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sema4 Sema4 Reports Third Quarter 2021 Financial Results and Business Highlights November 15 , 2021 36 % increase in test volume ( excluding COVID - 19 tests ) compared to the same period last year 17 % growth in revenue ( excluding COVID - 19 tests ) compared to the same period last year Full year 2021 total revenue guidance range of $ 201 million to $ 204 million Sema4 to host conference call today at 4:30 p.m. ET STAMFORD , CT - November 15 , 2021 Sema4 Holdings Corp. ( Nasdaq : SMFR ) ( " Sema4 " ) , an Al - driven genomic and clinical data intelligence platform company , today reported the financial results for the third quarter ended September 30 , 2021 and provided an update on key strategic and operational initiatives . " We continued to make significant progress this quarter expanding our infrastructure while also building our platform of algorithms . These activities will allow us to better accommodate volume growth while increasing the resolution of data that each sample provides , " said Eric Schadt , PhD , Founder and Chief Executive Officer of Sema4 . " The access to capital from our public markets transition has allowed us to scale investments in technology , infrastructure , and people , all with the aim to better serve our current and future health system partners to enhance patient care . It is early days in the journey and we exited the quarter seeing accelerating growth and a broadening scope of opportunity in front of us . " Third Quarter & Recent Highlights Diagnostic test volumes were up 36 % compared to the same period of 2020 , with 69,895 tests resulted during the third quarter of 2021 ( excluding COVID - 19 tests ) . This includes 166 % growth in Oncology and 33 % growth in Women's Health . • Revenue in the third quarter increased 17 % ( excluding COVID - 19 tests ) compared to the same period of 2020 , resulting in total revenue of $ 43.2 million compared to $ 38.6 million . • Lab capacity and informatics infrastructure continued to be built out , enabling significantly higher volumes in support of deeper penetration of existing health systems and onboarding of additional health systems . • Announced a fourth health system partnership , Avera Health , and the launch of a broad precision medicine initiative to leverage Sema4's health intelligence platform to curate data and create predictive system - wide modeling • Centrellis now contains over 11.9 million de - identified individual clinical records , including over 500,000 with matching clinical genomic profiles , making it one of the largest known data set of this kind in the world . • Launched Sema4 Elements ™ , our portfolio of data science - driven products and services to support reproductive and generational health . • Published two papers in collaboration with the Icahn School of Medicine at Mount Sinai focused on the prediction of Postpartum Hemorrhage using Sema4 machine learning algorithms , derived from large - scale , comprehensive real - world data , to predict clinical outcomes and drive meaningful changes in the standard of care . • Strengthened executive team by adding a world - renowned expert in computational biology , Gustavo Stolovitzky , as Chief Science Officer in September . Third Quarter Financial Results Total revenue for the third quarter of 2021 was $ 43.2 million , compared to $ 38.6 million in the third quarter of 2020. Revenue growth was driven primarily by an increase of volume from Women's Health and Oncology testing . Cost of services was $ 58.8 million in the third quarter of 2021 , compared to $ 36.5 million in the same period of 2020. The increase was a result of expansion at our Stamford clinical laboratory , increased headcount , investments in systems and higher logistical and supply costs due to increased volumes in our non - COVID business . We anticipate these new investments will enable us to support continued volume growth with significantly higher cost efficiencies over time . Adjusted cost of service , which excludes stock - based compensation expense was $ 55.1 million in the third quarter of 2021 , compared to $ 33.0 million in the same period of 2020 . Operating expenses for the third quarter of 2021 were $ 74.0 million , compared to operating expenses of $ 58.1 million in the third quarter of 2020. The increase in operating expenses was due in part to higher personnel - related costs as we build out our laboratory operations and investment in our health intelligence platform , as well as incremental public company expenses . Adjusted operating expenses , which excludes stock - based compensation and non - recurring transaction costs associated with our go public process , for the third quarter of 2021 were $ 59.3 million , compared to $ 32.1 million in the same period of 2020 .