23andMe Holding Co. (NASDAQ: ME) reported Q3 EPS of ($0.21), $0.05 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $57 million versus the consensus estimate of $54.3 million.

GUIDANCE:

23andMe Holding Co. sees FY2022 revenue of $268-278 million, versus the consensus of $257.7 million.

• 23andMe is updating its FY2022 guidance following the inclusion of telehealth operations into its consumer business and the redemption of all outstanding warrants. The projected range for full year revenue for fiscal 2022, which will end on March 31, 2022, has been increased from $250 to $260 million to $268 to $278 million. The increase in projected revenue is primarily due to the addition of telehealth services to 23andMe’s consumer business. The projected range for full year net loss has decreased from $210 to $225 million to $205 to $220 million. The decrease in projected net loss is primarily due to the favorable effect of the warrant fair value adjustment following warrant redemption offset by the inclusion of telehealth operating expenses, integration and merger-related transaction costs. The projected range for full year adjusted EBITDA loss has increased from $143 to $158 million to $148 to $163 million as we expect telehealth net losses to be partially offset by other beneficial effects in our operations.

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