OncoCyte Corporation functions as a molecular diagnostics firm specializing in the research, development, and market introduction of distinctive, laboratory-developed tests aimed at ...
Insight Molecular Diagnostics Inc. (iMDx), formerly known as Oncocyte Corporation, is a publicly traded molecular diagnostics company headquartered in Nashville, Tennessee, with a principal office in Irvine, California. Founded in 2009, the company is dedicated to democratizing access to molecular diagnostic testing and advancing precision medicine in transplantation and oncology. ...Insight Molecular Diagnostics Inc. (iMDx), formerly known as Oncocyte Corporation, is a publicly traded molecular diagnostics company headquartered in Nashville, Tennessee, with a principal office in Irvine, California. Founded in 2009, the company is dedicated to democratizing access to molecular diagnostic testing and advancing precision medicine in transplantation and oncology. iMDx operates CLIA-certified and CAP-accredited laboratories, ensuring high-quality testing services. The company's key products include DetermaRx, a molecular diagnostic test for early-stage lung adenocarcinoma, and DetermaIO, a proprietary gene expression assay that predicts response to immunotherapy. These tests are designed to guide treatment decisions and improve patient outcomes. Additionally, iMDx provides expert services such as biomarker discovery, assay design and refinement, and clinical trial support to pharmaceutical partners. The company has a strategic partnership with Life Technologies Corporation to develop and commercialize the Oncomine Comprehensive Assay Plus and Determa IO assay for integration with the Ion Torrent Genexus sequencer. Financially, iMDx has incurred significant losses, with a negative net profit margin and negative cash flows, reflecting its heavy investment in research and development (R&D) and sales & marketing relative to its relatively low revenue. The company's market capitalization is approximately $156 million, and it trades on the NASDAQ Capital Market. The management team, led by President and CEO Josh Riggs since February 2023, focuses on navigating the company through a challenging financial landscape while pursuing regulatory approvals and commercialization of its diagnostic products. iMDx aims to expand its product portfolio, forge partnerships, and achieve sustainable growth in the molecular diagnostics market.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$4.1M
+115.6%
+646.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-50.2M
+17.2%
-162.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+4.7%
-88.1%
+103.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-754.1%
+76.8%
+85.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-1238.5%
+61.6%
+64.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-25.4M
-19.5%
-21.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-625.6%
+44.6%
+83.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-11.1%
+62.8%
+57.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.27x
-21.6%
-21.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Gabrielle Woody: Welcome, everyone, and thank you for joining us to discuss Insight Molecular Diagnostics' second quarter 2026 results. If you have not seen today's shareholder letter, please visit Insight Molecular Diagnostics' Investor Relations page at investors.imdxinc.com. Today's prepared remarks build upon the information already shared in this robust letter. Joining us today are Insight Molecular Diagnostics' President and CEO, Josh Riggs; Chief Science Officer, Ekke Schutz; and CFO, Andrea James. We also have our analysts with us as panelists. After our prepared remarks, our analysts may ask questions. Before turning the call over to Josh Riggs, I'd like to review our safe harbor. The company will make projections and forward-looking statements regarding future events. Any statements that are not historical facts are forward-looking statements. These statements are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We encourage you to review the company's SEC filings, including the company's most recent Form 10-K and subsequent Form 10-Q, which identify risks and uncertainties that may cause future actual results or events to differ materially. Please note the forward-looking statements made during today's call speak only to the date they are made, and Insight Molecular Diagnostics undertakes no obligation to update them. And with that, I would like to now turn the call over to Josh Riggs.
Joshua Riggs: Thanks, Gabby. It feels great to be coming to you today with line of sight on expected FDA marketing authorization for GraftAssureDx. We have 3 brief but promising takeaways today in our shareholder letter. The first is that after 3 years of rigorous kitted product development, we believe that we are seeing the light at the end of the tunnel on having a regulated product. Back in July, we got our additional information letter from the FDA. It's a normal part of the Class II process where they ask for some additional data and clarification on intended use as part of their review. Since submitting back in March, we've about tripled the amount of samples collected in the study and feel good about addressing all their questions and comments. Prior to submitting our next data package, we are going to have an SIR meeting with the FDA. This meeting is a lot like the Q-Sub process where you get direct and written feedback on your planned approach. It's an opportunity for both parties to make sure there is clear understanding on what is needed to get through to authorization and clear up any potential misunderstandings. Once we have the green light from them, the next steps are pretty straightforward. We package it all up, hit submit and wait for their response. Since March, we have been pleased with the timeliness of FDA's engagement. We continue to target receipt of FDA marketing authorization later this year with the caveat that the timing of government agency review …