NanoString Technologies, a provider of life science tools for research and molecular diagnostic products, beat Wall Street’s expectations with a record $10.9M in revenue for the second quarter, which was up 51 percent from the year-ago quarter. However, the Seattle-based company fell short of earnings expectations with $14 million in losses.
“We sustained momentum throughout the first half of the year, posting our third straight quarter of greater than 50% year-on-year revenue growth,” CEO Brad Gray said in a statement.
The company increased its revenue by $2.1 million from Q1, while its net loss grew by $2.6 million. Nanostring, which went public in June 2013, predicts revenue of up to $50 million for 2014, with net loss in the $40 to $50 million range.
Shares of NanoString, which are up 44 percent in the last 12 months, were up just over 1 percent in after-hours trading Tuesday.
Here’s a closer look at Nanostring’s financials: