Sema4 Q2 revenue $36.2M, net loss $85.7M; exits somatic testing, cuts 13% workforce; founder Schadt resigns

GeneDx Holdings Corp.

2022-Q2 EPS reported -$0.56 revenue$90,110,000

Q2 total revenue $36.2M (or $66.3M excluding $30.1M prior-period adjustments); net loss $85.7M; adjusted net loss $72.9M.
Exiting somatic tumor testing (<1% revenue, ~$35M annual expense); eliminating ~250 positions (~13% workforce), cumulative 30% role reduction.
Founder Eric Schadt resigns as President, Chief R&D Officer, and board member; Matthew Davis (ex-Invitae) named Chief Technology & Product Officer.
FY2022 revenue guidance $245-255M; adj. gross margin 4-9% (incl. $24M prior-period adjustment); expects >$165M cash by year-end.

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