On August 5, 2025 Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, reported financial results for the second quarter ended June 30, 2025, and recent accomplishments of its "Win-in-MRD" strategy (Press release, Personalis, AUG 5, 2025, View Source [SID1234654792]):
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Second Quarter 2025 and Recent Business Highlights
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Clinical Adoption Acceleration: Delivered 3,478 clinical tests in the second quarter, a 59% sequential increase over Q1 2025, demonstrating accelerating physician adoption of the NeXT Personal platform
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Commercial Partnership Expansion: Broadened the strategic collaboration with Tempus AI, Inc. (Tempus) to add colorectal cancer, a major new indication, to the exclusive commercialization agreement, positioning Personalis to win in this attractive market
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World-Class Clinical Evidence Generation: Presented pivotal data at the 2025 ASCO (Free ASCO Whitepaper) Annual Meeting, including results from the PREDICT and SCANDARE studies showing NeXT Personal’s ability to predict therapy response in breast cancer. Notably, nearly half of all positive detections were found in the ultra-sensitive range
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Clinical Utility Demonstration: Additional data presented at ASCO (Free ASCO Whitepaper) from the Phase 3 CALLA trial in partnership with AstraZeneca showed NeXT Personal detected cervical cancer progression up to 16 months earlier than standard imaging
"The results of our "Win-in-MRD" strategy are clear, with an impressive 59% sequential growth in our clinical test volume," said Chris Hall, Chief Executive Officer and President of Personalis. "This powerful adoption trend is fueled by a continuous flow of compelling clinical data, like our recent landmark ASCO (Free ASCO Whitepaper) presentations, which prove the unique value of our ultra-sensitive MRD platform in guiding patient care. Steady recognition and growth in the use of our platform continues to support our strategy as we navigate the temporary headwinds in the biopharma sector which have affected our current results. Our fundamental growth engine is accelerating, keeping us firmly on track to achieve our most critical strategic objectives for 2025, including securing Medicare coverage for two indications."
Second Quarter 2025 Financial Results Compared with 2024
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Revenue of $17.2 million for the second quarter of 2025 compared with $22.6 million, a decrease of 24%, primarily due to the expected decline of $5.6 million in revenue from Natera, and a decrease in revenue from pharma tests and services, and other customers of $2.1 million, partially offset by an increase in population sequencing revenue of $2.0 million
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Pharma tests and services, and other customers of $11.1 million for the second quarter of 2025 compared with $13.2 million, a decrease of 16%
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Population sequencing of $3.3 million for the second quarter of 2025 compared with $1.3 million, an increase of 158%
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Gross margin of 27.6% for the second quarter of 2025 compared with 35.6%, a decrease of 8.0% primarily due to lower revenue volume, customer mix, and increased unreimbursed clinical test costs
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Net loss of $20.1 million, and net loss per share of $0.23 based on a weighted-average basic and diluted share count of 88.5 million in the second quarter 2025, compared with a net loss of $12.8 million, and net loss per share of $0.24 based on a weighted-average basic and diluted share count of 52.4 million
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Cash, cash equivalents, and short-term investments of $173.2 million as of June 30, 2025; cash usage of $13.2 million from operations and capital equipment additions in the second quarter of 2025
Third Quarter and Full Year 2025 Outlook
Personalis expects the following for the third quarter of 2025:
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Total company revenue to be in the range of $12.0 to $14.0 million
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Revenue from pharma tests and services, and all other customers to be in the range of $11.0 to $13.0 million
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Revenue from population sequencing and enterprise sales of approximately $1.0 million
Personalis now expects the following for the full year of 2025 (updated guidance):
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Total company revenue in the range of $70 to $80 million (reduced from $80 to $90 million)
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Revenue from pharma tests and services, and all other customers in the range of $52 to $58 million (reduced from $62 to $64 million); the lower range is due to variability with biopharma projects and timing of sample receipts
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Revenue from population sequencing and enterprise sales in the range of $15 to $16 million
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Revenue from clinical tests reimbursed in the range of $3 to $6 million (narrowed range from $3 to $10 million)
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Gross margin in the range of 22% to 24%, which is lower than the 32% gross margin for the full year of 2024 as we invest to drive clinical use of NeXT Personal ahead of reimbursement
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Net loss of approximately $85 million (increased from $83 million)
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Cash usage of approximately $75 million, which is an increase from the $47 million used in the full year of 2024 primarily due to investments in the next phase of our "Win-in-MRD" strategy, including growing test volume, expanding clinical evidence generation, and investing in commercial capabilities to drive growth
Webcast and Conference Call Information
Personalis will host a conference call to discuss the second quarter financial results, as well as plans for 2025, after market close on Tuesday, August 5, 2025, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time. The conference call can be accessed live by dialing 877-451-6152 for domestic callers or 201-389-0879 for international callers. The live webinar can be accessed at View Source A replay of the webinar will be available shortly after the conclusion of the call and will be archived on the company’s website.