Personalis, Inc. reported preliminary fourth‑quarter 2025 results that showed revenue of $17 million to $18 million, up roughly 17‑18 % from the $14.5 million it generated in the third quarter. The company posted a net loss of $0.24 per share, a beat of $0.05 against the consensus estimate of a $0.29 loss, reflecting disciplined cost management amid a modest revenue increase.
Gross margin for the quarter fell to a range of 21 % to 23 %, down from 32 % in the full year 2024. The compression is largely attributable to strategic investments in clinical test volume that are intended to build reimbursement evidence and accelerate Medicare coverage, a move that is expected to lift margins once the volume and pricing benefits materialize.
Cash and liquidity remain robust, with the balance at $240 million at year‑end 2025, up from $185 million at the end of 2024. The strong cash position provides a two‑year runway to achieve Medicare reimbursement and reach cash‑flow breakeven, giving management flexibility to continue investing in growth initiatives.
The company secured Medicare coverage for its breast‑cancer surveillance test in the fourth quarter, effective retroactively from October 7 2025. This milestone unlocks a potential $20 billion market and is a key driver of the company’s long‑term revenue trajectory, as the coverage expands access to the NeXT Personal test for stage II and III patients.
Through its partnership with Tempus AI, Personalis met full‑year volume targets, performing 16,233 clinical tests in 2025—an increase of nearly 400 % over the previous year. CEO Chris Hall emphasized that the company’s “Win in MRD” strategy is gaining traction, noting that the combination of Medicare coverage and high test volume positions Personalis to capture a growing market share in minimal residual disease testing.
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