Invitae recorded Stockholder’s Equity Ratio less than 8% in 2022 Q3

Invitae (NYSE: NVTA) announced 2022 Q3 financial results on November 8, 2022. According to the announcement, total revenue was up 16.7% (3 months, YoY). In addition, Invitae recorded operating loss and net loss of 289,951 thousand USD and 198,176 thousand USD, respectively (3 months). Moreover, gross margin was 12.4% (3 months). It was down 1088bp year-over-year. Non-GAAP based gross margin was reported as 45.9%.

Net cash used in operating activities was 410,936 thousand USD, up 7.0% (9 months, YoY). In addition, Invitae continuously recorded negative free cash flow. The amount of its outflow was 707,628 thousand USD, down 6.7%.

Image of cell culture using microplate.
Photo by CDC on Unsplash

As of the end of September Invitae’s shareholder’s equity ratio was 7.8%.

The balance of cash and cash equivalent as well as marketable securities is 585,965 thousands USD. Considering the outflow of free cash flow as well as the shareholder’s equity ratio, we cannot exclude the possibility that the company could be forced to finance on equity basis in a relatively large-scale in near future.

Invitae Corporation (NYSE: NVTA) Stock Chart

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