Sema4's First Quarterly Earnings As Public Company Fails To Cheer Investors

Sema4 Holdings Corp SMFR reported second-quarter revenue of $46.9 million, +56% Y/Y, driven by increased women's health and oncology tests and collaboration services.
Diagnostic test revenue was $44.8 million, up 50%, while other revenue increased almost sevenfold to $2.1 million.
Excluding COVID-19 tests, Sema4 processed 71,702 diagnostic tests during Q2, +85% Y/Y.
Sema4's health intelligence platform, Centrellis, had access to data from approximately 20 million patients, including de-identified longitudinal clinical records for 12 million patients and hundreds of thousands of genomic profiles.
Sema4's Q2 net loss swelled to $45.4 million from $32.1 million a year ago.
R&D expenses reached $12.0 million, +28%, and SG&A expenses were $29.0 million, up 73%.
The Company had $26.5 million in cash and cash equivalents, but the firm subsequently raised approximately $510 million in July through its merger with CM Life Sciences.
The Company did not provide revenue guidance for 2021 but said it is targeting around $500 million in revenues for 2023.
Price Action: SMFR shares are down 15.1% at $9.64 during the market session on the last check Tuesday.