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Dec 31, 2024
Personalis Q4 2024 Earnings Report
Personalis reported a decrease in revenue and an improved net loss for the fourth quarter of 2024 compared to the previous year.
Key Takeaways
Personalis, Inc. reported a fourth quarter 2024 revenue of $16.8 million, a 15% decrease from the prior year, primarily due to expected declines from Natera and VA MVP. Despite the revenue decrease, the company significantly reduced its net loss to $16.4 million from $26.6 million in the same period last year. The company also highlighted a strategic investment of $50 million from Merck and an expanded partnership with Tempus AI.
Fourth quarter 2024 revenue was $16.8 million, a 15% decrease year-over-year.
Net loss for Q4 2024 improved to $16.4 million, compared to $26.6 million in Q4 2023.
The company delivered 1,441 total molecular tests in Q4 2024, a 52% increase from Q3 2024.
Personalis secured a $50 million direct investment from Merck Sharp & Dohme LLC.
Revenue by Segment
Forward Guidance
Personalis expects total company revenue for the first quarter of 2025 to be in the range of $17 million to $18 million, and for the full year 2025, revenue is projected to be between $80 million and $90 million. The company anticipates a net loss of approximately $85 million for the full year 2025, with increased cash usage due to investments in their 'Win in MRD' strategy.
Positive Outlook
- Expected total company revenue for Q1 2025 is between $17 million and $18 million.
- Projected full year 2025 revenue is in the range of $80 million to $90 million.
- Revenue from pharma tests and services, and all other customers, is expected to be $10 million to $11 million in Q1 2025.
- Revenue from population sequencing and enterprise sales is estimated at approximately $7 million for Q1 2025.
- Full year 2025 revenue from pharma tests and services, and all other customers, is expected to be in the range of $62 million to $64 million.
Challenges Ahead
- Gross margin for full year 2025 is projected to be lower (21% to 23%) than 2024 (32%) due to investments in driving clinical usage ahead of reimbursement.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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