Strong Revenue Growth
Q3 revenue reached $27.4 million, representing an 18% increase over the previous year, despite the strategic decision to forego the germline offering.
Positive Adjusted EBITDA
Q3 marked the second consecutive quarter of positive adjusted EBITDA at $1 million, following the first profitable quarter in Q2.
Significant Volume Growth
Total billable volume grew by 37% compared to the prior year, with liquid-based tests increasing by 65% and tissue-based tests by 18%.
Gross Margin Improvement
Gross margins improved to 65.2% from 61.2% in Q3 2024, driven by test mix and operational efficiencies.
Successful ExoDx Acquisition
The company successfully closed the ExoDx acquisition, expanding the sales organization and enhancing cross-selling opportunities.