Slide 1: 2025 Q3 Business Update
2025 Q3 Business Update December 9, 2025
Slide 2: Disclaimer & Forward Looking Statement
Disclaimer & Forward Looking Statement 2025 Q3 Business Update 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 statement
Slide 3: Our 4 Pillars of Differentiation
Our 4 Pillars of Differentiation 2025 Q3 Business Update Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability Patented QCT™ technology Zero to $334M ARR* 70% gross margin Culture of fiscal discipline enabling single-molecule in 5 years & eff
Slide 4: Summary of Q3 Achievements
Summary of Q3 Achievements 2025 Q3 Business Update Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability • Two prenatal publications1,2 • Rapid test growth to • Robust ASP growth drove • Achieved 11.5% GAAP including the largest validation 162
Slide 5: Revolutionary smNGS Platform & Products
Revolutionary smNGS Platform & Products
Slide 6: Q3 Product Achievements: Prenatal
Pillar 1 — Q3 Product Achievements: Prenatal 2025 Q3 Business Update Published in Journal of Cystic Fibrosis Retrospective study of over 100,000 consecutive general-risk pregnant patients — the largest validation of any prenatal screening modality for cystic fibrosis CF1. Showed 100% sensitivity i
Slide 7: Q3 Product Achievements: Oncology
Pillar 1 — Q3 Product Achievements: Oncology 2025 Q3 Business Update Published in The Journal of Liquid Biopsy Superior performance in detecting clinically actionable alterations* Northstar Select found 51% more SNVs/indels and 109% more CNAs in a prospective head-to-head study where it was prospect
Slide 8: Scaleable Rapid Growth
Scaleable Rapid Growth
Slide 9: Our total test volume is rapidly increasing
Pillar 2 — Scaleable Rapid Growth 2025 Q3 Business Update Our total test Total Test Volume Accessioned Quarterly volume is rapidly increasing with 163K 51% YoY growth. 51% • Consistent growth & acceleration with larger health system adoptions † • No impact on our growth from competitor product laun
Slide 10: Exponential revenue growth: zero to $334M
Pillar 2 — Scaleable Rapid Growth 2025 Q3 Business Update Exponential Total GAAP Revenue Quarterly revenue growth: $83.5M zero to $334M* ARR in ~5 years. 117% • 25% QoQ increase in revenue • Accelerated growth in Q3 with exceptionally strong performance across every metric • Driven by rapid increas
Slide 11: Prenatal and Oncology GAAP Revenue Quarterly
Pillar 2 — Scaleable Rapid Growth 2025 Q3 Business Update Prenatal GAAP Revenue Quarterly Oncology GAAP Revenue Quarterly $74.8M* $8.7M 101% 664% Q3 Q3 * Includes revenue associated with clinical trial services
Slide 12: Superior Gross Margin Profile
Superior Gross Margin Profile
Slide 13: Our ASP is rapidly growing.
Pillar 3 — Superior Gross Margin Profile 2025 Q3 Business Update Our ASP is Overall ASP** rapidly growing. $501 • Signed 15 payor contracts and reached 235M in covered lives*. • More Medicaids loading & covering UNITY carrier panel 0449U * Represents number of individuals covered under contracts
Slide 14: COGS per test decreased slightly to $151.
Pillar 3 — Superior Gross Margin Profile 2025 Q3 Business Update COGS per test COGS Per Test Quarterly decreased slightly to $151. 10% Reduction by 10% YoY despite: $151 • Increasing shift to a higher proportion $127 of revenue from oncology, which has higher COGS per test • Higher stock-based com
Slide 15: 70% gross margin with continuing expansion.
Pillar 3 — Superior Gross Margin Profile 2025 Q3 Business Update 70% gross Gross Margin Quarterly margin* with $501 Overall ASP continuing $444 $455 rapid $384 $348 70% expansion. 57% 64% 65% Gross Margin 53% Overall COGS Per Test * For Q3 2025
Slide 16: GAAP Profitability
GAAP Profitability
Slide 17: Our 2025 Q3 performance continued our strong growth.
17 2025 Q3 Summary CONFIDENTIAL 2025 Q3 Business & PROPRIETARY Update Our 2025 Q3 performance continued our strong growth. Actual Actual Actual YoY QoQ 2024 Q3 2025 Q2 2025 Q3 Growth Growth Commentary Total Tests Delivered 108,523 144,690 165,000 52% 14% Overall ASP Per Test $348 $455 $501 44% 10% 1
Slide 18: Quarterly & Annual Guidance
Quarterly & Annual Guidance Projected Quarterly YoY Revenue Projected Annual YoY Revenue $293299M $8490M 9296% 86100% $153M $45M Positive GAAP operating income expected for Q4 2025 and FY 2025
Slide 19: Summary
19 Summary We are transforming healthcare: one molecule at a time, one patient at a time. LONG-TERM GOAL New publications Q3 outperformance on all supporting the key metrics - best superiority of our quarter over last year To build a tests and technology category-defining company and Continued growt
Slide 20: Thank you
BILLION TOle Thank you / -