Announcement • Aug 19
Accelerate Diagnostics, Inc. announced delayed 10-Q filing On 08/18/2025, Accelerate Diagnostics, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 17
Accelerate Diagnostics, Inc. announced delayed 10-Q filing On 05/16/2025, Accelerate Diagnostics, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 16
Accelerate Diagnostics, Inc.(OTCPK:AXDX.Q) dropped from NASDAQ Composite Index Accelerate Diagnostics, Inc has been dropped from the NASDAQ Composite Index Announcement • May 13
Accelerate Diagnostics Receives Delisting Determination and Minimum Bid Price Non-Compliance Letter from Nasdaq As previously disclosed, on May 8, 2025, Accelerate Diagnostics, Inc. (the “ Company”) and certain of its subsidiaries (together, the “ Debtors”) filed voluntary petitions (the “ Bankruptcy Petitions”) under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (such court, the “ Court” and such cases, the “ Cases”). On May 8, 2025, the Company received written notice (the “ Delisting Notice”) from the Listing Qualifications Staff (the “ Staff”) of The Nasdaq Stock Market LLC (“ Nasdaq”) notifying the Company that, as a result of the Bankruptcy Petitions and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, the Staff has determined that the Company’s common stock (the “ Securities”) will be delisted from Nasdaq. In addition, on May 6, 2025, the Company received written notice from the Staff notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock had closed below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “ Minimum Bid Price Requirement”). In the Delisting Notice, the Staff stated that its determination was based on (i) public interest concerns related to the Bankruptcy Petitions, (ii) concerns regarding the residual equity interest of the existing holders of listed Securities and (iii) concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq. Specifically, the Staff noted that the Company was not in compliance with the Minimum Bid Price Requirement, nor in compliance with Nasdaq’s Market Value of Listed Securities (as defined under Nasdaq rules) requirement pursuant to Nasdaq Listing Rule 5550(b)(2) (the “ MVLS Requirement”), as previously disclosed in the Company’s Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “ SEC”) on January 30, 2025. As a result, the Staff determined that the Company’s Minimum Bid Price Requirement and MVLS Requirement deficiencies served as an additional and separate basis for delisting. The Delisting Notice also indicates that the Company may appeal Nasdaq’s determination pursuant to procedures set in the Nasdaq Listing Rule 5800 Series. The Company does not intend to appeal the determination and, therefore, it is expected that the Securities will be delisted. Trading of the Securities will be suspended at the opening of business on May 15, 2025 and a Form 25-NSE will be filed by Nasdaq with the SEC, which will remove the Securities from listing and registration on Nasdaq. The Company expects the Securities will begin trading on the over-the-counter (the “ OTC”) market under the symbol “AXDXQ” on May 15, 2025, but no assurance can be made that trading in the Securities on the OTC market will commence or be maintained. Announcement • Apr 16
Accelerate Diagnostics, Inc. Announces Director Appointments, Effective from April 10, 2025 On April 10, 2025, the Board of Directors of Accelerate Diagnostics, Inc, unanimously elected Paul Shalhoub and Gilbert Nathan to serve as new directors, effective immediately. Messrs. Shalhoub and Nathan will serve as members of the Board until their successors are elected and qualified or until their earlier death, resignation, disqualification or removal. Mr. Nathan was proposed for election to the Board by certain holders pursuant to their director nomination rights under that certain note purchase agreement, dated August 8, 2024, relating to the Company’s 16.00% Super-Priority Senior Secured PIK Notes due 2025. The Board reviewed Mr. Nathan’s qualifications and unanimously agreed to his appointment. There are no transactions between the Company and either Messrs. Shalhoub or Nathan that would require disclosure under Item 404(a) of Regulation S-K. The Board has determined that Messrs. Shalhoub and Nathan are independent directors under the applicable rules of the Nasdaq Stock Market LLC. Announcement • Mar 22
Accelerate Diagnostics Submits WAVE System and Gram-Negative Positive Blood Culture Menu to the FDA for 510(k) Clearance Accelerate Diagnostics, Inc. announced the submission of its Accelerate WAVE system and positive blood culture gram-negative test kit to the U.S. Food and Drug Administration (FDA) for 510(k) clearance. The Accelerate WAVE system is designed to provide rapid antimicrobial susceptibility testing (AST) directly from positive blood culture bottles and bacterial isolate colonies. The WAVE system is designed to deliver accurate results in an average of 4.5 hours, enabling same shift targeted antimicrobial therapy for patients with serious infections. With a user-friendly workflow, high throughput capacity, and scalable design, once approved by the FDA, the WAVE system will offer microbiology laboratories a comprehensive AST solution to meet a wide range of testing demands and hospital formulary needs. According to the World Health Organization, sepsis affects an estimated 49 million people globally each year, resulting in approximately 11 million deaths. Of those, around 1.32 million deaths are attributed to bacterial antimicrobial resistance. Sepsis also represents the most significant cost burden to the U.S. healthcare system, with an estimated annual expense of $62 billion. By delivering rapid AST results, the WAVE system is designed to support earlier, targeted antimicrobial therapy-- improving patient outcomes, reducing hospital costs, and helping combat antimicrobial resistance. Announcement • Jan 30
Accelerate Diagnostics Receives Non-Compliance Letter Regarding Nasdaq MVLS Requirement On January 28, 2025, Accelerate Diagnostics, Inc. (the Company") received written notice (the Notice") from the Listing Qualifications Staff (the Staff") of the Nasdaq Stock Market, LLC (Nasdaq") notifying the Company that, for the last 30 consecutive business days prior to the date of the Notice, the Company's Market Value of Listed Securities (as defined under Nasdaq rules) was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the MVLS Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until July 28, 2025 (the Compliance Date"), to regain compliance with the MVLS Requirement. If, at any time before the Compliance Date, the Market Value of the Company's common stock (calculated in accordance with Nasdaq rules) closes at $35 million or more for a minimum of ten consecutive business days, Nasdaq will provide written confirmation to the Company and close the matter. The Notice does not result in the delisting of the Company's common stock from the Nasdaq Capital Market. However, in the event the Company does not regain compliance with the MVLS Requirement prior to the Compliance Date, the Company will receive written notification that its common stock will be subject to delisting. At that time, the Company may appeal the Staff's delisting determination to a Nasdaq Hearing Panel. The Company is evaluating potential actions to regain compliance with the MVLS Requirement and intends to actively monitor the market value of its common stock. There can be no assurance that the Company will regain compliance with the MVLS Requirement or otherwise maintain compliance with any of the other Nasdaq listing requirements. Announcement • Oct 01
Accelerate Diagnostics, Inc. Announces FDA Clearance of its Accelerate Arc™? System Accelerate Diagnostics, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance of the Accelerate Arc system and BC kit, an innovative, automated positive blood culture sample preparation platform, for use with Bruker's MALDI Biotyper®? CA System (MBT-CA System) and MBT-CA Sepsityper®? software extension. Designed for clinical laboratories, the Accelerate Arc system has a simple workflow that automates positive blood culture sample preparation for direct downstream microbial identification (ID) using Bruker's MBT-CA system. This eliminates the need for overnight culture methods, reducing the wait time for microbial ID results, which is critical in the fight against sepsis. The Accelerate Arc system is designed to leverage the breadth of the Bruker MBT-CA reference library to provide rapid ID. This, in conjunction with its future rapid phenotypic antibiotic susceptibility testing (AST) innovation, the Accelerate WAVE™ system1, can enable same shift reporting to Antimicrobial Stewardship teams and clinicians alike. By providing clinicians with rapid ID and AST results, clinicians can get the patient on the optimal antibiotic therapy many hours sooner, which has been shown to improve patient outcomes with Sepsis, reduce antimicrobial resistance rates and hospital costs. The Accelerate Arc system is also designed to supplant both overnight subculture as well as laborious Laboratory Developed Test (LDT) sample preparation methods. Clinical laboratories are under pressure to run FDA-cleared devices due to increased legislation and enforcement associated with the use of LDTs. Accordingly, such laboratories can now utilize the Accelerate Arc system as an automated, FDA-cleared system. Announcement • Aug 09
Accelerate Diagnostics, Inc. Announces Successful Completion of Its Wave Pre-Clinical Trial Accelerate Diagnostics, Inc. announced the successful completion of its WAVE pre-clinical trial. The Accelerate WAVE system is designed to deliver rapid antimicrobial susceptibility testing ("AST") directly from positive blood culture ("PBC") bottles and bacterial isolated colonies ("Isolates") to report accurate results within 4.5 hours, on average. By delivering rapid AST results, patients with serious infections can be put on targeted antimicrobial therapy to improve patient outcomes, cut hospital costs, and reduce antimicrobial resistance. The pre-clinical trial included 1,570 WAVE results compared to Broth Microdilution ("BMD"), the reference method. The trial included an equal number of prospective patient samples and site selected challenge samples which resulted in excellent concordance between sample types. About the Accelerate WAVE System: The Accelerate WAVE system are intended to deliver same-shift antibiotic susceptibility test results enabling antimicrobial stewardship teams and clinicians alike to tailor therapy for patients with serious infections in a timely manner. Getting the patient on optimal therapy, as shown with numerous peer-reviewed publications, not only reduces morbidity associated with bacteremia but also reduces healthcare costs. The WAVE system will offer a comprehensive test menu and incorporates essential features to optimize workflow across laboratories. With full random access for continuous sample loading, the scalability of the Wave system addresses the needs of various health care settings from small community hospitals to large academic centers and reference labs. The WAVE System employs novel holographic imaging technology to determine bacterial growth and morphology changes in real time, enabling same-shift, quantitative usceptibility test results. Announcement • May 03
Accelerate Diagnostics, Inc. to Report Q1, 2024 Results on May 08, 2024 Accelerate Diagnostics, Inc. announced that they will report Q1, 2024 results on May 08, 2024 Announcement • May 01
Accelerate Diagnostics, Inc. Receives Written Notice from the Listing Qualifications Staff of Nasdaq On April 26, 2024, Accelerate Diagnostics, Inc. (the Company") received written notice from the Listing Qualifications Staff (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's common stock had closed below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the Minimum Bid Price Requirement"). In accordance with Nasdaq rules, the Company has been provided an initial period of 180 calendar days, or until October 23, 2024 (the Compliance Date"), to regain compliance with the Minimum Bid Price Requirement. If, at any time before the Compliance Date, the closing bid price for the Company's common stock is at least $1.00 for a minimum of ten consecutive business days, the Staff will provide the Company written confirmation of compliance with the Minimum Bid Price Requirement and close the matter. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period, provided that it meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and notifies the Staff in writing of its intention to cure the deficiency during the additional compliance period. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date and is not eligible for an additional compliance period at that time, the Staff will provide written notification to the Company that its common stock will be subject to delisting. At that time, the Company may appeal the Staff's delisting determination to a Nasdaq Hearing Panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or otherwise maintain compliance with any of the other Nasdaq listing requirements. The Company intends to monitor the closing bid price of its common stock and will consider various options available to it if its common stock does not trade at a level to regain compliance with the Minimum Bid Price Requirement. These options include effecting a reverse stock split designed to increase the bid price of the Company's common stock in an amount sufficient to regain compliance with the Minimum Bid Price Requirement. There can be no assurances that a reverse stock split will be consummated or that it will achieve its intended effects. Announcement • Apr 13
Accelerate Diagnostics, Inc., Annual General Meeting, May 07, 2024 Accelerate Diagnostics, Inc., Annual General Meeting, May 07, 2024, at 10:30 Pacific Daylight. Agenda: To elect the following 9 persons to serve as directors of the Company (“Directors”) until the 2025 Annual Meeting of Shareholders or until their successors have been duly elected and qualified: Mark Black, Wayne C. Burris, Louise L. Francesconi, Hany Massarany, Marran H. Ogilvie, John Patience, Jack Phillips, Jennifer Regan, and Jack W. Schuler; to ratify the selection of Ernst & Young LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2024; to approve an amendment to the Accelerate Diagnostics, Inc. 2022 Omnibus Equity Incentive Plan (the “2022 Incentive Plan”) to increase the total number of authorized shares of the Company’s common stock (“Shares”) available for grant thereunder by 4,000,000 Shares; and to transact such other business as may properly come before the meeting or any continuation, postponement or adjournment thereof. Announcement • Mar 06
Accelerate Diagnostics, Inc. Receives Written Notice from the Listing Qualifications Staff of the Nasdaq Stock Market, LLC On March 4, 2024, Accelerate Diagnostics, Inc. (the Company") received written notice (the Notice") from the Listing Qualifications Staff (the Staff") of the Nasdaq Stock Market, LLC (Nasdaq") notifying the Company that for the last 31 consecutive business days prior to the date of the Notice, the Company's Market Value of Listed Securities (as defined under Nasdaq rules) was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the MVLS Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until September 3, 2024 (the Compliance Date"), to regain compliance with the MVLS Requirement. If, at any time before the Compliance Date, the market value of the Company's common stock (calculated in accordance with Nasdaq rules) closes at $35 million or more for a minimum of ten consecutive business days, Nasdaq will provide written confirmation to the Company and close the matter. The Notice does not result in the delisting of the Company's common stock from the Nasdaq Capital Market. However, in the event the Company does not regain compliance with the MVLS Requirement prior to the Compliance Date, the Company will receive written notification that its common stock will be subject to delisting. At that time, the Company may appeal the Staff's delisting determination to a Nasdaq Hearing Panel. The Company is evaluating potential actions to regain compliance with the MVLS Requirement and intends to actively monitor the market value of its common stock. The Company may also, if appropriate, consider other options to regain compliance with Nasdaq's continued listing standards, such as by increasing its stockholders' equity to at least $2.5 million. There can be no assurance that the Company will regain compliance with the MVLS Requirement or otherwise maintain compliance with any of the other Nasdaq listing requirements. Announcement • Jan 25
Accelerate Diagnostics, Inc. announced that it expects to receive $4.749996 million in funding from Jack W. Schuler Living Trust Accelerate Diagnostics, Inc. announced that it has entered into a securities purchase agreement to issue 33,332 units at a price of $1.5 per unit for the gross proceeds of $49,998 and 2,716,762 units at a price of $1.73 per unit for the gross proceeds of $4,699,998.26 for the total gross proceeds of $4,749,996 on January 25, 2024. The transaction will include participation from individual investors, Chief Executive Officer and Chief Financial Officer for $49,998 and returning investor, Jack W. Schuler Living Trust for $4,749,996. The transaction became effective as of May 20, 2024. Announcement • Jan 21
Accelerate Diagnostics, Inc. has completed a Composite Units Offering. Accelerate Diagnostics, Inc. has completed a Composite Units Offering.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 6,860,659
Price\Range: $1.5
Security Name: Pre-Funded Units
Security Type: Equity/Derivative Unit
Securities Offered: 6,860,659
Price\Range: $1.49 Announcement • Jul 11
Accelerate Diagnostics Announces 1-For-10 Reverse Stock Split to Regain Compliance with the Minimum Bid Price Requirement of $1.00 Per Share Required to Maintain Continued Listing on the Nasdaq Capital Market Accelerate Diagnostics, Inc. (the "Company") announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-10. The reverse stock split will become effective at 5:00 p.m. Eastern Time, on July 11, 2023. The Company's common stock will begin trading on a post-split basis at the market open on July 12, 2023, under the Company's existing trading symbol "AXDX". The reverse stock split is part of the Company's plan to regain compliance with the Minimum Bid Price Requirement of $1.00 per share required to maintain continued listing on The Nasdaq Capital Market, among other benefits. The reverse stock split was approved by the Company's stockholders at the Company's Annual Meeting of Stockholders held on May 19, 2023 to be effected in the Board's discretion within approved parameters. The final ratio was approved by the Company's Board on July 7, 2023. The reverse stock split reduces the number of shares of the Company's outstanding common stock from approximately 144 million shares to approximately 14 million shares, subject to adjustment due to the payment of cash in lieu of fractional shares. As a result of the Reverse Stock Split, proportionate adjustments will be made to the number of shares of the Company's common stock underlying the Company's outstanding equity awards, warrants and convertible notes and the number of shares issuable under the Company's equity incentive plans and other existing agreements, as well as the exercise or conversion price, as applicable. There will be no change to the number of authorized shares or the par value per share. Reported Earnings • May 12
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$0.17 loss per share. Revenue: US$2.81m (down 4.9% from 1Q 2022). Net loss: US$16.8m (loss widened 18% from 1Q 2022). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -US$0.46 to -US$0.53 per share. Revenue forecast of US$15.1m unchanged since last update. Medical Equipment industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$0.60 unchanged from last update. Share price rose 32% to US$0.90 over the past week. Reported Earnings • Apr 06
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: US$0.76 loss per share (improved from US$1.26 loss in FY 2021). Revenue: US$12.8m (up 8.2% from FY 2021). Net loss: US$62.5m (loss narrowed 20% from FY 2021). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Mar 14
CEO, President & Director exercised options and sold US$73k worth of stock On the 8th of March, Jack Phillips exercised options to acquire 156k shares at no cost and sold these for an average price of US$0.47 per share. This trade did not impact their existing holding. For the year to December 2019, Jack's total compensation was 21% salary and 79% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Jack's direct individual holding has increased from 123.39k shares to 269.46k. Company insiders have collectively sold US$208k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 06
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: US$0.18 loss per share (further deteriorated from US$0.15 loss in 3Q 2021). Revenue: US$2.96m (down 5.2% from 3Q 2021). Net loss: US$15.9m (loss widened 77% from 3Q 2021). Revenue missed analyst estimates by 21%. Earnings per share (EPS) exceeded analyst estimates by 7.7%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Medical Equipment industry in the US. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. CEO, President & Director Jack Phillips was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jan 12
Accelerate Diagnostics Receives A Deficiency Letter from Nasdaq Regarding Minimum Bid Price Requirement On January 5, 2023, Accelerate Diagnostics, Inc. ("the Company") received a deficiency letter from the Listing Qualifications Department (the Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the Minimum Bid Price Requirement"). In accordance with Nasdaq rules, the Company has been provided an initial period of 180 calendar days, or until July 5, 2023 (the Compliance Date"), to regain compliance with the Minimum Bid Price Requirement. If, at any time before the Compliance Date, the closing bid price for the Company's common stock is at least $1.00 for a minimum of ten consecutive business days, the Staff will provide the Company written confirmation of compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period, provided that it meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and notifies the Staff of its intention to cure the deficiency during the additional compliance period. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date and is not eligible for an additional compliance period at that time, the Staff will provide written notification to the Company that its common stock will be subject to delisting. At that time, the Company may appeal the Staff's delisting determination to a Nasdaq Hearing Panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or otherwise maintain compliance with any of the other Nasdaq listing requirements. The Company intends to monitor the closing bid price of its common stock and will consider various options available to it if its common stock does not trade at a level to regain compliance with the Minimum Bid Price Requirement. These options include effecting a reverse stock split designed to increase the bid price of the Company's common stock in an amount sufficient to regain compliance with the Minimum Bid Price Requirement. There can be no assurances that a reverse stock split will be consummated or that it will achieve its intended effects. Major Estimate Revision • Nov 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$14.4m to US$12.7m. EPS estimate increased from -US$0.81 to -US$0.76 per share. Medical Equipment industry in the US expected to see average net income growth of 14% next year. Consensus price target down from US$4.00 to US$2.00. Share price fell 39% to US$0.92 over the past week. Price Target Changed • Nov 16
Price target decreased to US$2.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 79% above last closing price of US$1.12. Stock is down 80% over the past year. The company is forecast to post a net loss per share of US$0.80 next year compared to a net loss per share of US$1.26 last year. Recent Insider Transactions • Aug 31
Insider recently bought US$80k worth of stock On the 30th of August, Larry Mertz bought around 50k shares on-market at roughly US$1.60 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$11m more in shares than they have sold in the last 12 months. Major Estimate Revision • Aug 22
Consensus revenue estimates increase by 10% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from US$12.9m to US$14.3m. Forecast losses expected to reduce from -US$1.04 to -US$0.77 per share. Medical Equipment industry in the US expected to see average net income growth of 9.7% next year. Consensus price target up from US$1.00 to US$4.00. Share price fell 47% to US$1.43 over the past week. Reported Earnings • Aug 16
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.23 loss per share (up from US$0.35 loss in 2Q 2021). Revenue: US$3.86m (up 38% from 2Q 2021). Net loss: US$17.8m (loss narrowed 18% from 2Q 2021). Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 11%, compared to a 7.0% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Jun 27
CEO, President & Director exercised options and sold US$26k worth of stock On the 22nd of June, Jack Phillips exercised options to acquire 28k shares at no cost and sold these for an average price of US$0.91 per share. This trade did not impact their existing holding. For the year to December 2019, Jack's total compensation was 21% salary and 79% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2021, Jack's direct individual holding has increased from 117.04k shares to 208.07k. Company insiders have collectively bought US$10m more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • May 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$13.4m to US$12.9m. 2022 losses expected to reduce from -US$1.24 to -US$1.04 per share. Medical Equipment industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$5.00 to US$1.00. Share price fell 4.8% to US$0.58 over the past week. Reported Earnings • May 17
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: US$0.21 loss per share (up from US$0.41 loss in 1Q 2021). Revenue: US$2.96m (up 18% from 1Q 2021). Net loss: US$14.2m (loss narrowed 42% from 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 19%, compared to a 7.9% growth forecast for the industry in the US. Recent Insider Transactions Derivative • Apr 29
CEO, President & Director exercised options and sold US$82k worth of stock On the 28th of April, Jack Phillips exercised options to acquire 84k shares at no cost and sold these for an average price of US$0.98 per share. This trade did not impact their existing holding. For the year to December 2019, Jack's total compensation was 21% salary and 79% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2021, Jack's direct individual holding has increased from 112.70k shares to 123.39k. Company insiders have collectively bought US$10m more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • Apr 27
Price target decreased to US$5.00 Down from US$8.00, the current price target is an average from 4 analysts. New target price is 385% above last closing price of US$1.03. Stock is down 87% over the past year. The company is forecast to post a net loss per share of US$1.23 next year compared to a net loss per share of US$1.26 last year. Major Estimate Revision • Mar 15
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$15.8m to US$13.6m. Forecast losses increased from -US$1.13 to -US$1.24 per share. Medical Equipment industry in the US expected to see average net income growth of 19% next year. Consensus price target down from US$8.00 to US$5.00. Share price fell 32% to US$1.67 over the past week. Reported Earnings • Mar 09
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: US$1.26 loss per share (up from US$1.40 loss in FY 2020). Revenue: US$11.8m (up 5.5% from FY 2020). Net loss: US$77.7m (flat on FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 34%, compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 03
Insider recently bought US$66k worth of stock On the 31st of January, Hany Massarany bought around 20k shares on-market at roughly US$3.30 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$5.0m. Insiders have collectively bought US$11m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 21
Independent Director recently bought US$524k worth of stock On the 14th of January, Jack Schuler bought around 131k shares on-market at roughly US$4.00 per share. In the last 3 months, they made an even bigger purchase worth US$5.0m. Insiders have collectively bought US$10m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 16
Independent Director recently bought US$196k worth of stock On the 10th of January, Jack Schuler bought around 45k shares on-market at roughly US$4.34 per share. In the last 3 months, they made an even bigger purchase worth US$5.0m. Insiders have collectively bought US$9.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 07
Independent Director recently bought US$277k worth of stock On the 29th of December, Jack Schuler bought around 57k shares on-market at roughly US$4.85 per share. In the last 3 months, they made an even bigger purchase worth US$5.0m. Insiders have collectively bought US$9.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 24
Independent Director recently bought US$369k worth of stock On the 17th of December, Jack Schuler bought around 74k shares on-market at roughly US$4.98 per share. In the last 3 months, they made an even bigger purchase worth US$5.0m. Insiders have collectively bought US$9.3m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 30
Independent Director recently bought US$248k worth of stock On the 22nd of November, Jack Schuler bought around 49k shares on-market at roughly US$5.06 per share. In the last 3 months, they made an even bigger purchase worth US$1.0m. Insiders have collectively bought US$3.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 26
Independent Director recently bought US$606k worth of stock On the 18th of November, Jack Schuler bought around 116k shares on-market at roughly US$5.20 per share. In the last 3 months, they made an even bigger purchase worth US$1.0m. Insiders have collectively bought US$3.3m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 10
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.33 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$3.12m (down 13% from 3Q 2020). Net loss: US$8.99m (loss narrowed 52% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.33 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$3.12m (down 13% from 3Q 2020). Net loss: US$8.99m (loss narrowed 52% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 28
Independent Director recently bought US$150k worth of stock On the 23rd of September, Jack Schuler bought around 27k shares on-market at roughly US$5.50 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • Sep 24
Price target decreased to US$11.00 Down from US$12.00, the current price target is an average from 4 analysts. New target price is 102% above last closing price of US$5.44. Stock is down 53% over the past year. Reported Earnings • Aug 12
Second quarter 2021 earnings released: US$0.35 loss per share (vs US$0.35 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$2.80m (up 32% from 2Q 2020). Net loss: US$21.7m (loss widened 13% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$14.7m to US$13.2m. EPS estimate increased from -US$1.36 to -US$1.32 per share. Medical Equipment industry in the US expected to see average net income growth of 20% next year. Consensus price target of US$11.00 unchanged from last update. Share price fell 5.5% to US$7.05 over the past week. Recent Insider Transactions Derivative • Jun 25
CEO, President & Director exercised options and sold US$186k worth of stock On the 22nd of June, Jack Phillips exercised options to acquire 23k shares at no cost and sold these for an average price of US$7.94 per share. This trade did not impact their existing holding. For the year to December 2020, Jack's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Jack's direct individual holding has increased from 70.43k shares to 74.02k. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • May 16
Key Executive exercised options and sold US$56k worth of stock On the 13th of May, Steve Reichling exercised options to acquire 8k shares at no cost and sold these for an average price of US$6.76 per share. This trade did not impact their existing holding. Since December 2020, Steve has owned 15.58k shares directly. Company insiders have collectively bought US$4.9m more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • May 11
Price target decreased to US$11.00 Down from US$12.33, the current price target is an average from 5 analysts. New target price is 53% above last closing price of US$7.19. Stock is down 28% over the past year. Reported Earnings • May 09
First quarter 2021 earnings released: US$0.41 loss per share (vs US$0.39 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$2.52m (up 7.5% from 1Q 2020). Net loss: US$24.2m (loss widened 14% from 1Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 02
Analysts lower revenue estimates to US$16.5m The 2021 consensus revenue estimate decreased from US$22.5m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -US$1.24 to -US$1.30 for the same period. The Medical Equipment industry in the US is expected to see an average net income growth of 27% next year. The consensus price target of US$12.33 was unchanged from the last update. Share price is down by 12% to US$10.16 over the past week. Analyst Estimate Surprise Post Earnings • Feb 25
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.3%. Earnings per share (EPS) exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 47%, compared to a 20% growth forecast for the Medical Equipment industry in the US. Reported Earnings • Feb 25
Full year 2020 earnings released: US$1.40 loss per share (vs US$1.55 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$11.2m (up 20% from FY 2019). Net loss: US$78.2m (loss narrowed 7.2% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions Derivative • Jan 29
Key Executive exercised options and sold US$701k worth of stock On the 27th of January, Steve Reichling exercised 71k options at a strike price of around US$2.98 and sold these shares for an average price of US$12.90 per share. This trade did not impact their existing holding. Since March 2020, Steve has owned 13.30k shares directly. Company insiders have collectively bought US$17m more than they sold, via options and on-market transactions, in the last 12 months. Is New 90 Day High Low • Jan 26
New 90-day high: US$12.96 The company is up 30% from its price of US$9.95 on 27 October 2020. The American market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 9.0% over the same period. Price Target Changed • Jan 16
Price target lowered to US$12.33 Down from US$14.33, the current price target is an average from 5 analysts. The new target price is 34% above the current share price of US$9.23. As of last close, the stock is down 47% over the past year. Is New 90 Day High Low • Dec 10
New 90-day low: US$7.04 The company is down 33% from its price of US$10.44 on 10 September 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Price Target Changed • Dec 06
Price target lowered to US$14.33 Down from US$16.00, the current price target is an average from 5 analysts. The new target price is 90% above the current share price of US$7.53. As of last close, the stock is down 53% over the past year. Recent Insider Transactions Derivative • Nov 13
Key Executive exercised options and sold US$256k worth of stock On the 9th of November, Steve Reichling exercised 39.33k options at a strike price of around US$2.98 and sold these shares for an average price of US$9.50 per share. This trade did not impact their existing holding. Since March 2020, Steve has owned 13.30k shares directly. Company insiders have collectively bought US$18m more than they sold, via options and on-market transactions, in the last 12 months. Is New 90 Day High Low • Nov 10
New 90-day low: US$8.87 The company is down 40% from its price of US$14.68 on 12 August 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Nov 08
Revenue beats expectations Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 79%, compared to a 16% growth forecast for the Medical Equipment industry in the US. Reported Earnings • Nov 08
Third quarter 2020 earnings released: US$0.33 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$3.59m (up 58% from 3Q 2019). Net loss: US$18.8m (loss narrowed 8.2% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 22
New 90-day low: US$9.88 The company is down 37% from its price of US$15.60 on 24 July 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Sep 17
Accelerate Diagnostics, Inc. Announces New FDA Clearance for Accelerate PhenoTest® Improvements Accelerate Diagnostics, Inc. announced that the company has received U.S. Food and Drug Administration (FDA) clearance for a new suite of product enhancements to the Accelerate Pheno® system, which improve performance and expand the system's antimicrobial susceptibility testing (AST) menu for bloodstream infections. The new product release, formally classified as FDA 510(k) Clearance No. K192665, features improvements in susceptibility testing performance for four important antibiotics used to treat Pseudomonas aeruginosa, as well as the addition of the combination of P. aeruginosa and aztreonam, an empiric antibiotic, to the Accelerate PhenoTest BC kit testing panel.