Personalis Q3 revenue beat on increased test volume; suspends forecast on pending Tempus AI merger

Overview

• Precision oncology genomics firm's Q3 revenue rose yr/yr, beating analyst expectations

• Revenue growth driven by higher clinical test volume and increased pharma testing services

• Company will not provide financial guidance due to pending Tempus AI merger

Outlook

• Personalis will no longer provide financial guidance due to pending merger with Tempus AI

Result Drivers

• CLINICAL TEST VOLUME - Co said clinical revenue growth was driven by increased test volume and expanded Medicare coverage

• PHARMA SERVICES & POPULATION SEQUENCING - Co attributed revenue gains to higher pharma testing services and increased population sequencing

• PRODUCT LAUNCH - Co launched Real-Time Variant Tracker as supplemental offering to NeXT Personal MRD test

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities & services peer group is "buy."

• Wall Street's median 12-month price target for Personalis, Inc. is $16.25, about 3.2% above its November 3 closing price of $15.75

Reuters Recommended Reads

• Nov 2 - Tempus AI Q3 revenue slightly beats estimates; raises guidance

• Nov 2 - Neurocrine Biosciences Q3 revenue jumps 41% on strong INGREZZA, CRENESSITY, VYKAT XR demand

• Nov 3 - Amgen Q3 revenue beats expectations on higher volumes

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)