Accelerate Diagnostics (AXDX) Reports Q2 Loss, Misses Revenue Estimates

Core Insights - Accelerate Diagnostics reported a quarterly loss of $0.50 per share, which was better than the Zacks Consensus Estimate of a loss of $0.55, and a significant improvement from a loss of $2.36 per share a year ago, indicating a 78.8% year-over-year improvement [1] - The company posted revenues of $2.99 million for the quarter, slightly missing the Zacks Consensus Estimate by 0.47%, but showing a year-over-year increase from $2.92 million [1] - The stock has underperformed significantly, losing about 65.6% since the beginning of the year, while the S&P 500 has gained 9% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.49 on revenues of $3 million, and for the current fiscal year, it is -$2.37 on revenues of $12.3 million [4] - The estimate revisions trend for Accelerate Diagnostics is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Medical - Instruments industry, to which Accelerate Diagnostics belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, Neuronetics, is expected to report a quarterly loss of $0.27 per share, reflecting a year-over-year change of -58.8%, with revenues projected at $18.76 million, up 6.5% from the previous year [5][6]