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Personalis

PSNL on Nasdaq. Personalis sells DNA sequencing and data to drug companies and researchers. Market value $1.8bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-5.9%low

For every $100 of what the whole company costs, it produced $-5.90 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 20 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$16.03 a share, 224% above its 1-year low

Over the past year the price has ranged from $4.95 to $18.89.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
-0.1
n/a
-0.1
-0.1
2021202220232024202512 monthsto Jun '26
Revenue
$85m$65m$73m$85m$70m
Operating margin
-76.4%-177.6%-149.6%-80.7%-126.4%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.05bn0.05bn0.07bn0.09bn0.11bn

Health checks

  • Free cash flow positive0 of 4 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsShrinking, 2.4% a year
  • Buying back its own sharesNo, 132% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $22 million last quarter, up 30% on a year ago.
  • A loss of $32 million, compared with a loss of $20 million a year ago.
  • It loses 164 cents on each $1 of sales, compared with 90 cents a year earlier.
  • Over the past 12 months it spent $101 million more cash than it brought in, compared with $49 million a year earlier.
  • 19% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$26m
December 2024$17m
March 2025$21m
June 2025$17m
September 2025$14m
December 2025$17m
March 2026$15m
June 2026$22m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$39m
December 2024-$16m
March 2025-$16m
June 2025-$20m
September 2025-$22m
December 2025-$24m
March 2026-$30m
June 2026-$32m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
3 November 2026

Who owns it

2 long-term investors we follow own it, down from 3 last quarter. 159 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Merck & Co., Inc.
    Passive investor
    at least 16.5%
    (filed with 1 related holder)
    Since 19 December 2024
  • Eric Lefkofsky
    Strategic holder
    at least 12.6%−1.9 pts
    (filed with 1 related holder)
    Since 19 July 2026
    What they said

    Merger Agreement Following conclusion of confidential preliminary discussions between the Issuer and Tempus, and in response to the Issuer's request for Tempus to submit a proposal, on July 19, 2026, Tempus submitted a non-binding proposal to acquire all of the outstanding…

    Read the filing
  • at least 8.1%−1.4 pts
    (filed with 1 related holder)
    Since 31 March 2025
  • BlackRock, Inc.
    Passive investor
    5.9%+2.4 pts
    Since 30 June 2026
  • 5.8%−1.3 pts
    Since 30 June 2026
  • Deep Track Capital, LP
    Passive investor
    at least 3.8%−1.7 pts
    (filed with 2 related holders)
    Since 30 June 2026
  • Orin Hirschman
    Passive investor
    at least 3.8%−2.3 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • Lightspeed Venture Partners Select IV, L.P.
    Passive investor
    at least 2.0%
    (filed with 10 related holders)
    Since 8 June 2026
  • Sold down below 5%
    Since 31 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 4 sold $9m, $8m of it under preset trading plans.

  • Moore Stephen Michael
    SVP and Chief Legal Officer
    Sold
    Date
    18 September 2026
    Shares
    2,068
    Price
    $16.22
    Value
    $33,543
  • Chen Richard
    President and CMO
    Sold
    Date
    18 September 2026
    Shares
    3,998
    Price
    $16.22
    Value
    $64,848
  • Hall Christopher M
    Chief Executive Officer, Director
    Sold
    Date
    18 September 2026
    Shares
    7,459
    Price
    $16.22
    Value
    $120,985
  • Tachibana Aaron
    CFO AND COO
    Sold
    Date
    18 September 2026
    Shares
    2,931
    Price
    $16.22
    Value
    $47,541
  • Chen Richard
    President and CMO
    Sold
    under a preset trading plan
    Date
    15 July 2026
    Shares
    100,000
    Price
    $15.15
    Value
    $2m
  • Hall Christopher M
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    9 July 2026
    Shares
    100,000
    Price
    $15.08
    Value
    $2m
  • Tachibana Aaron
    CFO AND COO
    Sold
    under a preset trading plan
    Date
    29 June 2026
    Shares
    4,982
    Price
    $14.00
    Value
    $69,748
  • Hall Christopher M
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    26 June 2026
    Shares
    100,000
    Price
    $13.15
    Value
    $1m
  • Tachibana Aaron
    CFO AND COO
    Sold
    under a preset trading plan
    Date
    26 June 2026
    Shares
    51,251
    Price
    $13.18
    Value
    $675,488
  • Tachibana Aaron
    CFO AND COO
    Sold
    under a preset trading plan
    Date
    4 June 2026
    Shares
    40,000
    Price
    $12.01
    Value
    $480,400

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 4 Aug 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Sales have shrunk: 2.4% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.