10-Q · May 13, 2026
Insight Molecular Diagnostics reported a significant decline in revenue to $32,000 for Q1 2026 from $2.1 million in the same quarter last year. The company also experienced a net loss of $4.3 million, an improvement…
Earnings analysis · 10-Q
IMDX earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
iMDx reported Q2 revenue of $239,000, down 53.9% year over year and below the $437,500 consensus estimate, while EPS was negative $0.31 versus negative $0.23 expected. Gross margin improved to 65.7%, and the July 16,…
Read full summary
iMDx reported Q2 revenue of $239,000, down 53.9% year over year and below the $437,500 consensus estimate, while EPS was negative $0.31 versus negative $0.23 expected. Gross margin improved to 65.7%, and the July 16, 2026 MolDX LCD revision expanded potential surveillance coverage, but free cash flow was approximately negative $10 million and the company remains unprofitable. No numeric revenue or EPS guidance was provided; management expects outgoing free cash flow to narrow in the second half of 2026.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.31
- Gross margin
- 65.7%
What stood out
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Revenue missed consensus
Q2 revenue was $239,000, down 53.9% from $518,000 in Q2 2025 but up from $32,000 in Q1 2026. Revenue missed the $437,500 consensus estimate by approximately 45.4%.
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Gross margin rebounded
Gross margin was 65.7%, improving from 46.9% in Q1 2026 and 67.6% in Q2 2025; the sequential improvement was 18.8 percentage points.
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Medicare coverage framework expanded
MolDX revised the foundational LCD L40062 on July 16, 2026, adding surveillance coverage to previously covered for-cause testing, which management believes may support broader adoption of the GraftAssure family.
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Reimbursement milestones advanced
The company confirmed Medicare reimbursement for monitoring certain high-risk patients in December 2024, and GraftAssureCore received a positive MolDx coverage decision in August 2023 before commercial availability in January 2024.
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Cash outflow expected to narrow
Management expects outgoing free cash flow to narrow in the second half of 2026 and said it will remain disciplined on capital allocation, hiring, and expense growth.
What to watch
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Loss and EPS miss
GAAP EPS was negative $0.31 versus negative $0.23 consensus and negative $0.30 in Q2 2025. The quarterly loss remains a material profitability risk.
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Cash burn remains elevated
Free cash flow was approximately negative $10 million, compared with negative $8 million in Q1 2026 and negative $7 million in Q2 2025. Continued cash burn increases liquidity and financing risk.
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Medicare reimbursement remains uncertain
The updated reimbursement risk factor states that CMS or its local contractors could reduce or deny coverage; the revised LCD L40062 became effective on July 16, 2026, but future reimbursement amounts and coverage breadth remain uncertain.
Management's outlook
No numeric EPS or revenue guidance was provided. Management expects outgoing free cash flow to narrow in the second half of 2026 and stated it will remain thoughtful about capital allocation, hiring, and expense growth.
Earlier filings 4
10-K · March 26, 2026
iMDx is a clinical diagnostics company focused on decentralized transplant rejection testing (GraftAssure family) with near-term commercialization catalysts: CMS coverage in place and a May 2025 reimbursement increase…
10-Q · November 10, 2025
iMDx reported quarterly revenue of $260,000 (three months ended Sept 30, 2025) and GAAP net loss of $10.9M (−$0.34 per share). Revenue more than doubled year-over-year (from $115,000 in Q3 2024 to $260,000), supported…
10-Q · May 12, 2025
Oncocyte reported a sharp revenue increase to $2,138 (in thousands) in Q1 2025 from $176 (in thousands) in Q1 2024, materially improving gross profit and narrowing losses. The company raised capital in February 2025…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.