Burning Rock Biotech Limited (NASDAQ:BNR) Q1 2023 Earnings Conference Call May 29, 2024 8:00 AM ET

Company Participants

Yusheng Han - Founder and Chief Executive Officer
Leo Li - Chief Financial Officer

Conference Call Participants

Operator

Good day and thank you for standing by. Welcome to the Burning Rock’s 2024 First Quarter Earnings Conference Call. At this time all participants are in listen-only mode. Please be advised that this conference is being recorded.

Before we begin, I'd like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E 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, target, confident 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 statement as a result of new information, future events or otherwise, except as required under applicable law.

And now I would now like to hand the conference over to our first speaker today, Mr. Han. Please go ahead.

Yusheng Han

Thank you. Welcome to Burning Rock's Q1 conference call. And I'm the CEO and Founder of Burning Rock, Yusheng Han. And today you also have our CFO Leo Li and our CTO Joe Zhang online.

So today we'll go through our Q1 financial report. Let's turn to page three. There's a brief introduction of what Burning Rock is doing. We started from therapy selection in 2014 and then expanded to multiple areas, including early detection, MRD, and biopharma services. So we know that in our past two years we tried very hard to improve our capability of being to be profitable and we have made a lot of efforts.

So if we turn to page four that is what we have done in a past one quarter basically we are driving our sales efficiency to a better level and we are improving our gross margin and there will be data show later on. And then we reduced our G&A expenses to a better level. And also, the R&D -- reduced the R&D expense, so that -- to make the order company to getting more profitable.