Personalis Inc

NASDAQ:PSNLUnited States

Nov 6, 2024

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• -- Earnings Flash (PSNL) PERSONALIS Reports Q3 Revenue $25.7M, from 4:02PM ET on Wednesday Nov 06, 2024 by MT Newswires

  4:02PM ET on Wednesday Nov 06, 2024 by MT Newswires
  Companies Mentioned: PSNL
  04:02 PM EST, 11/06/2024 (MT Newswires) -- ...

• *DJ Personalis 3Q Loss/Shr 64c >PSNL, from 4:01PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:01PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: PSNL

• Personalis Reports Third Quarter 2024 Financial Results, from 4:01PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:01PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: PSNL
  PERSONALIS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except share and per share data) Three Months Ended September 30, Nine Months Ended September 30, -------------------------- ------------------------------- 2024 2023 2024 2023 ------------ ------------ --------------- -------------- Revenue $ 25,709 $ 18,247 $ 67,814 $ 53,806 Costs and expenses Cost of revenue 16,964 14,766 45,539 40,803 Research and development 11,683 16,738 37,411 51,163 Selling, general and administrative 11,444 11,971 35,019 38,202 Lease impairment -- 5,565 -- 5,565 Restructuring and other charges -- -- -- 4,037 ---------- ---------- ---------- ---------- Total costs and expenses 40,091 49,040 117,969 139,770 ---------- ---------- ---------- ---------- Loss from operations (14,382) (30,793) (50,155) (85,964) Interest income 1,384 1,706 3,879 4,424 Interest expense (7) (15) (25) (101) Other income (expense), net (1) (26,081) 32 (18,544) 7 ---------- ---------- ---------- ---------- Loss before income taxes (39,086) (29,070) (64,845) (81,634) Provision for income taxes 3 28 14 78 ---------- ---------- ---------- ---------- Net loss $ (39,089) $ (29,098) $ (64,859) $ (81,712) ---------- ---------- ---------- ---------- Net loss per share, basic and diluted $ (0.64) $ (0.60) $ (1.19) $ (1.71) ---------- ---------- ---------- ---------- Weighted-average shares outstanding, basic and diluted 61,051,350 48,694,324 54,708,205 47,701,369 ---------- ---------- ---------- ---------- (1) Includes related party other expense of $26.0 million and $18.3 million for the three and nine months ended September 30, 2024, respectively, as a result of increases since December 31, 2023 in the fair value of the warrants issued to Tempus AI, Inc. (Tempus). PERSONALIS, INC. SUPPLEMENTAL REVENUE INFORMATION (unaudited) (in thousands) Three Months Ended Nine Months Ended September 30, September 30, ----------------------- ------------------------- 2024 2023 2024 2023 ----------- ---------- ----------- ------------ Pharma tests and services $ 15,698 $ 7,997 $ 38,707 $ 20,413 Enterprise sales 5,264 7,812 21,194 24,656 Population sequencing 4,431 2,400 7,211 8,405 Other 316 38 702 332 --- ------ ------ --- ------ ------ Total revenue $ 25,709 $ 18,247 $ 67,814 $ 53,806 --- ------ ------ --- ------ ------ PERSONALIS, INC. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share and per share data) September 30, 2024 December 31, 2023 -------------------- --------------------- Assets Current assets Cash and cash equivalents $ 75,800 $ 56,984 Short-term investments 67,851 57,195 Accounts receivable, net 13,474 17,730 Inventory and other deferred costs 8,489 10,474 Prepaid expenses and other current assets 4,663 4,361 --------------- -------------- Total current assets 170,277 146,744 Property and equipment, net 50,231 57,366 Operating lease right-of-use assets 16,816 17,852 Other long-term assets 2,563 3,137 --------------- -------------- Total assets $ 239,887 $ 225,099 =============== ============== Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 12,450 $ 14,920 Accrued and other current liabilities (1) 20,535 23,941 Contract liabilities 3,428 3,288 Short-term warrant liability -- 5,085 --------------- -------------- Total current liabilities 36,413 47,234 Long-term operating lease liabilities 35,601 38,321 Long-term warrant liability -- 4,942 Other long-term liabilities (2) 1,112 5,161 --------------- -------------- Total liabilities 73,126 95,658 --------------- -------------- Commitments and contingencies Stockholders' equity Preferred stock, $0.0001 par value -- 10,000,000 shares authorized; none issued -- -- Common stock, $0.0001 par value -- 200,000,000 shares authorized; 70,638,190 and 50,480,694 shares issued and outstanding, respectively 7 5 Additional paid-in capital 700,232 598,364 Accumulated other comprehensive income (loss) 87 (222) Accumulated deficit (533,565) (468,706) --------------- -------------- Total stockholders' equity 166,761 129,441 --------------- -------------- Total liabilities and stockholders' equity $ 239,887 $ 225,099 =============== ============== (1) Includes related party current liabilities of $1.7 million as of September 30, 2024. (2) Includes related party long-term liabilities of $0.6 million as of September 30, 2024.