NanoString Expects Q4 Product And Service Revenue Growth Of 18%

NanoString Technologies Inc NSTG expects Q4 FY21 product and service revenue of approximately $42 million, +18% Y/Y and at the upper end of the company's guidance of $38 million - $42 million.

  • For FY21, the company expects product and service revenue to be approximately $144 million, +29% YY and at the upper end of the company's prior guidance of $140 million - $144 million.
  • The company generated record orders for more than 50 GeoMx Digital Spatial Profiler (DSP) systems in Q4, +80% Y/Y.
  • Installed approximately 30 GeoMx systems in Q4, increasing the GeoMx installed base to around 255 systems.
  • NanoString has secured customer orders for 20 CosMx Spatial Molecular Imager systems. The company concluded 2021 with a nCounter installed base of approximately 1,050 systems, +11% Y/Y.
  • For Q4, GeoMx DSP revenue is expected to be approximately $18 million + 48% Y/Y and above the upper end of the company's guidance of $15 million - $16 million.
  • FY21 GeoMx DSP revenue is expected to be approximately $52 million, +49% Y/Y, and ahead of revenue guidance of $49 million - $50 million.
  • For Q4, nCounter revenue is expected to reach $24 million, +2% Y/Y and in line with the expected $23 million - $26 million.
  • For the full year, nCounter revenue is expected to be approximately $92 million, +20% Y/Y, and compared to guidance of $91 million - $94 million.
  • NanoString held cash and equivalents of $350 million as of December 31, 2021.
  • Price Action: NSTG shares closed lower by 3.61% at $34.18 on Friday.

Posted In: BriefsEarningsNewsGuidanceHealth CareSmall CapGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.