other material
confidence high
sentiment negative
materiality 0.85
Sema4 reports Q4 revenue $57.8M, restates prior-period financials due to expense classification errors
GeneDx Holdings Corp.
- Q4 2021 revenue $57.8M (up 24% ex-COVID); full-year revenue $212.2M. Net loss $40.2M Q4, $245.4M full year.
- Test volumes (ex-COVID) grew 37% YoY to 82,966; Oncology volumes up 142%, Women's Health up 33%.
- Restating audited financials for 2020 and 2019, and unaudited quarters in 2021/2020, due to expense misclassification and out-of-period cost recognition.
- 2022 guidance: total revenue $215-225M, test volume growth >20% ex-COVID, adjusted gross margin >10%; excludes pending GeneDx acquisition.
- Cash $400.6M at Dec 31, 2021; pending $200M PIPE and GeneDx acquisition expected to close Q2 2022.