NEW YORK – Personalis said this week that its third quarter revenues jumped 23 percent to $18.3 million from $14.9 million in the year-ago period. The Fremont, California-based precision oncology testing company reported $15.8 million in revenues from pharma tests, enterprise sales, and other customers in Q3, a 7 percent year-over-year increase. Enterprise customer revenue included revenue from Natera of $7.8 million in Q3 compared with $7.4 million a year ago. Revenue from population sequencing for the VA Million Veteran Program was $2.4 million in Q3 compared with none a year ago due to the fulfillment of a backlog after Q2 2022 and a deferred task order that was received after Q2 2022, Personalis said. The company incurred a Q3 net loss of $29.1 million, or $.60 per share, compared to $26.5 million, or $.58 per share, in the year-ago period. The firm finished Q3 with $72.2 million in cash and cash equivalents and $48.5 million in short-term investments. Personalis raised its full-year revenue guidance to a range of $73 million to $74 million from a previous range of $70 million to $72 million.
Sophia Genetics this week reported a 40 percent year-over-year increase in revenues for the third quarter of 2023. Revenues increased to $16.3 million from $11.6 million a year ago. Due to the continued adoption of the firm's Sophia DDM platform in clinical markets, analysis volume climbed to a record 79,784 analyses during the quarter, representing 28 percent growth from 62,276 analyses in Q3 2022. Sophia's net loss narrowed to $13.8 million, or $.21 per share, from a net loss of $23.3 million, or $.36 per share, in Q3 2022. The Swiss bioinformatics company ended the quarter with $132.8 million in cash and cash equivalents.
Standard BioTools this week reported that its third quarter revenues declined 1 percent to $25.4 million from $25.6 million a year ago. The firm's Q3 product revenue dipped 3 percent to $18.7 million from $19.3 million a year ago, while its service and other revenue edged up 6 percent to $6.7 million from $6.3 million. The company shaved its Q3 net loss to $20.9 million, or $.27 per share, from a net loss of $29.4 million, or $.37 per share, a year ago. Standard BioTools finished the quarter with $79.7 million in cash and cash equivalents and $49.2 million in short-term investments. In October, Standard BioTools and SomaLogic announced an all-stock merger, which is expected to close in the first quarter of 2024.
OraSure Technologies said this week that its third quarter revenues declined 23 percent year over year as COVID-19-related revenues fell 37 percent. For the three months ended Sept. 30, revenues dropped to $89.2 million from $116.5 million a year ago as COVID-19-related revenues shrank to $50.2 million from $79.9 million. Core revenues grew 7 percent to $39.0 million from $36.5 million in Q3 2022. Diagnostics revenues grew to $19.6 million from $12.3 million in the year-ago quarter, while molecular products were trimmed to $15.2 million from $15.8 million. Other products and service revenues increased to $3.2 million from $2.8 million, and molecular service revenues fell to $834,000 from about $2.0 million a year ago. COVID-19 molecular product revenues slid to $54,000 from $361,000. OraSure had net income of $11.2 million, or $.15 per share, for Q3 2023 compared to net income of $5.6 million, or $.08 per share, in Q3 2022. The firm lowered its R&D costs to $8.5 million from $10.1 million a year ago and cut its SG&A spending to $18.8 million from $29.0 million a year ago. OraSure had $217.5 million in cash and cash equivalents and $7.4 million in short-term investments at the end of Q3 2023. For Q4 2023, the company is guiding to revenues of between $71 million and $76 million, which includes core revenues of $33 million to $35 million.
Biodesix this week reported a 21 percent increase in Q3 revenues to $13.5 million from $11.1 million in the year-ago quarter, which included COVID testing revenue. Excluding COVID testing, which the company no longer provides, Q3 revenues grew 37 percent year over year driven by strong growth in lung diagnostics, primarily due to the continued adoption of its blood-based Nodify Lung nodule risk assessment tests, the company said. Biodesix trimmed its Q3 net loss to $10.9 million, or $.14 per share, from $13.7 million, or $.34 per share, a year ago. The firm used approximately 79.7 million shares to calculate per-share loss in the recently completed quarter compared to about 40.5 million in Q3 2022. The firm finished the quarter with $19.8 million in cash and cash equivalents. Biodesix said that it plans to draw down an additional $10 million from the second tranche of its $50 million term loan facility with Perceptive Advisors in the fourth quarter.
Enzo Biochem this week reported earnings for its fiscal year 2023. Revenues for the year totaled $31.1 million, down almost 5 percent from $32.6 million in fiscal year 2022. The company's net income for the year ended July 31, 2023, totaled $20.3 million, or $.41 per share, compared to a net loss of $18.3 million, or $.38 per share, in fiscal year 2022. In July of this year, the company divested its clinical laboratory operations and sold the assets of Enzo Clinical Labs for $113.3 million. As of July 31, Enzo had $82.4 million in cash and cash equivalents.
Cytek Biosciences this week reported a 19 percent year-over-year increase in third quarter revenues. For the three months ended Sept. 30, the Fremont, California-based cell analysis company reported $48.0 million in revenues compared to $40.5 million during the same period in 2022. Product revenues totaled $38.4 million, up from $36.4 million a year ago, while service revenues were $9.6 million, up from $4.1 million. Revenues included $6.8 million from the product lines the firm acquired from Luminex in February of this year. The firm reported a net loss for the quarter of $6.5 million, or $.05 per share, compared to net income of $1.6 million, or $.01 per share, in Q3 2022. R&D expenses climbed 29 percent during the quarter to $11.2 million from $8.7 million last year, while SG&A expenses jumped 33 percent to $22.4 million from $16.9 million. The increase in operating costs was driven by the increased headcount from the Luminex acquisition as well as increased personnel costs in general. Cytek ended the quarter with $163.6 million in cash and cash equivalents and $124.4 million in marketable securities. For full-year 2023, Cytek expects revenues in the range of $188 million to $192 million, representing 15 percent to 17 percent growth over 2022.
Waters this week reported $711.7 million in revenues for the third quarter, up a fraction of a percent from $708.6 million in Q3 2022. Instrument sales totaled $319.4 million, down 5 percent from $336.8 million last year; service revenues were $263.6 million, up 8 percent from $243.6 million; and chemistry revenues were $128.7 million, slightly up from $128.1 million a year ago. The company had net income of $134.6 million, or $2.28 per share, in Q3 compared to net income of $156.0 million, or $2.61 per share, a year ago. Waters ended the quarter with $337.3 million in cash, cash equivalents, and investments. The company expects Q4 revenues to be down between 3 percent and 6 percent, and non-GAAP EPS of $3.52 to $3.62. For full-year 2023, it anticipates revenues to be down 1 percent to flat, and non-GAAP EPS in the range of $11.65 to $11.75.