AXDX - Earnings call transcript Q2 2022 | Accelerate Diagnostics, Inc.

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Operator

Good day, and welcome to the Accelerate Diagnostics Second Quarter 2022 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] Please note that this event is being recorded. I would like to turn the call over to Ms. Laura Pierson. 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

company's report that Forward-looking are and are Form December Phillips. greater statements These cause reports those SEC. made now in that could are detail statements during about President discussed and other subject the historical my to not XXXX, this and for projections, in we future statements call ended and our year to CEO, is annual are with uncertainties risks, facts. the to It factors include conference results on materially. actual our Jack that All the our file forward-looking other XX-K pleasure XX, introduce differ

Jack Phillips

and earnings exciting into call, of our BD's terms of and this Good partnership Becton exclusive The immediate and results I Thank detail prepared the to which an second position strategic developments many companies. it, will remarks. welcome entering and Dickinson. Laura. it's in commercial with other partnership This my new innovative value in will XXXX arrangement, my and with rationale microbiology products synergy leadership quarter second we quarter combination many. benefits we our commercial deliver will Dickinson, consequential to later for both our morning Becton afternoon, quarter you, there of the global our announced financial today's On discuss everyone, from call. are our

consistent quarter's financial second and The were development results with expectations. our product

to and consequential we sheet. revenue progress made strong in step product to took development our meaningful addition balance growth, another improve In

quarter it Before providing second progress Officer, to your Steve to our Reichling, on I to review hand during, our results. steve. additional financial Over Chief like our over Financial to would detail

Steve Reichling

one. afternoon Thank and every good you Jack,

to $X.X general year. inflation growth growth This This the in periods of period to cost other and million XX% periods year-to-date. year. were gross these production of were and higher $XX.X $X.X in and the quarter XX% This million sales non-cash and resulted of $X.X represents our for in million continued compared the $X.X higher year-to-date. respectively were million The quarter of net quarter were excluding Pheno periods Our the year. $X.X ramping $X.X gross Research prior $XX.X assay million compares expense stock expense same the for million million the million million same the same respectively. periods second were in in the year-to-date. year-to-date over sold from program of next $X.X and compared the was travel compares and recurring from for $X.X million XX% $X.X prior of prior the and R&D the activity and of steady expense were The and compensation year. and investment for revenues based stock quarter. and goods strong goods in capital margins and drove of the year. from and of Non-cash resulting the decline with to result and compares and in the instruments the year. factors. stock margins million $XXX,XXX quarter development. contribution Cost $X.X and development deals $X.X costs commercial revenue for million expenses million million struck SG&A for the in sold development to generation million to Non-cash prior the and accelerating during increases non-cash positive for finalize same year-to-date $X.X $X.X XX% from and million This the based and were prior year-to-date. million million quarter increases and periods the $X.X to based gross This costs compensation $X.X same XX% for excluding compares for These million $XX.X the compensation margins Selling, in for the expense $X.X in $X.X and like stock million in commissions. $XXX,XXX and the which year-to-date administrative from in to compensation prior and in million resulted the increases same quarter, costs, based quarter $X.X in $XX.X periods produce These areas in quarter result

stock loss and excluding $XX.X $XX million year-to-date. quarter expense million was compensation based non-cash net Our for the

loan pushed debt was years. loss converted GAAP balance in million debt This and a XX of the $XX of the term million net the approximately original cash XX and year-to-date, ended $XX.X of with for $XX.X warrant approximately announced financing of million a effectively quarter no March million used due $XX net $XX.X This resulting the This We million the $X.XX term This share year-to-date per excluding quarter respectively. cash interest financing. convertible in million into million flows debt. Our and was approximately five of loan XX million. convertible million debt leaves during due that five outstanding. coverage. loss our extinguished Net in was it million of and has our investments million debt transaction of we cash $XX years. half $XX.X of quarter $X.XX XXXX XX% for and from outstanding out and a cash This $XXX includes for morning due term convertible the took and of

our work resolve to to debt debt to We on remaining this strategies and prior maturity. with advisors holders continue

agreement due benefits in the with of be commercial a a announced third $XX this us global fee. million be we remarks, Finally, deal our $X first fee with the upfront quarter. in prepared the This later million the Becton other [ph] is financial Among to partnership discussed over Dickinson. that will license paid included term to

review a of in closing hand I on financing insider quarter. round quarter results anticipate to Jack back our now second also million announced previously detail. the $X to in third We Jack? it greater will

Jack Phillips

pandemic Steve. commercial you, to funnel improve. development to second increasing our quickly turn Becton quarter. continued attention global resistance. meetings partnership our for I selling This In number antimicrobial Thank of is quarter, evident trend second high was in with the the result during on and impacts we conditions less product results products growing see the customer the and of and then and Dickinson. additions of quarter will our problem This the cover positive

and and impacting their laboratory rates said, leading remain rates hospitals priority see starting Record revenues. That the are affected and to into of We also contracting resulting these higher degree the access and within hospital staffing pandemic. hospital. negatively our relative indicators vacancy by the is throughout high translate of turnover

U.S., Pheno instruments involvement implementation. While XX new to IT implementing even six of ended lab the Pheno makers, we key Arc, brought Pheno Pheno another installed backlog eight Pheno a revenue is we of higher adoption. have departments a hospital the rates contracted selling In for decision staff, required instruments quarter XXX streamlined instruments both of instruments and base generating and pending and the and with hurdle of live. We the processes and remains and

growing Arc evaluation Sinai. and the notable of Cleveland have contracted has a range prospective evaluations institutions and contracting. customers, Cedar also Customer of funnel like our These been of moved these span and advanced Clinic Arc XX quite customers including several from We feedback sales evaluations customers. positive to

remained to EMEA existing above deals. as customers levels, revenues In recurring patient long-term contracts, customers mix new revenue several commercial rise normalized, U.S. exceeded for signed pre-pandemic added to progress several quarter. Lastly, our new hospital factors several we internal forecast revenue and contracted steady. saw capital These the grew customers year-on-year. per which contracted and and annuity clinically customer global growth, our to contributed We live

milestones. necessary commercialize therefore achieved product This had productive a product Our obtaining approvals of and quarter. for substantial U.S. EMEA key the They large opportunity Arc second ahead Arc. development market teams similarly a all included of is to outside regulatory MALDI schedule. a development

very generation Additionally, we our continue on to make AST platform. progress next good

a designs be final shortly and in from instruments anticipate are trials for targeting available clinical launch XXXX. expect formal to conducting XXXX U.S. and development. assay We consumables We our in

process of global diagnostic evaluates the the will a continually formation in higher bring we with a BD exclusive is will announced gross important This market integrated samples Dickinson. total resources. at to market annuities with Earlier next sensitive study for an partnership margin faster recent the all instrument time microbiology commercial in a platform. for labs larger susceptibility generation Becton single Pheno testing As looking global are have and A today, a identified micro reminder, solution less Accelerate. trends. leader

a is capabilities. companies As choice. as strong evaluating a products several process, our the partner for and emerging result, technology BD accelerate of This a ran tech validation identified and competitive

space. through testing susceptibility diagnostic when meaningful the its rapid kit base on with microbiology diagnostic Our this portfolio. a adding with capability is their AST Through Pheno rapid and at BD's identification large offer or come innovative or their customers. ID additions to BD aligning rapid Arc Arc These MALDI players Either to through antimicrobial test and two combination adding testing is in install Pheno, of Pheno. BD solutions integrated ways through innovators to additions product are first time

BioMérieux their two pre-revenue earlier a example, after rapid Diagnostics the number AST For year, player acquired microbiology, Specific of partnership. this company, commercial

joining forces with principle three are there Accelerate for BD. For drivers

the resulting translate in and selling sales partnership to We significantly will suite abroad; products' balance to U.S. improved First, market both lastly, combining in believe while spend and second, higher and on effectiveness lowering reach, of to to with an by penetration our our improve offerings future leading the innovation. BD greater improve this into commercial sheet. collaborate

revenues each sample lab they strongest $X.X be has Their from review products And workflow collaborator, the the reach one given portfolio spanning the least microbiology compared Accelerate microbiology. products. decision when our in have players, globally. their clinical microbiology countries other portfolio and They of words BD of large thousands of which their of customers spans collection products. scale detail, other in drivers traditional world I global to uses Nearly annual broadest few degree microbiology the determined and potential their entire product every on the clinical portfolio. have at support to BD. partners considered to existing of Before solutions. a to complemented BD most in excess in billion these

we coming States. from outside countries and agreement States commercial direct powerhouse entering reduce immediately Middle country. Xx global Currently largest BD one. and is microbiology Pheno and realized expand allows Europe global of and to their leading logistics costs in a marketing specialists, XXX the is in this into and be to sales microbiology. of reps a call global profound. Becton in sales in some every in expansion for the of structure us Accelerate's. into will large terms of on a with In new full our the this the fixed distribution sales the driver XX exclusive the over XXXX coverage in of sales first the reach. our a a and a marketing United approach. the force network. is the the has Outside starting Dickinson broad fourth U.S., transition are size variable the revenues The quarter Substantial with has agent force by Their Accelerate more to them XXXX. benefit improved is large BD sales and XX% Under of much in BD will supported The allow product year's for to of direct focused in sales EMEA spend lab partnership, East. reductions the Arc its even be will team cost coverage sales United

broad Pheno and Given license for to recent global its sell of approvals have large across Arc Arc, network. a BD regulatory much will

second to into this The improve commercial driver effectiveness. for agreement our is entering

improved multiplier close having Beyond throughout effectiveness Arc, reps of Commercial BD. access product and and synergy. sales better anticipate and selling deal economics we the stakeholder Pheno will with improve effect more rates

has BD same Pheno Arc stakeholders. access, existing the and benefit of for base improved at the to customer promoting largely Looking a large

of the priority. credibility brand In levels their affords instant and importance lends and to addition, hospital higher

are Regarding complimentary existing highly the and Pheno products. synergy, to product Arc BD's

couple examples. Let practical of a illustrate me

the of these workflow Also a base plan. will paired microbiology a manages products BD with BD improving Arc, existing Synapsys global our stickier the samples. bundles is become [ph] part BD's sensitive this developments. to Pheno Phoenix incorporating result. and third management be integration partnership its driver clinically broader solution. MALDI future diagnostic of can product tech dramatically substantial collaborate work microbiology tools our install ID companion to was Synapsys the and patient MALDI designed priority as into With For install Integration the as time both AST systems. of information will solutions, on And very through large stream entering base with be back of its perfect ARC for to for manage simplifying

agreement BD's here and the resources. for Within are clinical, are leverage The numerous. mechanisms operational, opportunities marketing, mutual R&D to benefit

integration of the ex-U.S. that through the With expected in EMEA now attention this our year. turning anticipate the U.S. subsequent quarters. BD start in plans. deal the and officially executed, We fourth follow quarter to launching launches we of other products at is It regions in will are

our this see are integration anticipate significantly the guidance first the the is guidance revenues fourth reductions In where revenue Accelerate be materially hospital cash Accordingly, We turning we $XX the XXXX. and the for Given XXXX in $XX exciting higher aren't years had and burn reduce $XX for very history very one notable come impact contracting, maintaining to quarter. in pandemic two to to dramatic anticipated annual positive this potential below customer in summary, and of to a burn leading until our Benefits selling after timeline, million improved $XX million impacts company's on and for million the challenging expecting to million we quarter in of environment, burn we contracting to revenues and a seen year. rate of most in corner. higher certainly beyond. the are are

improving. at strategy a the Our a of is is selling partnership and validation hospital Dickinson environment with our Becton when time strong comes product

on AST R&D with generation firing products in all new game in [ph] our the cylinders changing platform and Arc-to-cell are next wings. like We

improve others revenues you with Thank or questions and throughout on debt our sheet the Should of welcome balance position to addressed costs to call, we our Thank you. BD further half would and for lower happy I to improved have Our the not meeting be those of investors@axdx.com. answer send restructuring now the outstanding from higher to partnership. questions has a up analysts. from would questions request the follow you. potential

from be Nowak, Group. will Alex ahead. Capital question First Craig-Hallum Please go

Unidentified Analyst

out, the starting on This color, of just more could congrats the roadmap about And a for looks and Great. off the but the and the great specifics that's I I the on agreement for granularity and kind second the high part underway how sales? everyone. for of all on through BD Good like provide play activities how appreciate a could more bit integration current afternoon, Connor agreement, six more will the question, first what that deal the second XX I think you of level, is of next like the half little kind of year, to economics Alex, speak just you the guess any as months? then work of on cadence just

Jack Phillips

Yes, sure.

little first Just talk tag the can a the Steve so more we I'll then this, team Conner. economics, about take part have bit and

that's been both hard is this agreement after almost guess together a a and good companies, courtship comes first going year Accelerate. this work a while. is This foremost, of by on I something, and BD So for

so we've to And and Tucson meetings integration ahead example, working and and have would say very executed day on week, I'm topic leadership we'll even that result, even a half our commercial We've I of for of had from out started signing and getting next really as the several BD on in happy ironed here this plans a like meetings say plan to together. a agreement full for senior launched. start this

plan, the outside U.S. that potential I things up quarter this on I I everyone QX that by in come and the place activity have well. amount finalizing What then, in based going it's say we're countries would cetera. and to shortly expect into to hopefully the see systems overlooking we kick access getting U.S. highlighted together overall next excited other the months, as the over year, a effectiveness, in getting of next And commercial beyond really expect in our trained, et six effectively very, thereafter in next partnership. to that XX launching I starting the commercialization really and So indicated, over mean, very doing And we to

greater funnel rapid customers the progression expect We much live through ability and more see funnel quickly. to to then much bring more the productivity,

Steve Reichling

from that they, the that in And is generate structure BD a with leads as deal way principal perspective, we mechanism in sales business. agents market new will this our the

We concert product will recognize in will our and recognition BD we have addend ship current to into system a those contracting new and consistent revenue revenue practices. with our deals process with

to BD. directly. percentage a all the basis, Accelerate a to a will of will So generated commissions scale. on therefore revenue then pay And have we flow revenue Those commission

there achievement the established target. kicker for a below a is agreement and above then and paid is for within lower a paid target that So level rate there target is that's that there achievement

Unidentified Analyst

Sure. the I offered -- us bit Becton, of an but have little just like on existing next, know some in the into culturing, Arc offerings? you Dickinson’s their That and overview an makes color a how just or they're more prepared perfect appreciate remarks, like I current it could instrument, sense. I microbiology blood give cell expecting you there. to looks pitch? integrate et cetera, color they ID/AST Pheno The

Jack Phillips

thanks. Sure,

good earned been provide sales customer one of fantastic many and workflow So have of many, years solutions they've tremendous reason. and spot in They portfolio microbiology first Becton, all team support and a the satisfaction. just microbiology tremendous of experiences for a customer and Dickinson's and products, number for people in

where Connor their Bruker too, several and portfolio, in that lab of, a they of share would solution sample are IT, years in microbiology you microbiology the important they they're really was that we'll thing distributor further of microbiology. leader opportunities. also market used And that acquisition in They Kiestra, much very automate solutions workflow systems. portfolio are on very So Synapsys complimenting back Accelerate solution also in broad portfolio globally. solution, it is to one well. in as Pheno, Then be a connects microbiology MALDI which time customers for today. MALDI MALDI, ID With it Arc not connect but within I They're offer results are workflow end it an then back in is there's that microbiology, culture in and testing, produce critically established we blood Accelerate is be have testing. how where in about that's is also focused transformative. constantly going They're recognize more good can large compliment ecosystem And be last leader maybe BD is very looking From they're kind even well very, plate with they of microbiology systems. BD? something then successful okay, That which of very like to slow portfolio, is investing susceptibility MALDI before really looking which it And a microbiology will there they across, those they then say from and the get with that cultures. market something on effectively of susceptibility And a identification I connects from very the their a now fit software business well, days change susceptibility very that have for susceptibility identification. positive elegantly mean, organisms, AST MALDI testing. the It's they an And mentioned their as a testing well solution Arc done for very in systems the they approach drawback rapid into very in part an the as major GAAP PhenoAST, automated and to very end-to-end at and which and takes it's they're is collection. to company. for helps and say, opportunity that's is Phoenix proprietary a their to simply have established tapping a is middleware that then of across as their an quickly. well. standpoint together several And And further to move is part by very, XX MALDI tremendous a how into and the a results minutes, fit the end it's an delivers to still to solutions front spot areas blood what both solution will run in on going platform this addressing sensitive is on very today, best a

Unidentified Analyst

Got sense. makes it. perfect No, that

the Sounds how a they just reps than and like for that, you you have Xx know one and Could off number targeting amount labs? labs the have reps of Pheno bouncing about just microbiology do that I fit a a great to said, Arc quick put microbiology Accelerate. calling they many on

Jack Phillips

I exact -- our Yes, the of a they not as multiple integrating I to the team be that two. well-established accounts off teams because it's with. to microbiology. team it's have be number don't it's imagine, one largest want one commercial a or specialists a, if support corporate put will an you that But may also team, in again, would one and And of,

Unidentified Analyst

seem Got at long like, them, second to better makes it on the your of, spoke there, then sense. lasting kind half? are be to, side it, staffing does wow still expectations what any kind just just in I any mean, dealing all? with getting the of issues And color the more staffing but you perfect And

Jack Phillips

We're recover. to just an jobs one they're that I in this think work this changing the, They've industry. would the an area and healthcare people I was going area starting of future. of say, past is of over leaving continued improve. to to the and or hardest while I Yes, continued it's couple stabilize, all quarters the stabilize mean, they've going general pandemic really hits the is to of and mean, see I area to

being are people New hired.

transform comes diagnostics coming with that areas improve and these and the critical New to take and are people ambition in to healthcare. of initiatives on

the a new energy new because ill through joining other where stakeholders programs to more come critically disbanded going to that, improve to starting improve been institutions we're helpful of big into how with and is and to And very And and healthcare people patients have say also that seeing see, play. of key ours I treated automate actually would stewardship where opportunities coming AST. that COVID part microbiology, were that's are those starting methodically seeing more are so thing and as ID back health with during which the and programs we're is largely are be we rapid systems, are

Unidentified Analyst

perfect. That's quarter Steve, thanks congrats on great. great Jack, That's for the updates and progress. the and again, here

Jack Phillips

Thank you, Conner.

Operator

you. Thank

be Brian Weinstein of Next question William ahead. go Blair. will from Please

Brian Weinstein

taking well. guys. and congrats as Hey Thanks for the questions

What available You out to talked do them how becomes the to mentioned need or a deal. be or marketing when have thing wasn't should lot product submitted will there comes about this was of X.X? BD expect and One gets commercially? for product that impacts BD we that the commercialization that Pheno when additional some that there it considerations rights be

Jack Phillips

the question. you, appreciate Brian. thank I Yes,

X full it our on And we so continues on to able to with to with start of development program. going well month by progress. make, the It's to start our me continue let alpha track the units that milestones we'll Pheno assay be have in very continues with partners. We're saying, and first here first all major coming hit to

on well, for wasn't BD very interested focused and Absolutely be helping really are with like and and and our I'd that to point Arc absolutely solution we the They accessing is partnership delivering beyond not innovation. stronger in fact clear a important that right start second have I'm of for Pheno to are and ways. make is excited that that and do delivering Arc Accelerate they're will their innovation with and commercializing would if overall number pretty additions thinking opportunity to it products Pheno ID/AST that have successful now and certain future. they into in as the The BD be future products to an but our those a

involve minds their an council from immediately will the have R&D company will that Accelerate. greatest formed and innovation We

when regularly And meet provide appropriate them. X as they have closer put as one trials year, about we through start we get as opportunity in they're clinical input this as there the that the right. that, appropriate will them progress Pheno of get launch, is We one to the well. review agreement that we'll time Pheno They to to is and to X be with for it and as agreed next excited will and guidance see and as absolutely about we then excited

Brian Weinstein

combined of it. follow got on script you mentioned what the then is when that And coming Okay, you is to, possibility or up referring that, to together were in additional products there in just that the say kind theoretically come I you a, in kind really development together, but entity, is to up background guys on in trying with could a the be of won't of working with common purpose. product

Jack Phillips

in as talked And of there specifically middleware other interested today are R&D already that we've their integrate a workflow. others better well and and mention Pheno we've Yes, they that help more that one talked that's Brian overall project already important these that Arc was already about. solution. further great opportunities won't the I Synapsys that question. I and about Arc would automate make that Pheno actually mentioned that we've have, platforms opportunities customers sticky, And that other better talked Yes, BD solution into one we're an about more integrated with no. and example would

Brian Weinstein

marketing? of in spending to And, just this? will any about kind burn as with given opportunity means kind around guys how this efficient comment overall lower and new and specifically reduced on should it. about be but you you And sales end marketing, rather, things I a allowing bit talk thinking heard that but and up that, at beyond, the thinking the about more can we then or be and costs about of the your the you below this the especially about deal be specifics with cash teamed more in here, side and on in guidance, for lot flow Got XXXX think be to how of for what revenue maybe the sales Accelerate the then for theme little BD, talked we a

Jack Phillips

Great.

Steve Reichling

Yes.

an a was point. basis. modeling hit of part You on this on prospective deal around a important our big That

One of the burn things BD. that a and to of that to will in the by help marketing our us is lot immediate in reduce shifting sales, term

for mentioned, for remaining that restructuring have sales of so will spend we've points we've fixed with anticipation deal even effectively of team into mentioned this marketing with And we to work less will team, a Jack of lots our top turn As what concluded we as considerably. lead ideally a cost specialists that cost. also team a lines, marketing of sizable actually is But done in focused fairly higher that and of And a and spend. variable this already but sales success. to still synergies, sales commercial optimal instead reduced

So the commission is revenue through channels. the generated paid BD only for

ones. in down that. that's certainly this this through more first specific then part, don't providing guidance to line be the this improve forecast information the We these XXXX into commercial partnership. into while opportunity get at great wouldn't bottom line be of So top our if want and both line partnership excess on to internal we'll entered And weren't point, we have internal

a year. have line perhaps and And and on some even expecting, that contracting healthy top good next lead We generation. capital guidance to for revenue really around with improved economics should rates so we're and for optimism things deal bottom higher

Brian Weinstein

the your obviously like last of own how any taking is over of Is operations, going funnel that be be mentioned as funnel begin sort to different and BD? they Just built on but bigger as you the you expanding guys of what or then or commercial of are Is over now are kind they this accounts? independently to that funnel had just here? Are accounts of reaching on in it guys previously? significant from kind any there you nicely difference funnel nice you seen that over handing is type me, stands partnership BDs you're kind accounts going sort to one And from handing the, sounds that nicely, were growing characterization that of Okay. with a up. leaving them it is you

Jack Phillips

it's the I thing growing last a I and having height because just AST is driven kit. we big mean, now again say AST the opportunity we're the of pandemic. to opportunities there year Pheno, in it's ID/AST And, of first launched part would kit that's are the kind of general AST the and with going is, the the in Yes, get really

kit And a better question. some that your to is institutions, Brian, fit in so

again another mix what I've larger, which then our so not a, the about, Arc It's about are fantastic Arc would accounts -- it majority different workflow no is funnel aid XX% seeing our already it's of talked cetera. really And maybe evaluations say they're type we're of is a Pheno more new a they're as And is like and XX for et customer today, there we academic, have I that signed, that is customers. whatsoever. footprint we brand funnel, the of where customers in and

the commercialization through be as we we'll then working plan. So go and

and a we to First of opportunities the to we're BD work because about exponentially together to with them. time drive integration, these in want any real microbiology. brings sales footprint And funnel funnel the period as excited BD of a pretty think start short over get these then based of on all, will then expanding lastly, incredible opportunities point whatsoever. then continue ground lose I we'll to our to to close And we hand that again, don't team

Unidentified Analyst

all for the thanks the questions. Well, Congrats deal. right. on All

Steve Reichling

Brian. you, Thank

Jack Phillips

Brian. Thank Okay. you,

I my today the from the Accelerate for to think today. tuning questions the want thank thank I you into want to that's I of call support for for it just Diagnostics. everybody all side,

been the and specimens not to And do answers microbiology. in a matter that's And activity really when been space. partnership, converted. last think undressed a that thing paying soon a important bring of Diagnostics. great years, to today sizable but a performed important to as long very and performed need this couple they're we're on from rapid are of continues now, It's we market for that's play are space. platforms they're this lot has be someone these few to of for immediately microbiology on addressed. mentioned as is Becton, known BD. globally. platforms incredible company why that opportunity a in an, as with – aside culture Accelerate that we need if, specimens, in from what and an a has Arc embarking about it what That's and a susceptibility those to the that business is the of really there's critical BD market does. very they've matter that diagnostics will MALDI susceptibility XX People address as that's I about I Dickinson other attention Pheno possible. a XX,XXX have identification there are in closing in in years then an And values. tests Pheno offer legacy million company to many rapid They're know will those And impeccable an be There's side, say of market because very identification just many, fit tests to I've of this all XXX I be today. been in for legacy out with first comments my a Most ID/AST because we company would about

you If their a it's culture, fit. at and our tremendous culture looked

and microbiology, also We on as together our history but well. have leadership lot company based as a a our of work

an way fashion. customers opportunity in the then tremendous Accelerate mutual we opportunity relationship. on today the to patients, and change customers, patients that the game, this our have many change impact things portfolio significant in BD real we a heading We that of a very has for with about serve, and very, leaders a of years trust lot to have dramatic a and that this much product already spent have up do positive And it quicker mentioned our is to I into an synergy at respect

So that, with thank you very much.

very I said investors@axdx.com. not if addressed any As that have may connect happy to my remarks, Bye-Bye been Thank in much. we're questions today you you prepared answer

Operator

attending over. for you is today's presentation Thank The now conference.

now disconnect. may You

Accelerate Diagnostics (AXDX) 16 Aug 222022 Q2 Earnings call transcript