Personalis Clinical Test Volume Triples To 13,157 As Quarterly Loss Widens To $33.8 Million
Revenue rose to $25.6 million from $14.5 million, but selling costs doubled and the pending Tempus AI deal ends guidance and earnings calls.
Personalis delivered 13,157 clinical tests in the third quarter, up from 4,388 a year earlier, and revenue climbed to $25.6 million from $14.5 million, the company said in an 8-K filed Wednesday. The cancer-testing company's net loss still widened to $33.8 million, or $0.32 per share, from $21.7 million, or $0.24, a year ago.
Clinical revenue jumps elevenfold
Clinical test revenue reached $4.4 million, against $0.4 million in the third quarter of 2025. The company credited higher volume, a full quarter of Medicare-covered immunotherapy-response testing, and revenue from covered breast and lung cancer tests.
Population sequencing for the VA Million Veteran Program brought in $4.0 million, versus $0.2 million. Pharma testing services and all other customers totaled $17.2 million, up from $13.2 million. The company said total growth was primarily driven by clinical revenue, plus core revenue from more population sequencing and higher pharma testing.
For the first nine months, revenue was $63.4 million against $52.3 million a year earlier, and the net loss was $95.5 million against $57.5 million.
Selling costs double to $26.0 million
Selling, general and administrative expenses rose to $26.0 million from $13.0 million. Research and development spending increased to $16.1 million from $12.2 million, and the operating loss grew to $35.5 million from $23.3 million.
The company ended the quarter with about $190.6 million in cash, cash equivalents and short-term investments. At the end of 2025, cash and short-term investments together stood at roughly $240 million on the balance sheet ($124.2 million in cash and $115.7 million in short-term investments).
A business built on cancer genomics
Personalis, based in Fremont, California, provides advanced cancer genomic testing. Physicians use its tests to detect residual or recurrent cancer and to monitor response to therapy, while drugmakers use them for biomarker discovery and clinical trials. In 2025, Moderna accounted for 22% of its revenue, according to its annual report.
The company also launched an optional Real-Time Variant Tracker for its NeXT Personal residual-disease test and reported early results from a triple-negative breast cancer study showing a 96% ctDNA detection rate at baseline.
Tempus deal ends guidance and calls
Personalis agreed on July 20, 2026 to merge with Tempus AI, and said it will no longer provide financial guidance or hold quarterly earnings calls. CEO Chris Hall said combining with Tempus gives it "the scale, complementary capabilities and resources to accelerate innovation."
Personalis shareholders must still adopt the merger agreement for the deal to proceed.
Personalis shareholders have yet to adopt the merger agreement, a step the company lists among the risks to the Tempus deal.
Sources
- 8-K Filing — Personalis, Inc. (PSNL) — SEC EDGAR
- Exhibit psnl-ex99_1.htm — Personalis, Inc. 8-K exhibit — SEC EDGAR
- Personalis Reports Third Quarter Results — businesswire.com
