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Accelerate Q4 Revenue Of $11.7 Vs $12.1M YoY, $16.3M Cash Ending 2024; 3% Rise In Consumable Revenue Amid Pheno Capital Sales Decline

Author: Benzinga Newsdesk | January 10, 2025 05:14pm

2024 Fourth Quarter and Full-Year Financial Results

Preliminary revenue was approximately $11.7 million for the year, compared to $12.1 million in the prior year. While year-over-year revenues for consumable products increased by approximately 3%, overall revenue was down year-over-year due to lower revenues from capital sales of Pheno instruments compared to the prior year.
Ended the year with approximately $16.3 million in cash and cash equivalents, compared to $20.9 million at the start of the fourth quarter, a reduction in cash and cash equivalents for the fourth quarter of 2024 of $4.5 million. This reflects our continued reduction in operating cash use over the prior quarters of 2024.

Posted In: AXDX