23andMe Holding Co. is a personal genomics and biotechnology company that provides direct-to-consumer genetic testing services, ancestry and health reports, telehealth, and genetic research services.

# Summary of 23andMe Holding Co.

## Overview
- **Mission:** To help people access, understand, and benefit from the human genome.
- **Primary Business:** Pioneered direct-to-consumer genetic testing; operates the world's largest crowdsourced platform for genetic research.
- **Services & Platforms:**
  - **Genetic Testing & Reports:**
    - Provides over 65 health and carrier status reports (available in the U.S.).
    - Ancestry and health predisposition reports.
    - Personalized reports on genetic risks, traits, ancestry, and pharmacogenetics.
    - Membership services like 23andMe+ Premium and Total Health.
  - **Telehealth:** Connects patients with licensed healthcare professionals for consultations, treatment, and prescriptions via Lemonaid Health platform.
  - **Research Business:** Uses genetic and phenotypic data of millions of engaged customers for biological insights to support drug discovery and development.
  - **Partnerships:** Previously collaborated exclusively with GSK; now pursuing multiple non-exclusive research collaborations.
  - **Product Reach:** Available in the U.S., Canada, U.K., and globally; extensive use of digital channels including its website, app, Amazon, and Walmart.com.

## Recent Changes & Strategic Actions
- **Chapter 11 Bankruptcy:** Filed on March 23, 2025.
- **Asset Sale:** Approved sale of substantially all assets to Regeneron for $256 million, excluding the Excluded Assets (the "Excluding Business" - Lemonaid health operations).
- **Operational Shift:** Discontinued Therapeutics segment in November 2024; now operates primarily as a single segment.
- **Employees:** As of March 31, 2025, employed **265 employees** (all U.S.-based, full-time).
- **Customers:**
  - As of March 31, 2025: Approximately **14.4 million PGS customers**.
  - As of May 31, 2025: Approximately **14.0 million PGS customers**.
  - 23andMe+ Premium members: About **527,000** as of May 31, 2025.
  - Total Health membership: Launched in November 2023, with current members not specified beyond the member count for 23andMe+.
- **Revenue & Income:**
  - **Revenue (Fiscal 2025):** Specific total revenue figures are not included in the excerpt.
  - **Revenue Composition:**
    - Over **74%** of revenue derived from Personal Genome Service (PGS) in fiscal 2025.
    - Membership revenue (e.g., 23andMe+ Premium) accounted for about **19%** of total revenue in fiscal 2025.
  - **Financial Impact of Bankruptcy:** Operating results have been negatively impacted; uncertain future profitability.

## Business Focus
- **Key Offerings:**
  - Genetic testing kits with reports on ancestry, health risks, carrier status, and traits.
  - Membership services providing ongoing updates and advanced features.
  - Telehealth services including medication delivery via Lemonaid Health.
  - Research access for pharmaceutical and academic clients to genetic data.
- **Research & Collaboration:** Supports drug target discovery and validation, with previous exclusive collaboration with GSK; now engaged in multiple non-exclusive research agreements.
- **Market & Growth:**
  - Focused on empowering consumers with genetic and health insights.
  - Envisions shifting healthcare towards personalized, gene-informed wellness and medical care.
- **Recent Developments:**
  - Reduced workforce and operations in Nov. 2024.
  - Pending sale of most assets due to bankruptcy proceedings.
  - Stock delisted from Nasdaq and traded OTC Pink Market since March 31, 2025.

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*Note:* All data points and information pertain specifically to the company's current state, as provided, with no assumptions or future projections.

23andMe Holding Co. provides direct-to-consumer genetic testing and a platform for genetic research to help individuals understand their genomic data.

# Company Overview: 23andMe Holding Co.

## Mission
23andMe aims to help people access, understand, and benefit from the human genome through direct-to-consumer genetic testing and a crowdsourced platform for genetic research.

## Key Services
1. **Personal Genome Service® (PGS)**
   - Provides a suite of genetic reports on health risks, ancestry, and traits.
   - As of March 31, 2024, offers over 65 health and carrier status reports in the U.S.
   - Three primary services:
     - **Ancestry Service**: Genetic ancestral origins and trait influences.
     - **Health + Ancestry Service**: Includes health predispositions and carrier status.
     - **23andMe+ Premium Membership**: Offers pharmacogenetic reports and polygenic risk score reports based on customer data.

2. **Telehealth Platform - Lemonaid Health**
   - Offers medical consultations and treatment for common health conditions.
   - Patients can interact online with licensed healthcare professionals and fill prescriptions through an affiliated pharmacy.

3. **Research Services**
   - Utilizes a growing database of genetic and phenotypic information from research participants (over 15.1 million PGS customers).
   - Collaborations with universities, research institutions, and pharmaceutical companies to support drug discovery.

## Financials
- **Customers**: Approximately 15.1 million PGS customers as of March 31, 2024.
- **Memberships**: About 562,000 members of 23andMe+ Premium as of March 31, 2024.
- **Employees**: 582 employees worldwide as of March 31, 2024, entirely U.S.-based.
- **Revenue**: 
  - Total Consumer & Research Services revenue represents approximately 76% of total revenues for fiscal year ending March 31, 2024.
  - Reported revenues for the fiscal year ending March 31, 2024, at $218.0 million.
- **Net Income**: 
  - Net loss of $666.7 million for the fiscal year ending March 31, 2024.
  - Accumulated deficit of $2.2 billion as of March 31, 2024.

## Business Segments
1. **Consumer and Research Services**
   - Main contributor to revenue with various genetic health risk and ancestry reports.
   - Customers have the option to participate in research programs, enhancing the database for further insights.

2. **Therapeutics**
   - Focus on developing genetically validated therapeutic candidates, with two programs in clinical development.
   - Collaboration with GlaxoSmithKline (GSK) for drug discovery, leveraging a proprietary genotypic and phenotypic database.

## Market Position
- Pioneered direct-to-consumer genetic testing and remains the only company with FDA authorization for all its carrier status, genetic health risk, cancer predisposition, and pharmacogenetics reports.

## Challenges
- The company faces competition in both its consumer and therapeutics segments, with evolving regulations and significant investment requirements for ongoing research and product development.

23andMe Holding Co.

10-K / June 11, 2025

10-K / May 30, 2024

10-K / June 11, 2025

Summary of 23andMe Holding Co.

Overview

Recent Changes & Strategic Actions

Business Focus