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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
23andMe
23andMe (ME) investor relations material
23andMe has been delisted
23andMe Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary28 Jul, 2025
Executive summary
Filed for Chapter 11 bankruptcy on March 23, 2025; sold substantially all assets to TTAM Research Institute for $305M, closing July 14, 2025.
Direct-to-consumer genetic testing and research services businesses ceased; only telehealth (Lemonaid Health) operations remain, with plans to sell and wind down.
All outstanding DIP financing repaid and ATM equity program terminated post-transaction.
Substantial doubt exists about ability to continue as a going concern due to asset sale and bankruptcy wind-down.
Financial highlights
Q1 FY26 revenue fell 37% year-over-year to $25.4M, driven by a $15.2M drop in PGS kit sales.
Gross profit decreased 34% to $13.5M; gross margin improved to 53% from 51% year-over-year.
Net loss from continuing operations improved to $23.8M from $55.0M year-over-year.
Adjusted EBITDA from continuing operations was $(10.7)M, a 55% improvement year-over-year.
Operating expenses down 43% year-over-year, reflecting workforce reductions and cost controls.
Outlook and guidance
No revenue-generating activities expected beyond Lemonaid Health; company plans to sell Lemonaid and fully wind down.
Distribution of asset sale proceeds to stakeholders pending outcome of Chapter 11 proceedings.
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Latest events from 23andMe
- Leveraging genetics, data, and AI to drive personalized health, research, and recurring revenue growth.ME
Investor Presentation - Revenue fell 12%, margins improved, but going concern risk persists amid restructuring.MEQ2 2025
- Revenue dropped 34% to $40.4M; net loss narrowed and a $30M cyber settlement was reached.MEQ1 2025
- Asset sale to Regeneron for $256M under Chapter 11, with TTAM backup bid at $305M.MEQ4 2025
- Revenue up on GSK deal, but liquidity crisis and going concern risk persist.MEQ3 2025
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Frequently asked questions
23andMe Holding Co. operates as a consumer genetics and research company, which engages in the provision of genetic testing services using direct-to-consumer DNA kits. It offers personal genetic information about an individual's ancestry, genealogy, and inherited traits. The company was founded by Linda Avey and Paul Cusenza in October 2006 and is headquartered in Mountain View, CA.