Personalis, Inc. reported a significant decline in financial performance for the first quarter of 2026, with total revenue of $15.5 million, a decrease of 25% compared to $20.6 million in the same period of 2025. The company attributed this decline primarily to reduced revenue from pharmaceutical testing services and enterprise sales, particularly from its relationship with Natera, which has wound down. However, clinical diagnostic revenue saw a notable increase of 365%, reaching $1.4 million, following recent Medicare coverage approvals for its NeXT Personal Dx test for breast and lung cancer.
The company's net loss for the first quarter of 2026 was $30.0 million, compared to a loss of $15.8 million in the prior year. This increase in losses was driven by a rise in total costs and expenses, which amounted to $47.6 million, up from $38.3 million in the previous year. The increase in expenses was largely due to higher selling, general, and administrative costs, which rose by 46% to $17.9 million, reflecting increased marketing efforts and personnel costs associated with the growth of the clinical diagnostic business.
In terms of operational metrics, Personalis reported a decrease in customer concentration, with three major customers—Moderna, the U.S. Department of Veterans Affairs' Million Veteran Program (VA MVP), and Merck—accounting for a significant portion of its revenue. The company also noted a reduction in accounts receivable, which fell to $13.0 million from $16.2 million at the end of 2025. The total employee headcount increased, reflecting ongoing investments in research and development and sales capabilities.
Looking ahead, Personalis remains focused on expanding its genomic testing services and enhancing its operational infrastructure. The company is optimistic about the potential for increased revenue from its clinical diagnostic offerings, particularly following recent Medicare coverage decisions. However, it also acknowledged the challenges posed by market conditions and the need for continued investment in its technology and services to maintain competitiveness in the rapidly evolving oncology landscape. The company has sufficient cash and short-term investments, totaling $233.2 million as of March 31, 2026, to support its operations for at least the next 12 months.
About Personalis, Inc.
Personalis, Inc. develops and markets advanced cancer genomic tests and services for precision oncology, including liquid biopsy and tumor profiling. Its offerings support pharmaceutical research, biomarker discovery, and clinical decision-making. Serving global markets, the company emphasizes high-sensitivity technologies, clinical evidence, and strategic collaborations to enable personalized cancer therapies and improve patient outcomes. Its business model centers on high-quality genomic testing for healthcare providers and biopharmaceutical companies.
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