Great Basin Reports 143 Revenue-Generating Customers to End Third Quarter

Press Releases |

24 percent customer growth in the period, sales funnel increases by 28.5 percent

SALT LAKE CITY--Great Basin Scientific, Inc. (GBSN) , a molecular diagnostics company, today announced it added 28 new customers in the third quarter of 2015. As of September 30th, the company had secured 143 U.S. customers and had 64 evaluations either in-progress or scheduled, compared to 115 customers and 46 evaluations reported for the second quarter ending June 30, 2015, representing an increase of 24 percent and 39 percent respectively. Great Basin’s sales funnel, which represents the number of customers along with active and scheduled customer evaluations, grew to 207 at the end of the third quarter, up from 161 at the end of the second quarter, an increase of 28.5 percent.

“September was the strongest month for customer acquisition in the history of Great Basin—with 24 new customers added in that month alone—showing what we believe is sustained strength in our sales funnel, and continuing demand for our Group B Strep test”

Adoption for Great Basin’s Group B Streptococcus (GBS) test—which was commercially launched on June 1, 2015—continued to expand. The Company ended the third quarter with 66 customers and potential customers either evaluating or scheduled to evaluate GBS, a 38.6 percent increase over the customer and potential customer sites for GBS reported at the end of second quarter.

“September was the strongest month for customer acquisition in the history of Great Basin—with 24 new customers added in that month alone—showing what we believe is sustained strength in our sales funnel, and continuing demand for our Group B Strep test,” said Ryan Ashton, co-founder and Chief Executive Officer of Great Basin Scientific. “I’m extremely pleased with the strides we have made toward a shortened sales cycle and for achieving a 91 percent evaluation win-rate in the quarter, which adds to our confidence of achieving our customer acquisition guidance by the end of the year.”

About Great Basin Scientific

Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease. More information can be found on the company’s website at www.gbscience.com.

Forward-Looking Statements

This press release includes forward-looking statement regarding the Company’s customer acquisition growth, sales funnel and future demand for our Group B Strep test. Forward-looking statements involve risk and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risk and uncertainties include, but are not limited to: (i) our limited operating history and history of losses; (ii) our ability to develop and commercialize new products and the timing of commercialization, including the Staph ID/R Blood Culture Panel mentioned herein; (iii) our ability to obtain capital when needed; and (iv) other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2014. These forward-looking statements speak only as of the date hereof and Great Basin Scientific specifically disclaims any obligation to update these forward-looking statements, except as required by law.

Contacts

Media:
ICR
Kate Ottavio Kent, 203-682-8276
Kate.Ottavio-Kent@icrinc.com
or
Investor Relations:
ICR
Bob Yedid, 646-277-1250
bob.yedid@icrinc.com

 

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Companies

Symbol Name Price Change % Volume
GBSN Great Basin Scientific Inc. 0.01 -0.00 -9.63 6,140,887

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