SAN FRANCISCO,
Jan. 10, 2022
/PRNewswire/ -- Invitae Corporation (NYSE: NVTA), a leading medical
genetics company, announced preliminary unaudited full-year 2021
revenue, billable volume and commercial metrics reporting
approximately 64 percent growth in revenue and 76 percent growth in
volume, signaling continued momentum into 2022.
"We are encouraged by the acceleration of our business in 2021,
particularly in light of the direct and indirect impacts on the
healthcare system throughout the year," said Sean George, Ph.D., co-founder and chief
executive officer of Invitae. "Our results, which exceeded our
outlook a year ago, underscore the strength of our unique model for
engaging patients and physicians early, delivering new and
efficient ways to interact and provide information to those
patients and support their providers at every step along the way.
The growth in testing during this period demonstrates the value of
our differentiated strategy of expanding access to and use of
genetic information for all patients as they plan for a healthier
life. I am confident in our continued ability to execute and
integrate new technologies to expand our menu, services and data
platform as we enter into this next phase of our business model on
our way to establishing genome management as the future of
medicine."
Preliminary, unaudited financial results and other metrics
for 2021
- Generated revenue of more than $458
million in 2021, an approximate 64 percent increase from
$279.6 million in 2020
- Generated billable volume of more than 1.16 million in 2021, an
approximate 76 percent increase from billable volume of 659,000 in
2020
- Total active healthcare provider accounts are over 17,500,
almost doubling since the beginning of 2020
- Active pharma and commercial partnerships grew to 178, an
increase of approximately 68 percent in 2021 driving continued
revenue growth from Invitae's data and data services platform to
pharma, health system and software and services partners
- Total patient population is more than 2.5 million with over 62
percent available for data sharing
Invitae has not completed preparation of its financial
statements for the fourth quarter or full year 2021. The
preliminary, unaudited results presented in this press release for
the year ended December 31, 2021, are
based on current expectations and are subject to adjustment. Actual
results may differ materially from those disclosed in this press
release. Invitae will report its full financial results and other
metrics during its fourth quarter and year-end 2021 conference call
in early March.
Invitae's Presentation at 40th Annual J.P. Morgan Healthcare
Conference
Invitae will present at the 40th Annual J.P.
Morgan Healthcare Conference on Wednesday,
January 12, 2022, at 9:45 a.m.
Eastern Time/6:45 a.m. Pacific
Time. The 2022 J.P. Morgan Healthcare Conference is being
held virtually via webinar. A live webcast of both the presentation
and a Q&A session may be accessed at the following direct
link or by visiting the investors section of the company's
website at ir.invitae.com. Public listeners can access an
audio and slide recording of the session, which will be available
shortly after the conclusion of the presentation and Q&A
session on the investors section of the company's website
at ir.invitae.com.
About Invitae
Invitae Corporation (NYSE:
NVTA) is a leading medical genetics company whose mission is
to bring comprehensive genetic information into mainstream medicine
to improve healthcare for billions of people. Invitae's goal is to
aggregate the world's genetic tests into a single service with
higher quality, faster turnaround time, and lower prices. For more
information, visit the company's website at invitae.com.
Safe Harbor Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including the company's
preliminary financial results for 2021, including billable volume,
revenue, and certain commercial metrics; the company's beliefs
regarding the acceleration of the company's business in 2021 and
continued momentum into 2022; the company's beliefs regarding the
strength of various attributes of its business and its unique
business model; the company's beliefs regarding its ability to
execute and integrate new technologies to expand its menu, services
and data platform; the company's beliefs regarding the value of its
strategy of expanding access to and use of genetic information for
all patients; and the company's beliefs regarding the next phase of
its business model and the potential of genome management as the
future of medicine. Forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially, and reported results should not be considered as an
indication of future performance. These risks and uncertainties
include, but are not limited to: actual results for the fourth
quarter and full year 2021, the year-end close process and audit of
the company's financial statements; the company's ability to build
on momentum in its business and the drivers of momentum; the impact
of the COVID-19 pandemic on the company's business; the company's
history of losses; the company's need to scale its infrastructure
in advance of demand for its tests and to increase demand for its
tests; the company's ability to compete; the company's ability to
develop and commercialize new tests and data services, and expand
into new markets; risks associated with the company's ability to
use rapidly changing genetic data to interpret test results
accurately, consistently, and quickly; the risk that the company
may not obtain or maintain sufficient levels of reimbursement for
its tests; the company's ability to successfully integrate acquired
businesses, and the benefits to the company of any such
acquisitions; laws and regulations applicable to the company's
business; the impact of litigation on the company's business; and
the other risks set forth in the company's filings with the
Securities and Exchange Commission, including the risks set forth
in the company's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2021. These
forward-looking statements speak only as of the date hereof, and
Invitae Corporation disclaims any obligation to update these
forward-looking statements.
Contact:
ir@invitae.com
(628) 213-3369
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SOURCE Invitae Corporation