Guangzhou-based medical device giant Burning Rock Ltd (NASDAQ: BNR) has issued a notice upgrading its guidance on expected revenue growth for 2022. The company now projects a 10% year-on-year (YOY) increase, up from the 5% announced in November last year. This upward revision is driven by a better-than-forecast performance in the fourth quarter (Q4).
Business Segments and Q4 Outlook
Burning Rock specializes in next-generation sequencing (NGS) for precision oncology, early cancer detection, and other diagnostic services. According to the press release, Q4 revenues are expected to decline by single digits. However, individual business units show varied performances: the central lab and in-hospital segments are projected to see double-digit revenue declines due to COVID-related disruptions, while the pharma service segment is experiencing triple-digit YOY growth.
Full-Year Results
The company’s Q4 and full-year results announcement is scheduled for release in March. This upgraded guidance reflects Burning Rock’s resilience and growth potential despite ongoing challenges in the healthcare sector.-Fineline Info & Tech
