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spk_0: before we begin i'd like to remind you that is conference call came forward looking statements within the mean and of section twenty one a of the securities exchange act of like team thirty four as amended i'm this defined in the here with private securities litigation reform act of nineteen ninety five these forward looking statements can be identified by terminology such as will expects anticipates future in tennis plans for leave estimates target return and stimulus statement statements that are not historical facts including statements about burning books beliefs on expectations of forward looking statements such statements are based upon management's current expectations on current market an operating conditions and relate to events that involve known or unknown risks uncertainties and other factors all of which are difficult to predict and many of which are beyond burning rocks control forward looking statements involve risks uncertainties and other factors that could cause actual results to differ materially from those contained in any such a statement ben iraq campaigns not undertake any obligation to a day any forward looking statements as a result of new information future events or otherwise except as required under a pick for law of not like down the conference over to speak today mister han the ceo please go ahead
spk_1: thank you the welcome to burn iraq's twenty twenty two annual conference call or unease and have ceo and founder open era today we also have always video jojo and fearful really tonight now let's turn to page three days there are some you that there's a one not familiar with a very well i hereby illustrate what we do the old business started from tissue based therapies election in twenty or team and then expand to multi directions of liquid obscene and including liquid they'd thirtieth election i'm are the multi cancer early detection and we have three business unit are providing an hour products and services or two doctors farmers than our consumers now that the to pitch pitchfork those are in this page will will have a review of was are and eat any two put a general view out of our company we completed wow profitability driven organization optimization the overall hair comb have been optimized by twenty five percent and we did in that case was still deliver strong growth in not known cold cold the quarter and a cheap our eleven percent yo yo girls are intended twenty two and we completed that lifting or london stock exchange offering an alternative live in value in addition to nasa the believe that this is a significant a development as the proviso a fullback solution to facilitate continued trading and lifting up shares in case of up the lifting scenario of eighty out on nasdaq we also noted up the latest and from the as a fee in december that as of now there is no risk of chinese issue as getting the lifted which is a good for us the for therapy selection ah we achieve thirteen percent or volume growth be five cody challenges didn't by in hospital channel and a nineteenth panel ah were pooled was approved by a member of providing a better weapon or in hospital model this is our second approved and yeah space tap by the number and demonstrating our capability of walking without a little hard to being innovative that not the product to the market for mrt thirty tended to with a bit year in terms of global date of publication we provided the initial read out on long and colon cancer atheists are tiny tiny to follow the by additional publications doll calling and ten granted cancer and as cold as twenty twenty three we also expect that effective additional publication allow this year a yeah a commercially we launched our be a profit i'll a personalized up and marty pro that in march and the the volume of the a patient that was serving keep increasing of a fair there is a good speed our former the new concept well increase forty three percent to arm the two hundred and sixty three million and intended any to and endowed alert two hundred percent revenue growth on strong backlog execution if we're mrt oversee was granted up the a breakthrough device designation it and and thunder study for six gathered have development was published on and up on college is a journal with i in have that of about fifty one and it or not a strong proof of i would have knowledge and for them
spk_2: the problem is a study out which is that around with you say exactly two thousand and thirty five subjects might have that has a devout roman completed a readout
spk_1: predict and prather thought it ah almost seven fm pin other subjects twenty two cancer has development as ongoing ongoing and prevent study which is up was back at a perfect a prospective study ah thought as if cancer of cast out was large last year and i was the he'll go down will elicit more about our he did have to study and allah and to paid five this page so what been iraq aim to achieve in twenty twenty three the number one goal as proverb profitability
spk_3: they go with that is to ah
spk_1: pretty even excluding on the during a quarter in twenty twenty three the main reason is that in twenty twenty two or three and tentative enforce the law figure for our and see the on the development a second goal or is continued revenue growth a healthy increase it with a probability is what we want to achieve our initial i'll look for twenty twenty three revenue growth rate is that comes out and you prefer and a third goal is to further our leading position in and and the the as number one player in china and a top player globally the main aren't these then ah as that that will focus on and cd this year let me break down the goes into four parts for therapy election will continue to improve the sales product that a productive activity by strengthen the a hospital model and for mit plaza his top of personally a person personalized mrt in pop in tough hospitals due to the operation difficulties off a personalized mit it is very challenging to install this matter in hospital however if more and more hospitals are controlled outstanding of tissue samples and mit a flying nice tissue samples only in hospital model can bring the volume of of em are the to the next level and thanks to the efforts of our on the and oppression team will be able to launch the hospital model of be a profit in a new near future i believe it will be a song enjoy for are burning rock uncle bill and as start to impact the to impact in a for this year a bullet bow farmer the goal is continue is that up profitable grouse with the new platform of mrt and more international orders we are optimistic to to the growth of our former business over as the be ah prevent study which is our first step is a study of for over ten thousand subjects will have a intervene or out in i don't have a year apart or twenty twenty three and will will continue that about women study up attendees twenty two to cancer cat in pretty impressive also were building the regular the a regulatory pathway without the a ah and a number is specially neighbor the commercialization out will go on athletic that selected thought hospitals let's turn to page six i know that investors care about our financial status i the apple we'll we'll elicits more lead all for on this pace i just want to so that we are doing a great effort to reduce the rate if there's no more bigger scale a clinical trials of and mcd the bear rate will it lead the crave in the coming to years and they get there is a new trial started especially under an empire reputation again that will be or even better news the get away or ones who are present today and i will pass their presentation to go to tell about our technology than child's mouth mcd and mit showcase confusion and fell on i gonna introduce some a page regards the and cdn mrt ah left turn to page eight so this is a basically are update regards that when he was already a passion technology development
spk_4: though though on of publication of the basic technology in a proof of a cough up in nature biomedical engineering last year ah we we actually recently make a good publication or and along college you regardless under study which is as six cancer early detection on trial we rent and past several years and her arms though the other very highlight part is basically we gotta repertory with through which is a week we grant of the iguanas a breakthrough device as a nation early this year and that it is actually a very significant can earn achievement
spk_1: pub in iraq currently we actually are working closely with ft bullet for the for the next that you see to seeking full reddit her approval in a future i'm so so let's turn to page nine physically this is the
spk_4: a sly which we presented a previously talking about the bunny rocks an early detection and proud of on the map as you can see here for the if cancer a reputation of product which we can oversee ah
spk_5: and after the thunder a study being published in and on college and last month so currently we are actually running a program called prevent study which is a prospective an international in ten of youth population and this is ongoing and this moment the recruitment a the pretty a significant number there and up
spk_4: we probably will update that i read out later this year before the first phase and the and a a a meanwhile i feel we are actually given given up in a up to twenty two cancer and and he the a product and there's a several several trial several a clinical study will data to yet and we already are publish the you know your poster format in he has more last year or we could prompt promised study and up at at at this moment the we actually a in a very intensive of preparation regards a preparations beijing in the predicting the present study which cover our up to seventeen thousand individual and the for this twenty two cancer and prada in the future
spk_1: i'm felt like i mentioned their the flight ten just the layout to the six can't get to cancer program was stabbed it is it is and i won't cover too much a repeat this anymore and so let's just the puck coop as turn to page
spk_4: twelve live in a talk about the members the disease update on so mrt of actually one of the very important business new business would have been iraq in past several years and of life hurting talk about the mrt test utility together or just to kind of utility wanted to prove not that utility would can already been proven in a lot of a think of any oil or another mine on the utility will be the afternoon or diagnosis and type director therapy id can see swinging read and i in the united states or the are already been a cms courage regard than that and marty utility by some other product to that fly over iraq i feel seeking full of all those kind of utility utilizing our own technology company a b a profit which is that a summarized in flight and fourteen so the or profit is our acknowledge it leverage on the whole have something
spk_1: equal thing to gather up to fifty earn a tracking site and the we define the privilege panel twenty tracking the fifty five for for the fall off trying to get his up with an office and as well as a therapy a bad as later in the future
spk_4: i'm so this priorities launched last year we almost like a in anniversary the launching a at this moment and a flights stitching talk about the current some i'm arguing need to publication we achieve though we have preferred have worked in
spk_1: you know looking very hard and you get loved as a cover this is a particular pink and for problem in the ah we have already published our own now small cell lung cancer was served a year last year and the in his yard happen next mouse will provide update on this on this a nerf ball fell on cancer
spk_4: and and can add to the patient number will increase significantly and a political or other casserole we provide a two different study one study are to be published last year in a yard eat and it you and i'll get another one it's are actually ongoing it's a it's a very brief faith are gonna talk about later at basically it's the ask oh gee i are this year early this year in san francisco we prevent the initial data but the this this study is still ongoing and a we are currently actively collecting the longitude you know monitoring of a point and hopefully we'll get a more read out in future and that in ask
spk_1: yeah this year we also have a pancreatic cancer from smoking hot the demonstrate the not only own ah smirnov my cell lung cancer as well as the color of against cancer we can do a lot of other cancer types including the pancreatic cancer which of them most lethal cancer and of it and and and also been proven hard to find the that and marty he in from other study and flight and for next live the life fifteen basically talking about the pancreatic cancer cohort oh we recruit actually we this is of is observed observational study and a week collected on an awful are we collect his trendy a patient a baseline which is a priest agree and as well as the us and some follow like this seven days after surgery and assorted a fast agree as you can see here for preferred way of pancreatic cancer we got one hundred percent positive results love the city dna existence was showing this a very impressive us says
spk_4: timothy of these athletes and oh we as you can see here sister some on the survival covert her showing that very very good ah the ratio as trend sweep wonderful five and a showing the the proven office utility of this mrt as it and arms over the flight seventeen is another update regards the clarification like i mentioned earlier the we're actually still working on this being asked to i twenty twenty three we already demonstrated a hundred twenty seven patient in the initial
spk_1: call right now we almost collect like you highly trained a patient data from the baseline kill the kill the country news follow up and as a will see the there's a lot of our data showing here if you have interest you can we dug into detail later a basically the technology demonstrator very high sensitivity along with very high specificities which we believe in the a it it will
spk_6: potentially generate a lot more utility other than put office
spk_1: i'm so i going to cancun my part of here are limits current you earn our fear for you to talk about by nature and you thanks yeah i like to cover three topics on the first them talk about the fourth quarter twenty points to recap they're not talk about the latest trends in the first quarter twenty twenty three and out our talk about twenty three three initial outlook first let's go do on the fourth quarter recap and when you go to page twenty and then we can see that we finished the fourth quarter a stronger than we previously anticipated recall that back in november we got it for twenty twenty two for yeah revenue growth to be about five percent at which implies a twenty something year over year drop or for the first quarter we any the quarter in a stronger performance down only three percent year over year i'm breaking be found a bit further clinical testing revenues drop in a king's range the over year in the fourth quarter that better than we anticipated back in november and testing for farmer customers are held up very well maintaining the triple digit growth rates that we achieve throughout twenty twenty two and we like to take this opportunity to commend or our staff who worked tirelessly to in a difficult kobe lockdown period our testing carried out pretty much on affected defy the lockdown suffered by many areas in china and in particular the city of toronto where our lab is located we believe the resilience demonstrated by our business the strong and healthy of ah stuff to overcome challenges will help us enough future growth yes we also like to recap our twenty twenty two for yeah performance our twenty for me to for yet revenues grew eleven percent year over year we think this is likely on the high end of growth rate achieved in a professional quality testing industry by our own estimate there were three pillars that so best friends number one are dominant mockup addition in the in hospital segment which we have built over the years into china number one position of and the second driver is mit which is a new product that we launched our in mice we believe this is a multi year growth from way and talk about some of the an initial read out and the future investments were going to make any mit area and the third is the farmer service effect months which benefited from our top performing pot for you and are leading position in a companion diagnostics regulatory approval of abilities in china we think these two colors will continue to drive our growth in a future yes the moving down on up here now we grew our adjusted gross profit which excludes noncash depreciation and i'm not amish has a son by twelve percent in a twenty for me to full year which again is likely out what the high end of industry performance by our own estimate the moving down for the opec's lines as mentioned in our previous earnings cause we continue to deliver opec's reductions as we deliver on efficiency movements initiatives all three opec's lines drop in a fourth quarter as we focused on improved south everything else productivity reduction in corporate overhead and better focus on a aren't the projects
spk_7: if we look at the metric of gross profit minus as a so take that adjusted gross profit line and subtract the thousand and marketing and that she and a line where you can see that were showing on a slap on the slide here we're getting closer and closer towards break even
spk_1: and now we anticipate to hit breakeven as some quarter by this metric doing twenty twenty three the drivers behind this was laid out or in osceola ceos remarks we are driving all commercial business units to watch profitability while our id going to be mostly on a multitasker at each action which will be more focused the yes yes filling summary operating efficiency and breakeven excluding i and expenses is going to be our number one priority for twenty twenty three
spk_4: next we i'd like to ah talk about our latest trends and would present our latest volumes on page nine king of the slide deck out can see that a fourth quarter to up a double digits compare to the third quarter were be a central last fragment dropped a bit further and
spk_1: breaking out into the lakers month we can see that we hit a bad trough in december and january as go the ramp to china but the we have returned to positive year over year growth in february regarding the first quarter given the sharp drop of volumes in january which brought the december effect a threat which brought the january february two muff combines volumes our to a decline of twenty eight percent year over year so we think it's prudent to keep expectations for the first quarter moderate and next i like to talk about our and twenty twenty three outlook what when it's referee we have to financial metrics to track a number one is what we talked about his be adjusted gross profit minus as your name we like to hit break even on a metric some course you influence twenty three and second we like to continue to deliver topline gross and out of the to objectives number one is of a party for us and within that context we are guiding initially full a twenty percent increase in revenues and twenty twenty three will keep track of all ages progress and update you on our guidance in our next quarterly results i love free to recap of cash position that future barmaid estimates which we showed on page facts are doing ah ceos opening remarks we are sitting are close to one bit nine be of cash balance with any are three years of cash runway a few me know capital ways an all cash balance covers all the chronicle programs that we have
spk_0: in place so we will not be in a loss or to do any capital base and that concludes are prepared remarks and we like to open for questions please thank you if you wish to ask a question you would need to press one and one on your telephone and wait for your name to be an hour
spk_8: to withdraw your question please dial one and one i can be some by while we compile the cuban a lobster we will take effect question of the question comes from the line of alexis young some morgan stanley please go ahead your line is open hey i thank you for taking my collection and i have two questions and number one is sad regarding the athlete right def i an iguana percent of the hottest made it better understand how much of that would be from the existing other direction properly of and how much would be found the er mit as well like the early detection earlier on it may also abby how to get a sense of on and are the contribution in twenty twenty two as context and as second question as that
spk_9: so far as the new other as like mrt an early the action and what are some of the key army commercial or stands out and africa contracting that
spk_1: we could be added we can track for the next few years and also an interim job i saw a marketing or are marketed education investment how do we assess the our our ally in terms of the commercial investment thanks for your i'll alexis are i'm michelle helpful your ah your first question are we go ah we don't like or have a very clear cut off which part of a it will contribute a homage to the percentage of gross back and give you a general view that says ah says above let's take a three part three pas encore beal of farmer and also a early detection so uncle bill i think that will be that have to get a main driver or as as you know that we have a ah a big base a the like other uncle view including a reflection and the mit and for on it up within uncle bill at i felt that that the ah the in how to a hospital model up and my the will impact on the el que four as wait in our completed has some a hospital installment of a personalized mit at knowledge into that so before that i think the thirty flexion or will be the main driver or including teacher they can also like a days a poor farmer i think that they will continue the growth a specially out with the new ah at it as into ten the is so good that thought compared to that a big they fly were ah flew a uncle deal i think that the uncle bill will get a main driver and for medicare for early detection the commercialization on i think that thought is still that the number is to ah cannot be compare with the rest out to be used but at that they can also i feel a second cousin is that multi cancer early detection are we have installed leave a around the t effort as a forty forty hospitals ah half of the love the hospitals both as you are expected get there we need to do more more more marketing activities to educated doctors in in class where a hospital for them to understand the poor that and know how to prescribe a td are to the consumers so yeah i think out that the at the growth rate of out at market as early detection this year
spk_10: will be good but thought i cannot give you the exact number of wow how much weaker without cheap a was thing is is sure that is like showing that burn rate were you aware of focusing our our energies and heck coffee mug any activities on puffery up
spk_11: pop a class three hospitals
spk_0: the answer your question
spk_12: yeah
spk_0: so my question thing thank you and kid thank you very well they say the questions this concludes today's conference cool thanks for participating you may notice can act thank you the the before we begin i'd like to remind you that is conference call contains forward looking statements within the mean and of section twenty one a of the securities exchange act of nineteen thirty four as amended i'm this defined in the us private securities litigation reform
spk_13: act of nineteen ninety five these forward looking statements can be identified by terminology such as will expects anticipates future in tennis plans leave estimates target
spk_1: the gun and similar statement statements that are not historical facts including statements about burning books police on expectations are forward looking statements such statements are based upon management's current expectations on current market and operating conditions and relate to events that involve known or unknown risks uncertainties and other factors all of which are difficult to predict and many of which are beyond burning books control forward looking statements involve risks and first cities and other factors that could cause actual results to differ materially from those contained in any such a statement ben iraq contains not undertake any obligation to update any forward looking statements as a result of new information future events or otherwise except as required under a pick for law of not like down the conference over to speak it's today mister han the ceo please go ahead thank you i welcome to burn iraq's twenty twenty two annual conference call or unease and have ceo and founder open iraq today we also have always video jojo and therefore really tonight now let's turn to page three days there are some investors were one not familiar with about iraq i hereby or illustrate what we do the old business started from tissue based therapies election in twenty or team and then expand to multi directions of liquid obscene and cooling liquid they'd serve collection i'm are the multi cancer early detection and we have three business unit are providing an app for that and services or two doctors farmers than or consumers now as opposed to pitchfork those are in this page will will have a review of four or twenty twenty two put a general view out of our company we completed wow profitability driven organization optimization the overall comb have been optimized by twenty five percent and we did in that case was still deliver strong growth in not known cold cold the quarters and achieve eleven percent yo yo growls are intended twenty two and we completed that lifting or london stock exchange offering an alternative live in value in addition to nasa the believe that this is a significant a development as the proviso a fullback solution to facilitate continued trading and lifting up shares in case of up the lifting scenario of eighty hours on nasdaq we also noted up the latest damon from the as a fee in december that as of now there is no risk of chinese issue as getting the lifted which is it good for us if for therapy selection ah we achieve thirteen percent or volume growth despite cody challenges didn't buy in hospital channel and a nineteenth panel ah were pooled was approved by a member of providing a better weapon or in hospital model this is our second approved and yes based tap by the number and demonstrating our capability of walking without a little hard to bring innovative that not their product to the market for mrt thirty twenty two with a bit year in terms of google date of publication we provide provided the initial read out on long and colon cancer a cr a tiny tiny to follow the by additional publications doll calling and tag reddit cancer and as cold as twenty twenty three we also expect the effective additional publication allow this year a yeah and commercially we launched our our be a profit l a personalized up and marty pro that in march and the the volume of the a patient that was serving keep increasing of a very very good speed our former the new concept well increase forty three percent to arm the two hundred and sixty three million and intended twenty two and of alert two hundred percent revenue growth on strong backlog execution if or mrt oversee was granted at the a breakthrough device designation it and and thunder study for six gathered have development was published on and up on college is a deterrent with i in have of about fifty one and it or not a strong proof of i would have knowledge and put up the problem is a study out which is that around with you say exactly two thousand and thirty five subjects might have a has a devout roman completed and read out predict and present study i've almost
spk_3: seven fm pin other subjects twenty two cancer has developed as ongoing ongoing and prevent study which is a prospect at a perfect a prospective study ah thought as if cancer of cast was launched last year and i with the he'll go down will elicit
spk_1: more about our he did have to study and elephant to peace five this paid so so what been iraq aim to a cheap in twenty twenty three the number one goal as proverb profitability they go with that is to ah pretty even excluding on the during a quarter in twenty twenty three the main reason is that in twenty twenty two or three and tentative and forth do a big year for ah and the the on the development the second goal or is continued revenue growth a healthy in crave it out with a probability is what we want to achieve our initial i'll look for twenty twenty three revenue growth rate is that can tend to prefer and a third goal is to further our leading position in and and the the of number one player in china and a top player globally can lean on these then ah i that that will focus on and cd this year let me break down the goes into four parts for therapy selection will continue to improve the fails product that put with upkeep activity by strengthen the a hospital model and for mit larger his top of personally a personalized mit in pop in tough hospitals due to the operation difficulties off a personalized mit it is very challenging to install this matter in hospital however is more and more hospitals are can code outstanding of tissue samples and mit a flying nice tissue samples only in hospital model can bring the volume of of mrt to the next level offense to the efforts of our own the and operation team will be able to launch the hospital model of be a profit in a new near future i believe it will be a song nj for are burning rock uncle bill and start to impact the to impact in a cure for this year a bullet bow palmer the go is continue is that up profitable grouse with the new platform of and marty and more international orders we are optimistic to to the growth of our farmer business over as the be ah prevent study which is our our perspective a study of for over ten thousand subjects will have a intervene read out in i didn't have a year apart or twenty twenty three i will will continue that and study of attendees at any to cut the cat in predict and president
spk_4: also were building the regular a regulatory pathways with that the a ah and an impact efficiently an impact
spk_1: the commercialization out will go on athletic that like a pop hospitals
spk_4: let's turn to pay six i know that investors care about our financial status out the apple meal out will elicit more lead all for on this pace i just want to so that we are doing a great effort to reduce the beret if there's no more bigger scale a clinical trials of mcd the right will significantly a decrease in the coming to years and they get there is a new trial started especially under an empire reputation again there will be even better news the debts away or ones who are present today and i will pass their presentation to gel to tell about our technology than child's mouth and cd and mit help it taxation and so on i gonna introduce some update regards the and cdn mrt ah left turn to page eight so this is the basically are update regards that when he was already a passion technology development
spk_1: though though on of publication of the basic technology in i prefer cough up in nature biomedical engineering last year
spk_4: ah we we actually recently make a good publication or and along called you regardless under study which is as if cancer early detection on trial we grant and past several years and our arms have the other very highlight part is basically we gotta repertory with through which is a week we grab at the iguanas a breakthrough device as a nation early this year and the is actually a very significant cut a team and in iraq currently we actually are working closely with ft for for the for the next that is he to seeking full reddit her approval in a future
spk_1: i'm so so let's turn to page nine physically this is the a sly which we presented it previously talking about the anthony rocks an early detection pro product of on the map as you can see here for the six cancer a reputation a product which we can oversee and after the thunder a study being published in and on college and last month so currently we are actually running a program called prevent study which is a prospective an international in kind of us population and this is ongoing and this moment the recruitment they the pretty significant number there and up
spk_4: we probably will update the that i read out later this year for the first phase and the and a a meanwhile i feel we are actually given given up developing a up to twenty two cancer and and he product and there's a several several trial several a clinical study related to yet and we already are publish the you know your posts poster format in the as more last year or we call prompt promised study and up at at at this moment the we actually are in a very intensive preparation regards a preparations beijing the predicting the present study which cover our up to seventeen thousand individual and for this twenty two cancer and prada in the future
spk_1: i'm felt like i mentioned there's there's like ten just the layout to the six can't to china to cancer program was stabbed it is it is and i won't cover too much a repeat this anymore and so let's just the puff to as turn to page twelve in to talk about the mean the disease
spk_4: update on so mrt of actually one of the very important business new business i will have been iraq in past several years and a a fly thirteen talk about the mrt test utility so then i urge to kind of utility one his the prognostic utility with can already been proven in a lot of a think of any file or another mine on the utility will be the abnormal diagnosis and type of director therapy
spk_1: i did you can see swinging read and the in the united states or the are already some cms courage and good night then
spk_4: and marty utility by some other product will not fly over in iraq i she's seeking full of all those kind of utility utilizing our own technology company a b a profit which is that a summarized in flight and fourteen so the a profit is our acknowledge it leverage on the whole have some sequel thing to gather up to fifty earn a tracking site and the we design the privilege panel twenty tracking the fifty five for for the for off trying to get his up with an office and as low as a therapy
spk_1: a bad as he taking the future i'm so this priorities launched last year we almost like a in anniversary the launching of at this moment and a flights stitching talk about the cars some am arguing the to publication we achieve though we have preferred to have worked in working you very looking very hard and you get laughed as a cover this is a particular pink and for problem in the ah we have already published our own now small cell lung cancer or served a year last year and the in a cr happen next month will provide update on this on this a small cell lung cancer
spk_4: and the can add to the the patient number will increase significantly and a political or rather casserly provider are two different study at once that been published last year in a yard twenty twenty two and as get another one if are an ongoing it's a it's a very brief update are gonna talk about later at basically as the ask oh gee i are this year early this year in san francisco we prevent the initial data but this this study is still ongoing and a we are currently actively clacking the longitude you know monitoring on made a point and hopefully we'll get a more weed out in the future and acting as good
spk_1: yeah this year we also have a pancreatic cancer on smoking hot to demonstrate the not only own ah smirnov my lung cancer as well as the color of her cancer we can do a lot of other cancer types including the pancreatic cancer which of the most lethal casper and of it and and and also been proven hard to find the that and marty he in from other study
spk_6: i'm flight and for next flight the slice fifteen basically talking about the pancreatic cancer cool hardest oh we were could actually we this is of is abolish observational study and a week collected on an awful are week lacked a trendy a patient a baseline which is a priest agree and as well as the us and some follow like this seven days after surgery and authorities have surgery and you can see here for preferred way of pancreatic cancer we got a one hundred percent positive results love the city the in existence was showing this a very impressive us says
spk_1: utility of these athletes and oh we as you can see here sister some on the survival current hook showing that very very good ah the ratio as twenty three point four five and showing the the put an office
spk_6: utility of this mrt as it and arms over the flight seventeen is or another update were guys the clarification like i mentioned earlier the we're actually still on
spk_1: looking on this being asked to i twenty twenty three we already demonstrated a a hundred fifty seven patient in the initial call right now we almost collect like to highly trained a patient data from the baseline kill ah yoda country news follow up and as a will see the your the a lot of a data showing here if you have interest you can we dug into detail later a basically the technology demonstrator very high sensitivity earn along with very high specificities which we believe in the of it it will put actually generate a lot more utility other than put an office so i gonna cancun my part of here are limits turn to earn out here for you to talk about by nature and you thanks yeah i like to cover three topics on first them talk about the fourth quarter twenty points to recap then i'll talk about the latest trends in the first quarter twenty twenty three and out our talk about twenty twenty three initial outlook first let's go do on the fourth quarter recap and when you go a page twenty and then we can see that we finish the fourth quarter a stronger than we previously anticipated recall that back in november we got it for twenty twenty two for yeah revenue growth to be about five percent not which implies a twenty something year yoga year drop or for the first quarter we ended up the industry longer performance down only three percent year over year i'll am breaking the found a bit further a clinical testing revenues drops in the teens range year over year in the fourth quarter slightly better now we anticipated are back in november and testing for farmer customers are held up very well maintaining the triple digit growth rate that we achieve for throughout twenty twenty two and we like to take this opportunity to commend or our staff who worked tirelessly to in a difficult kobe lockdown period our testing carried out pretty much on affected despite the lockdown suffered by many areas in china and in particular the city of toronto where our lab is located will believe the resilience demonstrated by our business the straw i'm and healthy of ah stuff to overcome challenges will help us enough future growth yes we also like to recap our twenty twenty two for yeah performance our twenty from to for yet revenues grew eleven percent year over year we think this is likely on the high end of growth rate achieved in a position of college quality testing industry by our own estimate there were three pillars that so best friends number one are dominant market position in the in hospital segment which we have built over the years into china's number one position of and the second driver is mit which is a new product that we lost our in mice were believe this is a multiyear growth from way and joe talked about some of the and initial redoubts and the future investments were going to make any mit area and a third is the farmer service segments which benefited from our top performing portfolio and are leading position in a companion diagnostics regulatory approval of abilities in china we think these two pillars will continue to drive our growth in a future yes
spk_4: the moving down on up yeah now we grew our adjusted gross profit which excludes noncash depreciation and on amortization by twelve percent in a twenty for me to full year which again is likely out what the high end of industry performance by our own estimate
spk_1: the moving down to the opec's lines as mentioned in our previous earnings cause we continue to deliver opec's reductions as we deliver on efficiency improvements initiatives all three opec's lines drop in a fourth quarter as we focused on improved south everything else productivity reduction in corporate overhead and better focus on the aren't the projects if we look at the metric of gross profit minus as dna so take that adjusted gross profit line and subtract the thousand marketing and the and a line where you can see that were showing on a slap on the slide here we're getting closer and closer towards break even and now we anticipate to hit breakeven as some porter by this metric doing twenty twenty three the drivers behind us was laid out or in osceola ceos remarks we are driving all commercial business units to watch profitability while our be going to be mostly on a multi cancer at each action which will be more focused than the previous yes filling summary operating patient see and breakeven excluding ninety expenses is going to be our number one priority for twenty twenty three next we i'd like to ah to talk about our latest trends and would present our latest volumes on page nineteen of the slide deck out can see that a fourth quarter to up a double digits compared to the third quarter were be a central laugh fragment dropped a bit further and breaking out into the lakers month we can see that we hit a bad trough in december and january as go the ramp to china but the we have returned to positive year over year growth in february
spk_0: regarding the first quarter given the sharp drop of volumes in january which brought the december affect us for threat which brought the january february two muff combines volumes are to a decline of twenty eight percent year over year so we think it's prudent to keep expectations for the first quarter moderate
spk_8: and next i like to talk about our and twenty twenty three outlook what twenty three three we have to financial metrics to track a number one is what we talked about his be adjusted gross profit minus as your name we like to hit break even on a metric some courses you influence twenty three and second we like to continue to deliver topline gross and out of the to objectives number one is of high a party for loss and within that context we are guiding initially for a twenty percent increase in revenues and twenty twenty three will keep track of all ages progress and update you on our guidance in our next quarterly results i love free to recap of cash position that huge future barmaid estimates which we showed on page facts are doing ah ceos opening remarks we are sitting are close to one billion nine the of cash balance with any are three years of cash runway a few me know capital an our cash balance covers all the chronicle programs that we have in place so we will not be in a loss or to do any capital base and that concludes our prepared remarks and we like to open for questions please thank you if you wish to ask a question you would need to press start one and one on your telephone and wait for your name to be allowed to withdraw your question please try star one and one i can be some by while we compile the cuban a lobster
spk_9: we will take first question of the question comes from the line of electrician some morgan stanley please go ahead your line is open
spk_1: hey i thank you for taking my collection and i threw a questions and number one is sad regarding the athlete way hi def and twenty percent of the have made it better understand how much of that would be from the existing other direction properly of and how much would be found the mit as like the early detection earlier on it may also abby how to get a sense of and and or the contribution in twenty twenty two as context i'm and a second question as bad so far as the new added as like mrt an early detection and what are some of the key army commercial or stands out and africa tracking that we could be added we can track for the next few years and also an interim job i saw a marketing or are marketed occasionally investment how do we assess the our ally in terms of the commercial thanks for your out alexis are i'm michelle help your or your first question are we don't ah ah we don't like or have a very clear cut off though which part of a crush it will contribute a homage to the percentage of of grows back and give you a general view that says ah says about let's take a three part three pas encore feel of farmer and also a early detection so uncle bill i think that will be that will be the main driver or as as you know that we have a a big base a like other uncle view including a reflection and the mit and for on it up within uncle bill at i felt that that the ah the in have a hospital model up and my the will impact our on the al que four as wait our our completed as some a hospital installment of a personalized mit at knowledge into that so before that i think the thirty flexion or will be the main driver or including teacher they can also a at a performer as into that they will continue on the growth
spk_10: especially with the that new
spk_11: the at it as into ten the is good but thought compared to that a big they fly for ah flew a how deal i think that the uncle bill will get a main driver
spk_0: a former together early detection the commercialization on i think that thought is still that the number is to ah
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