Cue Health Reports Preliminary Fourth Quarter and Full Year 2021 Revenue
Preliminary Fourth Quarter and Full Year Highlights
Preliminary fourth quarter 2021 revenue of
$188 millionto $193 million, compared with $13 millionin fourth quarter 2020
- Preliminary fourth quarter 2021 revenue reflects increased customer diversification, with total private sector revenue outpacing total public sector revenue
Preliminary full year 2021 revenue of
$613 millionto $618 million, compared with $23 millionin full year 2020
Cash and cash equivalents of approximately
$412 millionas of December 31, 2021
- Launched Cue+ Membership with access to 24/7 in-app primary virtual care
“Our strong performance in the fourth quarter was driven by continued market adoption across all four of Cue’s customer categories. In the quarter, we continued to add major healthcare institutions, hospital systems and providers as well as onboarded Cardinal Health and McKesson as authorized distributors of Cue. We launched several major enterprise partnerships such as our partnership with Air Canada, providing customers with not only the most accurate* home self-test but also one that is accepted for cross-border travel thanks to Cue’s in-app Supervised Test for Travel. We also launched our direct-to-consumer offering, available online, including our Cue+ Memberships with access to 24/7 in-app primary virtual care,” said
*Based on clinical study results submitted to FDA for other EUA molecular home tests.
The above information is preliminary and subject to Cue Health’s normal quarter and year-end accounting procedures and external audit by the company's independent registered public accounting firm.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements". The words, without limitation, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," “develop” “progress,” “expand” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including those related to the expected capabilities of the new Omicron-specific genotyping Cue test, our ability to maintain customer growth rates, our ability to increase private sector revenue, and the factors discussed in the "Risk Factors" section of the Form 10-Q dated