Generated record orders for over 105 spatial biology instruments in Q4, showing 50% year-over-year growth
Fourth Quarter Product and Services Revenue Exceeds $34M with Guidance Range of $33M to $35M
Seattle, January 8, 2023–(BUSINESS WIRE)–Nanostring Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, announced today that it will reported preliminary financial and operational highlights for the fiscal year ended in . 2022.
“NanoString continues to build a strong spatial biology franchise in 2022, winning a record fourth quarter with over 105 new system orders and increasing spatial biology system orders by 50% for the full year. .” of nanostrings. “We shipped the first of his CosMx systems to his customers in December. His CosMx backlog of approximately $40 million by the end of the year will be the foundation for revenue growth in 2023.”
Fourth Quarter and 2022 Highlights
Spatial biology
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In the fourth quarter, the company secured customer orders for over 105 spatial biology systems, including approximately 80 for CosMx™ Spatial Molecular Imagers (SMIs) and over 25 for GeoMx Digital Spatial Profilers (DSPs). This is a 50% increase compared to 2021 for both fourths. Quarterly and Full Year 2022
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CosMx SMI was highlighted on the cover of the December 2022 issue. nature biotechnologyshowing high-resolution, single-cell imaging of RNA and protein
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NanoString has been named a Gold Sponsor of the 2023 Genome Biology and Advances in Technology (AGBT) Conference. There, on February 7, 2023, we will host a workshop highlighting advances in our spatial biology platform and showcasing research conducted by our collaborators and customers.
n counter
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nCounter closed out 2022 with an installed base of about 1,120 systems, an increase of about 7% compared to 2021.
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As of December 2022, the total number of peer-reviewed publications featuring nCounter is approximately 6,520, an increase of approximately 1,320 publications over the past 12 months.
Earnings report
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Product and services revenue for the fourth quarter of 2022 is expected to exceed $34 million, within the guidance range of $33 million to $35 million.
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Full-year 2022 product and services revenue is expected to be approximately $127 million, within the guidance range of $125 million to $127 million.
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Cash, cash equivalents and short-term investments are expected to exceed $195 million as of December 31, 2022
These preliminary results are based on management’s initial analysis of operations for the quarter and year ended December 31, 2022 and are subject to further internal review and audit by the company’s external auditors.
About Nanostring Technologies
NanoString Technologies, a leader in spatial biology, offers an ecosystem of innovative discovery and translational research solutions, enabling customers to map the biological universe. Cited in nearly 190 peer-reviewed publications, the GeoMx® Digital Spatial Profiler combines the power of whole-tissue imaging with spatial-wide transcriptomics and proteomics gene expression and protein data from one his FFPE slide A flexible and consistent solution. The CosMx™ Spatial Molecular Imager is his FFPE-compatible single-cell imaging platform powered by spatial multi-omics that allows researchers to map single cells in their native environment to deliver deep biological insights and insights from a single experiment. new discoveries can be drawn. The AtoMx™ Spatial Informatics Platform is a cloud-based informatics solution with advanced analytics and global collaboration capabilities to enable powerful spatial biology insights anytime, anywhere. The foundation of our research tools is the nCounter® analysis system, cited in approximately 6,500 peer-reviewed publications. This system provides a safe way to easily profile the expression of hundreds of genes, proteins, miRNAs or copy number variations. sensitivity and precision. For more information, please visit www.nanostring.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Our fourth quarter and fiscal year 2022 operating and financial forecasts, our expectations for demand for our products and growth of our business, the impact of new products and expansion into new markets, and the growth of our nCounter and Spatial Biology franchises. trajectory. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties, many of which are beyond our control, are subject to actual financial results for the three months and one year ended December 31, 2022, presented in our news release. Includes risks that differ from those estimates. Market acceptance of our products. adverse conditions in general domestic and global economic markets; impact of ongoing litigation; impact of competition; impact of increased sales, marketing and product development on operating expenses; delays or other unforeseen problems with manufacturing and product development; Other risks described in filings with the Securities and Exchange Commission. Additionally, as we are in the process of finalizing our financial results for the fourth quarter and fiscal year ended December 31, 2022, the final audit results and final analysis of those results are not yet available. Preliminary forecasts for fourth quarter 2022 and full year 2022 earnings and year-end cash, cash equivalents and short-term investment balances are management’s responsibility and are subject to management’s review and actual results are subject to change. It may differ from management’s projections. Actual results have also been audited by an independent registered public accounting firm and such preliminary projections are not guaranteed by such independent registered public accounting firm. No conclusions can be drawn regarding other financial results as of December 31, 2022 and for the fiscal year ended December 31, 2022 based on the aforementioned estimates. These forward-looking statements speak only as of the date hereof. NanoString Technologies undertakes no obligation to update these forward-looking statements.
The NanoString logo, NanoString, NanoString Technologies, GeoMx, CosMx, and nCounter are trademarks or registered trademarks of NanoString Technologies, Inc. in the United States and/or other countries.
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contact address
Doug Farrell
Vice President, Investor Relations & Corporate Communications
dfarrell@nanostring.com
Phone: 206-602-1768
