Invitae (NYSE: NVTA), a leading medical genetics company, today announced preliminary unaudited fourth quarter and full-year 2022 revenue, cash burn and commercial metrics.

Preliminary, unaudited financial results and other metrics for 2022

• Generated revenue of approximately $516 million in 2022, or about a 12% increase from $460 million in 2021. Fourth quarter 2022 revenue was approximately $122 million, versus $126 million a year ago, which reflects a decline due to the exited businesses and geographies.
• Cash, cash equivalents, restricted cash and marketable securities were greater than $555 million as of December 31, 2022. Our cash burn in the fourth quarter was less than $80 million, which excludes an outflow of approximately $10 million related to realignment and an inflow of approximately $45 million related to the selected assets sale of the RUO kitted solutions. This represents a continued declining trend since the fourth quarter of 2021.
• Total active healthcare provider accounts of approximately 20,000, an increase of 8% from 2021.
• Active pharma and commercial partnerships grew to approximately 230, an increase of 29% in 2022, due to revenue growth from lab services, data services to pharmaceutical, health systems and other partners.
• Total patient population is more than 3.6 million with over 62% available for data sharing.

"Despite a challenging environment in 2022, we executed well against our realignment plan in the second half of the year, with continued improvements in our financial metrics and cash burn reduction. Overall, we are pleased with our progress and with the hard work across the organization that has driven these results," said Ken Knight, president and chief executive officer of Invitae. "The mission of Invitae has not changed, and we are committed to bringing genetics to mainstream medicine. Our company is also building on a new foundation grounded on achieving profitable growth. And as we move forward, we're excited about what lies ahead for our company, our partners and millions more patients. We're looking forward to our opportunities in 2023 and beyond, unlocking the value that Invitae holds."

Invitae has not completed preparation of its financial statements for the fourth quarter or full year 2022. The preliminary, unaudited results presented in this press release for the year ended December 31, 2022, are based on current expectations and are subject to adjustment. Actual results may differ materially from those disclosed in this press release. Invitae will report its full financial results and other metrics during its fourth quarter and year-end 2022 conference call in late February.

Invitae's Presentation at 41st Annual J.P. Morgan Healthcare ConferenceInvitae will present at the 41st Annual J.P. Morgan Healthcare Conference on Wednesday, January 11, 2023, at 12:00 p.m. Eastern Time / 9:00 a.m. Pacific Time. A live webcast of both the presentation and a Q&A session may be accessed at the following direct link or by visiting the investors section of the company's website at ir.invitae.com. Public listeners can access an audio and slide recording of the session, which will be available shortly after the conclusion of the presentation and Q&A session on the investors section of the company's website at ir.invitae.com.