Personalis
Whole-genome liquid biopsy tests that track cancer recurrence at the molecular level.
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Profile
Develops and operates whole-genome, tumor-informed liquid biopsy tests for molecular residual disease detection in cancer patients, commercialized through partnerships with Tempus AI and other oncology networks. Revenue is concentrated in the US and tied to Medicare reimbursement coverage and volume from a small number of enterprise sequencing partners.
Runs a CLIA-certified, CAP-accredited genomics laboratory in Fremont, California that processes tumor and blood samples for cancer centers, biopharma partners, and a population-sequencing program for the U.S. Department of Veterans Affairs.
The flagship product is NeXT Personal®, a whole-genome, tumor-informed liquid biopsy assay that detects ultra-low levels of molecular residual disease, using up to roughly 1,800 patient-specific somatic variants from an initial tumor sample.
Clinical reach runs through Tempus AI in lung, breast, and immunotherapy monitoring; Natera draws on a separate exome-sequencing supply agreement for its Signatera test; Moderna uses ImmunoID NeXT to underpin an individualized neoantigen therapy program.
Revenue depends on Medicare reimbursement decisions — which expanded across breast and lung cancer surveillance through 2025–2026 — and on volume from a small number of enterprise partners.
Company facts
Key statistics
Year to date +118% · Average volume (30d) 4.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Craig-Hallum | Downgrade | Hold | $16.25 | ||
| Jul 21, 2026 | BTIG | Reiterate | Buy | $11 | $16.25 | |
| Jul 20, 2026 | Needham | Downgrade | Buy | Hold | ||
| Jul 20, 2026 | Lake Street | Downgrade | Buy | Hold | $11 | $16.25 |
| Jul 17, 2026 | Needham | Reiterate | Buy | $10 | $17 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.26 | −$0.30 | −13.9% | $16.7M | $22.4M | +34.0% | 0.00% |
| May 7, 2026Q1 FY26 | −$0.23 | −$0.29 | −26.1% | $14.5M | $15.5M | +6.8% | −0.17% |
| Feb 26, 2026Q4 FY25 | −$0.31 | −$0.26 | +16.1% | $17.0M | $17.3M | +1.7% | +0.33% |
| Nov 4, 2025Q3 FY25 | −$0.28 | −$0.24 | +14.3% | $17.0M | $14.5M | −14.9% | −12.26% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $20.6M | $17.2M | $14.5M | $17.3M | $15.5M | $22.4M | |
| Gross profit | $7.2M | $4.8M | $1.9M | $1.9M | $281.0K | $4.7M | |
| Operating income | −$17.7M | −$21.8M | −$23.3M | −$25.3M | −$32.2M | −$33.6M | |
| Net income | −$15.8M | −$20.1M | −$21.7M | −$23.8M | −$30.0M | −$31.7M | |
| Diluted EPS | −$0.18 | −$0.23 | −$0.24 | −$0.26 | −$0.29 | −$0.30 | |
| Gross margin | 35.0% | 27.6% | 13.2% | 11.0% | 1.8% | 21.2% | |
| Operating margin | -85.9% | -126.7% | -160.7% | -145.7% | -207.9% | -150.2% |
Fiscal years (4-quarter sums)FY21 $85.5M · FY22 $65.0M · FY23 $73.5M · FY24 $84.6M · FY25 $69.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $212.7M · Total debt $38.0M · Total assets $312.1M · Shareholders' equity $235.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 106.75M · Float 65.77M · 61.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Merck & Co., Inc. | 14.04M | 13.16% | 13F | May 13, 2026 |
| Tempus AI, Inc. | 13.04M | 12.50% | 13D | Jul 21, 2026 |
| Lightspeed Management Company, L.L.C. | 8.16M | 7.64% | 13F | May 15, 2026 |
| Ark Investment Management LLC | 7.94M | 7.44% | 13F | May 12, 2026 |
| Ameriprise Financial Inc | 7.59M | 7.11% | 13F | Jul 17, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 15, 2026 | Richard Chen | officer: President and CMO | −100,000 | $15.15 |
| Jul 9, 2026 | Christopher M. Hall | director, officer: Chief Executive Officer | −100,000 | $15.08 |
| Jun 29, 2026 | Aaron Tachibana | officer: CFO AND COO | −4,982 | $14.00 |
| Jun 26, 2026 | Christopher M. Hall | director, officer: Chief Executive Officer | −100,000 | $13.15 |
| Jun 26, 2026 | Aaron Tachibana | officer: CFO AND COO | −51,251 | $13.18 |
Peers
- Natera
Head-to-head in tumor-informed MRD via Signatera, the category leader.
- Guardant Health
Competes in MRD with Guardant Reveal and in CGP with Guardant360.
- Myriad Genetics
Precise MRD is the closest WGS tumor-informed analog to NeXT Personal.
- Tempus AI
Partner-competitor: distributes NeXT Personal Dx but rivals in CGP and data.
- Veracyte
TrueMRD WGS-based MRD launching 2026 brings new head-to-head competition.
- NeoGenomics
RaDaR ST tumor-informed MRD plus broad oncology CGP services overlap.
- Caris Life Sciences
Caris MI Profile competes with NeXT Dx for comprehensive tumor profiling.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Personalis | $17.35 | +1.57% | $1.82B | — | — | 26.2 | +30.0% |
| Natera | $325.30 | −0.26% | $46.73B | — | — | 17.3 | +37.7% |
| Guardant Health | $161.50 | −0.03% | $21.67B | — | — | 18.3 | +44.3% |
| Myriad Genetics | $3.16 | +0.48% | $298.5M | — | — | 0.4 | −10.5% |
| Tempus AI | $63.44 | −0.89% | $11.22B | — | — | 7.8 | +21.6% |
| Veracyte | $44.20 | +2.01% | $3.46B | 31.0 | 23.9 | 6.2 | +15.5% |
| NeoGenomics | $18.20 | +0.86% | $463.8M | — | 64.9 | 0.6 | +11.2% |
| Caris Life Sciences | $25.63 | −0.03% | $7.25B | 71.6 | 101.6 | 7.3 | +45.4% |
| Median | 51.3 | 64.9 | 7.3 | +21.6% |