Sema4 Posts 24% Increase In Q4 Sales, Excluding COVID-19 Tests; FY22 Sales Outlook Lags Consensus

Sema4 Holdings Corp SMFR reported Q4 revenues of $57.8 million, down 9.6% Y/Y, beating the consensus of $49.66 million due to lower volumes in COVID-19 business.

• Total revenue increased 24% in the fourth quarter of 2021 (excluding COVID-19 testing revenue).
• Diagnostic testing volumes were up 37%, with 82,966 tests resulted (excluding COVID-19 tests), including 142% growth in Oncology and 33% growth in Women's Health.
• Diagnostic test revenue was $56.13 million, down 8.9%.
• Sema4 reported a Q4 Basic EPS loss of $(0.17).
• The company held $400.6 million in cash and equivalents.
• Guidance: Sema4 expects FY22 revenues of $215 million - $225 million (consensus of $273.57 million). 
• The company expects FY22 resulted test volume growth to exceed 20% (excluding COVID-19 tests), with an adjusted gross margin of over 10%.
• Price Action: SMFR shares closed 6.69% lower at $2.65 on Monday.