Full year revenue of ~$84.6 million represents a 15% year-over-year increase

Cash balance of ~$185.0 million expected to provide runway to cash flow break-even

Personalis, Inc. (NASDAQ:PSNL), a leader in advanced genomics for precision oncology, today reported unaudited preliminary revenue for the fourth quarter and full year ended December 31, 2024 and preliminary cash balance.

Preliminary Full Year 2024 Revenue

• Revenue of approximately $84.6 million for the full year of 2024 compared with $73.5 million for the full year of 2023, an increase of 15%, and above the company's previous full year guidance range of $83.0 to $84.0 million
• Revenue from pharma tests and services, enterprise sales, and other customers of approximately $77.2 million for the full year of 2024 compared with $64.1 million for the full year of 2023, an increase of 20%, despite revenue from Natera decreasing 20% to approximately $25.4 million for the full year of 2024
• Revenue from population sequencing for the U.S. Department of Veterans Affairs Million Veterans Program (VA MVP) of approximately $7.4 million for the full year of 2024, compared with $9.4 million for the full year of 2023, a decrease of 21%

Preliminary Fourth Quarter Revenue, Cash Balance, and Clinical Volume

• Revenue of approximately $16.8 million for the fourth quarter of 2024 compared with $19.7 million for the fourth quarter of 2023, a decrease of 15%, primarily due to the expected decline in revenue from Natera and the VA MVP
• Revenue from pharma tests and services, enterprise sales, and other customers of approximately $16.6 million for the fourth quarter of 2024 compared with $18.7 million for the fourth quarter of 2023, a decrease of 11%, which includes the expected decrease in revenue from Natera of 41% to approximately $4.2 million for the fourth quarter of 2024
• Cash, cash equivalents, and short-term investments of approximately $185.0 million as of December 31, 2024; includes the $50 million strategic investment from Merck
• Delivered 1,441 total molecular tests in the fourth quarter of 2024, an increase of 52% compared with 945 tests delivered in the third quarter of 2024