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- **Revenue Supercharge**: 113% YoY growth ($720M+ 2025) driven by 121% mol prof services, 18% pharma R&D.
- **AI-Powered Margins**: 68% gross margin (Q3 2025) vs 43.7% 2024, ASPs up 15% tissue, 18% blood.
- **Pipeline Breakthroughs**: MRD 96% sensitivity, whole genome early detection enrolling 16,000+ subjects.
- **Cash Flow Dominance**: $55M free cash flow,3Q25, balance sheet $760M.
- **2025 Outlook**: 21-22% clinical growth, 68%+ gross margin target.
- **Strategic Wins**: 80%+ MRD accuracy, 18% blood ASP growth.
- **Pipeline Momentum**: Early detection, MRD, pharma R&D expansion.
- **Execution Excellence**: 68% gross margin, 15% ASP expansion.
- **Future Growth**: 2025+ pipeline with whole genome sequencing, MRD commercialization.

**【CEO Summary Section】**
- CEO highlighted Q3 2025 revenue growth of 113% YoY, driven by molecular profiling services ($207.6M, +121% YoY) and pharma R&D ($9.2M, +18.3% YoY). 
- Emphasized AI-driven early detection pipeline progress, with ACHIEVE-1 whole genome study enrolling 16,000 subjects and ACHIEVE-2 targeting 25,000 high-risk individuals.
- Gross margin improved to 68% (Q3 2025) from 43.7% (Q2 2025), with ASPs rising to $3,600+ for tissue and $2,377 for blood.

**【CFO Financial Commentary】**
- GAAP net income $24.3M, non-GAAP EPS $1.08 vs. $0.85 prior guidance.
- Free cash flow $55.3M, up 125% YoY, with balance sheet strength at $760M.
- 2025 guidance updated to $720-730M revenue (+75% YoY), 21-22% clinical case volume growth.
- 2025 gross margin target 68%+ vs. 43.7% 2024, driven by ASP expansion and lab efficiency gains.

**【Q&A Highlights】**
- MRD pipeline progress: Colorectal cancer MRD solution showing 96.3% sensitivity vs. 80%+ recurrence prediction accuracy.
- Blood ASPs up 18% Q3, tissue ASPs up 15% YoY, with 2025 ASP guidance $3,600+ tissue, $2,377 blood.
- Early detection pipeline: Whole genome sequencing for early cancer detection in development, with 18,600 subjects enrolled in ACHIEVE-1.
- Pharma R&D services up 18.3% YoY, with multi-year partnerships in pipeline.
- 2025 gross margin target 68%+, up from 43.7% 2024

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