NEW YORK – Personalis said Friday that it expects to report total revenue of $19.7 million for the fourth quarter of 2023, an increase of 18 percent from the $16.7 million it netted in the same period of 2022.
The firm said its preliminary calculations show revenue from pharma tests, enterprise sales, and other customers total an estimated $18.7 million for the quarter, compared with $15.8 million in Q4 2022. Enterprise revenues include residual disease test-associated payments from Natera of approximately $7.1 million, down from $8.2 million in the same quarter last year.
Personalis also expects to report about $1 million in revenue from the Million Veteran's Program, up from $900,000 in the fourth quarter of 2022. The company said it exited 2023 with about $114 million in cash, cash equivalents, and short-term investments.
For the full year, Personalis expects to report $73.5 million in total revenue, an increase of 13 percent from $65 million in 2022. This includes revenue from pharma tests, enterprise sales, and other customers of approximately $64.1 million and MVP revenue of $9.4 million.