bullish
Burning Rock Biotech (BNR US): Despite Q2 Results Missing Consensus Management Reiterated Guidance
268 Views01 Sep 2022 19:19
SUMMARY
- Burning Rock Biotech (BNR US) has announced Q2 results. Despite the negative impact from COVID-related restrictions in China, revenue increased 3% y/y to RMB130.8 million, driven by pharma R&D service.
- Gross margin deteriorated due to unfavorable revenue mix and inventory write down. Even upon this, operating expenses grew 19%, thereby widening net loss to RMB262.1 million.
- Encouraged by ongoing business volume recovery, management has reiterated full-year 2022 revenue guidance of approximately RMB620 million, indicating H2 2022 revenue of RMB354 million, which represents 29% y/y growth.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Rising
Tina Banerjee
Global Healthcare Analyst
Price Chart(Sign Up to Access)
- Burning Rock Biotech (BNR US) 1Q22: Double-Digit Revenue Growth; China Re-Opening to Boost Recovery02 Jun 2022
- Burning Rock Biotech (BNR US): Attractive Growth Story Outshined by Surging COVID Cases in China31 Mar 2022
- Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?25 Jun 2018
x