Burning Rock Biotech Limited (NASDAQ:BNR) Q4 2022 Earnings Conference Call March 28, 2023 8:00 AM ET

Company Participants

Yusheng Han - Founder, Chairman and Chief Executive Officer

Joe Zhang - CTO

Leo Li - CFO

Conference Call Participants

Alexis Yan - Morgan Stanley

Operator

Before we begin, I’d like to remind you that this conference call contains forward-looking statements within the meaning of Section 21(e) of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, targets, confidence, and similar statements. Statements that are not historical facts, including statements about Burning Rock’s beliefs and expectations are forward-looking statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock’s control.

Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Burning Rock does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

I would now like to hand the conference over to your speaker today, Mr, Han, the CEO. Please go ahead.

Yusheng Han

Thank you, and welcome to Burning Rock's 2022 Annual Conference Call. I'm Yusheng Han, CEO and Founder of Burning Rock. Today, we also have our CTO, Joe Zhang; and CFO, Leo Li.

Now let's turn to Page 3. In case there are some investors who are not familiar with Burning Rock. I hereby illustrate what we do. So our business started from tissue-based therapy selection in 2014 and then expand to multi-directions of liquid biopsy, including liquid-based therapy selection, MRD, multi-cancer early detection, and we have three business units, providing products and services to doctors, pharmas and consumers.

Now let's turn to Page 4. So in this page, we will have a review of 2022. For the general view of our company, we completed profitability-driven organization optimization. The overall headcount have been optimized by 25%. And with this - in that case, we still delivered strong growth in non-COVID quarters and achieved 11% year-on-year growth in 2022. And we completed listing on London Stock exchange offering an alternative listing venue in addition to NASDAQ.