secwatch.observer — SEC 8-K summary
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Issuer:     GeneDx Holdings Corp. (WGS)
CIK:        0001818331
Form:       8-K
Filed at:   2022-08-15T23:59:59+00:00
Accession:  0001818331-22-000068
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818331/000181833122000068/0001818331-22-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818331/000181833122000068/smfr-20220815.htm
  HTML page:      https://secwatch.observer/filing/0001818331-22-000068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer