Logotype for OpGen Inc

OpGen (OPGN) investor relations material

OpGen Q4 2023 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for OpGen Inc
Q4 2023 earnings summary15 Nov, 2024

Executive summary

  • OpGen underwent a major business transition in 2024, exiting its legacy molecular diagnostics operations after the insolvency and asset sales of its subsidiaries Curetis and Ares Genetics, and is repositioning into the financial technology sector under new ownership by AEI Capital Ltd.

  • The company completed a significant recapitalization, including a $3M Series E Preferred Stock sale, conversion to common stock, and a new $9M equity line with AEI Capital Ltd., providing liquidity for future operations.

  • A one-for-ten reverse stock split was effected in May 2024, and the company now operates virtually after assigning its headquarters lease.

Financial highlights

  • For the three months ended September 30, 2024, OpGen reported no revenue, compared to $699K in the same period in 2023, due to the deconsolidation of subsidiaries and business repositioning.

  • Net income for Q3 2024 was $8.9M, a turnaround from a net loss of $4.1M in Q3 2023, primarily due to a $9.7M gain on extinguishment of debt after settling the EIB loan guaranty.

  • For the nine months ended September 30, 2024, revenue fell 92% year-over-year to $196K, while net income was $7.6M versus a $15.6M loss in the prior year period.

  • Total operating expenses for Q3 2024 decreased 82% year-over-year to $784K, reflecting the wind-down of legacy operations.

  • Cash and cash equivalents were $1.6M as of September 30, 2024, up from $1.2M at year-end 2023.

Outlook and guidance

  • Management expects to fund operations for more than 12 months through its equity line with AEI Capital Ltd., with up to $7M in additional capital available as of September 30, 2024.

  • The company plans to exit the Unyvero business and launch a new fintech venture focused on digital investment banking and listing consultancy services.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

OpGen, Inc. is a precision medicine company that focuses on developing molecular diagnostic tools for the detection of infectious diseases. The company's products and services include rapid diagnostic tests and bioinformatics solutions designed to identify bacterial pathogens and antibiotic resistance. OpGen serves healthcare providers and laboratories, aiming to improve patient outcomes through faster, more accurate diagnostics for conditions such as urinary tract infections and bloodstream infections. The company is headquartered in Rockville, United States, and its shares are listed on the NASDAQ.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage