Quarterly Investor Update - Q3 FY23 Test Volumes Rise 36% YOY
Pacific Edge has today released its Third Quarter Shareholder Update (attached) showing test volumes processed in its laboratories in the three months to the end of December 2022 increased 36% on the same three-month period a year ago.
In the three months to the end of December 2022 (Q3 23), Pacific Edge processed 7,768 tests. The 36% increase over the 5,708 processed in Q3 22, is a growth rate in line with the year-on-year growth rates the company achieved in Q2 23 and ahead of the year-on-year growth rate of 32% achieved in Q1 23.
Volumes were flat on the Q2 23’s 7,864 tests reflecting the traditional slowdown the company sees from Thanksgiving through to the New Year and the start of the fourth quarter. As the company has seen in prior years, it expects a return to quarter-on-quarter growth in Q4 23. Further detail on test volumes is covered in the shareholder update.
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