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Revenue growth of 42% (excluding SCC and ID Genetics) was primarily driven by double-digit volume increases in core DecisionDx-Melanoma and TissueCypher tests.

DecisionDx-Melanoma achieved record monthly test reports in March 2026, supported by new SEER-linked data demonstrating improved risk prediction over traditional AJCC staging.

TissueCypher volume grew 58% year-over-year, though management noted that the franchise has reached a penetration level where first-quarter seasonality in GI procedures is now observable.

The company is successfully transitioning to a multi-vertical growth strategy, with the gastroenterology franchise contributing significantly to the quarterly revenue beat.

While total operating expenses decreased year-over-year, costs in specific areas like sales and marketing, G&A, and cost of sales increased due to strategic headcount expansion and laboratory facility investments to support higher test volumes.

Management attributes the durability of the melanoma franchise to robust clinical evidence that aligns with NCCN guideline thresholds for surgical decision-making.

Full-year 2026 revenue guidance was raised to $345 million–$355 million, reflecting strong execution and momentum in the core dermatology and GI portfolios.

DecisionDx-Melanoma is expected to maintain mid to high single-digit volume growth for the full year, despite tougher year-over-year comparisons in subsequent quarters.

TissueCypher is projected to add a similar number of total test reports in 2026 as it did in 2025, implying full-year growth approaching 50%.

Management expects to provide clarity on the reimbursement landscape for the Advanced ADTx test by the end of the third quarter 2026 based on revenue cycle timelines.

The company remains on track for an FDA submission for its melanoma test sometime in 2026 following its previous Breakthrough designation.

The company is relocating to an expanded laboratory facility in Phoenix to stay ahead of anticipated demand capacity for the dermatology franchise.

Uncertainty remains regarding Medicare coverage for DecisionDx-SCC; management does not expect a draft Local Coverage Determination (LCD) until the second half of 2026.

Net cash used in operating activities of $22.1 million included non-recurring annual bonus and healthcare benefit payments typical for the first quarter.

M&A remains a strategic consideration, though management emphasized a disciplined 'Goldilocks' approach, stating they do not feel compelled to chase targets.

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Management explained the modest quarter-over-quarter decline as a result of reaching a penetration level where seasonal fluctuations in GI procedures become visible.

They emphasized that March was a record month and the positive trend continued into April, supporting a ratable ramp for the remainder of the year.

The company is currently relying on traditional governmental and private payer reimbursement but is also exploring partnerships with commercial companies interested in shifting market share.

Management expects to provide evidence-based clarity on reimbursement progress by the end of Q3 2026.

Derek Maetzold noted that clinicians are questioning recent NCCN stances, viewing them as potentially political rather than data-driven.

Recent publications in Future Oncology showing 97-98% recurrence-free survival for certain patients have reinforced clinician confidence in using the tests to guide surgical decisions.

There has been no official update from Novitas or MolDx since the previous earnings call.

Management believes the current year-plus review cycle is sufficient and expects a draft LCD posting in the second half of the year.

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