ME on NASDAQ

Chrome Holding Co.

Logo: 23andMe, Public domain, via Wikimedia Commons4

American personal genomics company

23andMe Research Institute is an American personal genomics and biotechnology nonprofit public benefit company based in Palo Alto, California. It provides a direct-to-consumer genetic testing service in which customers submit a saliva sample that is laboratory analysed using single nucleotide polymorphism (SNP) genotyping to generate reports on the customer's ancestry and genetic predispositions to health-related conditions.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

$189.9MRevenue, fiscal 20255
-$280.9MNet income, fiscal 20256
Apr 2006Founded1

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  • TickerME on NASDAQ1
  • Industrybiotechnology industry1
  • HeadquartersSouth San Francisco1
  • Legal formprivately held company, Delaware corporation1
  • Incorporated inDE7
  • Business address870 Market Street, Room 415, San Francisco, Ca 941027
  • Filer categoryAccelerated filer7

23andMe Research Institute is an American personal genomics and biotechnology nonprofit public benefit company based in Palo Alto, California. It provides a direct-to-consumer genetic testing service in which customers submit a saliva sample that is laboratory analysed using single nucleotide polymorphism (SNP) genotyping to generate reports on the customer's ancestry and genetic predispositions to health-related conditions. The company's name is derived from the 23 pairs of chromosomes in a diploid human cell.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

52.7%Gross margin5
-126.7%Operating margin5
-147.9%Net margin6
-13.5%Revenue growth, 20255
-$170.5MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue47¢$89.9M
  • Research and development53¢$101.6M
  • Income tax0¢$41.0K

Out of $189.9M in revenue.56 The company lost money this year.

Financial statements

Revenue910115$189.9M in 2025−38% since 2020
0$100.0M$200.0M$300.0M$400.0M2020: $305.5M$305.5M20202021: $243.9M$243.9M2021−20%2022: $271.9M$271.9M2022+11%2023: $299.5M$299.5M2023+10%2024: $219.6M$219.6M2024−27%2025: $189.9M$189.9M2025−14%
Gross profit910115$100.0M in 2025−27% since 2020
0$50.0M$100.0M$150.0M2020: $137.4M$137.4M20202021: $117.0M$117.0M2021−15%2022: $132.9M$132.9M2022+14%2023: $132.3M$132.3M2023−0%2024: $97.9M$97.9M2024−26%2025: $100.0M$100.0M2025+2%
Operating income910115-$240.6M in 2025−7% since 2020
-$600.0M-$400.0M-$200.0M02020: -$258.4M-$258.4M20202021: -$185.2M-$185.2M2021−28%2022: -$254.2M-$254.2M2022+37%2023: -$223.1M-$223.1M2023−12%2024: -$581.7M-$581.7M2024+161%2025: -$240.6M-$240.6M2025−59%
Net income9106-$280.9M in 2025+12% since 2020
-$800.0M-$600.0M-$400.0M-$200.0M02020: -$250.9M-$250.9M20202021: -$183.6M-$183.6M2021−27%2022: -$217.5M-$217.5M2022+18%2023: -$311.7M-$311.7M2023+43%2024: -$666.7M-$666.7M2024+114%2025: -$280.9M-$280.9M2025−58%
Fiscal year2019202020212022202320242025
Revenue$305.5M9$243.9M10$271.9M11$299.5M5$219.6M5$189.9M5
Cost of revenue$168.0M9$126.9M10$138.9M11$167.2M5$121.7M5$89.9M5
Gross profit$137.4M9$117.0M10$132.9M11$132.3M5$97.9M5$100.0M5
Research and development$181.3M9$159.9M10$189.4M11$116.0M5$105.0M5$101.6M5
Operating income-$258.4M9-$185.2M10-$254.2M11-$223.1M5-$581.7M5-$240.6M5
Income tax$09$010-$3.5M11-$2.8M5$73.0K5-$41.0K5
Net income-$250.9M9-$183.6M10-$217.5M6-$311.7M6-$666.7M6-$280.9M6
Earnings per share-$13.805-$28.015-$10.885
Earnings per share (diluted)-$13.805-$28.015-$10.885

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The story

Founded by Anne Wojcicki, Linda Avey and Paul Cusenza on Apr 2006.1

History

Founding and early growth (2006–2017)

Linda Avey, Paul Cusenza, and Anne Wojcicki founded 23andMe in 2006 to offer genetic testing and interpretation to individuals. Investment documents from 2007 suggest that 23andMe also intended to develop a database for research purposes. In 2007, Google invested $3.9 million in the company, along with Genentech, New Enterprise Associates, and Mohr Davidow Ventures. Wojcicki and Google co-founder Sergey Brin were married at the time.

Cusenza left the company in 2007 and Avey departed in 2009.

In 2012, 23andMe raised $50 million in a Series D venture round, nearly doubling its total capital of $52.6 million. In 2015, a $115 million Series E round brought total capital to $241 million. By late 2017, the company had raised approximately $250 million at a $1.75 billion valuation.

GlaxoSmithKline partnership (2018–2023)

On July 25, 2018, 23andMe announced a partnership with GlaxoSmithKline (GSK) in which GSK would use data from consenting customers to support drug development, investing $300 million in the company. In January 2022, the partnership was extended until July 2023 with an additional $50 million payment. In July 2020, the partnership produced its first clinical trial: a jointly developed cancer therapy.

Going public and Lemonaid acquisition (2020–2021)

The company was based in Mountain View, California, initially in North Bayshore and then downtown, until 2019, when it moved to larger headquarters in Sunnyvale. In January 2020, 23andMe laid off about 100 employees in its consumer testing division.

In December 2020, the company raised approximately $82.5 million in a Series F round, bringing total funding to over $850 million. In February 2021, 23andMe announced a merger with Sir Richard Branson's special-purpose acquisition company, VG Acquisition Corp, in a $3.5 billion transaction. The merger closed in June 2021; the combined entity, renamed 23andMe Holding Co., began trading on the Nasdaq under the ticker symbol "ME".

In October 2021, 23andMe acquired Lemonaid Health, a telehealth company, for $400 million, with the deal closing in November.

Decline and bankruptcy (2022–2025)

After reaching a market capitalization of approximately $6 billion following its public listing, 23andMe's valuation fell sharply; by early 2024 it stood at roughly 2% of its peak. Contributing factors included the company's persistent lack of profitability and the absence of recurring revenue from its one-time DNA test kits.

Read the full text

Wojcicki made several attempts to take the company private. An initial bid of $2.53 per share in February 2024 did not proceed. In July 2024, she offered 40 cents per share for all outstanding shares not already owned by her, but a special committee of the board rejected the proposal. In September 2024, all seven independent board members resigned. The company subsequently filed with the SEC indicating it was no longer open to third-party acquisition offers. Users attempting to delete their genetic data discovered that the company retained it for three years to comply with legal obligations. Further layoffs followed in November 2024.

In January 2025, 23andMe disclosed it needed additional liquidity and was exploring strategic alternatives including a potential sale. Wojcicki made a third offer of 41 cents per share in March 2025. On March 23, 2025, 23andMe filed for Chapter 11 bankruptcy protection as part of a plan to sell its assets, listing assets and liabilities each between $100 million and $500 million. Wojcicki stepped down as CEO and was replaced by CFO Joe Selsavage. Trading in the company's shares was suspended on March 31 and the stock was delisted from Nasdaq, subsequently trading over-the-counter.

California Attorney General Rob Bonta issued a consumer privacy alert reminding Californian users of their right to request deletion of their genetic data.

TTAM acquisition (2025)

The initial bankruptcy auction was won by Regeneron Pharmaceuticals for $256 million. As part of that agreement, Regeneron would have acquired all units of 23andMe except its telehealth service Lemonaid Health. However, the bankruptcy court reopened the auction after Wojcicki argued that her nonprofit, TTAM Research Institute, had been unfairly excluded from the bidding process. In the final round, TTAM submitted a winning bid of $305 million. 23andMe had separately announced it would cease being a public company and deregister from the SEC effective June 6, 2025.

TTAM completed the acquisition of substantially all of 23andMe's assets—including the Personal Genome Service, Research Services, and Lemonaid Health—on July 14, 2025. TTAM committed to honouring 23andMe's existing privacy policies, establishing a Consumer Privacy Advisory Board, and restricting future sale or transfer of genetic data unless any new owner adopted equivalent privacy protections.

Product history and pricing

Product tiers

In late 2009, 23andMe briefly split its service into three products—an Ancestry Edition, a Health Edition, and a Complete Edition—but recombined them a year later. A monthly subscription for research-based updates, introduced in late 2010, proved unpopular and was eliminated in mid-2012.

From November 22, 2013, to October 21, 2015, 23andMe sold only raw genetic data and ancestry-related results in the US due to FDA restrictions, after which it resumed providing health information in the form of carrier status and wellness reports.

Pricing

The US price declined from $999 at launch in 2007 to $399 in 2008 and to $99 in 2012, effectively serving as a loss leader to build the customer database. In October 2015, the price was raised to $199. In September 2016, an ancestry-only version was reintroduced at $99 with an optional $125 health upgrade. The product launched in Canada in October 2014 at CA$99 and in the United Kingdom in December 2014 at £125.

Ancestry and diversity initiatives

In February 2018, 23andMe enhanced its ancestry reporting to provide country-level rather than region-level estimates, adding 120 new regions. Acknowledging gaps in genomic data for Asia and Africa, the company launched the African Genetics Program in October 2016 (supported by a National Institutes of Health grant) to recruit sub-Saharan African participants. This was expanded into the Global Genetics Program in February 2018, targeting 61 underrepresented countries, and the Populations Collaboration Program in April 2018, establishing formal research partnerships.

23andMe+ and Lemonaid Health

In October 2020, 23andMe launched "23andMe+", a subscription service priced at $29 per year, offering additional health and pharmacogenetic reports to Health + Ancestry customers genotyped on version 5 of its microarray chip. In late 2021, the company completed its $400 million acquisition of Lemonaid Health, a telehealth company.

2023 data breach

In October 2023, a significant data breach was disclosed. Hackers accessed data on approximately 6.9 million users—roughly half of 23andMe's customers at the time—through a credential stuffing attack. Stolen data included names, addresses, and genetic information, and was subsequently offered for sale online. The affected accounts had enabled the platform's "DNA Relatives" feature, and the attack specifically targeted Ashkenazi Jewish and Chinese-descent users.

In June 2025, the UK's Information Commissioner's Office (ICO) fined 23andMe £2.31 million for failing to adequately protect user data, citing inadequate security measures—including the absence of multi-factor authentication—and a slow response to the breach.

In May 2026, the California Attorney General filed a lawsuit against 23andMe for failure to safeguard sensitive personal information under the California Consumer Privacy Act (CCPA) and other related privacy statutes.

From Wikipedia’s article on 23andMe, shared under CC BY-SA 4.0.8

Leadership

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2010201520202025
Board members and other officers (1)

Products and brands

  • genetic testing

Listed on Wikidata.1

Technology

23andMe began offering direct-to-consumer genetic testing in November 2007. Customers submit a saliva sample from which DNA is extracted and amplified. The amplified DNA is applied to a glass microarray chip manufactured by Illumina, which contains microscopic beads, each bearing a gene probe complementary to a specific genetic variant. Where the customer's DNA matches a probe, the sequences hybridise and a fluorescent label indicates the variant is present. The platform tests hundreds of thousands of variants out of the approximately 10 to 30 million present in the human genome, and the results are compiled into reports informing the customer about variants associated with conditions such as Parkinson's disease, celiac disease, and Alzheimer's disease. In 2008, when the company was offering estimates of predisposition for more than 90 traits and conditions, Time magazine named the product "Invention of the Year".

Customers can download their uninterpreted raw genetic data and view results by chromosome, including mitochondrial DNA, to compare their variants with common population frequencies. Ancestry customers have access to genealogical DNA test tools, including a relative-matching database, and can view their mitochondrial haplogroup (maternal lineage) and, if male or if a patrilineal relative has been tested, their Y chromosome haplogroup (paternal lineage). US customers who received health-related results before November 22, 2013, retain online access to assessments of inherited traits and genetic disorder risks. Health-related results for US customers who purchased the test from November 22, 2013, were suspended until late 2015 while undergoing FDA regulatory review. Customers in Canada and the United Kingdom have access to some, but not all, health-related results.

23andMe is commonly used by donor-conceived people to find biological siblings and, in some cases, their sperm donor or egg donor.

Instrument and chip versions

Until 2010, Illumina sold its genotyping instruments labelled "for research use only"; in early 2010, Illumina obtained FDA approval for its BeadXpress system for clinical use.

Read the full text

Research

Overview

Over 80% of 23andMe customers have opted in to having their data used for research. The company's research programme has produced hundreds of peer-reviewed publications using its large genotyped and phenotyped participant database. Aggregated customer data is studied by researchers employed by 23andMe and through collaborations with academic, government, and pharmaceutical partners; de-identified customer data has also been licensed to pharmaceutical and biotechnology companies. In July 2012, 23andMe acquired CureTogether, a crowdsourced treatment ratings startup with data on over 600 medical conditions.

23andMe offers an optional consent allowing individual genetic information to be included in research published in scientific journals. However, even without this consent, de-identified genetic and self-reported data may be shared with the company's third-party service providers.

Parkinson's disease

In 2010, 23andMe reported using its database to validate NIH-published work identifying mutations in the glucocerebrosidase gene as a risk factor for Parkinson's disease. In 2015, the company began pursuing in-house drug discovery under former Genentech executive Richard Scheller, with Parkinson's disease as a primary focus.

Inflammatory bowel disease

23andMe established research agreements with Pfizer to investigate the genetic basis of inflammatory bowel disease, including ulcerative colitis and Crohn's disease.

Depression and psychiatric disorders

In 2016, 23andMe used self-reported customer data to identify 17 genetic loci associated with depression. In 2017, the company began collaborations with Lundbeck and the Milken Institute focusing on the genetics of bipolar disorder and major depression, with aims of advancing drug discovery.

COVID-19

In June 2020, 23andMe published preliminary results suggesting that people with type O blood may be at lower risk of COVID-19 infection. Among more than 750,000 participants, those with type O blood were 9–18% less likely to contract the virus, and those who had been exposed were 13–26% less likely to test positive. The study was published in April 2021 in Nature Genetics. Subsequent research examined genetic associations with COVID-19 symptoms such as loss of taste or smell, vaccine reactions across different ethnicities, and risk factors for long COVID. Findings on long COVID were presented at the 2023 ASHG conference.

Pharmacogenomics

In 2026, the 23andMe Research Institute published a genome-wide association study in Nature identifying genetic variants associated with variation in weight loss and side effects among users of GLP-1 receptor agonist medications.

Other research

In 2016, a project to offer customers next-generation sequencing was ended; Wojcicki cited concerns that results would be too complex for direct-to-consumer presentation.

From Wikipedia’s article on 23andMe, shared under CC BY-SA 4.0.8

Former names

  • 23andMe Holding Co.Jun 21, 2021 to Aug 4, 20257
  • 23andMe Holding CoJun 17, 2021 to Aug 14, 20251
  • VG Acquisition Corp.Sep 16, 2020 to Jun 17, 20217
  • Bleecker Street Acquisition Corp.Mar 6, 2020 to Aug 12, 20207
  • 23andMe, Inc.until Jun 16, 20211

Timeline

  1. Aug 14, 2025Renamed Name changed to Chrome Holding Co.1
  2. Jun 17, 2021Went public Listed on NASDAQ1
  3. Apr 2006Founded Founded1
  4. 2006New chief executive Anne Wojcicki becomes CEO1

Recent filings

  1. Dec 4, 20258-K
  2. Nov 17, 20258-K
  3. Nov 4, 20258-K
  4. Oct 6, 20258-K
  5. Oct 1, 20258-K
  6. Sep 22, 20258-K
  7. Sep 11, 20258-K
  8. Aug 22, 20258-K
  9. Aug 21, 20254
  10. Aug 18, 20258-K
  11. Aug 15, 20258-K
  12. Aug 4, 202510-Q
  13. Jul 25, 202510-K/A
  14. Jul 14, 20258-K
  15. Jun 30, 20258-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2