Published on 2 Nov 2023 on GuruFocus.com via Yahoo Finance

DermTech Inc (DMTK) Reports 10% Increase in Total Revenue for Q3 2023

Test revenue for DermTech Inc (NASDAQ:DMTK) increased by 8% in Q3 2023 compared to the same period in 2022.The Average Selling Price (ASP) for the DermTech Melanoma Test (DMT) saw a 24% year-over-year increase.Operating expenses significantly declined in Q3 2023, with a 35% decrease in net cash burn from the full-year 2022.The company's cash runway is projected to extend into the first quarter of 2025.

Warning! GuruFocus has detected 7 Warning Signs with DMTK.

On November 2, 2023, DermTech Inc (NASDAQ:DMTK), a leader in precision dermatology, released its third-quarter 2023 financial results. The company reported a significant improvement in key performance indicators, including a growth in ASP and test revenue on a year-over-year and sequential basis. The Medicare proportion of billable samples also expanded from 23% to a record high of 27% in the last two quarters.