GenMark Diagnostics Inc (GNMK) Q4 2019 Earnings Call Transcript

GenMark Diagnostics Inc (GNMK) Q4 2019 Earnings Call Transcript

Important factors which could cause actual results to differ materially from those in these forward looking statements are detailed in GenMark's filings with the SEC.. I'd now like to turn the conference call over to Scott Mendel, Interim President and CEO of GenMark.. Total 2019 revenue was $88 million, representing growth of 24% over 2018. ePlex revenue grew by 59% driven by an installed base of 527 analyzers as of year-end.. Gross margin for full year 2019 was 32.5% up from 27.5% in 2018, driven entirely by improvement in ePlex gross margins.. Demand for our Respiratory Pathogen Panel was in line with our expectations for a moderate flu season.. It is important to note that these analyzers had not begun the implementation process and they have never generated revenue.. Manufacturing yields have also been a key component in gross margin improvement contributing to both direct labor and direct material efficiencies.. We finished the quarter with gross margin of 33.5% and total year gross margin of 32.5%, which was at the top end of our increased guidance range.. Looking ahead into 2020, our three main priorities are: one, strong revenue growth; two, making significant steps toward cash flow positivity through continued