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Mar 31, 2023
Personalis Q1 2023 Earnings Report
Reported a 24% increase in revenue compared to Q1 2022 and announced several collaborations and partnerships to advance personalized cancer testing and MRD measurement.
Key Takeaways
Personalis, Inc. reported a 24% increase in revenue for the first quarter of 2023, driven by growth in pharma tests and enterprise sales. The company is focused on expanding its presence in the MRD space, enabling personalized cancer vaccine development, and supporting biopharmaceutical customers with clinical trials.
Revenue grew 24% year-over-year, demonstrating execution against strategic focus.
Pharma tests, enterprise, and other customers revenue increased by 35% compared to Q1 2022.
Collaborations announced with Cancer Research UK, University College London, and AstraZeneca to utilize NeXT Personal assay.
Partnership established with Criterium and ABRCC for a clinical trial to validate NeXT Personal assay in early-stage TNBC.
Revenue by Segment
Forward Guidance
Personalis expects total company revenue of $16 million to $17 million for the second quarter of 2023. For the full year 2023, Personalis expects total company revenue in the range of $68 million to $72 million and a net loss of approximately $103 million.
Positive Outlook
- Total company revenue of $16 million to $17 million for Q2 2023
- Revenue from pharma tests, enterprise sales, and other customers of $13 million to $14 million for Q2 2023
- Revenue from population sequencing of approximately $3 million for Q2 2023
- Total company revenue in the range of $68 million to $72 million for full year 2023
- Revenue from pharma tests, enterprise sales, and all other customers in the range of $59 million to $63 million for full year 2023
Challenges Ahead
- Revenue from population sequencing of approximately $9 million for full year 2023
- Net loss of approximately $103 million for full year 2023
- Cash usage of approximately $75 million for full year 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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