Personalis, Inc. (PSNL) Misses Q1 EPS by 4c, Revenues Beat

Personalis, Inc. (NASDAQ: PSNL) reported Q1 EPS of ($0.29), $0.04 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $19.2 million versus the consensus estimate of $17.2 million.

First Quarter Highlights

• Reported record revenues of $19.2 million in the first quarter of 2020 versus $14.1 million in the first quarter of 2019, an increase of 36%
• A total of 26 customers have placed orders for NeXT as of March 31, 2020, with 7 of those customers placing their orders in the first quarter of 2020
• Received a new order outside of oncology to deliver neoantigen prediction, which will leverage the Company’s proprietary technology platform

“I’m proud to say that we were able to report record revenues once again this quarter, in spite of the initial impact from the COVID-19 pandemic, and continued to see strong ordering levels from both our existing and new customers,” said John West, Chief Executive Officer. “Also, while our laboratory operations have been scaled down due to the COVID-19 shelter-in-place orders, and will be at least through May, we feel well-positioned to work through our VA MVP samples and also service our biopharma customers when they are able to send us their samples.”

Outlook and COVID-19

Due to uncertainty surrounding the COVID-19 pandemic, Personalis will not provide an outlook for fiscal 2020 at this time, and will plan to give an update during its second quarter earnings announcement and press release, to the extent practicable, based on available information at that time.

For earnings history and earnings-related data on Personalis, Inc. (PSNL) click here.

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