Sema4 Q1 2022: revenue $53.9M, net loss $76.9M; closes GeneDx acquisition, raises cash burn savings to $50M

GeneDx Holdings Corp.

2022-Q1 EPS reported -$0.31 revenue$53,941,000

Total revenue $53.9M (incl. COVID-19); ex-COVID revenue $50.1M, up 4% YoY.
Adjusted gross margin 13%, up ~1,300 bps sequentially; net loss $76.9M, adjusted net loss $65.5M.
Completed GeneDx acquisition in April; $200M private placement closed with Pfizer among investors.
Reaffirms FY2022 pro forma revenue target $350M; total revenue guidance $305-315M.
Cash $315M as of March 31; expects to reduce 2022 cash burn by $50M, extending runway into 2024.

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