Personalis ( (PSNL) ) has released its Q4 earnings. Here is a breakdown of the information Personalis presented to its investors.
Personalis, Inc., a leader in advanced genomics for precision oncology, specializes in personalized cancer management through innovative genomic testing. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting a 15% year-over-year increase in revenue to $84.6 million and a strategic investment from Merck to support its growth initiatives.
In the latest earnings report, Personalis showcased significant growth in its molecular testing segment, delivering 1,441 tests in the fourth quarter, a 52% increase from the previous quarter. The company also expanded its partnerships, including a multi-year extension with Moderna and a commercial agreement with Tempus AI, Inc. Despite a net loss of $81.3 million for the year, Personalis reduced its cash usage and secured a $50 million investment from Merck, enhancing its financial stability.
Key financial metrics reveal a mixed performance, with a 20% increase in revenue from pharma tests and services, while population sequencing revenue decreased by 21%. The company reported a net loss per share of $1.37, an improvement from the previous year’s $2.25 per share. Personalis’ cash reserves stood at $185 million, bolstered by strategic investments, positioning the company for future growth.
Looking ahead, Personalis anticipates revenue for 2025 to range between $80 to $90 million, with a focus on expanding its clinical studies and commercial capabilities. The company remains committed to its ‘Win in MRD’ strategy, aiming to drive growth through increased test volumes and strategic partnerships.