Strong Q4 and FY Revenue Growth
Q4 2025 total revenue of $108.4M, up 25% year-over-year; full year 2025 revenue of $379.8M, up 14% year-over-year.
Testing Volume and Testing Services Momentum
Q4 testing volume ~53,000 tests, up 17% year-over-year; Q4 Testing Services revenue $78.4M (+23% YoY). Full year testing volumes ~200,000, up 14% and Testing Services revenue $274.5M (+10% YoY).
Improved Cash Collection and Receivables Metrics
Full year 2025 cash collections $405.6M, up 32% YoY; Q4 collections $115.8M, up 37% YoY. Accounts receivable reduced by $22.5M year-over-year and DSO improved from 71 to 41 days (42% improvement).
Healthy Gross Margins and Profitability Progress
Q4 non-GAAP gross profit $74.3M (68.5% gross margin). Full year gross margin ~69.3%, consistent year-over-year. Full year 2025 adjusted EBITDA $31.7M, up 14% YoY.
Product and Regulatory Milestones
Launched AlloSure Heart for Pediatrics, Alisure Plus (AI kidney risk model), HistoMAP Kidney tissue-based classifier; launched AlloSeq TX11 and SCOR 7; achieved IVDR certification for AlloSeq TX and QType in Europe.
Compelling Cell Therapy (Allaheme) Clinical Data
ACROBAT results: Allaheme detected relapse a median 41 days earlier, with 85% sensitivity and 92% specificity; positive 6-month result associated with a 12-fold higher relapse risk. CLIA readiness targeted in 2026 with commercial introduction planned for early 2027.
Patient & Digital Solutions and Lab Products Acceleration
Q4 Patient & Digital Solutions revenue $16.8M (+47% YoY); Q4 Lab Products revenue $13.3M (+17% YoY). Full year Patient & Digital Solutions revenue $56.9M (+31% YoY); Lab Products $48.4M (+19% YoY).
Strong Balance Sheet and Share Repurchases
Ended year with $201.4M in cash, cash equivalents, and marketable securities and no debt. Repurchased $88.0M of common stock in 2025 (5.8M shares) and an additional $12.0M in Q4.