Full Year and Q4 Revenue Beat
Q4 2025 revenue of $87.0M and full year 2025 revenue of $344.2M, which exceeded guidance.
Strong Overall Test Volume Growth
Total test report volume of 105,053 for 2025, up 37% year-over-year versus 2024.
TissueCypher Rapid Adoption
TissueCypher delivered 39,014 test reports in 2025 vs 20,956 in 2024, representing 86% growth; surpassed ~80,000 tests ordered to date; 2,082 new ordering clinicians in 2025 (up from 1,234 in 2024, ~69% increase); patient penetration ~11% exiting 2025.
DecisionDx-Melanoma Continued Momentum and Evidence Base
DecisionDx-Melanoma delivered 39,083 test reports in 2025, +9% year-over-year; 1,795 clinicians ordered for the first time in 2025; lifetime ordering clinicians nearing 17,000; ~58 peer-reviewed publications supporting clinical use; patient penetration ~31% exiting 2025.
AdvanceAD-Tx Early Launch Success
AdvanceAD-Tx launched on limited access late Nov 2025 to ~150 dermatology accounts; over half of initial accounts ordered within first five weeks and ~500 orders through mid-February; company expects immaterial revenue in 2026 and material contribution in 2027–2028.
Strategic M&A and Pipeline Progress
Acquisition of Previse (non-endoscopic cell collection device) with plan to start development study enrollment in Q2 2026 and expect preliminary data before end of 2026; collaboration with SciBase to initiate EIS PEN study for AD flares in Q2 2026 with preliminary data expected before year-end; company reiterates M&A as a growth tool with clear criteria.
Solid Cash Position and Positive Free Cash Flow
Cash, cash equivalents and marketable securities of $299.5M as of Dec 31, 2025; generated free cash flow of $28.3M in 2025 (net cash provided by operations $64.3M less capex $36M); net cash provided by operations in Q4 was $26.9M.
Guidance Reflects Adjusted Growth Expectation
2026 revenue guidance of $340M–$350M; company states this equates to mid- to high-teens growth over 2025 when excluding DecisionDx-SCC and IDgenetix revenue from both years, signaling management expects continued core-franchise growth.