Centogene N.V. (NASDAQ:CNTG) Q2 2020 Earnings Conference Call - Final Transcript
Sep 23, 2020 • 08:00 am ET
in Q2. The most significant impact from COVID-19 seems to have occurred in H1 2020. And we see our business rolling again with the Diagnostics segment volume recovering and the level of Pharma discussions activity gaining further traction. In addition, COVID-19 testing revenues has picked up over the summer and continues to increase. This leads us to believe our full year revenues for 2020 will get us back to our original growth trajectory. Given the complexity of navigating multiple variables, assuming there is no unprecedented and unanticipated event negatively impacting our business, we cautiously anticipate that our 2020 full year revenues will be in the range of EUR60 million to EUR65 million, thus ahead of the 20% growth guidance we gave at the end of last year. We will provide a further update as the situation changes. But at this time, this is our best projection for the full year 2020.
With that, I'll turn it back to Arndt.
Prof. Arndt Rolfs
Thank you, Richard. Please now turn to Slide 20, as I summarize today's discussion. The first half of 2020 certainly has been a period with many surprises and challenges. We believe we have weathered the worst of the COVID-19 pandemic by responding with agility and resilience to the circumstances. We have managed to maintain the revenues for the first half of 2020 nearly at the same level as of H1 2019. In recent months, we have been able to drive a robust recovery of our core business with six new pharma partnerships signed in the month of August.
Our ability to quickly adjust to the pandemic and initiate COVID-19 testing has allowed us to drive our business operation without significant disruptions and allows us to mitigate some of the financial shortfalls through commercial COVID-19 testing. Taken together, as Richard has just mentioned, we expect full year revenue for 2020 to be ahead of the 20% guidance we provided at the beginning of the year. Beyond that, I remain confident in CENTOGENE's mission of supporting rare disease patients. And I believe in our ability to drive a strong short and long-term growth. Our pharma partnership conversations has been more robust than ever, and I truly believe that our best years are ahead of us.
With that, I will now turn the call over to the operator for the Q&A portion of our call. Thank you.