Personalis, Inc. (NASDAQ: PSNL) reported Q4 EPS of ($0.34), $0.05 worse than the analyst estimate of ($0.29). Revenue for the quarter came in at $20.2 million versus the consensus estimate of $20.07 million.

• Revenues were $20.2 million in the three months ended December 31, 2020, up 11% from $18.2 million in the same period of the prior year.
• Gross margin was 30.1% in the three months ended December 31, 2020, compared with 36.2% in the same period of the prior year.
• Operating expenses were $19.4 million in the three months ended December 31, 2020, compared with $13.8 million in the same period of the prior year.
• Net loss was $13.3 million in the three months ended December 31, 2020 and net loss per share was $0.34 based on a weighted-average basic and diluted share count of 39.0 million, compared with a net loss of $6.6 million and a net loss per share of $0.21 on a weighted-average basic and diluted share count of 31.2 million in the same period of the prior year.
• Cash, cash equivalents, and short-term investments were $203.3 million as of December 31, 2020.

“I’m proud to say that we were able to report record revenue once again this quarter and achieved our first $20 million revenue quarter, despite the impact from the COVID-19 pandemic. Biopharma revenue was strong and was a record high as some customers pushed to complete projects before the end of the year,” said John West, Chief Executive Officer. “Recently, we announced a partnership with Natera that further validates our NeXT platform as a best-in-class tissue-sequencing front end, capable of detecting mutations in cancer that conventional exomes often miss. It also complements our whole exome liquid biopsy offering that we launched in August 2020 and NeXT Personal, our Minimal Residual Disease (MRD) offering that we expect to launch in 2021, providing Personalis with access to three distinct areas in the rapidly growing cancer monitoring market.”

GUIDANCE:

Personalis, Inc. sees Q1 2021 revenue of $20.3 million.

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