23andMe ‘Transitional’ posted a net loss of $ 217M in FY

23 and I. It reported a net loss of $ 217 million in fiscal year 2022, ending March 31, compared to 184 million the previous year.

Consumer Genetics Company also posted a $ 70 million loss in its fourth quarter, compared to $ 67 million in the fourth quarter of 2021. Of Newly acquired telehealth segment.

In the meantime, the company has pointed to that operating cost, and to increase its net profit for therapeutics-related research and development expenses.

Total revenue for the fourth quarter was $ 101 million, and $ 272 million Yearsবৃদ্ধি An increase of 14% and 11% over the same period of the previous year, respectively

23andMe estimates full-year revenue for FY 2023 to be between $ 260 million and $ 280 million, and full-year GAAP net loss to be between $ 350 million and $ 370 million.

“Fiscal year 2022 was a transitional year for 23andMe. It was highlighted by our public listing in June 2021, followed by the acquisition of the strategically important Lemonaid Health in November, now based on our planned launch of Genomic Health Services,” said CFO Steve Schoch. Earnings said during call.

Greater trend

In October, 23andMe announced it Telehealth and online prescription platform Lemonaid have signed a specific agreement to acquire Health. The deal closed in November.

The company plans to use the Lemonaid offer as part of its Genomic Health service, where customers can access their genetic information for preventive and personalized care.

“Our efforts towards consumers will now focus on building a bridge between health risk awareness and health risk and disease management with our new genomic health services,” CEO and co-founder Ann Wojciech said during the call.

“Over the next few years, we plan to focus on the direct-to-consumer self-pay market. Once we have established ourselves in the DTC market, we can look at growth in other channels. This effort started with our acquisition and integration. Lemonaid Health and their telehealth and digital pharmacy services. “

23andMe is also working to use its genetic data for research and development of new drugs. Pharma giant at the beginning of this year GlaxoSmithKline has extended their drug discovery partnership to July 2023.

On the record

“In the coming fiscal year, we plan a more prudent holistic approach to our cash use, prioritizing our next-generation genomic health care roll-out and advancing our therapeutic efforts. Schoch said in a statement.

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