Freenome Reports Q3 Earnings Beat Driven by Collaboration Revenue
Freenome (FRNM) reported third-quarter financial results that significantly exceeded analyst expectations for both earnings and revenue. The company posted a GAAP EPS of $0.58, surpassing estimates by $0.49, while total revenue reached $183.49 million, beating projections by $98.64 million. The massive year-over-year revenue growth of over 17,500% was primarily fueled by the recognition of $180.0 million under a collaboration and license agreement. This surge follows the FDA approval of SimpleScreen CRC, marking a significant commercial milestone for the company.
Tickers: $FRNM
Topics: collaboration revenue earnings beat FDA approval revenue growth
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