23andMe (ME) Earnings Call Presentation

Business Overview - 23andMe operates with two business verticals: Consumer and Research[11] - The Consumer business focuses on personalized health services, ancestry, and recurring subscription revenue[13] - The Research business leverages the world's largest re-contactable genetic and phenotypic data engine for data licensing, target discovery, and research services for pharma[15] - The company has genotyped over 15 million customers, with over 84% of customers opting-in to research, generating 4.8 billion phenotypic data points[17] Consumer Health - Genetics plays a role in 8 out of the 10 leading causes of death in the US[24] - 23andMe helps consumers identify their genetic risks, with over 28,000 customers identified with BRCA1/BRCA2 variants and over 4 million with a higher likelihood of type 2 diabetes[32] - 76% of customers report taking a positive health action after learning about their genetics[33] - 23andMe offers direct access to care with Lemonaid Health Telehealth Services, including access to GLP-1 drugs for weight loss in a number of states[43, 47] Research and AI - 23andMe has a large biobank with over 9 million research participants with ILD data sharing consent and over 5 million biobanked samples[65] - The company is pursuing multiple approaches to integrate Claims and EHR data into its existing data ecosystem, with over 5 million 23andMe customers having both Claims and EHR data[67, 71] - 23andMe is investing in AI to drive the next wave of insights and value-creation, leveraging its large-scale, relevant, and unique data[93] Financials - In FY2024, PGS revenue was $168 million with subscription revenue of $20 million[57] - For the three months ended December 31, 2024, Consumer Services revenue was $40 million (66% of total revenue) and Research Services revenue was $21 million (34% of total revenue)[104] - Total revenue for the three months ended December 31, 2024, was $60 million, compared to $45 million for the same period in FY2024[104] - Total revenue for FY2024 was $220 million, with Consumer Services accounting for $202 million (92%) and Research Services accounting for $17 million (8%)[104] - The company has $216 million in cash to support its plans for targeted investment in high ROI growth initiatives[103]