Personalis Q2 revenue rises 30%, beats estimates on expanded Medicare coverage
PSNL•Key financial details and outlook
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Revenue | $22.36 million | $16.78 million (6 analysts) |
| Q2 Net Loss | $31.68 million | |
| Q2 Income From Operations | -$33.59 million | |
| Q2 Loss Per Basic Share | $0.30 | |
| Q2 Pretax Loss | $31.68 million |
Personalis said it expects more than a 500% increase in clinical revenue over last year and expects continued growth in NeXT Personal adoption and reimbursement expansion.
The current average analyst rating on the shares is "buy," with 4 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell" recommendations.
Wall Street's median 12-month price target for Personalis, Inc. is $16.25, about 23.1% above its August 3 closing price of $13.20.
Q2 revenue rises, beats expectations
US genomics firm Personalis said second-quarter revenue rose 30% year over year, beating analyst expectations, as clinical test volume and clinical revenue surged on expanded Medicare coverage.
The company said it will not provide financial guidance due to its pending merger with Tempus AI.
Growth drivers in clinical and pharma testing
Clinical revenue growth was driven by expanded Medicare coverage for NeXT Personal, including new approvals for immunotherapy and breast cancer monitoring.
Clinical test volume surged 199% year over year and 33% sequentially to 10,384 tests, supporting higher clinical revenue.
