Invitae’s Revenue by Segment (2016-2023)

This statistic highlights Invitae’s Revenue by Segment, split across Biopharma partner, Direct patients, Institutions, Insurance patients, and Other business to business segments, reported on a quarterly basis from Q1 2016 onwards.

Invitae provides genetic testing services that assist patient care for a lifetime, from hereditary illness diagnosis, family planning, preventive healthcare screening, tailored diagnosis, therapy, and cancer monitoring. These tests are conducted through a unique platform, which rapidly expands to assist patients, healthcare professionals, biopharmaceutical firms, and other partners to gain wider potential of genetics and thus to increase their usage along the continuum. Invitae uses a unique design, process automation, robotics, and software solutions in the field of bioinformatics to achieve sample processing efficiency and complicated variant interpretation that enables medical interpretation on a scale. This resulted in a new and simpler approach to collect and use high-quality, accessible genetic information for crucial choices in healthcare.

Invitae’s Revenue by Segment

(All figures in millions, except percentages)

Invitae’s total revenue increased from $64.25 million in Q1 2020 to $103.63 million in Q1 2021, marking a 61.29% growth on a year-on-year basis.

Invitae Corporation’s revenue is further bifurcated into the following segments:

Biopharma partner

Invitae with Biopharma partners provides free testing to individuals who satisfy the requirements for particular diseases. Invitae’s strategy blends cutting-edge genetics with a large network of patients and physicians.

The Biopharma partner segment generated $13.72 million in Q1 2021 which accounted for 13.24% of the company’s total revenue. The revenue was declined from $31.55 million in Q4 2020.

Direct patient

Invitae’s revenue from the Direct patient segment increased from $5.79 million in Q1 2020 to $8,95 million in Q1 2021, a growth of 54.58% on a year-on-year basis. During this period, this segment contributed 8.64% to the company’s total revenue.

Institutions

The Institutions segment generated $13.50 million in Q1 2020 which accounted for 13.24% of the company’s total revenue. The revenue was declined from $31.55 million in Q4 2020.

Insurance patient

The majority of Invitae’s revenue was generated through the insurance patient segment accounting for 58.76% of the company’s t0tal revenue in Q1 2021, amounting to $60.89 million. It grew by 39.05% compared to $443.79 million earned in Q1 2020.

Other business to business

The Other business-to-business (B2B) segment generated $20.06 million in Q1 2021 which accounted for 19.36% of the company’s total revenue.

Company Overview

Locus Development, Inc. was incorporated in the state of Delaware On January 13, 2010, and later renamed Invitae Corporation in 2012. Sean George is the current CEO of the company. It is headquartered in San Francisco, California, United States. The company employed 2100 people by the end of March 2021. Invitae has acquired Good Start Genetics and CombiMatrix in 2017. It also announced the acquisition of ArcherDX in 2020 for $1.4 billion. Invitae Corporation was created as a subsidiary of Genomic Health. Its common stocks are listed on the New York Stock Exchange under the ticker ‘NVTA’.

Invitae Corporation faces tough competition from Natera, Quest Diagnostics, Bio-Reference Laboratories, Ambry Genetics, and Progenity.

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