Founding CEO Tina “Super” Nova Keeps Genoptix On a Roll

3/18/10Follow @bvbigelow

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San Francisco, and provides its diagnoses online through a secure, Web-based patient reporting system, or by fax, courier, mail, or other methods.

blood cells

blood cells

Genoptix by the numbers, though, may be the real draw for investors. Among the numbers that Nova highlighted:

—The Deloitte accounting firm ranked Genoptix at No. 15 on its 2009 list of the 500 fastest-growing companies in North America.

—Annual revenue grew by almost 59 percent in 2009, from nearly $116.2 million in 2008 to $184.4 million in the year that ended Dec. 31. The company estimates its 2010 revenue will fall between $235 million and $240 million, a roughly 30 percent increase.

—Genoptix has been profitable since the first quarter of 2007. Net income, which was $30.6 million (or $1.71 per share) in 2009, is projected to be about $33 million (or $1.80 per share) in 2010.

—The company’s gross profit margin was about 62 percent last year, although Nova says that is expected to decline to about 50 percent this year as Genoptix begins construction on a new $30 million facility and expands its sales force, middle management ranks, and staff of blood pathologists. “We plan to strategically expand our facilities infrastructure to meet our growing organic and case demands,” she explains.

—Genoptix estimates there are about 850,000 patients in the U.S. with blood cancer or related malignancies, with about 150,000 new cases diagnosed each year. About 375,000 bone marrow tests are performed each year in the U.S., which is estimated to be a $1 billion-a-year market. Genoptix currently has a 7 percent share of the market, which Nova hopes to increase to 15 percent or more over the next two to three years. Local pathology laboratories are its main competition.

Genoptix was founded in 1999, and went public in … Next Page »

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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  • JB

    Great company, they deserve every bit of the praise they’ve got.

  • http://evestidos.com Novia

    Nova is such a good company, they are doing really well. I hope they get the cure