23andMe Makes Some Gains in Increasing Recurring Revenue -- Market Talk

Dow Jones11-13

1157 ET - 23andMe's efforts to make its business model sustainable are bearing fruit, but very slowly. The genetic-testing company's CEO Anne Wojcicki says that more than 21% of its total revenue was recurring in the second quarter, up from 9% in the prior year quarter. Still, the company has yet to figure out how to keep demand for its DNA products strong as it decides to shut down its drug development business. 23andMe's total revenue dropped 12% in the second quarter due to lower Personal Genome Service test kit sales volume. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

November 12, 2024 11:57 ET (16:57 GMT)

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Still, the company has yet to figure out how to keep demand for its DNA products strong as it decides to shut down its drug development business. 23andMe's total revenue dropped 12% in the second quarter due to lower Personal Genome Service test kit sales volume. 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Still, the company has yet to figure out how to keep demand for its DNA products strong as it decides to shut down its drug development business. 23andMe's total revenue dropped 12% in the second quarter due to lower Personal Genome Service test kit sales volume. 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