Business
Sema4 Reports Second Quarter 2021 Financial Results and Business Highlights
85% test-volume growth (excluding COVID-19 tests) compared to same period in 2020 Recorded 56% growth in total revenue of $46.9 million Expanded health system
About this update from Genedx Holdings Corp.
[{"type":"text","content":"85% test-volume growth (excluding COVID-19 tests) compared to same period in 2020 Recorded 56% growth in total revenue of $46.9 million Expanded health system partnerships to include NorthShore University, AdventHealth, and Avera Health Commitment to 2023 target of ~$500m in total revenue Sema4 to host conference call today at 4:30 p.m. ET STAMFORD, Conn., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Sema4 Holdings Corp. (Nasdaq: SMFR) (“Sema4”), an AI-driven genomic and clinical data intelligence platform company, today reported the financial results for the second quarter ended June 30, 2021 of Mount Sinai Genomics, Inc. d/b/a Sema4, Sema4’s operating entity prior to the business combination, and provided an update on key strategic and operational initiatives. “Becoming a public company last month marked a transformative step towards delivering on our long-term mission to combine genomic and clinical data in a precision medicine model to improve the standard of care for patients,” said Eric Schadt, Ph.D., Founder and Chief Executive Officer of Sema4. “The business platform is similarly purpose built, driving a virtuous cycle of ingesting data, delivering differentiated insights to support clinicians, researchers, and patients, which in turn drives more engagement, more interactions, and generates more data to fuel the cycle.” “With a deep balance sheet, we are rapidly expanding our core reproductive health and emerging oncology businesses, and believe as the size and scale of Sema4’s health intelligence platform grows, so will its potential value. In that regard, we are excited to announce three new health system partnerships in 2021 thus far,” Dr. Schadt continued. “These are critical proof points in our model and we expect the proceeds from our recent merger to accelerate our ability to fuel organic growth through our rapid investment in infrastructure, people, technology, and sales, and drive increased capabilities and market share through the acquisition of complementary businesses. Isaac Ro, Chief Financial Officer of Sema4, added: “Volume growth is strong and we remain confident in our long-term goal of delivering $500 million in 2023 revenue as we partner with health systems, expand the menu of offerings, and scale the business.” Second Quarter & Recent Highlights Resulted 71,702 diagnostic tests in the second quarter, excluding C...