Personalis Inc · Q4 2023 earnings

Briefing

Personalis' financial performance for Q4 2023 showed revenue growth, driven by pharma tests and enterprise sales, but resulted in a net loss due to increased operating expenses.

Personalis, Inc. reported an 18% increase in revenue for the fourth quarter of 2023, reaching $19.7 million compared to $16.7 million in the fourth quarter of 2022. Revenue growth was primarily driven by pharma tests, enterprise sales, and other customers, which increased to $18.7 million from $15.8 million in the prior year. However, the company reported a net loss of $26.6 million, or $0.54 per share, compared to a net loss of $31.1 million, or $0.67 per share, for the fourth quarter of 2022.

• Total revenue increased by 18% to $19.7 million compared to Q4 2022.
• Revenue from pharma tests, enterprise, and other customers grew to $18.7 million versus $15.8 million in Q4 2022.
• Net loss was $26.6 million, resulting in a loss per share of $0.54.
• Cash, cash equivalents, and short-term investments totaled $114.2 million as of December 31, 2023.

Headline financials

Revenue & EPS history

Personalis anticipates revenue between $18.0 to $19.0 million for Q1 2024, with pharma tests, enterprise sales, and other customers expected to generate $16.0 to $17.0 million, and population sequencing contributing approximately $2.0 million. For the full year 2024, the company projects revenue in the range of $73.0 to $75.0 million, with a net loss of approximately $80.0 million and cash usage of about $62.0 million.