Laboratory Services Revenue Growth
Laboratory services revenue reached nearly $84 million, with Precision Diagnostics up $3.4 million (7.3% sequentially) and $7.2 million (16.4% year-over-year). Biopharma was up $1 million (15.4% sequentially) and $3.3 million (83.4% year-over-year).
Therapeutic Development Advancements
FID-007 is progressing well in Phase II trials, showing a 51% overall objective response rate and improved progression-free survival of 7.8 months versus the historical 2.3 months. A total of 43 patients are enrolled with full data expected in 2026.
New Product Launches in Precision Diagnostics
Launch of ultrarapid whole genome sequencing service and expansion of Beacon carrier screening service to 1,000 genes, which aims to improve diagnostic yield and patient outcomes, particularly in the NICU.
Financial Performance and Guidance
The company raised its full-year 2025 revenue outlook to $325 million, representing a 15% growth year-over-year. Non-GAAP gross margins expected to exceed 40% for the year.