PAMA Reports 5% Revenue Growth Driven by Carelon Policy Expansion
1 report, 1 independent
Updated Tue 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
PAMA reported total revenue of $123.1 million, marking 5% growth year over year. Exome and Genome Revenue reached $110.4 million, representing 12% growth year over year. The company also reported that its Adjusted Gross Margin expanded to 72%, and Adjusted Net Income improved to $8.6 million from near break-even in the second quarter.
From fool.com
Why it matters
The financial results show strong growth in test volume, which reached 32,134 tests, a 25% increase year over year. This growth is supported by Carelon's policy expansion, which directly benefits PAMA's business volume. The average reimbursement rate also increased by 5% sequentially to $3,436.
From fool.com
Who's involved
- CarelonHealth services company whose policy expansion benefits PAMA's volume
- PAMACzech company reporting financial results and benefiting from Carelon's policy expansion
- Patrick FoxPatrick Fox is listed as a college basketball player