Advanced Genomics Platform for Next-Generation Cancer Therapies Personalis® Investor Presentation August 2021 Forward-Looking Statements This presentation and the accompanying oral presentation contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this presentation, including statements as to future results of operations, financial condition, business strateg ...

Personalis, Inc. (NASDAQ:PSNL) Q2 2021 Earnings Conference Call August 4, 2021 5:30 PM ET Company Participants Caroline Corner – Investor Relations John West – President and Chief Executive Officer Aaron Tachibana – Chief Financial Officer Conference Call Participants Kevin DeGeeter – Oppenheimer Swayampakula Ramakanth – H.C. Wainwright Mark Massaro – BTIG Doug Schenkel – Cowen Mike Matson – Needham Patrick Donnelly – Citi Operator Good day, ladies and gentlemen, and welcome to the Personalis Second Quarter ...

[PART I—FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Personalis, Inc.'s unaudited condensed consolidated financial statements as of June 30, 2021, covering balance sheets, statements of operations, comprehensive loss, stockholders' equity, and cash flows [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides a snapshot of the company's financial position, detailing assets, liabilities, and equity as of specific dates Balance Sheet Highlights (in thousands) | Account | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $70,080 | $68,525 | | Short-term investments | $258,827 | $134,765 | | Total current assets | $354,309 | $220,719 | | **Total assets** | **$383,340** | **$244,842** | | **Liabilities & Equity** | | | | Total current liabilities | $34,087 | $40,636 | | **Total liabilities** | **$44,593** | **$49,897** | | **Total stockholders' equity** | **$338,747** | **$194,945** | - Total assets increased significantly from **$244.8 million** at the end of 2020 to **$383.3 million** as of June 30, 2021, primarily driven by an increase in short-term investments following a follow-on equity offering[15](index=15&type=chunk)[38](index=38&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents the company's financial performance over specific periods, detailing revenues, expenses, and net loss Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $21,670 | $19,495 | $42,551 | $38,656 | | Cost of revenue | $13,502 | $14,823 | $26,956 | $29,945 | | Research and development | $11,687 | $6,465 | $21,183 | $12,855 | | Selling, general and administrative | $11,428 | $7,705 | $21,849 | $14,979 | | Loss from operations | $(14,947) | $(9,498) | $(27,437) | $(19,123) | | **Net loss** | **$(14,953)** | **$(9,255)** | **$(27,357)** | **$(18,394)** | | Net loss per share | $(0.34) | $(0.29) | $(0.63) | $(0.58) | - Revenue increased for both the three and six-month periods ended June 30, 2021, compared to the prior year, but net loss also widened significantly due to substantial increases in Research and Development and Selling, General and Administrative expenses[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities over specific periods Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(37,674) | $(23,997) | | Net cash used in investing activities | $(129,649) | $(7,650) | | Net cash provided by financing activities | $168,859 | $1,644 | | **Net change in cash and cash equivalents** | **$1,555** | **$(30,004)** | - Financing activities provided **$168.9 million** in cash, primarily from a public offering (**$162.3 million** net), which offset cash used in operations and significant purchases of available-for-sale debt securities in investing activities[30](index=30&type=chunk)[154](index=154&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and additional information supporting the condensed consolidated financial statements, clarifying accounting policies and significant transactions - The company's principal business is providing sequencing and data analysis services for cancer therapy development and population sequencing initiatives, with the U.S. and Europe as primary markets[31](index=31&type=chunk) - In January 2021, the company completed a follow-on equity offering, raising net proceeds of approximately **$162.3 million** after deducting underwriting discounts, commissions, and offering costs[38](index=38&type=chunk)[115](index=115&type=chunk) Significant Customer Revenue Concentration | Customer | Revenue % (Q2 2021) | Revenue % (H1 2021) | | :--- | :--- | :--- | | VA MVP | 62% | 63% | | Pfizer Inc. | 15% | 14% | - Contract liabilities decreased from **$21.0 million** at year-end 2020 to **$11.5 million** as of June 30, 2021, with the company expecting to recognize the substantial majority of its **$16.8 million** in contracted not recognized revenue within the next quarter[73](index=73&type=chunk)[74](index=74&type=chunk) - Total stock-based compensation expense nearly doubled to **$6.7 million** for the first six months of 2021, up from **$3.1 million** in the same period of 2020[106](index=106&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q2 and H1 2021 financial performance, noting revenue growth from biopharmaceutical demand, increased operating expenses leading to a wider net loss, strong liquidity, and ongoing COVID-19 impacts [Overview](index=23&type=section&id=Overview) This section provides a high-level introduction to Personalis, its core business, key customer relationships, recent financing activities, and the impact of the COVID-19 pandemic - Personalis is a cancer genomics company whose NeXT Platform provides comprehensive molecular data on all **~20,000** human genes to biopharmaceutical customers[113](index=113&type=chunk) - The company's largest customer is the U.S. Department of Veterans Affairs' Million Veteran Program (VA MVP), for which it delivered the **125,000th** whole human genome sequence in June 2021, with cumulative task orders totaling approximately **$176 million**[113](index=113&type=chunk) - The company raised net proceeds of **$162.3 million** from a follow-on equity offering in January 2021[115](index=115&type=chunk) - The COVID-19 pandemic has impacted operations by disrupting business, slowing R&D, affecting supply chains, and delaying sample receipts from customers, including the VA MVP[116](index=116&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) This section analyzes the company's revenue performance by customer type and explains changes in cost of revenue, research and development, and selling, general and administrative expenses Revenue by Customer Type (in thousands) | Customer Type | Q2 2021 | Q2 2020 | Change | H1 2021 | H1 2020 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | VA MVP | $13,507 | $14,750 | (8%) | $26,717 | $29,506 | (9%) | | All other customers | $8,163 | $4,745 | 72% | $15,834 | $9,150 | 73% | | **Total revenue** | **$21,670** | **$19,495** | **11%** | **$42,551** | **$38,656** | **10%** | - Revenue from 'All other customers' grew **72%** in Q2 2021, driven by strong demand for NeXT Platform products from large pharmaceutical customers, with NeXT Platform product revenue exceeding **$4.5 million** in Q2 2021, up from **$2.6 million** in Q2 2020[134](index=134&type=chunk) - Cost of revenue decreased **9%** in Q2 2021 and **10%** in H1 2021, primarily due to a favorable customer mix (higher-margin non-VA MVP orders) and improved laboratory efficiencies[136](index=136&type=chunk)[137](index=137&type=chunk) - R&D expenses increased **81%** in Q2 2021, driven by a **$3.6 million** increase in personnel-related costs from increased headcount and a **$1.0 million** increase in sample processing for new product development[136](index=136&type=chunk)[140](index=140&type=chunk) - Selling, general and administrative expenses rose **48%** in Q2 2021, mainly due to a **$2.5 million** increase in personnel costs from higher headcount and a **$0.6 million** increase in professional services[136](index=136&type=chunk)[142](index=142&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) This section assesses the company's financial liquidity and capital resources, detailing cash, investments, working capital, funding sources, and cash flow from operations Key Liquidity Metrics (in thousands) | Metric | As of June 30, 2021 | As of June 30, 2020 | | :--- | :--- | :--- | | Cash, cash equivalents, and short-term investments | $328,907 | $105,233 | | Working capital | $320,222 | $77,084 | - The company's primary funding sources through June 30, 2021, have been equity offerings, including **$279.0 million** from offerings in Jan 2021 and Aug 2020, and **$144.0 million** from its June 2019 IPO[148](index=148&type=chunk) - Net cash used in operating activities was **$37.7 million** for the first six months of 2021, an increase from **$24.0 million** in the prior-year period, driven by a larger net loss and changes in working capital[152](index=152&type=chunk)[153](index=153&type=chunk) - Management believes current cash, cash equivalents, and short-term investments are sufficient to fund operations for at least the next 12 months[149](index=149&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," Personalis, Inc. is exempt from providing quantitative and qualitative disclosures about market risk - The company is not required to provide quantitative and qualitative disclosures about market risk because it qualifies as a "smaller reporting company"[165](index=165&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2021, with no changes in internal control over financial reporting during the quarter - Management concluded that as of June 30, 2021, the company's disclosure controls and procedures were effective in providing reasonable assurance that required information is recorded, processed, summarized, and reported in a timely manner[166](index=166&type=chunk) - There were no changes in the company's internal control over financial reporting during the quarter ended June 30, 2021[167](index=167&type=chunk) [PART II—OTHER INFORMATION](index=31&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material legal proceedings during the period - As of the reporting date, the company was not involved in any material legal proceedings[170](index=170&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) This section details significant risks including net losses, customer concentration, operational disruptions, supplier dependence, competition, regulatory complexities for LDTs, cybersecurity, data privacy, intellectual property, and stock volatility [Operational, Strategic and Business Risks](index=34&type=section&id=Operational%2C%20Strategic%20and%20Business%20Risks) This section outlines key operational and strategic risks, including a history of net losses, impacts from the COVID-19 pandemic, significant customer concentration, and reliance on sole-source suppliers - The company has a history of net losses, with a net loss of **$27.4 million** for the six months ended June 30, 2021, and an accumulated deficit of **$209.2 million**, expecting to incur significant losses for the foreseeable future[179](index=179&type=chunk) - The COVID-19 pandemic has negatively impacted productivity, disrupted business, slowed R&D, and caused delays in receiving customer samples, with a future outbreak among laboratory employees potentially curtailing or pausing operations[185](index=185&type=chunk) - The company has substantial customer concentration, with the VA MVP accounting for **62%** of revenue in Q2 2021 and the top five customers accounting for **87%**, and the VA MVP contract expiring in August 2021 without a renewal option[193](index=193&type=chunk)[195](index=195&type=chunk) - Personalis relies on Illumina as the sole supplier for sequencers and associated reagents, with the master subcontractor agreement set to expire in August 2021[201](index=201&type=chunk) [Regulatory, Legal and Cybersecurity Risks](index=44&type=section&id=Regulatory%2C%20Legal%20and%20Cybersecurity%20Risks) This section addresses risks related to regulatory compliance for LDTs, adherence to privacy and data security laws like HIPAA and GDPR, and potential impacts from security breaches and cyber-attacks - The company's tests are currently marketed as Laboratory Developed Tests (LDTs), subject to the FDA's enforcement discretion, where a policy change or new legislation could require burdensome and costly premarket clearance or approval[235](index=235&type=chunk)[237](index=237&type=chunk) - The company is subject to numerous privacy and data security laws, including HIPAA, HITECH, CCPA, and GDPR, with non-compliance potentially resulting in significant fines, such as GDPR penalties up to the greater of **€20 million** or **4%** of global turnover[262](index=262&type=chunk)[267](index=267&type=chunk) - The company faces risks from security breaches and cyber-attacks, which have increased during the COVID-19 pandemic, where a breach could compromise sensitive data, leading to liability, reputational harm, and business disruption[256](index=256&type=chunk)[259](index=259&type=chunk) [Intellectual Property Risks](index=55&type=section&id=Intellectual%20Property%20Risks) This section covers risks related to intellectual property, including potential infringement of third-party patents, reliance on trade secrets, and the implications of using open-source software - The company's success depends on avoiding infringement of third-party patents, as the genetic testing market is subject to extensive intellectual property litigation, and a lawsuit could force the company to stop sales, pay substantial damages, or obtain licenses on non-commercial terms[291](index=291&type=chunk)[294](index=294&type=chunk) - The company relies on trade secrets and proprietary know-how, and despite confidentiality agreements, there is a risk of unauthorized disclosure or independent development by competitors, which would harm its competitive position[318](index=318&type=chunk)[319](index=319&type=chunk) - The use of "open source" software could, under certain licenses, require the company to disclose its proprietary source code, which would help competitors and adversely affect the business[329](index=329&type=chunk) [Financial and Market Risks and Risks Related to Owning Our Common Stock](index=63&type=section&id=Financial%20and%20Market%20Risks%20and%20Risks%20Related%20to%20Owning%20Our%20Common%20Stock) This section addresses financial and market risks, including potential refund obligations for customer deposits, stock price volatility, limitations on net operating loss carryforwards, and increased compliance costs as an emerging growth company - As of June 30, 2021, the company held **$11.5 million** in customer deposits for future services, and if a customer cancels, the company may be required to refund these prepayments, which could strain its cash resources[334](index=334&type=chunk) - The market price of the company's common stock may be highly volatile due to factors such as operating results, analyst reports, competition, and general market conditions[338](index=338&type=chunk) - The company's ability to use its **$159.2 million** in federal and **$112.7 million** in state net operating loss carryforwards may be limited by Section 382 of the Code if an "ownership change" occurs[349](index=349&type=chunk) - The company's status as an "emerging growth company" under the JOBS Act will end on December 31, 2021, which will increase its legal and financial compliance costs[362](index=362&type=chunk)[363](index=363&type=chunk) [Exhibits](index=70&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, CEO and CFO certifications, and Inline XBRL financial data - The exhibits filed with this report include corporate governance documents, certifications by the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act, and financial data in XBRL format[377](index=377&type=chunk)

Personalis, Inc. (NASDAQ:PSNL) Q1 2021 Earnings Conference Call May 5, 2021 5:00 PM ET Company Participants Caroline Corner - IR John West - President and CEO Aaron Tachibana - CFO Conference Call Participants Doug Schenkel - Cowen Vidyun Bais - BTIG Mike Matson - Needham & Company Swayampakula Ramakanth - H.C. Wainwright Operator Good day and thank you for standing by. Welcome to the Personalis First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-38943 Personalis, Inc. (Exact Name of registrant as specified in its charter) incorporation or organization) Menlo Park, C ...

Personalis, Inc. (NASDAQ:PSNL) Q4 2020 Earnings Conference Call February 25, 2021 5:00 PM ET Company Participants Caroline Corner - Investor Relations John West - President and Chief Executive Officer Aaron Tachibana - Chief Financial Officer Conference Call Participants Derik De Bruin - Bank of America Doug Schenkel - Cowen Patrick Donnelly - Citi Vidyun Bais - BTIG Operator Ladies and gentlemen, thank you for standing by and welcome to the Q4 2020 Personalis Earnings Conference Call. [Operator Instruction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38943 Personalis, Inc. (Exact name of Registrant as specified in its Charter) Delaware 27-5411038 (State or other jurisdiction of incorporation ...

Personalis, Inc. (NASDAQ:PSNL) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants Caroline Corner – Investor Relations John West – President and Chief Executive Officer Aaron Tachibana – Chief Financial Officer Conference Call Participants Ivy X. Ma – Bank of America Doug Schenkel – Cowen Kevin DeGeeter – Oppenheimer Vidyun Bais – BTIG Steve Unger – Needham Swayampakula Ram – H.C. Wainwright Patrick Donnelly – Citi Operator Ladies and gentlemen, thank you for standing by and w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-38943 Personalis, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 27-5411038 (State or ...

Financial Data and Key Metrics Changes - Revenues for Q2 2020 were $19.5 million, up 23% from $15.8 million in the same period last year, marking a new record high for quarterly revenues [33][41] - Gross margin improved to 24% from 21.1% in the prior quarter, despite a negative impact of approximately 80 basis points from COVID-19 related higher labor costs [36][41] - Net loss for Q2 was $9.3 million, compared to a net loss of $5.9 million for the same period last year, with a net loss per share of $0.29 [41][43] Business Line Data and Key Metrics Changes - The company sequenced about 14,000 whole human genomes in Q2, a 70% increase from Q2 last year [8] - Revenue from the NeXT platform exceeded $2 million in Q2, contributing to overall revenue growth despite a decline from biobank customers [34] - Revenue from pharmaceutical customers increased by more than 20% sequentially, offsetting declines from biobank and biotech customers [10][33] Market Data and Key Metrics Changes - VA MVP revenue was $14.8 million, flat from the prior quarter but up 73% from $8.5 million in the same period last year [35] - Unfulfilled orders from the VA MVP at the end of Q2 totaled $39.3 million, expected to convert to revenue over the next two to three quarters [35] Company Strategy and Development Direction - The company is expanding its liquid biopsy product line, which is designed to complement its tissue biopsy offerings, enhancing its competitive position [11][14] - A new lab and commercial operations are being established in China to support international pharmaceutical companies conducting clinical trials [18][20] - The company aims to leverage its experience with the VA MVP program to explore new opportunities in population sequencing globally [23][91] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth, citing strong order levels from biopharma customers and the successful launch of the NeXT Liquid Biopsy [15][30] - The company anticipates challenges due to the ongoing pandemic but remains optimistic about future revenue streams and product adoption [43][30] Other Important Information - The company has expanded its commercial team in the U.S. and Europe to engage with more biopharma companies for potential companion diagnostic development [20] - The population sequencing business is on track to reach 100,000 whole human genome sequences by the end of the year, a significant milestone [21] Q&A Session Summary Question: Integration of electronic health record data with VA MVP project - Management confirmed that the VA MVP has a significant advantage due to the integration of electronic health records, which are already in electronic format [46][50] Question: Strategy for partnership with Berry Genomics in China - The company aims to set up sequencing capabilities in China to comply with local regulations, driven by requests from international pharmaceutical customers [51] Question: Differentiation of the liquid biopsy program in the market - The liquid biopsy product is designed to be used alongside tissue biopsy, providing comprehensive data across all 20,000 human genes, which is a significant differentiator [56][58] Question: Average order size and contract structure for NeXT - Orders typically cover all samples collected during clinical trials, which can be hundreds or even thousands of samples, with some contracts set up as blanket orders [66][68] Question: Impact of increased enrollment in the VA MVP - The increase in target enrollment to 2 million is expected to take about 10 years, with ongoing support for the program anticipated [81][84]