On January 10, 2022 Invitae Corporation (NYSE: NVTA), a leading medical genetics company, reported that 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 (Press release, Invitae, JAN 10, 2022, View Source [SID1234598502]).
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Invitae’s (NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. www.invitae.com (PRNewsFoto/Invitae Corporation)
"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.