Invitae reduced Outflow of Cash by 26 million USD in 2022 Q1

Invitae (NYSE: NVTA) announced its 2022 Q1 financial results on May 3, 2022. According to the announcement, total revenue was up 19.4% (YoY, 3 months). Meanwhile, Invitae continued to record loss from operation and net loss. The loss from operation and net loss recorded 213 million USD and 182 million USD, respectively.

In the past, the company’s repeated M&As have caused large amounts of cash to outflow. According to the company, they will continue its efforts to reduce such outflow of the cash so as to record positive operating cash flow at the end of 2025. In 2022 Q1, the decline in total cash, cash equivalents, restricted cash and marketable securities has decreased by as much as 26.3 million USD. This is estimated to be over 100 million USD on an annual basis.

This graph shows outflow of cash, cash equivalent, marketable securities and restricted cash. 288 million USD for 2021 Q3, 197 million USD for 2021 Q4 and 171 million USD for 2022 Q1.
Outflow of Cash etc. quarter over quarter

As many people know, Invitae’s stock price peaked in December 2020 and has fallen by more than 95%. As a result, the PBR  is currently 0.21. Although Invitae is still recording a net loss, its stock price is under extremely underpriced value considering its high revenue growth potential. Watanabe & Brother’s Investment think that significant stock price growth might be expected in the future.

Important Notice 

  1. Watanabe & Brothers’ Investment is holding shares of Invitae Corporation. 
  2. This report is provided solely for informational purpose and not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell any specific products. 
  3. Any opinions or statements expressed in this report are based on the author’s personal and subjective views, and are not the official views of the organization to which the author belongs.  In addition, although we have done our best efforts in making accurate assessments on the original financial statements, we cannot guarantee any complete accuracy of this report. We do not guarantee either that any future forecasts referred to in this report will certainly be realized. Investment in listed stocks, ETFs, etc. should be carried out under the responsibility of each investor, and even if the investor who read this report suffers a loss due to investment activities, Watanabe & Brothers’  Investment is not responsible for any liability.
  4. This report was originally prepared in English, and translated into the other languages with plugin utilizing Google Translation API. We hereby notify that the translations are provided only for the sake of reference, and any opinions or statements in this report should be interpreted in original English. We ask any investors reading this report to refer to the original financial statements issued by the company.
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