Personalis(US:PSNL)2025-11-04 21:09Financial Performance - Revenue for Q3 2025 was $14.5 million, a decrease of 44% compared to $25.7 million in Q3 2024[4] - Gross margin for Q3 2025 was 13.2%, down from 34.0% in the same quarter last year, primarily due to lower revenue volume and increased clinical test costs[8] - Net loss for Q3 2025 was $21.7 million, with a net loss per share of $0.24, compared to a net loss of $39.1 million and a net loss per share of $0.64 in Q3 2024[8] - The company expects total revenue for Q4 2025 to be in the range of $15.7 to $20.7 million[7] - Updated full-year 2025 revenue guidance is now $68.0 to $73.0 million, reduced from the previous range of $70.0 to $80.0 million[7] - Revenue from pharma tests and services is expected to be in the range of $50.0 to $54.0 million for the full year 2025, down from prior guidance of $52.0 to $58.0 million[7] Clinical Developments - Clinical test volume increased by 364% year-over-year, with 4,388 tests delivered, representing a 26% sequential increase from Q2 2025[5] - The company launched the CATE clinical trial in collaboration with Yale Cancer Center to demonstrate the utility of NeXT Personal in breast cancer treatment[5] - Personalis submitted a third dossier for Medicare coverage, with three pending indications, aiming to secure reimbursement for its tests[5] Asset and Liability Changes - Total assets decreased from $270.3 million as of December 31, 2024, to $242.8 million as of September 30, 2025, representing a decline of approximately 10.2%[19] - Current assets decreased from $203.0 million to $174.4 million, a reduction of about 14.1%[19] - Cash and cash equivalents dropped significantly from $91.4 million to $50.0 million, a decrease of approximately 45.4%[19] - Total liabilities increased from $67.3 million to $71.4 million, reflecting an increase of about 6.2%[19] - Stockholders' equity decreased from $203.0 million to $171.4 million, a decline of approximately 15.5%[19] - Accounts payable rose from $6.4 million to $11.1 million, an increase of approximately 73.5%[20] - Accumulated deficit increased from $550.0 million to $607.4 million, indicating a worsening financial position[19] - Additional paid-in capital increased from $753.0 million to $778.8 million, an increase of about 3.3%[19] - Long-term operating lease liabilities decreased from $34.9 million to $32.7 million, a reduction of approximately 6.3%[19] - Contract liabilities decreased from $3.1 million to $1.5 million, a decline of approximately 51.6%[19]