"In 2019, we delivered another year of extraordinary growth, both in the U.S. and internationally. Upon registering, each participant will be provided with call details and a registrant ID. “Invitae is a leader in medical genetic testing and has driven innovation in this area for more than a decade. © Invitae Corporation. Invitae Corporation (NYSE: NVTA) is a leading medical genetics company whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people. http://www.directeventreg.com/registration/event/7916067, http://www.prnewswire.com/news-releases/invitae-reports-68-7-million-in-revenue-driven-by-170-000-samples-accessioned-in-the-third-quarter-of-2020--301167447.html, Accessioned approximately 170,000 samples in the third quarter of 2020 compared to 129,000 samples in the third quarter of 2019. Can we request the release of a supplemental report alongside the standard clinical report? The live webcast of the call and slide deck may be accessed by visiting the investors section of the company's website at ir.invitae.com. Operating expense for the fourth quarter of 2019 was $108.6 million. Invitae's goal is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices. Zacks Equity Research October 29, 2020 NVTA Quick Quote NVTA. As we continue to scale our business, we are confident our approach and the investments we are making will further strengthen our ability to bring affordable, accessible genetic information to billions of people worldwide. Total operating expense, excluding cost of revenue, for the third quarter of 2020 was $102.9 million. 2019, Prepaid expenses and other current assets, Operating lease obligations, net of current portion, Finance lease obligations, net of current portion, Accumulated other comprehensive income (loss), Total liabilities and stockholders' equity. Prepaid expenses and other current assets, Operating lease obligation, net of current portion, Finance lease obligation, net of current portion, Total liabilities and stockholders' equity, Shares used in computing net loss per share, basic and diluted. Partnered with Pfizer to offer the BRCA Care genetic testing program, which provides sponsored, no-charge germline BRCA testing for patients diagnosed with HER2-negative locally advanced or metastatic breast cancer in different countries, beginning in Hong Kong, Oman, Qatar, Saudi Arabia, Taiwan and United Arab Emirates. Securely message Invitae staff … Could you please tell me more about the possible next steps? Acquired three companies that are intended to further enhance Invitae's clinical variant interpretation capabilities, meaningfully reduce the cost of testing and provide superior customer workflows and patient support. Established plans to increase international presence with local laboratory and/or fulfillment infrastructure in five countries. Presented and published clinical research demonstrating the frequency of actionable genetic variants in large patient populations and supporting the expansion of guidelines for patients with ovarian, breast, pancreatic, prostate and colorectal cancer. Because of these limitations, the company's non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Safe Harbor StatementThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's belief regarding the value and leverage of its global, diversified business; the company's belief regarding the impact of its unique combination of comprehensive menu, durable customer relationships and ability to execute; the importance of the company's recent studies and collaborations; the company's belief regarding the momentum of its business and ability to continue to deliver on its mission to bring genetic information into mainstream medicine; the impact of the company's acquisitions, including its completed merger with ArcherDX, as well as its internal development efforts, partnerships and product offerings; and the company's beliefs regarding its ability to access new and developing markets, improve ease-of-use for customers, and meet the needs of patients and clinicians. Genetics is … Launched Invitae's direct channel to make it easier for consumers to receive the same high-quality, affordable medical genetic testing from Invitae that experts use and trust. Management accounts for this limitation by analyzing results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in the company's public disclosures. If this happens, you will be notified and can choose to release the amended results to your patient. September 30. Non-GAAP average cost per sample was $247 in the third quarter of 2020, Achieved gross profit of $22.1 million in the third quarter of 2020 compared to $24.4 million of gross profit in the third quarter of 2019. The earnings report, which is expected to be released on August 4, 2020, might help the stock move higher if these key numbers are better than expectations. Invitae will occasionally release amended reports when, for example, new clinical studies cause the interpretation of your patient’s variant to change (e.g., from VUS to pathogenic). Changes in operating assets and liabilities, net of businesses acquired: Proceeds from sales of marketable securities, Proceeds from maturities of marketable securities, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from public offerings of common stock, net of issuance costs, Proceeds from issuance of common stock, net, Proceeds from issuance of convertible senior notes, net, Net cash provided by financing activities, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of period, Cash, cash equivalents and restricted cash at end of period, Reconciliation of GAAP to Non-GAAP Cost of Revenue, Amortization of acquired intangible assets, Reconciliation of GAAP to Non-GAAP Research and Development Expense, Acquisition-related stock-based compensation, Reconciliation of GAAP to Non-GAAP Selling and Marketing Expense, Reconciliation of GAAP to Non-GAAP General and Administrative Expense, Acquisition-related post-combination expense, Reconciliation of Operating Expense to Non-GAAP Operating Expense, Reconciliation of Net Loss to Non-GAAP Net Loss Per Share, Non-GAAP net loss per share, basic and diluted, Reconciliation of Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash to Cash Burn, Proceeds from public offering of common stock, net of issuance costs. Published significant studies underscoring the use of both germline and somatic sequencing in oncology: A multi-year collaboration with researchers at Mayo Clinic published in. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 5. For the full year 2019, net loss was $242.0 million, or a $2.66 net loss per share compared to a net loss of $129.4 million, or a $1.94 net loss per share, for the full year 2018. Management accounts for this limitation by providing information about the company's operating, investing and financing activities in the statements of cash flows in the consolidated financial statements in the company's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and by presenting net cash provided by (used in) operating, investing and financing activities as well as the net increase or decrease in cash, cash equivalents and restricted cash in its reconciliation of cash burn. Can Invitae provide results reports in languages other than English? Order on behalf of clinicians in your organization. Non-GAAP Financial MeasuresTo supplement Invitae's consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States (GAAP), the company is providing several non-GAAP measures, including non-GAAP gross profit, non-GAAP cost of revenue, non-GAAP operating expense, including non-GAAP research and development, non-GAAP selling and marketing, non-GAAP general and administrative and non-GAAP other income (expense), net, as well as non-GAAP net loss and non-GAAP net loss per share and non-GAAP cash burn. Three Months Ended These non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Invitae Corporation (NYSE: NVTA) is a leading medical genetics company, whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people. What does an Invitae clinical report include? Management accounts for this limitation by providing information about the company's operating, investing and financing activities in the statements of cash flows in the consolidated financial statements in the company's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and by presenting net cash provided by (used in) operating, investing and financing activities as well as the net increase or decrease in cash, cash equivalents and restricted cash in its reconciliation of cash burn. How do I display alternate banner for VUS-only diagnostic reports? To supplement Invitae's consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States (GAAP), the company is providing several non-GAAP measures, including non-GAAP cost of revenue, non-GAAP operating expense, including non-GAAP research and development, non-GAAP selling and marketing and non-GAAP general and administrative, as well as non-GAAP net loss and net loss per share and non-GAAP cash burn. Will I know if my patient has registered for an online account? Can I set up default sharing settings for all of my orders? What does an Invitae clinical report include? Non-GAAP net loss was $81.7 million, or $0.62 non-GAAP net loss per share, in the third quarter of 2020. Nine Months Ended Net increase in cash, cash equivalents and restricted cash was $39.4 million in 2019 and $315.6 million for the fourth quarter. "In 2019, we delivered another year of extraordinary growth, both in the U.S. and internationally. Cash burn was $64.9 million for the quarter. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly-titled measures presented by other companies. September 30, Shares used in computing net loss per share, basic and diluted. My patient has a positive result in TP53 and it says that they may qualify for the TP53 variant program. Find the latest Earnings Report Date for Invitae Corporation Common Stock (NVTA) at Nasdaq.com. Partnered with the University of Vermont Health Network on a population health testing program to offer proactive genetic screening as part of routine clinical care for patients in Vermont. Completed the transaction to bring ArcherDX, a leading genomics analysis company, into Invitae to create a global leader in comprehensive cancer genetics and precision oncology, bringing germline and somatic testing, liquid biopsy and tissue genomic profiling onto a single platform. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements. Can I share an order with colleagues? Five Invitae Detect programs were launched in 2019, creating multi-partner programs that increase access to genetic testing in therapeutic areas where it is under-utilized. Actual results may differ. In addition, other companies, including companies in the same industry, may not use non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling and marketing, non-GAAP general and administrative expense, non-GAAP operating expense, non-GAAP net loss and net loss per share, or cash burn or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-GAAP measures as comparative measures. Because of these limitations, the company's non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Net decrease in cash, cash equivalents and restricted cash for the quarter was $61.4 million. Invitae Corporation (NYSE: NVTA), a leading medical genetics company, today announced financial and operating results for the third quarter ended September 30, 2020. Investors are encouraged to review the non-GAAP reconciliations provided in the tables below. Announced in-network status with Cigna. Following prepared remarks, management will respond to questions from investors and analysts, subject to time limitations. At September 30, 2020, cash, cash equivalents, restricted cash and marketable securities totaled $368.0 million. San Francisco, CA, 94103 Changes in operating assets and liabilities, net of businesses acquired: Proceeds from sales of marketable securities, Proceeds from maturities of marketable securities, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from public offerings of common stock, net, Proceeds from issuance of common stock, net, Proceeds from issuance of convertible senior notes, net, Net cash provided by financing activities, Net increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of period, Cash, cash equivalents and restricted cash at end of period, Reconciliation of GAAP to Non-GAAP Cost of Revenue, Amortization of acquired intangible assets, Reconciliation of GAAP to Non-GAAP Gross Profit, Amortization of acquired intangible assets - cost of revenue, Reconciliation of GAAP to Non-GAAP Research and Development Expense, Acquisition-related stock-based compensation, Acquisition-related post-combination expense, Reconciliation of GAAP to Non-GAAP Selling and Marketing Expense, Reconciliation of GAAP to Non-GAAP General and Administrative Expense, Fair value adjustments to acquisition-related liabilities, Reconciliation of Operating Expense to Non-GAAP Operating Expense, Reconciliation of Other Income (Expense), Net to Non-GAAP Other Income (Expense), Net, Reconciliation of Net Loss to Non-GAAP Net Loss Per Share, Non-GAAP net loss per share, basic and diluted, Reconciliation of Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash to Cash Burn, Net increase (decrease) in cash, cash equivalents and restricted cash, Proceeds from public offering of common stock, net of issuance costs. These risks and uncertainties include, but are not limited to: the actual results for the quarter and year ended December 31, 2019; the company's ability to continue to grow its business, including internationally; the company's history of losses; the company's ability to compete; the company's failure to manage growth effectively; the company's need to scale its infrastructure in advance of demand for its tests and to increase demand for its tests; the risk that the company may not obtain or maintain sufficient levels of reimbursement for its tests; the company's failure to successfully integrate or fully realize the anticipated benefits of acquired businesses; the company's ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to the company's business; and the other risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. Invitae is scaling up, but that also means higher R&D and SG&A expenses. Invitae accessioned approximately 170,000 samples in the third quarter of 2020 compared to 129,000 samples in the third quarter of 2019. San Francisco, CA, 94103 Launched Invitae Discover, a clinical research platform that leverages biometric data available through Apple Watch to provide better understanding of the genetic causes of disease, with the first study in cardiovascular disease. In addition, other companies, including companies in the same industry, may not use the same non-GAAP measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-GAAP measures as comparative measures. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Invitae's goal is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices. Can Invitae provide results reports in languages other than English? Management believes cash burn is a liquidity measure that provides useful information to management and investors about the amount of cash consumed by the operations of the business. Began enrollment in a nationwide study to better understand the role of current genetic testing guidelines in ensuring prostate cancer patients receive testing to identify clinically relevant genetic variants that can inform prognosis and support access to targeted therapies. According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 30.0% and a 57.3% success rate. 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