HTG Molecular Diagnostics, Inc. (HTGM) saw its loss almost stable for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.70 million, or $0.83 a share. Revenue during the quarter grew 19.91 percent to $1.46 million from $1.22 million in the previous year period. Gross margin for the quarter contracted 1913 basis points over the previous year period to 15.32 percent.
Operating loss for the quarter was $5.24 million, compared with an operating loss of $5.34 million in the previous year period.
"In 2016, we believe HTG made significant strides in customer adoption and building a solid platform for long-term growth," said TJ Johnson, HTG’s president and chief executive officer.
Working capital drops significantly
HTG Molecular Diagnostics, Inc. has witnessed a decline in the working capital over the last year. It stood at $5.11 million as at Dec. 31, 2016, down 82.08 percent or $23.43 million from $28.54 million on Dec. 31, 2015. Current ratio was at 1.51 as on Dec. 31, 2016, down from 5.52 on Dec. 31, 2015.
Debt moves up
HTG Molecular Diagnostics, Inc.has witnessed an increase in total debt over the last one year. It stood at $11.78 million as on Dec. 31, 2016, up 9.10 percent or $0.98 million from $10.80 million on Dec. 31, 2015. Total debt was 63.83 percent of total assets as on Dec. 31, 2016, compared with 27.37 percent on Dec. 31, 2015.
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