Personalis Reports Preliminary Fourth Quarter and Full Year 2022 Revenue
Fourth Quarter Highlights
- Preliminary revenue from biopharma and other customers is estimated to be
$15.8 million in the fourth quarter of 2022 compared with$15.4 million in the fourth quarter of 2021, and preliminary revenue from biopharma and other customers includes estimated revenue from Natera at$8.2 million in the fourth quarter of 2022
- Preliminary revenue from the
U.S. Department of Veterans Affairs Million Veterans Program (VA MVP) is estimated to be$0.9 million in the fourth quarter of 2022, which is initial revenue from the new contract for up to five-years awarded inSeptember 2022 , compared with$5.3 million in the fourth quarter of 2021
- Preliminary cash, cash equivalents, and short-term investments is estimated to be
$167.0 million as ofDecember 31, 2022
Full Year 2022 Revenue
- Preliminary revenue from biopharma and other customers is estimated to be
$56.6 million for the full year of 2022 compared with$39.8 million for the full year of 2021, a 42% increase; preliminary revenue from biopharma and other customers includes estimated revenue from Natera at$26.5 million for the full year of 2022
- Preliminary revenue from the VA MVP is estimated to be
$8.4 million for the full year of 2022, which includes$0.9 million from the new contract for up to five-years awarded inSeptember 2022 , compared with$45.7 million for the full year of 2021, a decrease of 82%; VA MVP unfulfilled orders were approximately$9.1 million as ofDecember 31, 2022 and remaining unfulfilled orders are expected to be recognized as revenue in the first-half of 2023, depending upon sample receipt volume and timing from the VA MVP
“We ended 2022 by exceeding our previous full year guidance range, driven by oncology revenue growth of 42% for the fiscal year,” said
The above information is preliminary and subject to Personalis’ normal quarter and year-end accounting procedures and external audit by the company's independent registered public accounting firm. In addition, these preliminary unaudited results are not a comprehensive statement of the company’s financial results for the year ended
About
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as “aim,” “continue to,” “expect,” “future,” “goal,” or “will” or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements regarding the company’s preliminary and estimated revenue for the fourth quarter of 2022 and cash position at
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PRELIMINARY REVENUE RESULTS (unaudited) |
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(in thousands) |
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Three Months Ended |
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Year Ended |
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2022 |
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2021 |
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2022 |
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2021 |
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(preliminary) |
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(preliminary) |
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VA MVP |
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$ |
887 |
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$ |
5,304 |
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$ |
8,443 |
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$ |
45,671 |
All other customers |
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15,834 |
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15,378 |
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56,603 |
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39,823 |
Total revenue |
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$ |
16,721 |
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$ |
20,682 |
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$ |
65,046 |
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$ |
85,494 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005881/en/
Investor Relations Contact:
investors@personalis.com
415-202-5678
Media Contact:
pr@personalis.com
650-752-1300
Source: