Personalis Reports First Quarter Results and Recent Highlights

Published: 2026-05-07 16:02:09 ET PSNL

Clinical test volume surged 258% year-over-year and 26% sequentially to 7,815 tests in Q1 Medicare coverage secured for lung cancer surveillance, providing a clear path to monetize rapidly growing clinical test volumes

Published on 05/07/2026 at 04:02 pm EDT

Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, today reported financial and operational results for the first quarter ended March 31, 2026, highlighted recent business accomplishments, and reaffirmed financial guidance for the full year 2026.

First Quarter and Recent Strategic and Operational Highlights

First Quarter 2026 Financial Results Compared with First Quarter 2025

CEO Commentary

"Our accomplishments in the first quarter demonstrated that our 'Win-in-MRD' strategy is working to establish NeXT Personal as the new standard for how cancer is detected and monitored," said Chris Hall, Chief Executive Officer of Personalis. "Delivering 26% sequential and 258% year-over-year clinical volume growth—especially during what is traditionally the industry's toughest seasonal quarter reflects the strong market demand for our ultrasensitive NeXT Personal test. With new Medicare coverage for lung cancer joining our existing breast cancer win, Personalis now has a reimbursement success in two of the largest oncology indications. We are transforming our ultrasensitive MRD technology from a clinical leader into a potential commercial powerhouse and we remain firmly on track to grow our clinical revenue five-fold this year.”

Full Year 2026 Outlook

Personalis reaffirmed the following guidance for the full year of 2026:

About Personalis, Inc.

At Personalis, we are transforming the active management of cancer through breakthrough personalized testing. We aim to drive a new paradigm for cancer management, guiding care throughout the patient journey. Our highly sensitive assays combine tumor-and-normal profiling with proprietary algorithms to deliver advanced insights even as cancer evolves over time. Our products are designed to detect minimal residual disease (MRD) and recurrence at the earliest timepoints, enable the selection of targeted therapies based on ultra-comprehensive genomic profiling, and enhance biomarker strategy for drug development. Personalis is based in Fremont, California. To learn more, visit www.personalis.com and connect with us on LinkedIn and X (Twitter).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as “anticipate,” “estimate,” “expect,” “if,” “may,” “future,” “will” or similar expressions. These statements include statements relating to: Personalis’ full year 2026 guidance for revenue, gross margin, net loss, and cash usage, the sufficiency of Personalis’ capital to support commercial scale and execution, the expected five-fold growth in clinical revenue in 2026 and Personalis’ commercial investments supporting projected clinical test volume growth and expansion, the potential for new features of the NeXT Personal test to optimize treatment, the clinical relevance of the NeXT Personal test and the potential impact or expected benefits of the Personalis’ published data and presentations. Such forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements, including the risks, uncertainties and other factors that relate to the timing and pace of new orders from customers, including from ModernaTX, Inc., Merck Sharp & Dohme LLC and other biopharma customers, and the VA MVP; the success of Personalis’ and Tempus AI, Inc.’s respective sales and marketing efforts; the timing of tissue, blood, and other specimen sample receipts from customers, which can materially impact revenue quarter-over-quarter and year-over-year; Personalis’ ability to demonstrate attributes, advantages or clinical validity of the NeXT platform, including the NeXT Personal MRD assay remaining unique in its ability to detect traces of cancer in the ultrasensitive range; future clinical data differing from the clinical data previously presented or expected results; the rate of adoption and use of the NeXT platform, including maintaining the accelerated adoption rates experienced in 2025 and in the first quarter of 2026; Personalis’ ability to obtain Medicare coverage and reimbursement in additional indications and the timing thereof; the impact of competition and macroeconomic factors on Personalis’ business; the partnering and/or collaboration arrangements that Personalis has entered into or may enter into in the future may not be successful, or may terminate, which could adversely impact Personalis’ business or affect its ability to develop and commercialize its services and products; having a limited number of suppliers; customer concentration; and Personalis may opportunistically raise additional capital through equity offerings, debt financings, collaborations, or licensing arrangements. These and other potential risks and uncertainties that could cause actual results to differ materially from the results predicted in these forward-looking statements are described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Personalis’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (SEC) on February 26, 2026 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, to be filed with the SEC on May 7, 2026. All information provided in this release is as of the date of this press release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Personalis undertakes no duty to update this information unless required by law.

PERSONALIS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except share and per share data)

Three Months Ended March 31,

2026

2025

Revenue (1)

15,472

20,605

Costs and expenses

Cost of revenue

15,191

13,398

Research and development

14,539

12,640

Selling, general and administrative (2)

17,903

12,263

Total costs and expenses

47,633

38,301

Loss from operations

(32,161

)

(17,696

)

Interest income

2,172

2,027

Interest expense

(47

)

(28

)

Other income (expense), net

(46

)

Loss before income taxes

(30,016

)

(15,743

)

Provision for income taxes

Net loss

(30,032

)

(15,750

)

Net loss per share, basic and diluted

(0.29

)

(0.18

)

Weighted-average shares outstanding, basic and diluted

104,191,862

87,463,885

(2) Includes related party sales and marketing expenses of $2.9 million and $0.6 million for the three months ended March 31, 2026 and 2025, respectively.

PERSONALIS, INC.

SUPPLEMENTAL REVENUE INFORMATION (Unaudited)

(In thousands)

Three Months Ended March 31,

2026

2025

Pharma testing services (1)

10,724

13,594

Enterprise sales

393

2,465

Population sequencing

2,500

4,213

Clinical diagnostic

1,431

308

Other

424

Total revenue

15,472

20,605

(1) Includes related party revenue of $3.1 million and $0.5 million for the three months ended March 31, 2026 and 2025, respectively.

PERSONALIS, INC.

CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands, except share and par value data)

March 31, 2026

December 31, 2025

Assets

Current assets

Cash and cash equivalents

73,594

124,245

Short-term investments

159,624

115,708

Accounts receivable, net (1)

13,022

16,203

Inventory and other deferred costs

6,930

6,144

Prepaid expenses and other current assets

5,028

5,651

Total current assets

258,198

267,951

Property and equipment, net

48,438

44,815

Operating lease right-of-use assets

14,957

15,118

Other long-term assets

3,802

6,280

Total assets

325,395

334,164

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable (2)

12,676

12,989

Accrued and other current liabilities (2)

22,201

25,079

Contract liabilities (3)

4,168

1,562

Total current liabilities

39,045

39,630

Long-term operating lease liabilities

31,023

31,866

Other long-term liabilities

562

1,483

Total liabilities

70,630

72,979

Commitments and contingencies

Stockholders’ equity

Preferred stock, $0.0001 par value — 10,000,000 shares authorized; none issued

—

Common stock, $0.0001 par value — 200,000,000 shares authorized; 104,691,704 and 102,475,891 shares issued and outstanding, respectively

Additional paid-in capital

916,117

892,331

Accumulated other comprehensive income (loss)

(70

)

104

Accumulated deficit

(661,292

)

(631,260

)

Total stockholders’ equity

254,765

261,185

Total liabilities and stockholders’ equity

325,395

334,164

(1) Includes related party accounts receivable of $4.5 million and $2.5 million as of March 31, 2026 and December 31, 2025, respectively.

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