Financial Performance - Revenue reached $502 million in Q1 2025, a 37% increase compared to $368 million in Q1 2024[9] - Gross margin was 63% in Q1 2025, up from 57% in Q1 2024, with approximately $23 million in cash inflow generated[9] - The company is increasing its 2025 financial outlook, projecting revenue of $1.94 billion - $2.02 billion, representing a pro-forma revenue growth of approximately 26%, with a gross margin of 60% - 64% and positive cash flow generation[9] Volume and Test Growth - Total tests processed in Q1 2025 reached 855K, a 16% increase compared to 736K in Q1 2024[9] - Clinical oncology tests saw significant growth, with 161K tests in Q1 2025, a 52% increase compared to 106K in Q1 2024[9] - Signatera clinical units experienced substantial sequential growth, increasing by approximately 165K units compared to Q4 2024[14] Product and Clinical Data Highlights - Prospera Heart demonstrated strong performance with donor quantity score (DQS) in detecting allograft rejection, as published in the American Journal of Transplantation, showing an 8357% specificity[22] - The DEFINE-HT clinical trial showed that patients with elevated Prospera had a significantly higher risk for adverse events (HR: 256, p=00299)[24] - In the I-SPY 2 breast cancer trial, Signatera quantification was identified as a significant risk factor for recurrence[30] - A sarcoma study with over 200 patients and 2100 samples showed 89% sensitivity and 100% specificity overall, and 93% sensitivity and 100% specificity for Leiomyosarcoma[33]