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Pre-announces FY 2022 revenue of $38.5 million
Secured $1.4 million of orders in Q1 FY23 for recently CE Marked Extended IH MosaiQ Solution
$83.2 million in cash and investments as of March 31, 2022
JERSEY, Channel Islands, June 21, 2022 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ: QTNT), a commercial-stage diagnostics company, today announced that it is rescheduling the release of its financial results for the fourth quarter and full year 2022 ended March 31, 2022. The Company will release these financial results and host a conference call before market open on Friday, June 24, 2022.
Quotient expects to report reagent business generated product sales of $9.8 million in the fourth quarter of fiscal 2022 and full fiscal year 2022 revenue of $38.5 million. The Company recently secured $1.4 million of orders in the first quarter of fiscal year 2023 for its recently CE Marked Extended Immunohematology (IH) MosaiQ solution. As of March 31, 2022, Quotient had $83.2 million in cash and investments and $8.7 million in restricted cash.
Quotient Fourth Quarter and Full Year 2022 Financial Results and
Manuel O. Méndez, Chief Executive Officer
Friday, June 24, 2022
8:00am ET/ 14:00 CET
Conference Call Dial-in Details:
The webcast should be accessed 15 minutes prior to the conference call start time. A replay of the webcast will be available following the conclusion of the live call and will be accessible on the Company’s website.
About Quotient Limited
Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that it believes reshape the way diagnostics are practiced. MosaiQ, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, deliver significant workflow improvements, and create operational cost savings to laboratories around the world. Quotient's operations are based in Switzerland, Scotland and the US.
The Quotient logo, Quotient MosaiQ and MosaiQ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements regarding our expectations of continued growth, the development, regulatory approval, commercialization and impact of MosaiQ and other new products (including the potential for using the Company’s MosaiQ technology to infectious disease diagnostics), current estimates of upcoming operating results and expectations regarding our future funding sources. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include delays or denials of regulatory approvals or clearances for products or applications; market acceptance of our products; the impact of competition; the impact of facility expansions and expanded product development, clinical, sales and marketing activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or field trial studies; adverse results in connection with any ongoing or future legal proceedings; continued or worsening adverse conditions in the general domestic and global economic markets, including as a result of the global COVID-19 pandemic; as well as the other risks set forth in the Company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Quotient disclaims any obligation to update these forward-looking statements. The Quotient logo, Quotient MosaiQ and MosaiQ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.
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