Prenetics Q3 Revenues up 59 Percent

Original from: 360dx

Hong Kong-based genomic testing firm Prenetics on Wednesday announced that its Q3 revenues rose 59 percent year over year.

The firm reported revenue of $7.8 million, up from $4.9 million in Q3 2023.

Prenetics saw a net loss of $12.1 million, or $.84 per share, compared to a loss of $14.1 million, or $1.16 per share, in the prior-year quarter.

The company noted that its CircleDNA and ACT Genomics businesses are on track to achieve business-unit breakeven in the second half of 2024. In 2022, Prenetics took a majority stake in Taiwanese precision oncology firm ACT Genomics, which provides genomic testing services for major solid tumor types and offers biomarker discovery services to academic and industry partners.

At the end of Q3, the company had cash and cash equivalents totaling $31.9 million.

During the quarter, Prenetics established its US headquarters in Charlotte, North Carolina, with its acquisition of Europa Sports Partners.

Source: Prenetics Q3 Revenues up 59 Percent