Business
Sema4 Announces Preliminary Revenue for the Fourth Quarter and Fiscal Year 2021
Fourth quarter and fiscal year results are expected to exceed the high end of guidance for both total revenue and resulted test volume STAMFORD, Conn., Jan.
About this update from Genedx Holdings Corp.
[{"type":"text","content":"Fourth quarter and fiscal year results are expected to exceed the high end of guidance for both total revenue and resulted test volume\nSTAMFORD, Conn., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Sema4 (Nasdaq: SMFR), an AI-driven genomic and clinical data intelligence platform company, today announced preliminary revenue (unaudited) for the fourth quarter and fiscal year ended December 31, 2021 and provided a business update. Fourth Quarter 2021 Expectations Fourth quarter 2021 financial results are expected to exceed the high end of guidance provided on November 15, 2021 for both total revenues and resulted test volume. Management now expects fourth quarter 2021 total revenues in the range of $50-52 million vs. the prior guidance range of $46.6-49.6 million. Resulted test volume, excluding COVID-19 test volume, is now expected to exceed 80,000 tests vs. the prior guidance range of 73,000-79,000 tests. Fiscal Year 2021 Expectations Fiscal year 2021 results for total revenues are expected to exceed the previously announced guidance range of $201-204 million representing annual growth of at least 19%, excluding COVID-19. Resulted test volume, excluding COVID-19 test volume, is expected to be at least 288,000 tests representing annual growth of at least 39%. Cash and cash equivalents were approximately $400 million as of December 31, 2021. Sema4 plans to release its fourth quarter and fiscal year 2021 financial results in late March 2022. The expected quarterly and annual revenue results for 2021 included in this press release are being announced prior to the completion of review and audit procedures by Sema4’s independent registered public accounting firm and are therefore subject to adjustment. “I am very pleased to report that we made significant progress against our goals in the fourth quarter,” said Eric Schadt, PhD, Founder and Chief Executive Officer of Sema4. “Most importantly, Q4 revenue exceeded our targets both in the core business and COVID-19. In addition, we continue to systematically annotate and curate millions of patient records that fuel our Centrellis platform. As a result, we are entering 2022 with a rich pipeline of additional health system partners lined up and a growing pipeline of pharma collaborations.” Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of t...