PSNL - Personalis beats Q2 top and bottom line estimates; initiates Q2 and updates FY23 outlook

2023-08-08 17:04:02 ET

• Personalis press release ( NASDAQ: PSNL ): Q2 GAAP EPS of -$0.50 beats by $0.04 .
• Revenue of $16.7M (-8.2% Y/Y) beats by $0.21M .
• Cash, cash equivalents, and short-term investments of $137.2 million as of June 30, 2023.

• Third Quarter and Full Year 2023 Outlook:

  Personalis expects the following for the third quarter of 2023:

  • Total company revenue of approximately $17 million vs. consensus of $17.76M.
  • Revenue from pharma tests, enterprise sales, and other customers of approximately $14 million, and revenue from population sequencing of approximately $3 million

  Personalis expects the following for the full year of 2023:

  • Total company revenue in the range of $70 million to $72 million  vs. consensus of $69.45M.
  • Revenue from pharma tests, enterprise sales, and all other customers in the range of $61 million to $63 million, and revenue from population sequencing of approximately $9 million
  • Net loss of approximately $103 million reduced from $113 million in 2022 due to realization of headcount reduction savings, partially offset by investments in clinical evidence generation and non-cash depreciation expense for the new facility
  • Cash usage of approximately $70 million, reduced from $119 million in 2022

For further details see: