secwatch.observer — SEC 8-K summary
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Issuer:     GeneDx Holdings Corp. (WGS)
CIK:        0001818331
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001818331-23-000066
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 1.02, 2.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GeneDx Q3: revenue $53M, exome/genome up 42% YoY; cuts FY rev guidance to $187-192M; secures $75M Perceptive debt
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- Continuing ops revenue $50.4M; exome and genome test revenue $34M (+42% YoY). Adjusted gross margin from cont ops 48%.
- Net loss $42.3M; adjusted net loss $21.2M, improved 70% YoY. Cash burn $42M, down 51% YoY.
- FY2023 revenue guidance lowered to $187-192M (from $205-220M). Path to profitability in 2025 reiterated.
- Entered $75M senior secured credit facility with Perceptive Advisors; initial $50M funded at SOFR+7.5%. Warrants for 800k shares at $3.17.
- Enacted $40M annual cost savings plan including ~10% workforce reduction. Appointed Melanie Duquette as Chief Growth Officer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818331/000181833123000066/0001818331-23-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818331/000181833123000066/wgs-20231027.htm
  HTML page:      https://secwatch.observer/filing/0001818331-23-000066

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