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AXDX Accelerate Diagnostics

Participants
Laura Pierson Investor Relations
Jack Phillips President and Chief Executive Officer
Steve Reichling Chief Financial Officer
Steven Mah Piper Sandler
Andrew Brackmann William Blair
Alex Nowak Craig-Hallum Capital
Call transcript
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Operator

Good day, and welcome to the Accelerate Diagnostics 2020 Second Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Laura Pierson. Please go ahead.

Laura Pierson

Securities is may share the Securities contain Section of it during information meaning Exchange begin, and XXA call XXXX this forward-looking the Act we of important of that to presented of Section XXXX. Before XXE of the Act statements within

company’s report that those are and are Form December Phillips. greater statements These cause reports statements SEC. made now in that could Forward-looking detail and during projections President discussed and other subject the historical my to not XXXX, this about for statements in we are include call ended and our year to CEO, is annual are with uncertainties risks, facts. the to It factors future conference results on materially. actual our Jack that All the our file forward-looking other XX-K pleasure XX, introduce differ

Jack Phillips

and earnings second call, our Good strategy. the Thank to mitigating product second the welcome business, Laura. discuss along results, finally quarter will XXXX quarter the we made and our impacts with describe the afternoon, pandemic you, financial in we’ve of new on today’s On review everyone, progress call. impact, our

convey the and Before I I are that second our teams wanted remaining discuss Accelerate to global quarter, safe productive.

a the you to existing growth of rebound in customers second hard prove April for to priorities. May, patterns live the Instruments a heartfelt base saw year-to-date. June. during continue quarter. $X.X In our we and safety of Utilization express ensure and While entire time. million, of we rates where quarter, to difficult After most in to ordering in our we’ve taken second this recorded the would work, the normal our during team advancement across durable including kit Pheno to service I cases of surge to and dip our Arizona, to continuity U.S., of actions run within revenue XX% contributing work thank our employees their like the live and enable business continue

predict cases quarters, industry overall difficult and Limited surges priorities are resiliency our our contracts that the it against COVID-XX and year-to-date. backdrop during recent the business the upcoming hospital the encouraged annuity of to by of whether diagnostic While current in we is and were book these down access impact an impact continue to will competing made areas is significantly go-lives, pandemic-related few additions quarter. of in new in

Despite activities sales seen and However, new their considerable and June a months, and work after July. progress development we strategy. disruptions, thrilled months our of that teams internal and today activity, R&D in our nearly over go-live of these limited in increases calls made no to we external these portfolio are have to past material as several have our part adding led several hard we’re announcement products new the has that product business

details Before to quarter, quarter over insights additional launches on operational would these it I and review providing like hand to exciting financial results. for the into further Steve second to results our our Steve? new

Steve Reichling

is or million the both XX% everyone. respectively, gross all the and same sales, XX% XXXX. Cost in million the The and $XXX,XXX to XX% $X.X number were and quarter live was period XXXX. unit XXXX. of for in from and increased of sold million compares the was This gross result reduction of margins the were $XX.X and same efficiencies Research compared cost $X.X was such This production of costs periods. to decrease year-to-date million compared from from afternoon, good spend. same and in a an year-to-date, million and somewhat result million sales study margins quarter sold the in second sales were lower costs and to represents customers. discretionary by offset reductions by in $X.X and spend quarter of quarter volumes. $X.X million year-over-year expenses $XX.X development goods in the $XX.X million higher resulted of of from $XX.X lower the per goods in and XX%, gross million on compares $XX.X period Jack, XXXX. Net This marketing-related consumable the growth. travel. second million in resulting fixed year-to-date in second were and you, capacity. of from the administrative $X.X increase $X.X and same growth result year-to-date year-to-date. This in and of external decline $X.X derived as million period and million expenses $XX.X the Thank $X.X manufacturing million second year-to-date This $X.X under-absorbed Nearly year-over-year Selling, driven from revenue for margins million period in general to This and of higher million

a natural commercial capital rate. pandemic areas quarter, targeted conserve end like million. original quarter greater second the million $X.X quarter the reduction was cost in in combination stock-based million hand of in and share $XX.X the year-to-date, working to and loss quarter amount included Net we impacting implementing to began cash favorably the quarter. was impact to priorities. net impact second with the reductions a innovation In second course cash the Jack as believe per cash of $XX expectations and now first for set cash to net for plan our the resulting company results have we losses burn detail. the back year-to-date quarter and compensation of Jack? In $X.X cash $X.XX it compared respectively. the further we The effects financial will to this initiatives, of the million losses million our ended and respectively. Our first used $XX.X million, year million. expense and had key $X.XX, review spend $X.X Net and net of weather plan burn in to for a quarter, $XX.X positive our a the noncash I of considerable without Through on investments of

Jack Phillips

Thanks, Steve. U.S. we’ll new on testing reviewing our updates followed serology strategy, our on lastly, an by our international product will COVID-XX review by update opportunity. I commercial business. including begin And results,

first increase of to activity sales reopened, We resources June, onboarding commercial results. halted testing. March, through U.S. as Turning This our across added labs persisted call contract COVID as territories. had sales access which new was instruments shifted quarter. to result in In we meaningful U.S. a May, one in being the during saw six the hospitals for slowness hospital most

customers prospective sizable. of remains funnel Our

live our brought We approximately June, nearly indicate and conversations the on decision-makers one progressing contracts will including However, in call. are in new detail are platform anticipate of customer customers were go-lives many hold. COVID XXX the instruments that and again four instruments. serology ended In the the delays dynamic, new discuss we impending hospital later these This approval during this further all We and through March, and now progressing. our in XX% to and improve active likely this site the our launch strategy, with dynamic that with in will put of product of persist quarter revenue-generating quarter our improved year. and

their we weeks, with process. ongoing pending care from light sought sites of of implementation impacts to several the the intent all by Over past the confirmation pandemic related in proceed institutions, faced health

of the remove to course consisting Accordingly, sites of conclusion we reaffirmed in our one are customer we will including yet Therefore, staffing revenue, near of that across During the have proceeding XXX go-lives backlog of delays XX implemented term. not figures. there all future will to customer resume. implementations both, due that contracted budget, time have sites came lines XX as pandemic-related there either elected their foreseeable the no or to conversations, commitment which five generating disruptions IHN in multisite be is now have and when These are these to to the all with sites resume process being to instruments from the not implementations and at the in these instruments. we instruments

annually benefits. This into ID/AST conditions is an of on again our increasingly site length-of-stay important With that through Rochester live an activity longest-running closures ICU recently which picked bed live third is the has One ICU during of highlights launched Hospital, regional our mind, saves Pheno. how hospital to whether over This proven one educate clear the hospital go-live in New a recent early went hospitals improved reductions, action. to rapid greater strategy estimates Pheno improving campaign unclear the states length-of-stay York is implementation. number five go stages General process in we capacity in remains which after progress, anchor this XXX and and days its resulting influencer outcomes these such and in of of likely of at implementation demonstrated ICU reach Managing delivers recently efficient it health more customers, final it up, will which as in a care permitted quarter. our limits. bed professionals bed pandemic translates instruments are and example While shortages has area good a Pheno’s we to anticipate slow QX campaign more utilization. the issue the

guidelines within year. ongoing AST we along Lastly, the initiatives, conclude we rapid with include previous calls, the have discussed still reimbursement our to expect CLSI on decision and to

now Moving business. our to international

to a state of experience after first pandemic-related being returning Our to normalcy EMEA is disruptions. team the

recent quarter, improve additional go-lives Therefore, from unclear period. business However, term. how in commercial our limited On contributions EMEA through access near the minimal the the continent to to the openings It trajectory the two expect in will to in China. contract no in in continue resulting through EMEA. the signings hospitals we remain instrument remains second

past, government the health sepsis a care market is As we and large discussed that a a significant challenge, investment. population a in is promising focused China with on

trial. XX staff Pheno and facility trained We the testing, first Instruments installed type the have of phase to clinical test now government initiate Beijing our at

which to we type phase trial, Following testing, begin anticipated live is XXXX. the proceed testing of early in clinical to can our

product XXXX which to continued This to launches goals beginning the X.X through emphasis in is Now innovation Pheno and offering. program. set our of forth on to increase an expected turn enhanced year, expansion let’s strategy new of product product strategy, represents new includes adoption addition expanded our at an this the we

change The patients significant and some The through walk the need infections high. is five this to pace I help market to antibiotic in provide rapid as of why Then sizable, is new product and universal to opportunity remains optimize ID/AST irrefutable. want I believe we’ll this serious utilization adoption. improve First, prongs interest for with will strategy to strategy. context to

The choices. they implemented Flexibility covers As providing of have needs complex they and their on more concern Pheno feedback infections. prevalent blood for majority is gram-positive menu been evaluated ongoing ID/AST ID and customers essential, with gram-negative of organisms our and with have want stream solution. heterogeneous rapid system, us and both optimized the

solution However, identification given an result, for existing solutions integrated customer duplicative. can be our delivering

an example, benefits if Rapid results investment are AST. a MALDI clinical cheaply, expansive made For expensive to eager customer in while outcomes through identification improving to retain these they deliver

found clinical of the ID interest to workflows, giving Pheno universal. option, current customers with be have our the rate an integrates We we in by And of adoption. benefits which AST AST-only improve will

So a today, investment. accounting suite solutions, customer new one are workflow for products, preference of every and for announcing four prior every we

integrated First, provide fully the we ID/AST will Pheno rapid system. continue on test our to

in benefits. workflow integrated published these the peer-reviewed second we saw and are enjoy customers current Our benefits. In customer seeing the journals demonstrating three significant quarter, solution from studies advantages

For real Center answers two the duration tested length that Peninsula Pheno it on results, example, of and today. cut experiencing one both has are of spectrum for hospital in are the that of the by therapy broad days patients life-saving Medical system. These Regional showed stay customers studies,

who complete continue to We will customers solution. those kit seek to market ID/AST rapid this a

Pheno which manually, customers Second, Pheno existing the existing results. and or a system’s kit with AST, platforms AST-only identification experience an from benefits ID cost an the test appropriate and kit, rapid an lower of will enables result we rapid the price delivers lower panel antibiotic launching system, AST of version result. AST loads to be electronically accepts, This

program, PhenoPrep, front the steps development automates was across PhenoPrep Third, automation believe initially types. have we for required and multiple new applications are workflows. instrument a respiratory which will called we out launching borne sample workflow of certain many end ID our

this when staff to to believe for fifth the like the addition From this according early Recent program product comprehensive errors manual and to new cost first XXXX customers current lower In menu. $X few our launched early application on we to during of will MALDI and blood coupled throughput of considerably eliminate physicians. in market, collecting incubation we Ascend with difficult a This workflow to with will blade advancing here, automation to solutions our anchor in it a power commercialize are workflow an our and that bringing broader with existing rapid ID MALDI to is also lab Pheno Pheno will for from has culture deliver those prior by MALDI system. inherent This quarter and positive razor accelerate investment prepares one perform pandemic obtain multiple the higher trial types volume, urine. solution platform. that XX-hour our And automated workflow create prior aspirating have clinical samples due in from entered the together solution we Accordingly, leverages but The agreement Pheno collaboration an first additional as yet. the reduces Diagnostics allow enabling AST all be maximum through program. X.X. into development cultures ensure into development supply a of activities. current rapid positive step blood PhenoPrep instrument product the scope have solution The samples modi higher not culture promising utility pause a prong samples suggests we This have patients This continue Pheno new us respiratory PhenoPrep respiratory of will pulmonologists across bench-top MALDI an adoption. been exclusive our of results. strategy, PhenoPrep, device, of We walkaway see and our across customers who launch research sample effort a prefer strategy have risk This to expand frees sample lower environment, a high-value purchased identification. opportunity positive and and market billion will to expand virus positive XX is Fourth, in to plan, would a an product the ID/AST for entirely AST other for MALDI-TOF The to broadened to merges a steps serving benefits is these MALDI, of adoption the device the results for system for types. to blood commercial in blood AST, customer’s culture. very acuity marketplace. decided rapid AST isolates and ID focus and results. offerings this

immunoassay our the on chemiluminescence commercialize fully and to update for an collaboration IgG Lastly, the MS-FAST of test automated IgM. detection SARS-CoV-X analyzer and

final FDA’s to related our for on this COVID questions and have We submitted use emergency device the assays. responses authorization

and complex been has review lengthy. Our

MS-FAST approvals had for the COVID are instruments, of all serology EUA on and While new COVID tests have we current tests existing to obtain for approved both the tests instrument.

near We future the expect very FDA from to in on decision. hear the their

role play in are direct a to continue this this excited to fighting collaboration We and agreement be about eager pandemic.

accelerating all we but new weather simultaneously disruption COVID our reduce patients. of lead us to opportunities subsequent products. this with pandemic us closing, extend exasperated are the of synergistic for profound, highlight infection the that business In one to new additional not antimicrobial enduring infections while pipeline deliver products. to mission evaluating our is risk answers also to of solve, problem resistance for the our calls infections. in spend to the overprescription portfolio studies are rapidly an of with antibiotics and to rise our statement to are wave likely only secondary the serious on patients, We has progress disruption current are help Recent life-saving but patients The like pleased

and new as R&D are to business providing on future humming ways as our bullish internal months engines mission our and engage prospective development for my customers. are is opportunity Six teams remain I and into sales job, Our ever, for our crystallizing. the

patients serious in and around As in our AST, of our infections rapid to fighting customers grounded patients. an we for responsibility extraordinary to industry the leader play role a critical sense the globe, in

customer follow-up standard these care request answer a questions change to would deliver what driven to that’s transformative for rapid mission is Should market to happy segments call all counting, disease and to our demonstrated deployment the enables be forward microbiology. of now you meeting by us more in have addressed, our any would major to redefine product step a way from AST treated. are representing Thank And of in as not the questions XXX strategy today. studies send We you. to our analysts. on doing efficiently to The the we’re exactly investors@axdx.com. welcome I we infectious or questions others

Operator

Mah [Operator ahead. Steven Instructions] Please of from First go question Piper Sandler. comes

Steven Mah

And back, operator. give taking your instrument? Can the us assumptions a coming per what question, it a to sounds consumable the just seems for get consumables be of thanks of want of guys. I kind pull-through like for but to pull-through you are. Thanks, go-forward It sense kind sense

Jack Phillips

sure, the instrument on here, follow growth U.S. holding no, pull-through Jack very we’re the over per seeing consumable up consumable well. is compared this date. strong. last let mean, Phillips the and to we’re revenue Steve in our is I’ll quite The U.S., And revenue year. as the question. that with thanks to Yes, Steven. for But year-on-year XX% in I pleased

like June was our record on existing – the of months think best while the of month a had best And customers, base to May, in one of so April I relative we a volume. bit was actually Pheno we a saw it and dip dip,

on patterns actually saw. in we We that that was one those customers for par with ordering also the with were effect stocking confirm, this not of of that actually kind any customers, each through checking the those actually volumes

customer for, our one we’re thankful thing holds existing strong. again, very is base So the very,

that Pheno. at levels those been same roughly anything continue to customers, $XX,XXX speaking they at, per did order service add? annualized to an continue Steve, We you revenue of have the which is we’ve and about to

Steve Reichling

it Jack. No, covered all, you

that’s good. think I

Steven Mah

Great. Could And low you comment know reallocation had had strategy pull-through in of sites. instruments on I pull-through to a controllable Okay. last to EMEA you redeploy that? quarter, that kind guys high

Steve Reichling

Yes. like We we’re annuity rooted of doing – that things minimal clinical some lot emphasis that and the of story resistance is redistributions work and QX in returns the where Italy U.S. places certainly, then to Spain, the did that are telling And a seen in increasing in on handful A was effect have focus fundamental We geography. quite in in to of a few and in that we’ve some and QX. high. in the doing more EMEA the rates

Steven Mah

the Okay. to of as go Great. the return eventually backlog And we you should the think that these normal? XX instruments back of them gone? pulled staffing out backlog, then and Or on will budgets guys into of

Steve Reichling

Yes. thanks mean, I for the again, question.

furloughs being this only to the time." let’s on Pheno. executive customers, about to moving we So cases, time related is, very to they we about there’s to that were saying, instruments. and strictly free just live yes. – forward for "Hey, else reasons, these – go have said institutions. not COVID the are our very, definitively overworked those XX-plus answer and challenges But multiple to any were in accounts with laboratories in nothing now. implement discussions, all revisiting anything, leadership run COVID five with in eventual specific And customers, with in at having for gamut, these open-minded strictly And these not they much mean, these discussing I and focus mentioned, from various These all they’re again, challenges again, implementation processes

Steven Mah

one me color. just question. you Okay. indulge yes, can That’s helpful And if with last

allowing sub Or pursuing – you mentioned the to EUA? that guys FDA the pursue On Is just I had you last you you get XXX(k)? BioCheck do to time is think a XXX(k). that were system,

Jack Phillips

No. Yes.

an pursuing of FDA It now. do. question like all EUA, has We couple currently from acknowledged to XX we and responded, data. I that. provided We’re to study that’s the final past the over days had pursue nicely. that’s very study submitted proceeding the simple hours, a over was and would the that simple. And we need right the FDA. We’ve say We’ve Very that past had

EUA changes, will that the we XXX(k) So future we’ve will by forward, we’re FDA, just evolve in come an just do that F the And an the confident in very XXX(k) a have on FDA eventually. come dialogue as industry, to moving and as approval, the as our approval given We serology then testing clear. be sites way, had.

Steven Mah

Yes, yes.

No, fantastic Okay. to don’t need that that’s you do that.

it. appreciate questions. Thanks all Okay. Great. And the taking I for

Operator

The Weinstein from next go Brian question ahead. of Blair. William Please comes

Andrew Brackmann

taking of of on start to This the for questions here color of sizes that four these us but is viewing you that. are market the on enhancements all Thanks and customer new types? those four give each the different talked targeting, different for could on how Andrew color on types different today. customer Jack, across enhancements. you’re some the you the about Maybe sort

Jack Phillips

sure. Yes,

I’ll with to we we which about. first, couldn’t came So how again, be refresh strategy start the out, the laid we that of more decision excited

our something customers. Our has both but listening started fantastic, our reps customer field the actually our customers, been taking tremendous feedback a of amount actually sales to to been feedback from We’ve in by from we for here put since in before QX. We’ve to many KOLs, on And working KOL. I’ve very this – is we’ve together got been been COVID and and we’ve got where had feedback. seminars

for high AST. volume to a And segment, they’ve they’re ID a Andrew, have of that they residents a in a what academic AST. prefer they’re organisms. AST where really, so that, opportunity Pheno has strategy upwards identification running and adopted every ID, we to is Typically, with addresses large, identification. the segments, menu the been, rapid you a X,XXX is an and menu platform a challenge, that, And MALDI-type a different higher your ID is have universal. switch like every And where are customers, customers we different we large And over challenges, where are this center. the question, And strategy now will, need with do The customers frankly, to then – rapid if have customer are those pushback volume. larger, with

the best. Pheno the stand-alone been for is the segment that AST. AST really really across the out has then only for the board AST centers, ID both so fits then as And and where strong a ID And proven And community Rapid Pheno the consistently last mid-tier tool hospitals, I be again, area segment with own that, in integrated where partnership they would MALDI our our solution. with Ascend then is that customers just PhenoPrep AST seeking you’ll PhenoPrep the what an mentioned then a and are and MALDI want solution, Pheno this with new is And provide.

Andrew Brackmann

Got it.

helpful. That’s Okay.

right, I barriers guess those hearing I’m all So institutions. down on if you of across knocks adoptions this different sort

maybe guess, I the be for might but your bit how might to with provide anything for you early So a here? change expectations revenue it this this question, respect ramp can

Jack Phillips

Yes.

barrier it we I again, with your choices – again, so the But biggest early. the launching we’ve been back we’ve point, take And COVID. Pheno we’ve customers’ say, this is that why And since the strategy. will the addressed guidance, point that, about about biggest barrier paused having So universally. due has ID Andrew, into that’s and we’re to this around that can and barriers, excited so to is obviously, to first date on the feedback at down run

has feedback mentioned, this to, already company. team More relative about direction in Again, Again, the right the our opportunity where come going have, the is that access what sales limited as selling how as marketing out do been got very to does the of positive now, revenue far very, we’ve we’re but this. – on the I’ve change this access As we that. trajectory? and the

Andrew Brackmann

Got it.

Okay. infections of Or on there And patients. discussing are there’s thinking then out you evidence I have helping sort sort Obviously, COVID. if those which ability the How secondary about? to there news infections? could, for sort identifying out Pheno’s one you a of maybe of been lot any secondary more, supports of seen COVID

Jack Phillips

Andrew. Thanks, Yes.

yes, the with those the activity with obviously, COVID been of activity they see now in about the Pheno. Pheno, getting customer Pheno around a couple So and we’ve we The live environment. would has our backlog And had a of first things that I – that’s is optimizing getting value actively COVID go-lives – across do the again, XX% and board a And that. so with have utilization is go-live mention feedback beds. roughly to ICU thing bed out proven in since valuable

And is as mortality have far that that. this COVID many many, that’s the We the And they And publications with that acquire. would infections, as for biggest to secondary clearly, COVID the challenge many with say I then patients infections speak of secondary regard to are start. are many, to come into viral, that’s on learn of more some as and do about there does are play. Pheno bloodstream-type as those infections all them infections, of where actually lot to and come More a but that more forward. management have we moving well, learn we

Andrew Brackmann

Okay. Thanks, guys.

Operator

The next question comes ahead. go from Alex Nowak of Please Craig-Hallum Capital.

Alex Nowak

everyone. afternoon, good Great,

of the be was AST Pheno the And BioFire good Or that test, is the couple MALDI? the you run? long for it mentioned just A call, connected to a to of economics how a here. can system? but molecular lot new on takes stuff that products questions Just expand someone just or to could follow-up

Jack Phillips

question. the for Thanks Alex. Thanks, Great. Yes.

So couple things. a of

of – time. mentioned term turnaround the you all, First

time reminder, be So the so, again, or standard the about will which, approximately is Pheno care, hours days. turnaround can AST, as of of X be about X upwards a –

you obviously, with? flexible. that’s answer And changer. is is, as what the is your And – then second systems the So it’s completely this will that question game – interface

through currently, HLX middleware it be we device. electronically Eventually, an type entry. a interfacing manual may be will So

test Pheno X results of if rapid the input over MALDI, when and GenMark, be hours. Is AST yes. be able that’s approximately to type there, again, run take with will will in, is answer that into any the BioFire, ID So From ID the the then and produce Pheno.

Alex Nowak

cost test? it. Got doesn’t blood require the culture of to confirm, requires bottle then the and just it just just the Okay. subculture, it a And

Jack Phillips

Correct. Yes.

or So prep cost, the our change less the then ID current than as offering. offering answer no as be of anything far like current in that. – AST And is, yes, there’s our the it will

Alex Nowak

works from system sample labs out And just then into Okay. of the how the all the terms Got using the when us help you that result what AST workflow just expand for purposes coming can it. a PhenoPrep – Pheno? in maybe on again

Jack Phillips

Yes.

quite So for program. for developed a case, to just we respiratory conjunction And for platform, sample that is and developed in it, specifically in due well. haven’t this preps it And use it’s was it as we’ve deployed and, a with extremely ID respiratory. quite effective a MALDI to actually ID. is blood relates as known our Modi while, a known PhenoPrep the for then this culture prep where originally sample, device used as we’ve while, as But – for we where

workflow And many workflow and that’s tech-heavy. why sample ID lot the hands MALDI is required that a It’s so, U.S. as but and across preparation rapid – do long. the have hands because many not for MALDI, that it’s use on a customers it’s of today, time,

that happened universally Again, have we’ll pull-through not lot and a will then instrument talked we will does be what us – clear idea. modest a customers, automates as it of a it And another a in lot The of this be a stream instrument. from about for because again, customers It’s as feedback so capital, to we’re that. PhenoPrep that will this a a And an solution well. modest Xx revenue – cost from of the is and per-test standpoint, well. It the workflow. reagent workflow of about improvement solution love is sale we’ve

real So excited to about this launched getting we’re market. product

Alex Nowak

the but been quicker great. access? then more on on the will the Pheno? question question was it on be then to system when not just products, have – And fully sitting out this another the just new early then that’s encourage a available, just one products do and before? new No, something products does separate, labs change all timing than within new that the maybe them bring at up Just go-live And

Jack Phillips

Yes.

timing So we PhenoPrep XXXX. – launch QX launch on expect of launch, the to in

XX now We have, oh, gosh, we’ve already. built systems

respiratory something time I started been program for, really we’ve too, This development as it’s been just this off And something And in not long the is and key so like, quite has. point last mentioned, as our we’re week. is, there, some running. we developing as is

very AST So go getting to only, the for And ready only, and we’re then AST Pheno same. close there.

now, that QX was on... to product as last marketing your last slipped well. will then but actually And be now, kit point, the I your in expect we and actual available talking question We’re customers just

Alex Nowak

go-lives? Any impact on

Jack Phillips

the contract Boston But yes. the asked want go-lives, thank going – just Oh, sites I our are have go-live of program. the to kind again, about that specifically kicked live would I But about get in It is impact on many phenomenally well. thing past due And weeks our now impact of do back and that went a a chance, are COVID. well, QX go-lives, lot is no stalled I program say over started granted of go-lives. you. so on Oh, implemented doesn’t sites take this tufts really extremely going to January. just in active, in on I’ve in couple right Examples QX off the an

today. that’s And so we’re even happened, COVID and still live with everything

General, in Rochester In about went months live same the X there. last week. way. live We just went they So

So that I’m seeing that our the we’re with go-live implemented. we’ve really pleased process out results new of

Alex Nowak

keep the bring you to to drop point, yes, to live, hospitals they that date date said, want a bringing or committed I And just it when back and end made a sure the were we’re going and hospitals to committing that you? with live, went up they a to to Pheno, on did Pheno

Jack Phillips

Yes.

So that are some have. are ones the we’re of ones those working. And them are active, that those the and

but about it was you XX% we’re then, before doing So grown base it’s active. like Meaning something. since is said our about to said now I really, of really – XX%,

have the because they just where going No, sites in commit they When line that on with a mostly, know. working did those not projects? sites. don’t said, them? still contact we process. So workload When but time Pheno, can for not We’re now. are is just on for live only take we COVID the just new lessen to with going to those to remain hey, go Ones them is

Alex Nowak

Perfect. Got Okay. it.

appreciate update. you. Thank your will We

Operator

the Accelerate concludes for This today’s earnings and presentation. both call. attending the Thank question-and-answer Diagnostics session you

disconnect. now may You