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GlobeNewswire·

Freenome Reports Third Quarter 2026 Financial Results

FRNM
  • Freenome reported third-quarter 2026 total revenue of $183.5 million, driven by $180.0 million from the FDA-approved SimpleScreen™ CRC test.
  • The company recognized $182.5 million in license and collaboration revenue compared to $1.0 million in the same period of 2025.
  • Freenome achieved a GAAP net income of $60.1 million for the quarter, reversing a $64.5 million net loss from 2025.
  • Adjusted EBITDA for the third quarter was $117.9 million, improving from a negative $56.3 million in 2025.
  • The company went public on July 21, 2026, raising approximately $310 million in gross proceeds under the NASDAQ ticker FRNM.
  • Cash, cash equivalents, and marketable securities totaled $430.0 million as of September 30, 2026.
  • Net cash provided by operating activities was $38.4 million for the quarter, with free cash flow reaching $35.7 million.
  • Abbott launched the Freenome-developed SimpleScreen™ CRC test commercially in the U.S. on September 30, 2026.
  • The company expanded its portfolio in October 2026 with the launch of SimpleScreen™ Lung for adults aged 50 to 80 with significant smoking history.
  • Freenome received FDA Breakthrough Device Designation for the multiomics version of the SimpleScreen™ Lung test.
  • The company provided full-year 2026 revenue guidance of $192 million to $194 million.
  • Approximately $50.5 million in Abbott convertible notes were converted into 3.4 million shares at $15.00 per share.
  • The Roche convertible note was previously converted into 6.4 million shares at $12.00 per share upon the July 2026 business combination.
  • Clinical updates showed improved detection of advanced precancerous lesions in the updated SimpleScreen™ CRC study.
  • Next single-cancer readouts are anticipated in December 2026, with the first multi-cancer detection readout expected in mid-2027.
Company
Freenome, LLC
Keywords
Nasdaq:FRNM, Freenome, LLC