Personalis, Inc. (PSNL) Tops Q4 EPS by 4c, Revenues Beat; Withdraws Previous FY20 Guidance due to COVID-19

Personalis, Inc. (NASDAQ: PSNL) reported Q4 EPS of ($0.21), $0.04 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $18.2 million versus the consensus estimate of $17.81 million.

Fourth Quarter and Full Year 2019 Highlights

Reported record revenues of $18.2 million in the fourth quarter and $65.2 million for the full year of 2019, representing a 38% and 73% increase versus $13.2 million in the fourth quarter and $37.8 million for the full year 2018

A total of 19 different customers placed orders for NeXT during 2019, with 9 of those customers placing their orders in the fourth quarter of 2019

Launched NeXT Dx Test, a diagnostic test for biopharmaceutical customers to utilize in clinical trials

“We are encouraged by the customer adoption and ramp of new orders for our NeXT platform, with orders exceeding revenues once again this quarter,” said John West, Chief Executive Officer. “With the recent uptick in orders, as well as our broadening product offerings, which now includes diagnostic capabilities and with our liquid biopsy to be launched with customers this year, we expect revenues from biopharmaceutical customers to grow increasingly through the latter half of 2020.”

Outlook and COVID-19

Due to uncertainty surrounding the COVID-19 pandemic, Personalis is withdrawing previous 2020 guidance and will provide an updated outlook for 2020 during its first 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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