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Mar 31, 2024
Personalis Q1 2024 Earnings Report
Reported first quarter 2024 financial results and raised full year revenue guidance.
Key Takeaways
Personalis reported strong execution in Q1 2024, exceeding revenue guidance with $19.5 million and demonstrating progress in NeXT Personal clinical evidence development.
Total company revenue reached $19.5 million, surpassing the upper end of guidance.
Pharma testing and services revenue increased by 55% to $9.8 million.
Net loss decreased to $13.0 million compared to $28.7 million in the first quarter of 2023.
Cash, cash equivalents, and short-term investments totaled $95.4 million as of March 31, 2024.
Revenue by Segment
Forward Guidance
Personalis expects revenue between $19.5 to $20.5 million for Q2 2024. The full year revenue guidance increased to $76.0 to $78.0 million.
Positive Outlook
- Total company revenue in the range of $19.5 to $20.5 million for Q2 2024.
- Revenue from pharma tests, enterprise sales, and other customers in the range of $18.0 to $19.0 million for Q2 2024.
- Revenue from population sequencing of approximately $1.5 million for Q2 2024.
- Total company revenue range increased to $76.0 to $78.0 million for full year 2024.
- Revenue from pharma tests, enterprise sales, and all other customers in the range of $68.0 to $70.0 million for full year 2024.
Challenges Ahead
- Non-GAAP net loss of approximately $77.0 million for full year 2024.
- Cash usage of approximately $62.0 million for full year 2024.
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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