Personalis Inc (NASDAQ: PSNL) is a genomic sequencing services company that develops and performs cancer testing services, including liquid biopsy, tissue-based sequencing, and whole genome sequencing. Revenue comes from fee-for-service testing contracts with pharmaceutical companies, biopharmaceutical companies, diagnostics companies, universities, non-profits, government entities, and cancer patients. The company operates from a CLIA-certified and CAP-accredited laboratory in its 100,000 square foot headquarters in Fremont, California. Personalis was incorporated in Delaware in 2011 and became publicly traded in 2019. Key customers and partners named in the FY2025 10-K filing include the U.S. Department of Veterans Affairs Million Veteran Program, ModernaTX Inc., Merck and Co. Inc., Myriad Genetics Inc., and Tempus AI Inc., with whom the company entered a commercialization and reference laboratory agreement in November 2023 to co-commercialize its NeXT Personal Dx liquid biopsy test.

Revenue model

Fee-for-service testing revenue from genomic sequencing services performed in Personalis's own CLIA-certified laboratory. Customers include pharmaceutical companies paying for clinical trial support, diagnostics companies paying for whole exome sequencing inputs, government entities funding population sequencing, and cancer patients paying for clinical liquid biopsy testing.

Products and services

NeXT Personal Dx: a tumor-informed liquid biopsy test for minimal residual disease detection and recurrence monitoring in solid tumor cancers, introduced in Q4 2023. ImmunoID NeXT: a tissue-based test combining whole exome and whole transcriptome sequencing with analytics for tumor microenvironment profiling, designed for pharmaceutical drug development. Whole exome sequencing of cancer tissue and matched blood samples for diagnostics companies. Whole genome sequencing for population sequencing initiatives.

Customers and end markets

Global pharmaceutical and biopharmaceutical companies, diagnostics companies, universities, non-profits, government entities (including the U.S. Department of Veterans Affairs Million Veteran Program), and cancer patients. Key named partners include ModernaTX Inc., Merck and Co. Inc., Myriad Genetics Inc., and Tempus AI Inc.

Value-chain role

Contract genomic sequencing laboratory and test developer sitting between sample collection and downstream pharmaceutical drug development, diagnostics product development, and clinical patient care decisions.

Geographic exposure

Laboratory operations based in Fremont, California. Sales force organized by geography. Customers described as global but no specific international revenue breakdown is supported by the filing excerpts.

Source: SEC 10-K, filed 2026-02-26

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