Analyst Conference Summary

conference date: August 5, 2021 @ 2:00 PM Pacific Time
for quarter ending: June 30, 2021 (second quarter, Q2 2021)

Forward-looking statements

Overview: OOPS! The data on this page got erased. Consult the company website, as it is not worth it to me to recreate the page at this point. -- William Meyers

Basic data (GAAP):

Revenue was $ billion, a record, up % sequentially from $1.13 billion and up % from $ million in the year-earlier quarter.

Net income was $ million, up % sequentially from $185 million, and up % from $ million year-earlier.

Diluted EPS was $, up % sequentially from $1.26, and up 325% from $ year-earlier.

Guidance:

Conference Highlights:

Francis deSouza, President and CEO, said ""

In Q2 2021 announced a partnership with Kartos Therapeutics for comprehensive genomic profiling for blood cancers. Received Emergency Use Authorization from the U.S. FDA for COVIDSeq on NextSeq 2000, expanding COVID-19 diagnostic testing and surveillance capabilities for mid- and high-throughput laboratories.

In Q3 2021 sequencing consumables revenue of $ million was up % year-over-year, driven by demand in both Clinical and Research segments. Oncology testing recorded its third consecutive quarter of outstanding year-over-year growth as customers announced additional offerings for therapy selection and MRD tests.

Non-GAAP numbers: net income $ million, down 1% sequentially from $276 million, and up % from $ million year-earlier. Diluted EPS was $, down % sequentially from $1.87, and up % from $ year-earlier.

Cash, equivalents and investment balance was $ billion, down sequentialy from $ billion. Long term debt $ billion. Cash flow from operations was $253 million. Free cash flow was $ million. Capital expenditures were $ million. Cash used to repurchase stock was $0 million.

Product revenue was $ million, services $ million.

GAAP cost of revenue was million, leaving gross profit of $ million. Operating expenses were $ million, consisting of: $ million for research and development; $ million for selling, general, and administrative. Leaving income from operations of $ million. Other income was $ million. Income tax provision $ million.

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