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what it is
It sells blood tests for transplant patients and tries to catch organ rejection early.
how it gets paid
Last year Insight Molecular made $2M in revenue. GraftAssureCore was the main engine at $0.9M, or 45% of sales.
what just happened
Revenue hit $3M in the latest quarter, but the loss still landed at $0.91 a share.
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
-$4.66 fy2024 eps est
$2M fy2024 rev est
n/a operating margin
xvary composite: 49/100 — below average
What they do
It sells blood tests for transplant patients and tries to catch organ rejection early.
The flagship test reads dd-cfDNA, which means donor-derived cell-free DNA, a blood signal for transplant rejection. You are not buying a broad catalog. You are buying a narrow franchise with 61.8% gross margin, meaning 62 cents of every sales dollar stayed after test costs, and 46 employees running the shop.
How they make money
$2M
annual revenue
GraftAssureCore
$0.9M
+8.0%
GraftAssureIQ
$0.5M
+12.0%
GraftAssureDx
$0.3M
+20.0%
VitaGraft
$0.2M
0.0%
Other diagnostics
$0.1M
0.0%
The products that matter
clinical diagnostic testing
Diagnostic Test Services
$1.2M · 60% of revenue
this is the larger of the two disclosed revenue buckets at $1.2M, which tells you the company is commercializing real tests but still at very small scale.
current revenue
partnership and non-core revenue
Collaboration & Other
$0.8M · 40% of revenue
$0.8M is meaningful when the whole company only does $2M in annual sales. That makes partner activity helpful, but it also shows how early the commercial base still is.
supporting revenue
regulatory growth catalyst
GraftAssureDx submission path
2026 milestone
management highlighted key milestones in February 2026 toward a De Novo FDA submission. With a $163M market cap on $2M of revenue, this milestone matters more than any single quarter of current sales.
the bet
Key numbers
$2M
fy2024 revenue
That is the whole annual top line. One small contract swing can move the chart.
$4.66
fy2024 eps
Each share lost $4.66 in 2024. The business is asking for more cash than it earns.
61.8%
gross margin
About 62 cents of every sales dollar stayed after test costs in the latest quarter.
46
employees
A 46-person staff has to do the work of a much bigger company. That keeps overhead light and execution fragile.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $2M (1% of capital)
C++ — risk rank looks solid but balance sheet grade needs watching.
Total return vs. market
Return history isn't available for IMDX right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $3M in the latest quarter, but the loss still landed at $0.91 a share.
Sales jumped 1,022% from a tiny base. The problem is the bottom line still bled, even with 61.8% gross margin.
$3M
revenue
-$0.91
eps
61.8%
gross margin
the number that mattered
The $3M quarter mattered most because it showed the test can sell, even if profits still hide behind the curtain.
source: company earnings report, 2025
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What could go wrong
the #1 risk here is an FDA delay or rejection on the lead transplant test path. When a $163M company only does $2M in annual revenue, the regulatory calendar is the business model.
med
the FDA path is carrying the valuation
Management highlighted a 2026 De Novo submission path for GraftAssureDx. If that timeline moves out or the filing disappoints, the market has very little current revenue to fall back on.
impact: the company is valued at roughly $163M on $2M of annual revenue. That gap is the entire risk.
med
dilution is not theoretical
The company completed a $26.0M registered direct offering on Feb 11, 2026, and the stock dropped 22.7% on the news. That is what financing pressure looks like in real time.
impact: with Q3 2025 net loss at $15.1M and cash at $18.7M, future capital raises can keep showing up before the commercial model fully matures.
med
commercial traction is still tiny
Annual revenue is just $2M, with $1.2M from Diagnostic Test Services and $0.8M from Collaboration & Other. That means a single customer, partner, or reimbursement setback can matter a lot.
impact: respectable 61.8% gross margin does not help much when the revenue base is this small.
a forced delay in commercialization would hit a business that already lost $15.1M in one quarter and still depends on capital markets to bridge the gap.
source: institutional data · regulatory filings · risk analysis
Pay attention to
submission clock
GraftAssureDx De Novo FDA timing
Management said key milestones were completed in February 2026. This is the calendar item that matters most because the stock is priced on future approval economics, not current sales.
cash math
cash versus loss rate
$18.7M in cash sounds useful until you put it next to a $15.1M quarterly net loss. You want to see burn moderate before the next capital raise becomes the whole story again.
commercial proof
whether revenue gets above the $2M annual base
The company grew revenue 26.7% last year, but the absolute number is still tiny. You need to see traction show up in dollars, not just in narratives.
dilution risk
market reaction to any new financing
The last $26.0M raise sent the stock down 22.7%. That makes future financing a live risk signal, not a footnote.
Analyst rankings
earnings predictability
35 / 100
low predictability means the numbers are noisy. in human-speak, analysts do not have a clean line of sight into near-term results.
beta
1.2
beta measures how much a stock tends to move versus the market. at 1.2, IMDX has historically moved a bit more than the index, which is normal for a thin small cap.
source: institutional data
Institutional activity
institutional ownership data for IMDX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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