a we’ll

On the talk debt. our them them on holders to is working luckily, with so various the plans debt very debt and close. held, are we’re front, keeping closely debt to resolve We the frequently

So both and have plans are around. our focus we

Alex Nowak

update. the you. appreciate Okay, Thank

Operator

any would remarks. for closing over conference This concludes turn our I to like question-and-answer back Phillips to session. the Jack

Jack Phillips

a on And call of Thank all, employees my so dedication Accelerate from doing tremendous much I and progress. today group I our of In appreciate deliver making the things the you, thank just first minute closing, to continued for wanted everybody. the thank great to for and take They’re our side, a today. job you great a couple questions and goals.

you thank are tremendous employees, of customers who So our partners just our to ours.

finally, to ID/AST past it’s very pandemic. for over our you continue to the largely And of due then and the greatly I needle shareholders the do As the as we customers in appreciate years, here to our and rapid commitment thanks shareholders, challenging our especially couple move years, the those over for testing, been patients. all clearly

to would months and Accelerate. XXXX, for have here attention we we optimism and have optimism reason great say, As move to for great I we our there’s several now

excited gradually higher much in growth with new project. our to about and I ID/AST make in interest to different couple meaningful and development systems March. health we X take be new excited we on the weeks very the over to then normal, our steady patient And to XXXX willingness core greater calls business, Pheno return here and the able launch, continue more of sometimes that strides milestones As we’re access access, as then Zoom launch a more next in results couple our level to a would area in and improve strategy that with Arc that. beat say meaningful of to and AST That’s And initiatives outcome. the in product we’re

means, you by We’re interest for all further very if all us any investors, at in, please And for for it year. day. connect and in investors@axdx.com. wonderful I much thank way now. a very optimistic excited reach the out Again, and about to very Steve and That’s with tuning to your you have questions Accelerate. best you thank thank have I, is you

Operator

now you is Thank attending for conference concluded. presentation. today’s The

disconnect. You now may

Accelerate Diagnostics (AXDX) 9 Mar 222021 Q4 Earnings call transcript