Slide 1: Q2 2026 Business Update
Q2 2026 Business Update August 5, 2026
Slide 2: Disclaimer & Forward Looking Statement
Disclaimer & Forward Looking Statement This presentation contains certain “forward-looking statementsˮ within the meaning of applicable Though we have attempted to identify important factors that could cause actual results to differ materially securities laws. These statements relate to future event
Slide 3: Our 4 Pillars of Differentiation
3 Our 4 Pillars of Differentiation Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability Patented QCT™ technology Zero to $438M ARR* 70%+ gross margin Culture of fiscal discipline enabling single-molecule in 6 years & efficient operations sensi
Slide 4: Summary of Q2 Achievements
4 Summary of Q2 Achievements Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability • Successful launch and • Consistent test • ASP growth to $551 per • Achieved $5.5M in GAAP reception of Unity Confirm volume growth to test, 21% YoY increase ope
Slide 5: Revolutionary smNGS Platform & Products
Revolutionary smNGS Platform & Products
Slide 6: Unity Confirm: Strong adoption to-date
6 Pillar 1 — Platform & Product Prenatal CONFIDENTIAL & PROPRIETARY LAUNCHED May 28 Unity Confirm: Strong adoption to-date ● Launched as a specialized follow-on to high-risk pregnancies identified on Unity Aneuploidy; captures and sequences intact circulating fetal cells, providing 100% fetal fractio
Slide 7: Unity Fetal Risk Screen: Panel Expansion
7 Pillar 1 — Platform & Product Prenatal CONFIDENTIAL & PROPRIETARY COMING Aug 17 Unity Fetal Risk Screen: Panel Expansion ● Expands the Unity Fetal Risk Screen offering to 130-genes, the largest NIPT panel for recessive conditions, leapfrogging competitive offerings. ● Increases the available marke
Slide 8: Peer-reviewed study validates Northstar Response for monitoring IO therapy
8 Pillar 1 — Platform & Product Oncology CONFIDENTIAL & PROPRIETARY PUBLISHED Jun 24 Peer-reviewed study validates Northstar Response for monitoring IO & IO-combination therapy Published in The Journal of Liquid Biopsy, in collaboration with Allegheny Health Network AHN. ● 142 patients with 750+ s
Slide 9: Northstar Select Panel Update and Northstar Origin Add-on
9 Pillar 1 — Platform & Product Oncology CONFIDENTIAL & PROPRIETARY LAUNCHING September 1 LAUNCHING September 1 Northstar Select Northstar Origin Panel Update Add-on Problem: There are recent and upcoming FDA approvals Problem: 3% of patients have cancer of unknown for new targeted therapies. primar
Slide 10: Scalable Rapid Growth
Scalable Rapid Growth
Slide 11: Total test volume grew 35% YoY
11 Pillar 2 — Scalable Rapid Growth Total test volume Test Volume Delivered Quarterly grew 35% YoY. 196K 35% • Total test volumes grew 35% YoY and 8000 tests sequentially. • We have continued our strong sequential growth adding 70 reps in H1, higher than the plan, due to the strength of the hirin
Slide 12: Record-speed Epic Aura integration
12 Pillar 2 — Scalable Rapid Growth CONFIDENTIAL & PROPRIETARY Record-speed Epic Aura integration ● Launched Epic Aura* platform in 5 months, a record speed for any laboratory to launch on Epic — opens up access to Health Systems ● Completed first Epic Aura health system integration in 2 weeks, fro
Slide 13: Laboratory expansion for oncology
13 Pillar 2 — Scalable Rapid Growth CONFIDENTIAL & PROPRIETARY Laboratory expansion for oncology ● Signed lease for an oncology production lab, Opening Dec 2027 Opening Q1 2028 62K sq ft, directly across from existing prenatal production lab in Union City, CA ● Build-out underway, with production ex
Slide 14: Prenatal and Oncology GAAP Revenue Quarterly
14 Pillar 2 — Scalable Rapid Growth CONFIDENTIAL & PROPRIETARY Prenatal GAAP Revenue Quarterly Oncology GAAP Revenue Quarterly $95.8M* $13.7M 56% 176% * Includes revenue associated with clinical trial services Percentage growth rates represent growth from Q2 2025 to Q2 2026
Slide 15: Rapid revenue growth: zero to $438M ARR in ~6 years
15 Pillar 2 — Scalable Rapid Growth Rapid revenue Total GAAP Revenue Quarterly growth: zero to $109.4M $438M* ARR in ~6 64% years. • 64% YoY revenue growth driven by rapid YoY increases both in tests delivered 35%) and ASP 21%. • Total revenues grew 8% QoQ excluding true-up revenue * Q2 2026 rev
Slide 16: Superior Gross Margin Profile
Superior Gross Margin Profile
Slide 17: Overall ASP grew 21% (excluding true-up)
17 Pillar 3 — Superior Gross Margin Profile Overall ASP grew Overall ASP* (excluding true-up). $551 21% • Overall ASP increased 21% YoY to $551, but declined $20 QoQ due to very high true-up revenue of $49 per test in Q1 vs $14 per test in Q2. • We held $10M of claims in Q2 for in-network implemen
Slide 18: Overall COGS per test was $161 in Q2
18 Pillar 3 — Superior Gross Margin Profile Overall COGS per Overall COGS Per Test Quarterly test was $161 in Q2. ● The overall COGS-per-test increased to $161 in Q2 from $152 in Q1 (and from $156 a year ago), $161 3% primarily due to a shift in the test volume mix towards oncology. ● Prenatal COGS
Slide 19: 70.5% gross margin: stable despite faster growth of oncology
19 Pillar 3 — Superior Gross Margin Profile 70.5% gross Gross Margin Quarterly margin: stable despite faster growth of oncology. 70.5% 5% • GM was relatively consistent, 70.5%, despite the faster growth of oncology, which has lower margins at its current state. GM is higher by 5 pp YoY due to high
Slide 20: GAAP Profitability
GAAP Profitability
Slide 21: Q2 2026 Financials
21 Q2 2026 Financials CONFIDENTIAL & PROPRIETARY Actual Actual Actual YoY Q2 2025 Q1 2026 Q2 2026 Growth Commentary Total Tests Delivered 145,000 188,000 196,000 35% Overall ASP per test (excluding true-up) $440 $522 $537 22% True-up (per test) $15 $49 $14 Overall ASP per test $455 $571 $551 21% Rev
Slide 22: Reiterating guidance of $450-$465M revenue & GAAP profitability
22 Guidance CONFIDENTIAL & PROPRIETARY Reiterating guidance of $450-$465M revenue & GAAP profitability Projections vs Actuals Historical Guidance Previous vs Current $450M $465M May & Aug 2026 Guidance 85% CAGR $430M$445M Mar 2026 Guidance Jan 2026 Guidance $305M $153M Actuals $72M Projections
Slide 23: We are transforming healthcare: one molecule at a time
23 Summary We are transforming healthcare: one molecule at a time, one patient at a time. Launching 130-gene Fetal Strong gross margin profile LONG-TERM GOAL Risk Screen with 70.5% GM Launching Northstar Origin To build a add-on to updated Northstar Select category-defining Continued profitability ac
Slide 24: Thank you.
BILLION TO[e Thank you.
Slide 25: EBITDA Reconciliation
25 Appendix CONFIDENTIAL & PROPRIETARY EBITDA Reconciliation Q2 2025 Q1 2026 Q2 2026 Net Income Loss $0.2M $18.0M $8.1M Provision for Income Taxes $0.0M $0.5M $0.5M Interest Income $1.5M $4.6M $4.7M Interest Expense $0.0M $0.0M $0.0M Depreciation and Amortization $1.7M $1.7M $1.8M EBIT
Slide 26: Adjusted EBITDA Reconciliation
26 Appendix CONFIDENTIAL & PROPRIETARY Adjusted EBITDA Reconciliation Q2 2025 Q1 2026 Q2 2026 Net Income Loss $0.2M $18.0M $8.1M Provision for Income Taxes $0.0M $0.5M $0.5M Interest Income $1.5M $4.6M $4.7M Interest Expense $0.0M $0.0M $0.0M Depreciation and Amortization $1.7M $1.7M $