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Jun 30, 2023
Personalis Q2 2023 Earnings Report
Reported a decrease in revenue compared to the same quarter last year, but highlighted progress in biopharma opportunities and MRD test development.
Key Takeaways
Personalis reported a total revenue of $16.7 million for Q2 2023, an 8% decrease compared to Q2 2022. The company is focusing on expanding its biopharma opportunities and plans to launch its MRD test later this year.
Announced collaboration with National Cancer Center Hospital East and Ono Pharmaceutical Co. Ltd for biomarker analysis.
VA MVP exercised the first of four one-year renewal options under the September 2022 contract.
Filed second patent infringement lawsuit against Foresight Diagnostics.
Expects revenue growth to begin ramping later this year.
Revenue by Segment
Forward Guidance
Personalis expects total company revenue of approximately $17 million for the third quarter of 2023, with revenue from pharma tests, enterprise sales, and other customers of approximately $14 million, and revenue from population sequencing of approximately $3 million. For the full year of 2023, the company expects total company revenue in the range of $70 million to $72 million, with revenue from pharma tests, enterprise sales, and all other customers in the range of $61 million to $63 million, and revenue from population sequencing of approximately $9 million. Net loss is expected to be approximately $103 million, and cash usage is expected to be approximately $70 million.
Positive Outlook
- Total company revenue of approximately $17 million for Q3 2023
- Revenue from pharma tests, enterprise sales, and other customers of approximately $14 million for Q3 2023
- Revenue from population sequencing of approximately $3 million for Q3 2023
- Total company revenue in the range of $70 million to $72 million for full year 2023
- Net loss of approximately $103 million for full year 2023
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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