Full Press Release Details
Burning Rock Reports Second Quarter 2022 Financial Results
GUANGZHOU, China, August 31, 2022 Burning Rock Biotech Limited (NASDAQ: BNR, the Company or Burning Rock ), a company focused on
the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended June 30, 2022.
Recent Business Updates
In-hospital and MRD driving growth uplift, but patient volumes negatively impacted by Covid related
Second Quarter 2022 Financial Results
Revenues were RMB130.8 million (US$19.5 million) for the three months ended June 30, 2022, representing a 2.8% increase from RMB127.3 million
for the same period in 2021.
Cost of revenues was RMB48.2 million (US$7.2 million) for the three months ended June 30, 2022,
representing a 30.2% increase from RMB37.0 million for the same period in 2021, primarily due to the increased depreciation in relation to our new laboratory and inventory write downs.
Gross profit was RMB82.6 million (US$12.3 million) for the three months ended June 30, 2022, representing a 8.5% decrease from
RMB90.2 million for the same period in 2021. Gross margin was 63.1% for the three months ended June 30, 2022, which decreased from 70.9% for the same period in 2021, primarily due to increased depreciation in relation to our new laboratory
and inventory write downs.
Non-GAAP gross profit was RMB90.9 million (US$13.6 million) for
the three months ended June 30, 2022, representing a 0.3% increase from RMB90.7 million for the same period in 2021. Non-GAAP gross margin was 69.5% for the three months ended June 30, 2022,
compared to 71.2% for the same period in 2021 primarily due to a 0.7% decrease of gross margin resulting from increase of RMB0.9 million in inventory write down.
Operating expenses were RMB348.1 million (US$52.0 million) for the three months ended June 30, 2022, representing a 19.1% increase from
RMB292.3 million for the same period in 2021.
Net loss was RMB262.1 million (US$39.1 million) for the three months ended June 30, 2022,
compared to RMB203.7 million for the same period in 2021.
Net cash used in operating activities was RMB109.3 million (US$16.3 million) for the
three months ended June 30, 2022, compared to RMB119.0 million for the same period in 2021. The balance of cash, cash equivalents, restricted cash and short-term investments was RMB1,153.1 million (US$172.1 million) as of
2022 Financial Guidance
quarter business volumes have been significantly impacted by Covid related restrictions, with severe volume drops in Shanghai and Beijing; however, pharma service revenues, new products and the in-hospital
business outside of Shanghai and Beijing have shown strong growth momentum. Burning Rock therefore retains its full year 2022 revenue guidance of approximately RMB620 million (US$92.6 million) for now, and would like to highlight the risks of
further Covid related impact in the second half of 2022 which is beyond the Company s control and inherently difficult to forecast.
Further to the Company s announcement on June 21, 2022 of a US$10 million share repurchase program, we are pleased to
announce that the repurchase program has been completed in full. The Company has repurchased a total of 3,023,138 Class A ordinary shares in the form of ADSs under the share repurchase program. The repurchased shares will be retained as
treasury shares and have not been taken out of the calculation of loss per share for the second quarter 2022 financial results.
Burning Rock will host a conference call to discuss the second quarter 2022 financial results at 8:30 a.m. U.S. Eastern Time (8:30 p.m.
Hong Kong time) on August 31, 2022.
Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the
call, using participant dial-in numbers and unique registrant ID which would be provided upon registering.
https://register.vevent.com/register/BI1f6043e15b804286b8c6f5db40d78456. Additionally, a live and archived webcast of the conference call will also be available on the company s investor relations website at
http://ir.brbiotech.com or through link https://edge.media-server.com/mmc/p/57gam4s5.
A replay of the webcast will be available for 12
months via the same link above.
Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS)
technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.
information about Burning Rock, please visit: ir.brbiotech.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will,
expects, anticipates, future, intends, plans, believes, estimates, target, confident and similar statements. Burning Rock may also make
written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about Burning Rock s beliefs and expectations, are forward-looking statements. Such statements are based upon management s current expectations and current market and operating
conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock s control. Forward-looking statements involve risks,
uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not
undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
In evaluating the business, the company considers and uses non-GAAP measures, such as
non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the
United States of America ( U.S. GAAP ). The company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The company defines
non-GAAP gross margin as gross margin excluding depreciation and amortization.
The company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The company believe non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization reflect the company s ongoing business operations in a manner that allows more meaningful
period-to-period comparisons.
Contact: IR@brbiotech.com
Selected Operating Data
| For the three months ended | ||||||||||||||||||||||||
| March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | |||||||||||||||||||
| Central Laboratory Channel: | ||||||||||||||||||||||||
| Number of patients tested | 7,716 | 8,155 | 7,808 | 8,235 | 7,743 | 8,060 | ||||||||||||||||||
| Number of ordering physicians (1) | 1,082 | 1,013 | 920 | 917 | 994 | 767 | ||||||||||||||||||
| Number of ordering hospitals (2) | 303 | 300 | 287 | 306 | 318 | 264 |
| As of | ||||||||||||||||||||||||
| March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | |||||||||||||||||||
| In-hospital Channel: | ||||||||||||||||||||||||
| Pipeline partner hospitals (1) | 22 | 22 | 24 | 23 | 24 | 25 | ||||||||||||||||||
| Contracted partner hospitals (2) | 32 | 34 | 34 | 41 | 41 | 43 | ||||||||||||||||||
| Total number of partner hospitals | 54 | 56 | 58 | 64 | 65 | 68 |
Selected Financial Data
| For the three months ended | ||||||||||||||||||||||||
| Revenues | March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | ||||||||||||||||||
| (RMB in thousands) | ||||||||||||||||||||||||
| Central laboratory channel | 74,561 | 79,999 | 78,817 | 85,976 | 74,211 | 78,597 | ||||||||||||||||||
| In-hospital channel | 28,994 | 40,502 | 43,714 | 51,906 | 48,957 | 34,177 | ||||||||||||||||||
| Pharma research and development channel | 3,068 | 6,778 | 4,084 | 9,463 | 12,356 | 18,072 | ||||||||||||||||||
| Total revenues | 106,623 | 127,279 | 126,615 | 147,345 | 135,524 | 130,846 |
| For the three months ended | ||||||||||||||||||||||||
| Gross profit | March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | ||||||||||||||||||
| (RMB in thousands) | ||||||||||||||||||||||||
| Central laboratory channel | 55,212 | 58,681 | 58,387 | 65,985 | 50,574 | 57,575 | ||||||||||||||||||
| In-hospital channel | 20,070 | 29,426 | 31,111 | 34,194 | 33,396 | 20,012 | ||||||||||||||||||
| Pharma research and development channel | 1,658 | 2,124 | 2,098 | 5,200 | 3,610 | 5,015 | ||||||||||||||||||
| Total gross profit | 76,940 | 90,231 | 91,596 | 105,379 | 87,580 | 82,602 |
| For the three months ended | ||||||||||||||||||||||||
| Share-based compensation expenses | March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | ||||||||||||||||||
| (RMB in thousands) | ||||||||||||||||||||||||
| Cost of revenues | 339 | 406 | 267 | 492 | 365 | 441 | ||||||||||||||||||
| Research and development expenses | 22,404 | 20,825 | (9,559 | ) | (4,033 | ) | 12,299 | 11,923 | ||||||||||||||||
| Selling and marketing expenses | 2,633 | 2,809 | 2,044 | 2,126 | 1,774 | 2,158 | ||||||||||||||||||
| General and administrative expenses | 59,382 | 59,369 | 60,803 | 62,126 | 65,715 | 62,615 | ||||||||||||||||||
| Total share-based compensation expenses | 84,758 | 83,409 | 53,555 | 60,711 | 80,153 | 77,137 |
Burning Rock Biotech Limited
Unaudited Condensed Statements of Comprehensive Loss
(in thousands, except for number of shares and per share data)
| For the three months ended | ||||||||||||||||||||||||||||
| March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | June 30, 2022 | ||||||||||||||||||||||
| RMB | RMB | RMB | RMB | RMB | RMB | US$ | ||||||||||||||||||||||
| Revenues | 106,623 | 127,279 | 126,615 | 147,345 | 135,524 | 130,846 | 19,534 | |||||||||||||||||||||
| Cost of revenues | (29,683 | ) | (37,048 | ) | (35,019 | ) | (41,966 | ) | (47,944 | ) | (48,244 | ) | (7,203 | ) | ||||||||||||||
| Gross profit | 76,940 | 90,231 | 91,596 | 105,379 | 87,580 | 82,602 | 12,331 | |||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||||
| Research and development expenses | (77,414 | ) | (108,071 | ) | (69,649 | ) | (112,724 | ) | (119,496 | ) | (92,112 | ) | (13,752 | ) | ||||||||||||||
| Selling and marketing expenses | (55,130 | ) | (68,058 | ) | (76,687 | ) | (103,221 | ) | (89,211 | ) | (105,634 | ) | (15,771 | ) | ||||||||||||||
| General and administrative expenses | (116,259 | ) | (116,130 | ) | (116,304 | ) | (141,563 | ) | (141,733 | ) | (150,316 | ) | (22,442 | ) | ||||||||||||||
| Total operating expenses | (248,803 | ) | (292,259 | ) | (262,640 | ) | (357,508 | ) | (350,440 | ) | (348,062 | ) | (51,965 | ) | ||||||||||||||
| Loss from operations | (171,863 | ) | (202,028 | ) | (171,044 | ) | (252,129 | ) | (262,860 | ) | (265,460 | ) | (39,634 | ) | ||||||||||||||
| Interest income | 787 | 681 | 958 | 1,031 | 1,832 | 2,685 | 401 | |||||||||||||||||||||
| Interest expenses | (510 | ) | (565 | ) | (367 | ) | (94 | ) | 119 | (29 | ) | (4 | ) | |||||||||||||||
| Other income (expense), net | 118 | 433 | 20 | (372 | ) | 298 | 127 | 19 | ||||||||||||||||||||
| Foreign exchange gain (loss), net | 57 | (560 | ) | 380 | (731 | ) | (777 | ) | 624 | 93 | ||||||||||||||||||
| Loss before income tax | (171,411 | ) | (202,039 | ) | (170,053 | ) | (252,295 | ) | (261,388 | ) | (262,053 | ) | (39,125 | ) | ||||||||||||||
| Income tax (expenses) benefits | (1,626 | ) | (424 | ) | 1,151 | (84 | ) | (13 | ) | |||||||||||||||||||
| Net loss | (171,411 | ) | (203,665 | ) | (170,477 | ) | (251,144 | ) | (261,388 | ) | (262,137 | ) | (39,138 | ) | ||||||||||||||
| Net loss attributable to Burning Rock Biotech Limited s shareholders | (171,411 | ) | (203,665 | ) | (170,477 | ) | (251,144 | ) | (261,388 | ) | (262,137 | ) | (39,138 | ) | ||||||||||||||
| Net loss attributable to ordinary shareholders | (171,411 | ) | (203,665 | ) | (170,477 | ) | (251,144 | ) | (261,388 | ) | (262,137 | ) | (39,138 | ) | ||||||||||||||
| Loss per share for class A and class B ordinary shares: | ||||||||||||||||||||||||||||
| Class A ordinary shares - basic and diluted | (1.65 | ) | (1.96 | ) | (1.64 | ) | (2.40 | ) | (2.50 | ) | (2.50 | ) | (0.37 | ) | ||||||||||||||
| Class B ordinary shares - basic and diluted | (1.65 | ) | (1.96 | ) | (1.64 | ) | (2.40 | ) | (2.50 | ) | (2.50 | ) | (0.37 | ) | ||||||||||||||
| Weighted average shares outstanding used in loss per share computation: | ||||||||||||||||||||||||||||
| Class A ordinary shares - basic and diluted | 86,721,263 | 86,764,260 | 86,908,975 | 87,128,297 | 87,179,752 | 87,532,539 | 87,532,539 | |||||||||||||||||||||
| Class B ordinary shares - basic and diluted | 17,324,848 | 17,324,848 | 17,324,848 | 17,324,848 | 17,324,848 | 17,324,848 | 17,324,848 | |||||||||||||||||||||
| Other comprehensive income (loss), net of tax of nil: | ||||||||||||||||||||||||||||
| Foreign currency translation adjustments | 14,080 | (34,980 | ) | 6,146 | (24,726 | ) | (3,065 | ) | 29,715 | 4,436 | ||||||||||||||||||
| Total comprehensive loss | (157,331 | ) | (238,645 | ) | (164,331 | ) | (275,870 | ) | (264,453 | ) | (232,422 | ) | (34,702 | ) | ||||||||||||||
| Total comprehensive loss attributable to Burning Rock Biotech Limited s shareholders | (157,331 | ) | (238,645 | ) | (164,331 | ) | (275,870 | ) | (264,453 | ) | (232,422 | ) | (34,702 | ) |
Burning Rock Biotech Limited
Unaudited Condensed Statements of Comprehensive Loss
(in thousands, except for number of shares and per share data)
| For the six months ended | ||||||||||||
| June 30, 2021 | June 30, 2022 | June 30, 2022 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| Revenues | 233,902 | 266,370 | 39,768 | |||||||||
| Cost of revenues | (66,731 | ) | (96,188 | ) | (14,361 | ) | ||||||
| Gross profit | 167,171 | 170,182 | 25,407 | |||||||||
| Operating expenses: | ||||||||||||
| Research and development expenses | (185,485 | ) | (211,608 | ) | (31,592 | ) | ||||||
| Selling and marketing expenses | (123,188 | ) | (194,845 | ) | (29,090 | ) | ||||||
| General and administrative expenses | (232,389 | ) | (292,049 | ) | (43,602 | ) | ||||||
| Total operating expenses | (541,062 | ) | (698,502 | ) | (104,284 | ) | ||||||
| Loss from operations | (373,891 | ) | (528,320 | ) | (78,877 | ) | ||||||
| Interest income | 1,468 | 4,517 | 674 | |||||||||
| Interest expenses | (1,075 | ) | 90 | 13 | ||||||||
| Other income, net | 551 | 425 | 63 | |||||||||
| Foreign exchange loss, net | (503 | ) | (153 | ) | (23 | ) | ||||||
| Loss before income tax | (373,450 | ) | (523,441 | ) | (78,150 | ) | ||||||
| Income tax expenses | (1,626 | ) | (84 | ) | (13 | ) | ||||||
| Net loss | (375,076 | ) | (523,525 | ) | (78,163 | ) | ||||||
| Net loss attributable to Burning Rock Biotech Limited s shareholders | (375,076 | ) | (523,525 | ) | (78,163 | ) | ||||||
| Net loss attributable to ordinary shareholders | (375,076 | ) | (523,525 | ) | (78,163 | ) | ||||||
| Loss per share for class A and class B ordinary shares: | ||||||||||||
| Class A ordinary shares - basic and diluted | (3.60 | ) | (5.00 | ) | (0.75 | ) | ||||||
| Class B ordinary shares - basic and diluted | (3.60 | ) | (5.00 | ) | (0.75 | ) | ||||||
| Weighted average shares outstanding used in loss per share computation: | ||||||||||||
| Class A ordinary shares - basic and diluted | 86,742,880 | 87,357,120 | 87,357,120 | |||||||||
| Class B ordinary shares - basic and diluted | 17,324,848 | 17,324,848 | 17,324,848 | |||||||||
| Other comprehensive income (loss), net of tax of nil: | ||||||||||||
| Foreign currency translation adjustments | (20,900 | ) | 26,650 | 3,979 | ||||||||
| Total comprehensive loss | (395,976 | ) | (496,875 | ) | (74,184 | ) | ||||||
| Total comprehensive loss attributable to Burning Rock Biotech Limited s shareholders | (395,976 | ) | (496,875 | ) | (74,184 | ) |
Burning Rock Biotech Limited
Unaudited Condensed Consolidated Balance Sheets
| As of | ||||||||||||
| December 31, 2021 | June 30, 2022 | June 30, 2022 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| ASSETS | ||||||||||||
| Current assets: | ||||||||||||
| Cash and cash equivalents | 1,431,317 | 1,148,597 | 171,481 | |||||||||
| Restricted cash | 7,795 | 4,453 | 665 | |||||||||
| Short-term investments | 63,757 | |||||||||||
| Accounts receivable, net | 92,197 | 100,960 | 15,073 | |||||||||
| Contract assets, net | 42,391 | 44,593 | 6,657 | |||||||||
| Inventories, net | 123,210 | 129,637 | 19,355 | |||||||||
| Prepayments and other current assets, net | 60,279 | 34,845 | 5,205 | |||||||||
| Total current assets | 1,820,946 | 1,463,085 | 218,436 | |||||||||
| Non-current assets: | ||||||||||||
| Equity method investment | 910 | 733 | 109 | |||||||||
| Convertible note receivable | 5,000 | 746 | ||||||||||
| Property and equipment, net | 325,438 | 301,249 | 44,975 | |||||||||
| Operating right-of-use assets | 81,007 | 66,655 | 9,951 | |||||||||
| Intangible assets, net | 5,150 | 3,354 | 500 | |||||||||
| Other non-current assets | 45,136 | 21,198 | 3,165 | |||||||||
| Total non-current assets | 457,641 | 398,189 | 59,446 | |||||||||
| TOTAL ASSETS | 2,278,587 | 1,861,274 | 277,882 |
Burning Rock Biotech Limited
Unaudited Condensed Consolidated Balance Sheets (Continued)
| As of | ||||||||||||
| December 31, 2021 | June 30, 2022 | June 30, 2022 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| LIABILITIES AND SHAREHOLDERS EQUITY | ||||||||||||
| Current liabilities: | ||||||||||||
| Accounts payable | 63,080 | 56,495 | 8,434 | |||||||||
| Deferred revenue | 142,871 | 163,093 | 24,349 | |||||||||
| Accrued liabilities and other current liabilities | 127,892 | 98,435 | 14,696 | |||||||||
| Customer deposits | 972 | 1,052 | 157 | |||||||||
| Short-term borrowing | 2,370 | 2,370 | 354 | |||||||||
| Current portion of operating lease liabilities | 34,999 | 38,005 | 5,674 | |||||||||
| Total current liabilities | 372,184 | 359,450 | 53,664 | |||||||||
| Non-current liabilities: | ||||||||||||
| Non-current portion of operating lease liabilities | 49,316 | 32,349 | 4,830 | |||||||||
| Other non-current liabilities | 11,776 | 37,242 | 5,560 | |||||||||
| Total non-current liabilities | 61,092 | 69,591 | 10,390 | |||||||||
| TOTAL LIABILITIES | 433,276 | 429,041 | 64,054 | |||||||||
| Shareholders equity: | ||||||||||||
| Class A ordinary shares | 116 | 116 | 18 | |||||||||
| Class B ordinary shares | 21 | 21 | 3 | |||||||||
| Additional paid-in capital | 4,280,956 | 4,431,603 | 661,621 | |||||||||
| Contra equity-prepayment for equity forward | (66,850 | ) | (9,980 | ) | ||||||||
| Accumulated deficits | (2,228,713 | ) | (2,752,238 | ) | (410,898 | ) | ||||||
| Accumulated other comprehensive loss | (207,069 | ) | (180,419 | ) | (26,936 | ) | ||||||
| Total shareholders equity | 1,845,311 | 1,432,233 | 213,828 | |||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 2,278,587 | 1,861,274 | 277,882 |
Burning Rock Biotech Limited
Unaudited Condensed Statements of Cash Flows
| For the three months ended | ||||||||||||
| June 30, 2021 | June 30, 2022 | June 30, 2022 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| Net cash used in operating activities | (118,998 | ) | (109,274 | ) | (16,318 | ) | ||||||
| Net cash (used in) generated from investing activities | (67,577 | ) | 30,729 | 4,590 | ||||||||
| Net cash used in financing activities | (8,961 | ) | (69,559 | ) | (10,384 | ) | ||||||
| Effect of exchange rate on cash, cash equivalents and restricted cash | (34,085 | ) | 26,279 | 3,924 | ||||||||
| Net decrease in cash, cash equivalents and restricted cash | (229,621 | ) | (121,825 | ) | (18,188 | ) | ||||||
| Cash, cash equivalents and restricted cash at the beginning of period | 2,112,886 | 1,274,875 | 190,334 | |||||||||
| Cash, cash equivalents and restricted cash at the end of period | 1,883,265 | 1,153,050 | 172,146 |
| For the six months ended | ||||||||||||
| June 30, 2021 | June 30, 2022 | June 30, 2022 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| Net cash used in operating activities | (232,143 | ) | (253,634 | ) | (37,871 | ) | ||||||
| Net cash generated from investing activities | 220,752 | 17,718 | 2,649 | |||||||||
| Net cash used in financing activities | (13,123 | ) | (73,493 | ) | (10,971 | ) | ||||||
| Effect of exchange rate on cash, cash equivalents and restricted cash | (17,427 | ) | 23,347 | 3,485 | ||||||||
| Net decrease in cash, cash equivalents and restricted cash | (41,941 | ) | (286,062 | ) | (42,708 | ) | ||||||
| Cash, cash equivalents and restricted cash at the beginning of period | 1,925,206 | 1,439,112 | 214,854 | |||||||||
| Cash, cash equivalents and restricted cash at the end of period | 1,883,265 | 1,153,050 | 172,146 |
Burning Rock Biotech Limited
Reconciliations of GAAP and Non-GAAP Results
| For the three months ended | ||||||||||||||||||||||||
| March 31, 2021 | June 30, 2021 | September 30, 2021 | December 31, 2021 | March 31, 2022 | June 30, 2022 | |||||||||||||||||||
| (RMB in thousands) | ||||||||||||||||||||||||
| Gross profit: | ||||||||||||||||||||||||
| Central laboratory channel | 55,212 | 58,681 | 58,387 | 65,985 | 50,574 | 57,575 | ||||||||||||||||||
| In-hospital channel | 20,070 | 29,426 | 31,111 | 34,194 | 33,396 | 20,012 | ||||||||||||||||||
| Pharma research and development channel | 1,658 | 2,124 | 2,098 | 5,200 | 3,610 | 5,015 | ||||||||||||||||||
| Total gross profit | 76,940 | 90,231 | 91,596 | 105,379 | 87,580 | 82,602 | ||||||||||||||||||
| Add: depreciation and amortization: | ||||||||||||||||||||||||
| Central laboratory channel | 117 | 284 | 1,254 | 995 | 2,553 | 2,545 | ||||||||||||||||||
| In-hospital channel | 79 | 113 | 109 | 130 | 93 | 1,428 | ||||||||||||||||||
| Pharma research and development channel | 10 | 40 | 19 | 856 | 2,493 | 4,327 | ||||||||||||||||||
| Total depreciation and amortization included in cost of revenues | 206 | 437 | 1,382 | 1,981 | 5,139 | 8,300 | ||||||||||||||||||
| Non-GAAP gross profit: | ||||||||||||||||||||||||
| Central laboratory channel | 55,329 | 58,965 | 59,641 | 66,980 | 53,127 | 60,120 | ||||||||||||||||||
| In-hospital channel | 20,149 | 29,539 | 31,220 | 34,324 | 33,489 | 21,440 | ||||||||||||||||||
| Pharma research and development channel | 1,668 | 2,164 | 2,117 | 6,056 | 6,103 | 9,342 | ||||||||||||||||||
| Total non-GAAP gross profit | 77,146 | 90,668 | 92,978 | 107,360 | 92,719 | 90,902 | ||||||||||||||||||
| Non-GAAP gross margin: | ||||||||||||||||||||||||
| Central laboratory channel | 74.2 | % | 73.7 | % | 75.7 | % | 77.9 | % | 71.6 | % | 76.5 | % | ||||||||||||
| In-hospital channel | 69.5 | % | 72.9 | % | 71.4 | % | 66.1 | % | 68.4 | % | 62.7 | % | ||||||||||||
| Pharma research and development channel | 54.4 | % | 31.9 | % | 51.8 | % | 64.0 | % | 49.4 | % | 51.7 | % | ||||||||||||
| Total non-GAAP gross margin | 72.4 | % | 71.2 | % | 73.4 | % | 72.9 | % | 68.4 | % | 69.5 | % |