NanoString Technologies Delivers 21% Revenue Growth in Q2
Shares of laboratory equipment manufacturer NanoString Technologies (NASDAQ: NSTG) have soared 121% since the beginning of the year. The main catalyst hasn't been improving financial performance, but rather anticipation for a new product launch: the GeoMx Digital Spatial Profiler (DSP). The new platform became commercially available in late March, which meant the second quarter of 2019 was the first full quarter to scoop up sales.
How did it go? NanoString Technologies counted 55 orders for the GeoMx DSP at the end of June, which are expected to start shipping in the third quarter of 2019. That's a strong start for the new platform. Meanwhile, the legacy nCounter Analysis system saw its installed base increase by 30 during the quarter -- giving it an average of 30 net additions each quarter for the last year.
The business didn't inch any closer to profitability during the first half of 2019, but investors are still hoping the GeoMx DSP platform can change that when it begins generating revenue in Q3. Here's what investors need to know.
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