Slide 1: Business Update and Fourth Quarter and FY 2020 Financial Results
Business Update and Fourth Quarter and FY 2020 Financial Results March 18, 2021 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical fa
Slide 3: Q4 2020 & Other Recent Corporate Highlights
Q4 2020 & Other Recent Corporate Highlights Continued to increase our INN position, reaching 146 M covered lives ASPs of core products returned to growth in Q4 2020, and Q1 to date Introduced key programs aimed at improving customer experience and revenue cycle management Completed analytical and cl
Slide 4: Overall volumes stabilizing in Q4
Overall volumes stabilizing in Q4 Q4 overall monthly average volumes stabilized Increase in % of NIPT tests for average risk vs. high risk Strong growth in new carrier screening tests; represent 80% of our overall carrier screening Monthly Average Volumes (thousands) COVID-19 Tests
Slide 5: Expecting Stronger Volume Growth in 2021
Expecting Stronger Volume Growth in 2021 Strong History of Volume Growth Test Volume (Thousands) 79 75 84 COVID-19 Tests2 Volume for Innatal, Preparent, Riscover tests Testing conducted by Avero Diagnostics utilizing third-party tests that have received EUA from the FDA
Slide 6: Expanding the In-Network Footprint
Expanding the In-Network Footprint In-Network Lives – Progenity (millions) 2019 2020 Additions + + + 2019 Added 2.5 million regional plan covered lives in Q3/Q4 Expanding government and commercial payer coverage for average risk NIPT Continuing discussions for INN contracts with national and other r
Slide 7: R&D Pipeline Update
R&D Pipeline Update
Slide 8: Preeclampsia Rule-Out Test: Preecludia
Preeclampsia Rule-Out Test: PreecludiaTM Innovative Test to Address Unmet Need Henderson JT, et al. Preeclampsia Screening: Evidence Report and Systematic Review for the US Preventive Services Task Force. JAMA. 2017 Apr 25;317(16):1668-1683. Ananth CV, et al. Pre-eclampsia rates in the United States
Slide 9: Innovative Single-Molecule Counting Platform: Next-Generation NIPT
Innovative Single-Molecule Counting Platform: Next-Generation NIPT First Application COST EFFECTIVENESS QUALITY RESULTS Maintain premium clinical value and reliability FASTER TURNAROUND TIME Potential to set a new competitive benchmark in the market Cost effective chemistry improves COGS Q3: Achieve
Slide 10: GI Precision Medicine Programs advancing toward the clinic
Diagnostics GI Precision Medicine Programs advancing toward the clinic and progressing partnership Oral Biotherapeutics LOCALIZE SAMPLE PRESERVE RECOVER ANALYZE LEAD INDICATION SIBO: >100 MILLION PATIENT VISITS ANNUALLY Key assay accuracy data presented at ACG 2020 Full function preclinical s
Slide 11: Fourth Quarter Financial Results
Fourth Quarter Financial Results
Slide 12: Q4 Revenues
Q4 Revenues Q4 2020 revenues before accruals relatively flat compared to Q3, consistent with prior guidance Improving core products ASPs Maintaining 2021 overall revenue guidance range Revenue (millions) Illustrates $10.7M revenue reserve
Slide 13: Financial Overview
Financial Overview $ in millions ©2020 Progenity, Inc. All rights reserved. Includes $10.7M reserve for estimated future payor settlements Included $13.8M expense related to change in fair value of derivative liability Consists principally of $168.5M convertible notes debt 1 1 3 2
Slide 14: Maintaining 2021 Guidance
Maintaining 2021 Guidance Return to strong growth in 2021: Expecting up to approximately 30% revenue growth1 Expecting up to approximately 16% core volume growth4 Actively managing SG&A costs: Ensure alignment with topline profile Maintaining disciplined R&D spend: Incremental investments stage-gate
Slide 15: Potential 2021 Catalysts
Potential 2021 Catalysts Continue our INN transition and expand covered lives access to our portfolio Expected increased penetration into NIPT average risk market as payer coverage and reimbursement improves Continue operational improvements in revenue cycle management to maximize revenues/ASP Antic
Slide 16: Q&A Session
16 Q&A Session