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Personalis Personalis Reports Third Quarter 2021 Financial Results November 4 , 2021 MENLO PARK , Calif .-- ( BUSINESS WIRE ) -- Nov . 4 , 2021-- Personalis , Inc. ( Nasdaq : PSNL ) , a leader in advanced genomics for cancer and population sequencing , today reported financial results for the third quarter ended September 30 , 2021 . Third Quarter and Recent Highlights • Reported quarterly revenue of $ 22.3 million in the third quarter of 2021 compared with $ 19.8 million in the third quarter of 2020 , a 12 % increase • Record quarterly revenue of $ 8.6 million from biopharma and all other customers , excluding the U.S. Department of Veterans Affairs Million Veteran Program ( VA MVP ) , in the third quarter of 2021 compared with $ 5.7 million in the third quarter of 2020 , a 50 % increase • Record new orders received for cancer genomic testing from biopharma and all other customers , excluding the VA MVP ; order value of more than three - times ( 3x ) the amount of quarterly revenue reported in the third quarter of 2021 • Received new order from the VA MVP with an aggregate value of approximately $ 10 million over a six - month period of performance from September 17 , 2021 to March 31 , 2022 • Announced a collaboration with Mayo Clinic to provide clinical - grade comprehensive cancer genomic sequencing for patients ; creates fra ework for Personalis to sponsor future defined research studies and establishes Personalis as a preferred provider to Mayo Clinic for research and clinical sequencing and analysis services , particularly in the area of immuno - oncology • Announced the appointment of Robert Bruce to the newly created position of Vice President , Reimbursement ; the new role is tasked with driving efforts with Medicare and private payers • Announced the signing of a new building lease agreement in Fremont , California for approximately 100K square feet for laboratory capacity and office space , which is planned to be the new company headquarters and support future growth • Ended the third quarter of 2021 with cash and cash equivalents and short - term investments of $ 305.2 million " I'm proud to say that revenue from our oncology customers grew 50 % over the same period of the prior year , and increased sequentially for the eighth consecutive quarter . In addition , our new - orders - to - revenue ratio during the third quarter was more than three - to - one , and gives us confidence in our future growth , " said John West , Chief Executive Officer . " Looking ahead , and building on our recent oncology success , we are working to enhance our clinical , regulatory , and reimbursement capabilities as we prepare to launch NeXT Personal , our Minimal Residual Disease ( MRD ) offering in December as planned . We expect initial orders to come from our pharma customers and , later in 2022 , we will pursue orders for patient diagnostic tests in clinical settings . " Third Quarter 2021 Financial Results Revenue was $ 22.3 million in the three months ended September 30 , 2021 , up 12 % from $ 19.8 million in the same period of the prior year . Gross margin was 36.2 % in the three months ended September 30 , 2021 , compared with 26.9 % in the same period of the prior year . Operating expenses were $ 25.8 million in the three months ended September 30 , 2021 , compared with $ 15.0 million in the same period of the prior year . Net loss was $ 17.7 million in the three months ended September 30 , 2021 and net loss per share was $ 0.40 based on a weighted - average basic and diluted share count of 44.5 million , compared with a net loss of $ 9.5 million and a net loss per share of $ 0.27 based on a weighted - average basic and diluted share count of 35.5 million in the same period of the prior year . Business Outlook Personalis expects the following for the fourth quarter of 2021 : • Total revenue to be in the range of $ 20.2 million to $ 20.4 million • Revenue from biopharma and all other customers , excluding VA MVP , to be in the range of $ 12.5 million to $ 14.5 million • Net Loss to be in the range of $ 22 million to $ 23 million and estimated outstanding shares of approximately 45 million Personalis expects the following for the full year of 2021 : • Total revenue to be approximately $ 85 million • Revenue from biopharma and all other customers , excluding VA MVP , to be in the range of $ 37 million to $ 39 million • Net Loss to be in the range of $ 67 million to $ 68 million and estimated outstanding shares of approximately 45 million Webcast and Conference Call Information