MRD Business Profitability
The MRD business achieved profitability this quarter, delivering approximately $2 million in positive adjusted EBITDA, with a 42% year-over-year revenue growth.
clonoSEQ Revenue Growth
clonoSEQ revenue grew 57% year-over-year in the second quarter, driven by strong demand across all reimbursed indications.
Sequencing Gross Margin Improvement
Total company sequencing gross margin improved by 14 percentage points year-over-year to 64%.
Increased Full-Year Guidance
Full year MRD revenue guidance was raised to a range of $190 million to $200 million, up from the previous range of $180 million to $190 million.
Strong Cash Position
Cash burn for the quarter was approximately $11 million, a 36% improvement over the same period last year, ending with a solid cash position of $222 million.
Positive Clinical and Pharma Volume Growth
Delivered over 25,300 tests, up 37% versus prior year, with blood-based testing representing 44% of MRD tests, up 40% from a year ago.
NCCN Guidelines Update
NCCN guidelines for multiple myeloma were updated to strengthen support for ID testing at diagnosis, reducing barriers to MRD testing and helping drive volume.