Invitae Pitch Deck (2016): 29-Slide Breakdown

Invitae’s May 2016 investor overview serves as a strategic roadmap for moving genetic information into mainstream medicine. The company identifies a massive market opportunity where 'rare' genetic conditions are common in the aggregate, affecting virtually everyone through carrier status or pharmacogenetics. By aggressively lowering costs—reducing COGS per sample from $1,250 in Q1 2015 to $612 in Q1 2016—and expanding their test menu to over 1,000 genes, Invitae demonstrated a classic flywheel effect. The deck emphasizes clinical validity, citing 100% analytical concordance for BRCA testing,…

Key takeaways

• Invitae positions genetic testing as a multi-billion dollar industry that is currently fragmented and prohibitively expensive (Slide 5).
• The company achieved a 51% reduction in COGS per sample in just one year, dropping from $1,250 in Q1 2015 to $612 in Q1 2016 (Slide 16).
• Growth in billable reports is highly correlated with sales force expansion, moving from 0 reps and 229 reports in 2013 to 21 reps and over 19,000 reports in 2015 (Slide 13).
• Clinical validity is a core pillar, with the company claiming 100% analytical concordance and 99.8% clinical concordance for BRCA testing in a 1,000-patient study (Slide 10).
• The business model is built on three phases: Genetic Testing, Genome Management, and finally, a Genome Network for monetizing data sharing (Slide 22).
• Invitae uses transparent pricing below $1,000 to disrupt a market where complex tests previously cost tens of thousands of dollars (Slide 5).
• The 'flywheel for future growth' relies on attracting partners and lowering costs to drive volume, which in turn allows for further price reductions and content expansion (Slide 28).
• Gross margin per sample showed a steady upward trend toward break-even, improving from approximately -$700 in Q1 2015 to roughly -$200 by Q1 2016 (Slide 19).

Frequently asked questions

What is Invitae's core value proposition to the medical market?

Invitae aims to bring genetic information into mainstream medical practice by solving the issues of high cost and fragmentation. According to Slide 5, they provide 'comprehensive content across all disease areas' with 'open and transparent pricing below $1,000.' This contrasts with the existing market where quality is variable and prices for complex tests can reach tens of thousands of dollars with months-long turnaround times.

How does Invitae justify the market size for genetic testing?

Slide 4 argues that 'rare' genetic conditions are common in the aggregate. It notes that 5-10% of all cancers likely have a hereditary basis, and ~100% of people are carriers for mutations that could cause severe illness in offspring if the other parent carries the same mutation. By totaling these segments—including cardiology, neurology, and pharmacogenetics—they argue the market affects 'everyone.'

What evidence of operational efficiency does the deck provide?

The deck provides specific unit economics on Slide 16. It tracks the 'COGS per sample' declining from $1,250 in Q1 2015 to $612 in Q1 2016. Simultaneously, it shows the volume of billable reports increasing from 2,200 to 9,700 in the same period, demonstrating that the company is successfully leveraging economies of scale to drive down the cost of sequencing.

What is the long-term vision beyond just selling lab tests?

Slide 22 outlines a three-phase business model. While Phase 1 is 'Genetic Testing' (high volume, low price), the long-term goal is Phase 3: the 'Genome Network.' This involves sharing genetic information on a global scale to advance clinical outcomes and 'monetizing networks for permission-based sharing of genetic information,' suggesting a transition into a data-platform company.

How does Invitae address concerns about the accuracy of low-cost testing?

Invitae addresses quality head-on by comparing itself to the industry incumbent, Myriad. Slide 10 cites a 1,000-patient study demonstrating 100% analytical concordance and 99.8% clinical concordance for BRCA testing. They also point to peer-reviewed science published in journals like JAMA Oncology to demonstrate clinical utility beyond standard guidelines.

Invitae pitch deck: the facts

Company

Invitae

Year

2016

Stage

Public (Post-IPO Overview)

Slides

29

Sector

Genomics / HealthTech

Deck type

Investor Overview

Outcome

Active (at time of deck)

Headquarters

San Francisco, CA

Invitae pitch deck PDF

The full Invitae deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Invitae Corporation pitch deck was used for

This deck is Invitae’s May 2016 investor overview, prepared as a public, post‑IPO investor relations presentation (29 slides) rather than a private venture fundraising pitch. It was published after Invitae’s February 2015 IPO on the NYSE under the ticker NVTA and before its November 2016 seasoned equity offering of common stock. The presentation positions Invitae as a rapidly scaling clinical genetics platform transitioning the market from expensive, fragmented testing toward a high‑volume, low‑cost genome management network, highlighting growth in billable reports, cost per sample reduction, and the path to positive gross margins. While not tied to a specific private round, it likely supported ongoing public‑market investor engagement and set the stage for later follow‑on offerings in 2016.

Business model: Invitae is a medical genetics company that provides diagnostic genetic testing services across numerous hereditary conditions and aims to build a high‑volume, low‑cost genome information network.

Investors

J.P. Morgan Securities LLC (sole book‑running manager for the 2016 public offering of common stock)., Cowen and Company, LLC (co‑manager for the 2016 public offering of common stock).

Headquarters

Invitae is headquartered in San Francisco, California.

Industry

Genetic testing / clinical genomics / health technology.

Round: Public follow‑on offering (seasoned equity offering) of common stock after IPO.

Year: 2016 (offering pricing announcement dated November 17, 2016, with expected closing around November 22, 2016).

Raised: Invitae announced an underwritten public offering of 7,333,333 shares of common stock at $6.00 per share, with expected gross proceeds of approximately $44 million before underwriting discounts, commissions, and other expenses.

Lead investor: J.P. Morgan Securities LLC (sole book‑running manager for the November 2016 underwritten public offering).*

What happened after the Invitae Corporation deck

Following its 2015 IPO, Invitae used investor overview decks, including the May 2016 presentation, to communicate its strategy of transforming genetic testing into a high‑volume, low‑cost genome management network, supported by rapid growth in billable reports, expanding gene panels, and falling costs per sample. Subsequent 2016 data show continued revenue growth, a positive gross margin per repor

• Invitae’s common stock began trading publicly on the New York Stock Exchange in February 2015 under the symbol NVTA foll
• By 2015, Invitae had expanded its test menu from about 200 genes to over 1,000 and increased annual billable reports to
• In November 2016, Invitae completed an underwritten public offering of 7,333,333 shares of common stock at $6.00 per sha
• For the full year 2016, Invitae reported revenue of approximately $25.0 million and a net loss of about $100.3 million,
• By Q4 2016, Invitae achieved a positive gross margin per report, supported by lower cost per sample and higher billable

What the Invitae Corporation deck got right

• Clear market‑transformation narrative tied to unit economics. The deck presents a compelling transformation story: moving clinical genetic testing from a fragmented, high‑cost service business to a unified, high‑volume, low‑cost genome network, anchored in measurable improvements in cost per sample and test volume. This directly addresses investor concerns about scalability and margins.
• Demonstrated volume and revenue growth. Invitae showcases strong traction by highlighting rapid growth in billable reports—from hundreds in 2013 to tens of thousands by 2015—and corresponding revenue increases, establishing credibility that demand exists for its expanded test menu.
• Documented cost reduction and improving unit economics. The deck emphasizes significant reductions in cost per sample (from about $1,250 to roughly $700 across 2015), which underpins the shift to a low‑cost model and provides a concrete, data‑driven argument for improving gross margins over time.
• Broad and expanding clinical test menu. Invitae’s expansion of its test menu from approximately 200 genes to more than 1,000 by 2016 demonstrates growing clinical breadth and suggests increasing relevance to physicians and patients, an attractive characteristic for investors seeking long‑term platform value.
• Validation of gross margin thesis in later data. Subsequent investor materials show that by Q4 2016 Invitae had achieved a positive gross margin per report, validating the trajectory outlined in the May 2016 deck and reinforcing confidence in the business model’s economic viability.
• Consistent investor communications across 2016. The existence of multiple, consistent investor decks in 2016 (April, May, July) with aligned metrics and messaging indicates a mature investor‑relations function and helps public‑market investors track execution against stated goals.

What could have been stronger

• No explicit round terms or capital ask in the deck. Because this is a public investor overview rather than a private fundraising deck, it does not clearly state a specific capital ask, use of proceeds, or runway assumptions, making it harder for a reader to tie the operational plan directly to financing needs. Later that year, Invitae executed a public offering, but that connection is not explicit in this deck.
• Thin competitive landscape and differentiation analysis. The deck focuses heavily on test menu expansion, billable report growth, and cost reductions, but offers limited discussion of competitive positioning versus other clinical genetics labs or emerging genomics platforms, which would be important context for investors assessing durability of growth.
• Limited transparency on customer‑level unit economics. While historical revenue and volume metrics for 2015 are shown, the materials available around this timeframe provide limited detail on cohort‑level unit economics (e.g., per‑customer acquisition cost, retention, and lifetime value), which could help investors evaluate scalability beyond high‑level gross margin trends.
• Underemphasis of ongoing operating losses and cash burn. Subsequent filings show Invitae was still generating substantial net losses in 2016 despite revenue growth, but the investor overview emphasizes the path to positive gross margins more than the continuing magnitude of operating losses and cash burn. That framing may underemphasize risk around the time needed to reach overall profitability.

How an investor would read this deck

What draws attention

• Trajectory of billable reports and sample volume growth from 2013 through 2015, with emphasis on the jump from hundreds to tens of thousands of reports and associated revenue scaling.
• Evidence of declining cost per sample (from roughly $1,250 to about $700 over 2015), supporting the thesis that genetic testing can become a high‑volume, low‑cost business with improving gross margins.
• Expansion of Invitae’s test menu from ~200 genes to more than 1,000 genes, indicating broader clinical relevance and potential for increased demand.
• Progression of gross margin per report from strongly negative in early 2016 to positive by Q4 2016 in later materials, validating the unit‑economics story outlined in the overview deck.
• Balance sheet and cash position used to fund growth and the eventual November 2016 public offering, which together inform runway and financing risk.

Risks that stand out

• Invitae’s 2016 filings show substantial net losses (over $100 million in 2016) despite revenue gains, highlighting ongoing operating and cash‑flow risk even as gross margins improve.
• Execution risk in continuing to drive down cost per sample while scaling volume and maintaining quality and turnaround times in a regulated clinical environment.
• Reimbursement and payor‑contracting risk, given that clinical genetic testing revenue depends heavily on insurance coverage, payment rates, and policies that could change over time.
• Competitive risk from other genetic testing providers and broader genomics platforms seeking to offer similar panels or exome/genome services, potentially pressuring prices and margins.
• Capital markets risk, as Invitae relied on public offerings (like the November 2016 raise) to fund operations while still loss‑making, exposing investors to dilution and market volatility.

Questions this deck invites

• How did Invitae’s billable report volume, revenue, and cost per sample evolve from 2016 onward, and did growth rates and cost reductions remain consistent with the trends presented in the May 2016 overview?
• What were the key drivers of Invitae’s positive gross margin per report by Q4 2016 (e.g., payer mix, pricing, lab efficiency), and how sustainable were those drivers in later years?
• How did Invitae’s competitive position in clinical genetic testing (against other labs and emerging genomics platforms) change after 2016, particularly in terms of payor contracts, clinician adoption, and technology differentiation?
• What was the impact of the November 2016 public offering on Invitae’s runway and strategic flexibility, and how did subsequent capital raises or acquisitions influence shareholder dilution and value creation?
• To what extent did Invitae achieve the longer‑term objectives implied by the deck (large‑scale genome management network, significantly lower testing costs, and sustained profitability), based on later annual reports and investor presentati

What founders can take from the Invitae Corporation deck

• Positioning a company as transforming an existing market (from high‑cost, fragmented services to a scalable, low‑cost network) can create a clear strategic narrative that ties together technology, operations, and economics, as Invitae does in its 2016 overview.
• Showing multi‑year operational data (billable reports, revenue, and cost per sample) helps investors understand whether improvements are structural trends rather than one‑off events, which Invitae illustrates by presenting 2013–2015 metrics.
• Demonstrating a path from negative to positive gross margins per report, even while the company remains overall loss‑making, can reassure investors about unit‑economics viability if supported by credible data, as later Invitae materials do for Q4 2016.
• Consistency across multiple investor decks (April, May, July 2016) in messaging and metrics reinforces credibility and makes it easier for public‑market investors to track progress over time.
• Public investor presentations for post‑IPO companies can double as soft fundraising tools for future follow‑on offerings, by articulating growth, cost reduction, and capital needs even without explicit round terms, as seen ahead of Invitae’s November 2016 offering.
• Highlighting both clinical breadth (e.g., test menu size) and economic improvements (costs, margins) can appeal to investors who care about long‑term competitive moats as well as near‑term financial performance.

Invitae Corporation pitch deck: common questions

What does Invitae do?

Invitae is a medical genetics company that offers clinical genetic testing across a broad range of hereditary diseases, aiming to consolidate a historically fragmented market into a single, scalable genome information network. Its core product is multi‑gene panel and other diagnostic tests that physicians order for patients, with Invitae handling sequencing, interpretation, and reporting.

Was the May 2016 Invitae deck a fundraising pitch for a venture round?

The May 2016 investor overview was created as a public investor relations presentation for existing and prospective shareholders following Invitae’s 2015 IPO on the NYSE. It focuses on business model, growth metrics, and unit economics rather than a private term sheet, and was part of ongoing efforts to explain the company’s strategy to public‑market investors.

What traction and growth did Invitae highlight around 2015–2016?

By late 2015 and into 2016, Invitae had expanded its test menu from roughly 200 genes in 2013 to over 1,000 genes, while dramatically increasing volume: one 2016 investor deck reports 19,000 billable reports in 2015 versus only 229 in 2013. Costs per sample fell from about $1,250 in Q1 2015 to around $700 in Q4 2015, with revenue rising from $1.2 million in Q1 2015 to $3.2 million in Q4 2015.

What was the main message of Invitae’s 2016 investor overview deck?

The deck emphasizes that Invitae is moving genetic testing from a high‑cost, low‑volume, fragmented service business toward a scalable, high‑volume, low‑cost network, using falling costs per sample, growing billable reports, and improving gross margin per report as evidence. Later materials show that by Q4 2016 the company had achieved a positive gross margin per report, supporting that narrative.

What financing events around 2016 are relevant to this investor overview deck?

Invitae completed its initial public offering in early 2015 and subsequently used investor decks (including the May and July 2016 overviews) to communicate performance and strategy to public investors. In November 2016, Invitae priced an underwritten public offering of 7,333,333 shares of common stock at $6.00 per share, targeting approximately $44 million in gross proceeds before expenses, led by J.P. Morgan with Cowen as co‑manager.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

• [PDF] Invitae Corporation - Annual Reports
• Nvta investor overview may 2016
• EX-99.1 - SEC.gov
• Invitae Announces Pricing of Public Offering of Common Stock
• invitaeir
• © 2016 Invitae Corporation. All Rights Reserved.
• 2016 Q4 call slides
• © 2016 Invitae Corporation. All Rights Reserved.

Invitae pitch deck slides

What each slide of the Invitae pitch deck says

Slide 1

| |— — ESSE— Es INVITAE: Bringing genetic information into mainstream medical practice OVERVIEW FOR INVESTORS MAY 2016

Slide 2

EB 2 EEE EW ODENSE SES— Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's expectations regarding its plans for 2016, including revenue levels, the cost of goods sold, the number of billable tests delivered, the number of genes in its test menu, and the nature and extent of future reimbursement coverage; the company's expectations regarding continued growth in 2016; and the timing of any new testing service releases and the benefits and attributes of any such services. Forward-looking statements are subject to risks and uncertainties that could…

Slide 3

I EE. aE. ESSN w=» 2 ? Invitae’s story: Bringing genetics into mainstream medicine to help billions of people Everyone has a unique There are over 4,000 medically High quality, low priced genome that has a significant important genetic tests today — genetic testing will dramatically impact on their health most of which are over-priced increase the total market to and under-utilized everyone with access to healthcare 2) Zz hd URCIERE ©2016 Invitae Corporation. All Rights Reserved. 3

Slide 4

I a. a. IESE = Genetic conditions affect everyone “Rare” genetic conditions are actually common in the aggregate Hereditary Pediatric ad 1in 20 to 1in 10 of all genetics 1 in 50 new births result in a ELT LDA cancers are likely to ~2% complication involving a have a hereditary basis £ genetic condition Cardiology 1 in 250 people has a Preventive 1in 20 to 1 in 50 healthy people gene mutation that may [=| has a gene mutation that puts L 4 0.4% lead to early onset 4 ~2-5v, [Rieti medically cardiovascular disease actionable condition [ro—— 1in20to 1 in 200 people (Carriey fennel cena store carry the Factor V Leiden smh 3 risk for blood clotting Cc abel pe hls RINE " 110300 wll have an aie o Vi…

Slide 5

I EE. aE. ESN =m Historically, genetic testing was limited by cost Unknown Diagnostic Odyssey - Exomes/Genomes 2 g E roby on & Large gene panels o High risk Oo breast cancer, 2 : @ £ Small gene panels = BRCA1 Single Gene Limited ~~ Testing Sickle-cell anemia . Low ———m —@ > High a) Complexity of Diagnosis TJ INVITAE

Slide 6

a EE. aE ESSN =m Invitae is changing the cost structure of the industry Invitae offers one Exomes/Genomes price per indication regardless of the number of genes Large gene panels Small gene panels Cost of increasing genes ) Single Gene A eR Testing om an Cost i RE Technology is improving Cost of the first gene quality and creating Increasing number of genes == = economy of scale 1 2 INVITAE

Slide text above is read directly from the Invitae deck PDF embedded on this page.

Related fundraising guides (24)

• Azowo Pitch Deck Teardown: A Case Study in Enterprise Mobility and EV Transition Data
• Clutch Wallet Pitch Deck Teardown: A $800k Pre-Seed Bet on Web3 Inclusivity
• Everphone Pitch Deck Teardown: A $200M Masterclass in Unit Economics and Circularity
• Hervé Pitch Deck Teardown: Scaling Luxury Cannabis Edibles Through Proprietary Hardware
• Sunnyside Pitch Deck Teardown: A Masterclass in Market Expansion via Habit Modification
• Nest Health Pitch Deck Teardown: A $15M Seed Strategy for Value-Based Family Care
• Arize AI Pitch Deck Teardown: A Masterclass in Category Creation and Market Timing
• Cellarity Pitch Deck Teardown: A $121M Series C Masterclass in Platform-First Biotech
• EcoLocked Pitch Deck Teardown: Decarbonizing Construction via Biochar Admixes
• Groundcover Pitch Deck Teardown: Leveraging eBPF to Disrupt Cloud Observability Costs
• IRLY Pitch Deck Teardown: A Gen-Z Dating Playbook Built on Video-First Interaction
• Staffjoy Pitch Deck Teardown: A Masterclass in Algorithmic Workforce Automation
• Alphin Pitch Deck Teardown: A $6M Series A Masterclass in Local SMB Digitization
• Bravo Sierra Pitch Deck Teardown: Leveraging Military Community for CPG Scale
• Craft.io Pitch Deck Teardown: A $8M Series A Masterclass in Product-Led Narrative
• Fintor Pitch Deck Teardown: A $6.2M Seed Round Built on Fractional Real Estate Liquidity
• Hopscotch Pitch Deck Teardown: A $8M Seed Round for Pediatric Behavioral Health Infrastructure
• RegioHelden Pitch Deck Teardown: A Masterclass in Local Marketing Unit Economics
• Agave Games Pitch Deck Teardown: A $7M Seed Round Built on Mobile Gaming Pedigree
• Beam Dental Pitch Deck Teardown: A Masterclass in Structural Cost Advantage
• CMR Surgical Pitch Deck Teardown: A $600M Masterclass in Ecosystem-Led Medical Robotics
• Equinom Pitch Deck Teardown: Solving the 250% Plant-Based Cost Gap Through Seed Genetics
• Heura Pitch Deck Teardown: Dominating the Mediterranean Plant-Based Market
• Viso Pitch Deck Teardown: A 42-Slide Masterclass in Computer Vision Infrastructure

Decks from the same year (1)

• 2016 pitch deck examples

Decks from the same region (1)

• US pitch deck examples

Browse companies alphabetically (1)

• Pitch decks from companies starting with I

More pitch deck teardowns (16)

• Nutriband Inc. Pitch Deck Teardown: A Publicly Traded Play for Abuse-Deterrent Transdermals
• NutriPride Pitch Deck Teardown: Solving School Nutrition Logistics in Ghana
• Nuvia Pitch Deck Breakdown: A Masterclass in High-Stakes Semiconductor Fundraising
• nuwo Pitch Deck Breakdown: Solving the Remote Work Ergonomics Crisis
• Knowledgeo Pitch Deck Teardown: A Booth-Led Vision for Bridging the Academic-Professional Gap
• Nvidia × Arm Acquisition Pitch Deck Breakdown: A $40B Vision for AI Dominance
• NVision Pitch Deck Teardown: Scaling Quantum-Enhanced MRI for Metabolic Cancer Imaging
• NVIS Pitch Deck Teardown: A Deep Technical Play for Layer 2 Network Cloaking
• NXGH Pitch Deck Teardown: A Multi-Product Fintech and Telecom Roll-up Strategy
• Nyctale Pitch Deck Teardown: Bridging On-Chain Behavioral Data and Traditional Finance
• Nylas Pitch Deck Breakdown: A Masterclass in API Infrastructure and Developer Traction
• Nyra Health Pitch Deck Teardown: A Minimalist Approach to Digital Neuro-Rehabilitation
• Oxford Alpha Fund Pitch Deck Teardown: A Quantitative Strategy for Volume-Filtered Trading
• Oakai Labs Pitch Deck Teardown: A Pre-Validation Prototype for SME Social Marketing
• Oakland Ballers Pitch Deck Teardown: Leveraging Sports Disruption as a Media Platform
• Ober Pitch Deck Teardown: A Highly Derivative Rideshare Template Analysis

Recently published pitch deck teardowns (12)

• Misha's Kind Foods Pitch Deck Teardown: A Case Study in CPG Traction and Clean Label Branding
• Moleaer Pitch Deck Teardown: A Case Study in Industrial Hard-Tech Proof Points
• Moonlight Pitch Deck Teardown: A Community-First Approach to Remote Engineering
• Moritz Pitch Deck Teardown: How a Hybrid AI-Lawyer Model Raised $9M in Seed Funding
• Myflexbox Pitch Deck Teardown: Scaling Europe's Open Smart-Locker Infrastructure
• Naoris Protocol Pitch Deck Teardown: Securing $11.5M for Decentralized Cybersecurity Mesh
• NetBox Labs Pitch Deck Teardown: Leveraging Open Source Dominance for a $35M Series B
• Nevermined Pitch Deck Teardown: A $3M Seed Round Built on Data Economy Infrastructure
• NewHomesMate Pitch Deck Teardown: A $5.5M Seed Round Built on Transactional Real Estate Data
• Normalyze Pitch Deck Teardown: A Data-Centric Approach to Cloud Security
• Novoflow Pitch Deck Teardown: Replacing the EHR with an Agentic Middlewares Stack
• Nexad Pitch Deck Teardown: Capitalizing on the Shift from Search to AI Chatbots

Fundraising library · Pitch deck examples · Investor directory · Founder database