Business
Personalis Reports Preliminary Fourth Quarter 2020 Revenue
MENLO PARK, Calif.--(BUSINESS WIRE)-- Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for population sequencing and cancer, today reported
About this update from Personalis, Inc.
[{"type":"text","content":" MENLO PARK, Calif.--(BUSINESS WIRE)--\nPersonalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for population sequencing and cancer, today reported unaudited preliminary revenue for the fourth quarter and full year ended December 31, 2020.\n\nPersonalis estimates revenue of approximately $20.2 million for the fourth quarter of 2020 compared with $18.2 million in the fourth quarter of 2019, representing an increase of 11%. For the full year 2020, revenue is estimated to be approximately $78.6 million compared with $65.2 million for 2019, representing an increase of 21%.\n\nFourth Quarter Highlights\n\n\nPreliminary revenue from biopharma and all other customers of an estimated $7.6 million in the fourth quarter of 2020 compared with $4.4 million in the fourth quarter of 2019, a 73% increase\n\n\nPreliminary revenue from the U.S. Department of Veterans Affairs Million Veterans Program (VA MVP) of an estimated $12.6 million in the fourth quarter of 2020 compared with $13.8 million in the fourth quarter of 2019, a decrease of 9%\n\n\nPreliminary cash, cash equivalents, and short-term investments were estimated to be $203 million as of December 31, 2020\n\n\nA total of 45 customers have placed orders for NeXT as of December 31, 2020, with 6 of those customers placing their first orders in the fourth quarter of 2020\n\n\nAchieved milestone of completing more than 100,000 whole human genomes sequenced under the VA MVP contract\n\n\nLaunch of SHERPA™ and NEOPS™ (neoantigen prediction capability) in the fourth quarter of 2020\n\n\n“I’m proud to say that we were able to report record revenue once again this quarter and achieved our first $20 million revenue quarter, despite the impact from the COVID-19 pandemic. Biopharma revenue was strong and customer orders were once again above revenue reported,” said John West, Chief Executive Officer. “In addition, we have several customers that have placed orders for our liquid biopsy offering, which we expect will be an important driver of growth in the future.”\n\nThe 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.\n\nWebcast and Conference Call Information\n\nPersonalis will issue a press release with final financial results and host a conferenc...