GeneDx Q1 exome/genome revenue up 96% YoY; raises FY 2024 guidance to $235-245M

GeneDx Holdings Corp.

2024-Q1 EPS reported -$0.78 revenue$62,422,000

Revenue from continuing ops $61.5M (+51% YoY); exome/genome revenue $44.0M (+96% YoY).
Adjusted gross margin expanded to 61% from 34% YoY; exome/genome margin above 65%.
Adjusted net loss narrowed to $8.5M (83% YoY improvement); GAAP net loss $20.2M.
Cash burn reduced 71% YoY to $17.2M; cash position $113.9M as of March 31.
Raised FY 2024 revenue guidance to $235-245M; reiterate path to profitability in 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GeneDx Holdings Corp. reported quarter ended March 31, 2024 results: revenue $61.5 million, net income $8.5 million. Guidance raised.

Period: quarter ended March 31, 2024
Revenue: $61.5 million
Net income: $8.5 million
Guidance: raised
Result: reported results

Exact text from the filing

and reiterate our expectation to reach profitability in 2025.” First Quarter 2024 Financial Results (Unaudited) 1,2 Revenues • Revenues from continuing operations grew to $61.5 million, an increase of 51% year-over-year and 6% sequentially. ◦ Total company revenues were $62.4 million. • Exome and genome test revenue grew to $44.0 million, an increase of 96%

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Source: SEC EDGAR

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