Release Details

GeneDx Reports Second Quarter 2026 Financial Results

August 3, 2026
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  • Reported second quarter 2026 revenue of $114.4 million, including $100.3 million in exome and genome revenue
  • Reported exome and genome volume growth of 32% year-over-year
  • Reported adjusted gross margin(1) of 70% and adjusted net income(1) of $0.4 million
  • Reiterating full year 2026 revenue guidance of $475 to $490 million with exome and genome volume growth of at least 30%
  • Hosting conference call today at 4:30 p.m. ET

GAITHERSBURG, Md.--(BUSINESS WIRE)--Aug. 3, 2026-- GeneDx Holdings Corp. (Nasdaq: WGS), the leader in rare disease diagnosis and improving health through the power of genomic data, today reported its financial results for the second quarter of 2026.

“Our team’s unwavering focus and agility drove a strong second quarter. By delivering healthy revenue, volume, and gross margin growth, we successfully navigated our return to profitability,” said Katherine Stueland, CEO of GeneDx. “We are managing the transition to genome testing, making progress on each of our key imperatives — optimizing unit economics, growing utilization, and delivering the best products at unmatched scale — while continuing to extend our industry-leading position in both exome and genome testing to reach as many patients and families as soon as possible.”

Second Quarter 2026 Financial Results (Unaudited)(1)

Revenue

  • Revenue grew to $114.4 million, an increase of 11% year-over-year.
  • Exome and genome test revenue grew to $100.3 million, an increase of 17% year-over-year.

Exome and genome volume

  • Exome and genome test result volume grew to 30,785, an increase of 32% year-over-year.

Gross margin

  • Adjusted gross margin of 70% in the second quarter of 2026 is up from 69% in the first quarter of 2026 and compares to 71% in the second quarter of 2025.
    • GAAP gross margin was 68%.

Operating expenses

  • Adjusted total operating expenses were $80.3 million, representing 70% of revenue.
    • Total GAAP operating expenses were $95.7 million.

Net income

  • Adjusted net income was $0.4 million, up $8.6 million from the first quarter of 2026 and compared to adjusted net income of $16.4 million in the second quarter of 2025.
    • GAAP net loss was $17.7 million.

Cash position

  • Cash, cash equivalents, marketable securities and restricted cash was $133.5 million as of June 30, 2026.
  • On August 3, 2026, the Company amended and restated its existing loan agreement with Blackstone, adding an additional $50.0 million term loan facility and increasing the aggregate principal amount available under the facility to $150.0 million. Concurrently, an affiliate of Blackstone agreed to purchase approximately $5.0 million of the Company’s Class A common stock at $61.00 per share in a private placement.
    • Combined with the cash, cash equivalents, marketable securities and restricted cash balance of $133.5 million as of June 30, 2026, the Company’s pro forma cash position following this transaction is approximately $188 million.

(1)

Adjusted gross margin, adjusted total operating expenses and adjusted net income are non-GAAP financial measures. See appendix for a reconciliation of GAAP to non-GAAP figures presented.

GeneDx 2026 Guidance

GeneDx has reaffirmed its full year 2026 guidance and has provided guidance for the third quarter of 2026. Management expects GeneDx to deliver:

Metric

 

Full Year 2026 Guidance

 

Third Quarter 2026 Guidance

Revenue

 

$475 to $490 million

 

$122 to $124 million

Exome and genome volume

 

At least 30% growth

 

33,200 tests

Exome and genome revenue

 

At least 20% growth

 

$110 to $112 million

Adjusted gross margin

 

Approximately 70%

 

Approximately 70%

Adjusted net income

 

Positive

 

Approximately $2 million

Second Quarter 2026 and Recent Business Highlights

Strategic Expansion and Market Leadership

  • Appointed Mark Gardner as President to lead GeneDx’s commercial and operations teams through the next phase of growth, with a focus on strengthening execution, scaling efficiently, and expanding the company’s leadership in genomic medicine.
  • Launched redesigned exome and genome reports to streamline the delivery of genomic insights to non-genetics clinicians as part of a broader suite of customer experience improvements rolling out this summer.

Expanded Coverage for Exome and Genome

  • Improved access to exome sequencing in Texas with new Medicaid coverage effective May 1, 2026, building on existing genome sequencing coverage in the state.
  • Received California Medicaid (Medi-Cal) pricing for genome sequencing effective July 1, 2026, with pricing published at 100% of the Medicare rate. Coverage for genome sequencing in California was originally announced as effective November 1, 2025.
  • Secured outpatient genome sequencing coverage from Carelon, the nation’s largest lab benefit manager, opening access to up to 56 million covered lives. The policy is effective June 14, 2026.
  • Expanded the total number of state Medicaid programs covering outpatient exome and/or genome sequencing to 39 following Mississippi Medicaid’s announcement of coverage for both tests effective July 1, 2026.

Innovation and Clinical Leadership

  • Contributed to 26 peer-reviewed publications, 41 conference presentations, and 50 abstracts in the first half of 2026, reflecting the depth and breadth of the company’s scientific expertise and its commitment to moving the field forward.

Webcast and Conference Call Details

GeneDx will host a conference call today, August 3, 2026, at 4:30 p.m. Eastern Time. Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event will be available on the “Events” section of the GeneDx investor relations website at https://ir.genedx.com/.

Non-GAAP Financial Measures

GeneDx believes non-GAAP measures are useful in evaluating its operating performance. GeneDx uses this supplemental information to evaluate its ongoing operations and for internal planning and forecasting purposes. GeneDx believes that non-GAAP financial information, when taken collectively with its GAAP financial information, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. We define non-GAAP financial measures as GAAP measures, excluding certain items such as stock-based compensation expense, depreciation and amortization, restructuring costs, changes in the fair value of financial liabilities, non-core lease costs, and other expenses that the Company believes are not indicative of its ongoing operations. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future performance and our market opportunity, including our expectations for full year and third quarter 2026 revenue, exome and genome revenue and test volumes, adjusted gross margin and adjusted net income. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to implement business plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, and (iv) future expansion of insurance coverage for exome and genome testing. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, filed with the SEC on May 4, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026, filed with the SEC on August 3, 2026, and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.

About GeneDx

GeneDx’s (Nasdaq: WGS) mission is to empower everyone to live their healthiest life through genomics. GeneDx combines unmatched clinical expertise, advanced technology, and the power of GeneDx Infinity™ – the world’s largest rare disease genomic dataset. This unparalleled foundation powers GeneDx’s ExomeDx™ and GenomeDx™ tests – ranked #1 by expert geneticists and granted FDA Breakthrough Device designation – enabling clinicians to deliver precise, fast, and actionable diagnoses. GeneDx Infinity also fuels discovery for biopharma, with the most powerful AI-driven genomic intelligence. A genomics pioneer over the last 25 years, diagnosing more than 4,800 genetic diseases and publishing more than 1,100 research publications, GeneDx is building the network that will drive the future of genomic precision medicine. For more information, visit genedx.com and connect with us on LinkedIn, Facebook, and Instagram.

Volume & Revenue

 

2Q26

 

1Q26

 

4Q25

 

3Q25

 

2Q25

Volumes

 

 

 

 

 

 

 

 

 

Whole exome, whole genome

 

30,785

 

 

27,488

 

 

27,761

 

 

25,702

 

 

23,246

Other panels

 

32,057

 

 

27,729

 

 

31,281

 

 

34,514

 

 

34,510

Total

 

62,842

 

 

55,217

 

 

59,042

 

 

60,216

 

 

57,756

 

 

 

 

 

 

 

 

 

 

Revenue ($ millions)

 

 

 

 

 

 

 

 

 

Whole exome, whole genome

$

100.3

 

$

90.6

 

$

104.0

 

$

98.9

 

$

86.0

Other panels

 

11.6

 

 

10.7

 

 

13.3

 

 

14.6

 

 

14.1

Data information

 

2.3

 

 

0.8

 

 

2.6

 

 

1.5

 

 

2.0

Software and interpretation services

 

0.2

 

 

0.2

 

 

1.1

 

 

1.7

 

 

0.6

Total

$

114.4

 

$

102.3

 

$

121.0

 

$

116.7

 

$

102.7

Unaudited Select Financial Information

 

Three months ended June 30, 2026

 

Reported

 

Depreciation and amortization

 

Stock-based compensation

 

Restructuring costs

 

Change in FV of financial liabilities

 

Other(2)

 

Adjusted

Diagnostic test revenue

$

111,886

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

111,886

 

Other revenue

 

2,554

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,554

 

Total revenue

 

114,440

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

114,440

 

Cost of services

 

36,202

 

 

 

(1,726

)

 

 

(561

)

 

 

(47

)

 

 

—

 

 

 

—

 

 

 

33,868

 

Gross profit

 

78,238

 

 

 

1,726

 

 

 

561

 

 

 

47

 

 

 

—

 

 

 

—

 

 

 

80,572

 

Gross margin

 

68.4

%

 

 

 

 

 

 

 

 

 

 

 

 

70.4

%

Research and development

 

19,656

 

 

 

(271

)

 

 

(1,387

)

 

 

(1,036

)

 

 

—

 

 

 

—

 

 

 

16,962

 

Selling, general and administrative

 

76,037

 

 

 

(4,717

)

 

 

(4,394

)

 

 

(2,212

)

 

 

—

 

 

 

(1,353

)

 

 

63,361

 

(Loss) income from operations

 

(17,455

)

 

 

6,714

 

 

 

6,342

 

 

 

3,295

 

 

 

—

 

 

 

1,353

 

 

 

249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(1,185

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,185

 

 

 

—

 

Other income (expense), net

 

382

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(220

)

 

 

—

 

 

 

162

 

Income tax benefit

 

518

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(518

)

 

 

—

 

Net (loss) income

$

(17,740

)

 

$

6,714

 

 

$

6,342

 

 

$

3,295

 

 

$

(220

)

 

$

2,020

 

 

$

411

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share(1)

$

(0.60

)

 

 

 

 

 

 

 

 

 

 

 

$

0.01

 

Diluted (loss) earnings per share(1)

$

(0.60

)

 

 

 

 

 

 

 

 

 

 

 

$

0.01

 

 

Three months ended June 30, 2025

 

Reported

 

Depreciation and

amortization

 

Stock-based

compensation

 

Restructuring costs

 

Change in FV of

financial liabilities

 

Other(2)

 

Adjusted

Diagnostic test revenue

$

100,100

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

100,100

 

Other revenue

 

2,592

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,592

 

Total revenue

 

102,692

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

102,692

 

Cost of services

 

31,790

 

 

 

(1,389

)

 

 

(193

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

30,208

 

Gross profit

 

70,902

 

 

 

1,389

 

 

 

193

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

72,484

 

Gross margin

 

69.0

%

 

 

 

 

 

 

 

 

 

 

 

 

70.6

%

Research and development

 

15,079

 

 

 

(209

)

 

 

(1,422

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

13,448

 

Selling, general and administrative

 

46,863

 

 

 

(4,593

)

 

 

(6,198

)

 

 

(73

)

 

 

—

 

 

 

6,937

 

 

 

42,936

 

Income from operations

 

8,960

 

 

 

6,191

 

 

 

7,813

 

 

 

73

 

 

 

—

 

 

 

(6,937

)

 

 

16,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(817

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

817

 

 

 

—

 

Other income (expense), net

 

2,420

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,181

)

 

 

49

 

 

 

288

 

Income tax benefit

 

246

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(246

)

 

 

—

 

Net income

$

10,809

 

 

$

6,191

 

 

$

7,813

 

 

$

73

 

 

$

(2,181

)

 

$

(6,317

)

 

$

16,388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share(1)

$

0.38

 

 

 

 

 

 

 

 

 

 

 

 

$

0.57

 

Diluted earnings per share(1)

$

0.36

 

 

 

 

 

 

 

 

 

 

 

 

$

0.55

 

(1)

Basic and diluted reported loss per share and Basic adjusted earnings per share are calculated based on 29,710,139 weighted average shares outstanding and Diluted adjusted earnings per share are calculated based on 30,144,132 weighted average shares outstanding for the three months ended June 30, 2026. Basic and diluted earnings per share are calculated based on 28,579,704 and 29,753,933 weighted average shares outstanding for the three months ended June 30, 2025, respectively.

(2)

Other represents interest expense, net, income tax benefit and non-core lease costs for all periods presented. For the three months ended June 30, 2026, Other also includes costs related to legal reserves. For the three months ended June 30, 2025, Other includes transaction costs incurred in connection with the acquisition of Fabric Genomics and a sales-and-use tax refund.

Unaudited Select Financial Information

 

Three months ended March 31, 2026

 

Reported

 

Depreciation and amortization

 

Stock-based compensation

 

Restructuring costs

 

Change in FV of financial liabilities

 

Extinguishment

of debt

 

Other(2)

 

Adjusted

Diagnostic test revenue

$

101,299

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

$

—

 

 

$

101,299

 

Other revenue

 

955

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

—

 

 

 

955

 

Total revenue

 

102,254

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

—

 

 

 

102,254

 

Cost of services

 

34,043

 

 

 

(1,462

)

 

 

(380

)

 

 

—

 

 

 

—

 

 

 

—

 

 

—

 

 

 

32,201

 

Gross profit

 

68,211

 

 

 

1,462

 

 

 

380

 

 

 

—

 

 

 

—

 

 

 

—

 

 

—

 

 

 

70,053

 

Gross margin

 

66.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

68.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

19,804

 

 

 

(224

)

 

 

(1,406

)

 

 

(224

)

 

 

—

 

 

 

—

 

 

—

 

 

 

17,950

 

Selling, general and administrative

 

74,591

 

 

 

(5,123

)

 

 

(7,210

)

 

 

(215

)

 

 

—

 

 

 

—

 

 

(1,916

)

 

 

60,127

 

Impairment loss

 

31,287

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

(31,287

)

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

(57,471

)

 

 

6,809

 

 

 

8,996

 

 

 

439

 

 

 

—

 

 

 

—

 

 

33,203

 

 

 

(8,024

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(717

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

717

 

 

 

—

 

Other (expense) income, net

 

(4,231

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,540

)

 

 

6,565

 

 

—

 

 

 

(206

)

Income tax expense

 

(897

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

897

 

 

 

—

 

Net loss

$

(63,316

)

 

$

6,809

 

 

$

8,996

 

 

$

439

 

 

$

(2,540

)

 

$

6,565

 

$

34,817

 

 

$

(8,230

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted loss per share(1)

$

(2.16

)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(0.28

)

(1)

 

Basic and diluted loss per share are calculated based on 29,335,126 weighted average shares outstanding for the three months ended March 31, 2026.

(2)

For the three months ended March 31, 2026, Other represents interest expense, net, income tax expense and non-core lease costs, costs related to legal reserves, and impairment of goodwill and intangible assets associated with the Fabric Genomics acquisition.

GeneDx Holdings Corp.

Condensed Consolidated Balance Sheets

(in thousands, except share and per share amounts)

 

 

June 30, 2026 (Unaudited)

 

December 31, 2025

Assets:

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

60,317

 

 

$

104,997

 

Marketable securities

 

72,231

 

 

 

66,285

 

Accounts receivable

 

83,610

 

 

 

74,370

 

Inventory, net

 

17,820

 

 

 

13,951

 

Prepaid expenses and other current assets

 

12,382

 

 

 

8,685

 

Total current assets

 

246,360

 

 

 

268,288

 

Operating lease right-of-use assets

 

33,535

 

 

 

23,412

 

Property and equipment, net

 

54,316

 

 

 

45,693

 

Goodwill

 

1,641

 

 

 

13,520

 

Intangible assets, net

 

141,350

 

 

 

168,481

 

Other assets(1)

 

4,284

 

 

 

4,316

 

Total assets

$

481,486

 

 

$

523,710

 

Liabilities and Stockholders’ Equity:

 

 

 

Current liabilities:

 

 

 

Accounts payable and accrued expenses

$

42,091

 

 

$

57,645

 

Short-term lease liabilities

 

5,709

 

 

 

4,404

 

Other current liabilities

 

26,828

 

 

 

46,859

 

Total current liabilities

 

74,628

 

 

 

108,908

 

Long-term debt, net of current portion

 

96,836

 

 

 

48,176

 

Long-term lease liabilities

 

64,857

 

 

 

56,046

 

Other liabilities

 

71

 

 

 

1,641

 

Deferred taxes

 

873

 

 

 

757

 

Total liabilities

 

237,265

 

 

 

215,528

 

Stockholders’ Equity:

 

 

 

Preferred stock

 

—

 

 

 

—

 

Class A common stock

 

3

 

 

 

3

 

Additional paid-in capital

 

1,698,427

 

 

 

1,680,738

 

Accumulated deficit

 

(1,454,551

)

 

 

(1,373,495

)

Accumulated other comprehensive income

 

342

 

 

 

936

 

Total stockholders’ equity

 

244,221

 

 

 

308,182

 

Total liabilities and stockholders’ equity

$

481,486

 

 

$

523,710

 

 

(1) Other assets includes $1.0 million of restricted cash as of both June 30, 2026 and December 31, 2025.

GeneDx Holdings Corp.

Condensed Consolidated Statements of Operations (Unaudited)

(in thousands, except share and per share amounts)

 

 

Three months ended June 30,

 

Six months ended June 30,

 

2026

 

2025

 

2026

 

2025

Revenue

 

 

 

 

 

 

 

Diagnostic test revenue

$

111,886

 

 

$

100,100

 

 

$

213,185

 

 

$

185,859

 

Other revenue

 

2,554

 

 

 

2,592

 

 

 

3,509

 

 

 

3,948

 

Total revenue

 

114,440

 

 

 

102,692

 

 

 

216,694

 

 

 

189,807

 

Cost of services

 

36,202

 

 

 

31,790

 

 

 

70,245

 

 

 

60,429

 

Gross profit

 

78,238

 

 

 

70,902

 

 

 

146,449

 

 

 

129,378

 

Research and development

 

19,656

 

 

 

15,079

 

 

 

39,460

 

 

 

27,656

 

Selling, general and administrative

 

76,037

 

 

 

46,863

 

 

 

150,628

 

 

 

97,313

 

Impairment loss

 

—

 

 

 

—

 

 

 

31,287

 

 

 

—

 

(Loss) income from operations

 

(17,455

)

 

 

8,960

 

 

 

(74,926

)

 

 

4,409

 

 

 

 

 

 

 

 

 

Non-operating (expense) income, net

 

 

 

 

 

 

 

Change in fair value of financial liabilities

 

220

 

 

 

2,181

 

 

 

2,760

 

 

 

1,081

 

Interest expense, net

 

(1,185

)

 

 

(817

)

 

 

(1,902

)

 

 

(1,457

)

Loss on extinguishment of debt

 

—

 

 

 

—

 

 

 

(6,565

)

 

 

—

 

Other income (expense), net

 

162

 

 

 

239

 

 

 

(44

)

 

 

448

 

Total non-operating (expense) income, net

 

(803

)

 

 

1,603

 

 

 

(5,751

)

 

 

72

 

(Loss) income before income taxes

 

(18,258

)

 

 

10,563

 

 

 

(80,677

)

 

 

4,481

 

Income tax benefit (expense)

 

518

 

 

 

246

 

 

 

(379

)

 

 

(201

)

Net (loss) income

$

(17,740

)

 

$

10,809

 

 

$

(81,056

)

 

$

4,280

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding of Class A common stock - Basic

 

29,710,139

 

 

 

28,579,704

 

 

 

29,523,669

 

 

 

28,365,018

 

Basic (loss) earnings per share, Class A common stock

$

(0.60

)

 

$

0.38

 

 

$

(2.75

)

 

$

0.15

 

Weighted-average shares outstanding of Class A common stock - Diluted

 

29,710,139

 

 

 

29,753,933

 

 

 

29,523,669

 

 

 

29,642,555

 

Diluted (loss) earnings per share, Class A common stock

$

(0.60

)

 

$

0.36

 

 

$

(2.75

)

 

$

0.14

 

GeneDx Holdings Corp.

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

 

 

Six months ended June 30,

 

2026

 

2025

Operating activities

 

 

 

Net (loss) income

$

(81,056

)

 

$

4,280

 

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

Depreciation and amortization expense

 

13,523

 

 

 

11,869

 

Stock-based compensation expense

 

15,338

 

 

 

11,796

 

Change in fair value of financial liabilities

 

(2,760

)

 

 

(1,081

)

Deferred tax expense

 

379

 

 

 

202

 

Change in third party payor reserves

 

(1,022

)

 

 

5,014

 

Loss on extinguishment of debt

 

6,565

 

 

 

—

 

Impairment loss

 

31,287

 

 

 

—

 

Other

 

2,157

 

 

 

1,510

 

Change in operating assets and liabilities:

 

 

 

Accounts receivable

 

(9,240

)

 

 

(9,889

)

Inventory

 

(3,973

)

 

 

(1,404

)

Accounts payable and accrued expenses

 

(12,566

)

 

 

7,199

 

Other assets and liabilities

 

(20,021

)

 

 

(8,894

)

Net cash (used in) provided by operating activities

 

(61,389

)

 

 

20,602

 

Investing activities

 

 

 

Acquisition of business, net of cash acquired

 

—

 

 

 

(33,195

)

Purchases of marketable securities

 

(29,065

)

 

 

(30,770

)

Proceeds from sales of marketable securities

 

2,272

 

 

 

—

 

Proceeds from maturities of marketable securities

 

20,475

 

 

 

26,705

 

Purchases of property and equipment and development of internal-use software

 

(16,567

)

 

 

(8,498

)

Net cash used in investing activities

 

(22,885

)

 

 

(45,758

)

Financing activities

 

 

 

Proceeds from long term debt, net of issuance costs

 

96,699

 

 

 

—

 

Proceeds from offerings, net of issuance costs

 

—

 

 

 

13,766

 

Proceeds from issuance of common stock from subscription agreements

 

476

 

 

 

—

 

Proceeds from issuance of common stock pursuant to employee stock purchase plan

 

1,793

 

 

 

1,262

 

Exercise of stock options

 

58

 

 

 

800

 

Repayment of long-term debt, including prepayment penalty - Perceptive

 

(54,000

)

 

 

—

 

Repayment and principal payments for long-term debt - DECD

 

(4,447

)

 

 

(602

)

Finance lease principal payments

 

(984

)

 

 

(1,162

)

Net cash provided by financing activities

 

39,595

 

 

 

14,064

 

Net decrease in cash, cash equivalents and restricted cash

 

(44,679

)

 

 

(11,092

)

Cash, cash equivalents and restricted cash, at beginning of period

 

105,989

 

 

 

86,202

 

Cash, cash equivalents and restricted cash, at end of period (1)

$

61,310

 

 

$

75,110

 

 

 

 

 

Supplemental disclosures of cash flow information

 

 

 

Cash paid for interest

$

3,813

 

 

$

3,210

 

Cash paid for taxes

$

2,221

 

 

$

920

 

Lease liability from obtaining right-of-use asset

$

12,086

 

 

$

—

 

Purchases of property and equipment in accounts payable and accrued expenses

$

3,154

 

 

$

5,752

 

(1) Cash, cash equivalents and restricted cash as of June 30, 2026 excludes marketable securities of $72.2 million.

 

Investor Relations Contact:
Investors@GeneDx.com

Media Contact:
Press@GeneDx.com

Source: GeneDx

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