Personalis Reports Preliminary Q4 And FY23 Revenue And Cash Balance; Sees Q4 Revenue $19.7M Vs $19.62M Est.; Sees FY23 Revenue $73.5M Vs $73.41M Est.
Portfolio Pulse from Benzinga Newsdesk
Personalis, Inc. (NASDAQ:PSNL) reported preliminary Q4 revenue of $19.7M, slightly above the $19.62M estimate, and FY23 revenue of $73.5M, also above the $73.41M estimate. Q4 revenue increased by 18% year-over-year, and FY23 revenue by 13%. The company's cash balance is estimated at $114M, expected to last until Q1 2026 due to cost-cutting measures saving $35M annually. Personalis highlighted its achievements, including launching NeXT Personal Dx, expanding research collaborations, and a new partnership with Tempus.
January 05, 2024 | 2:08 pm
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Personalis reported higher-than-expected preliminary revenues for Q4 and FY23, with significant year-over-year growth and a solid cash position, indicating effective cost management and operational progress.
The positive preliminary revenue figures exceeding estimates, along with a robust cash balance and reduced expenses, are likely to be viewed favorably by investors. This could lead to a short-term positive impact on PSNL's stock price.
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