Latest news with #KatherineStueland
Yahoo
09-05-2025
- Business
- Yahoo
GeneDx completes acquisition of Fabric Genomics
GeneDx has completed the acquisition of Fabric Genomics, a US-based company focused on AI-driven human genomic interpretation. The two companies now aim to focus on the next generation of genomic medicine, facilitating decentralised testing with centralised intelligence. Last month, GeneDx announced its plans to acquire Fabric Genomics, with an aggregate payment of up to $33m in cash at closure. The deal value could potentially go up to an aggregate of $51m after achieving specific milestones. The exome and genome testing and rare disease data assets of GeneDx, combined with the AI interpretation services of Fabric Genomics will create a genomic diagnostic ecosystem. GeneDx noted that the integrated model provides flexibility for healthcare providers and systems, offering a seamless workflow for centralised and decentralised genomic services. This synergy is powered by GeneDx's clinical expertise and interpretation technology of Fabric. Fabric Genomics will maintain its operational independence as GeneDx's subsidiary, advancing its growth trajectory with commercial backing from its new parent company. The acquisition unlocks several growth avenues for GeneDx, including expediting neonatal intensive care unit (NICU) genomic testing to swiftly diagnose critically ill newborns, positioning the company to support large-scale genomic newborn screening (gNBS) programmes worldwide. Additionally, the acquisition will allow for models that are regulation-compliant for AI-powered interpretation services throughout various global regions. It also taps into recurring revenue streams that are based on software via Fabric Genomics' interpretation-as-a-service model. Fenwick & West acted as the legal adviser for GeneDx during this acquisition. Meanwhile, TD Cowen provided exclusive financial advice to Fabric Genomics, with DLA Piper (US) offering legal counsel. GeneDx CEO and president Katherine Stueland said: 'Healthcare is at an inflexion point where genomic insights must be integrated into standard care to improve outcomes and reduce costs. 'With Fabric Genomics now part of GeneDx, we're uniquely positioned to deliver earlier and more accurate diagnoses worldwide, from NICUs and pioneering newborn screening programmes to health systems across the globe.' "GeneDx completes acquisition of Fabric Genomics" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
07-05-2025
- Business
- Business Wire
GeneDx Announces Completion of Fabric Genomics Acquisition
GAITHERSBURG, Md. & OAKLAND, Calif.--(BUSINESS WIRE)--GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, today announced the successful completion of its acquisition of Fabric Genomics, a pioneer in AI-powered genomic interpretation. Together, GeneDx and Fabric Genomics are ushering in the next era of genomic medicine, enabling decentralized testing powered by centralized intelligence to set the standard of care across the globe. 'Healthcare is at an inflection point where genomic insights must be integrated into standard care to improve outcomes and reduce costs,' said Katherine Stueland, President and CEO of GeneDx. 'With Fabric Genomics now part of GeneDx, we're uniquely positioned to deliver earlier and more accurate diagnoses worldwide, from NICUs and pioneering newborn screening programs to health systems across the globe.' The combination of GeneDx's industry leading exome and genome testing and unmatched rare disease data asset with Fabric Genomics' advanced AI interpretation services establishes a new ecosystem for genomic diagnostics. The integrated model offers greater flexibility for providers and health systems, enabling seamless workflow integration for both centralized and decentralized genomic services, all powered by GeneDx's deep clinical expertise and Fabric's advanced interpretation technology. Fabric Genomics will operate independently as a subsidiary of GeneDx, continuing to drive momentum with commercial support from GeneDx. The acquisition accelerates several key growth opportunities for GeneDx: NICU Genomic Testing: Accelerates time-to-diagnosis for critically ill newborns with scalable genomic solutions that integrate into major health system workflows, enabling GeneDx to deliver flexible end-to-end offerings and increase access to testing. Genomic Newborn Screening (gNBS): Positions GeneDx to support large-scale newborn screening programs in the U.S. and globally. Global Commercial Expansion: Enables flexible, regulation-compliant models for AI-powered interpretation services across EMEA, APAC, LATAM, and more. Platform Economics: Unlocks recurring software-based revenue streams through Fabric's interpretation-as-a-service model. Advisors: Fenwick & West LLP served as legal advisor to GeneDx. TD Cowen served as exclusive financial advisor to Fabric Genomics in connection with the acquisition while DLA Piper LLP (US) served as legal advisor to Fabric Genomics. About GeneDx: At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest, rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit and connect with us on LinkedIn, Facebook, and Instagram. About Fabric Genomics: Fabric Genomics, a wholly owned subsidiary of GeneDx, is transforming healthcare through its AI-driven interpretation of the human genome. The company provides organizations with end-to-end clinical sequence analysis solutions that include the Fabric Enterprise software platform and expert clinical interpretation services needed to scale genetic testing. At the core of our platform is a suite of sophisticated AI algorithms and data knowledge systems that turn genomic data into expert clinical insights. Headquartered in Oakland, California, Fabric Genomics supports clinical applications across a variety of use cases including rare disease, oncology, cardiovascular, neurological and women's health. To learn more, visit and follow us on X (Twitter) and LinkedIn. Forward Looking Statements This press release may contain '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. 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 combinations, 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, (iv) our ability to pursue our new strategic direction, and (v) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. The foregoing list of factors is not exhaustive. A further list and description of risks, uncertainties and other matters can be found in the 'Risk Factors' section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, 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.
Business Wire
30-04-2025
- Business
- Business Wire
GeneDx Reports First Quarter 2025 Financial Results and Business Highlights
GAITHERSBURG, Md.--(BUSINESS WIRE)--GeneDx Holdings Corp. (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, today reported its financial results for the first quarter of 2025. 'Healthcare is at an inflection point where integrating genomic insights into standard care is becoming essential – both for better clinical outcomes and for saving the healthcare system valuable dollars,' said Katherine Stueland, CEO of GeneDx. 'The first quarter exceeded our expectations across all measures, headlined by 62% revenue growth in exome/genome and our third consecutive quarter of profitability, demonstrating the leverage in our business model to drive sustained, profitable growth. We are well positioned to transform genomic testing globally, driving improved outcomes on an even larger scale.' 'Our business continued to exceed expectations, with volume growth accelerating throughout the quarter,' said Kevin Feeley, CFO of GeneDx. 'Looking forward, the combination of continued core momentum, the rolling expansion of new indications in the outpatient setting, and the recent launch of a new ultraRapid genome product are expected to drive incremental volume growth opportunities throughout the remainder of 2025 and beyond.' First Quarter 2025 Financial Results (Unaudited) 1 Revenues Revenues grew to $87.1 million, an increase of 42% year-over-year Exome and genome test revenue grew to $71.4 million, an increase of 62% year-over-year Exome and genome volume Exome and genome test results volume grew to 20,562, an increase of 24% year-over-year Exome and genome represented 40% of all test results, up from 30% in the first quarter of 2024 Gross margin Adjusted gross margin was 69%, compared to 61% in the first quarter of 2024 Total GAAP gross margin was 67%. Operating expenses Adjusted total operating expenses were $52.3 million, or 60% of revenues in the first quarter of 2025, compared to 74% in the first quarter of 2024 Total GAAP operating expenses were $63.0 million. Net Income Adjusted net income was $7.7 million compared to an adjusted net loss of $8.0 million in the first quarter of 2024 GAAP net loss was $6.5 million. Cash position Cash, cash equivalents, marketable securities and restricted cash was $160.2 million as of March 31, 2025. Cash flow for the first quarter 2025 included: $4.1 million in cash generated from ordinary operations; and $13.9 million in proceeds, net of fees, from the issuance of 150,000 shares of Class A common stock in connection with sales pursuant to our 'at-the-market' offering. (1) Adjusted gross margin, adjusted total operating expenses and adjusted net loss are non-GAAP financial measures. See appendix for a reconciliation of GAAP to Non-GAAP figures presented. GeneDx Full Year 2025 Guidance GeneDx has updated its full year 2025 guidance. Management expects GeneDx to deliver: Revenues between $360 to $375 million for full year 2025, inclusive of $3 to $5 million in post-close revenue contribution from the planned acquisition of Fabric Genomics, assuming a second quarter 2025 close (previous guidance was revenues between $350 to $360 million); Growth in exome/genome volume and revenue of at least 30% (unchanged); Adjusted gross margins between 66%-68% (previous guidance was between 65%-67%); and Profitability with adjusted net income each quarter and for full year 2025 (unchanged). First Quarter 2025 Business Highlights Driving sustainable growth and market leadership Announced plans to acquire Fabric Genomics, which will accelerate GeneDx's entry into a supplemental market of genomic medicine: decentralized testing with centralized intelligence. Announced ultraRapid Whole Genome Sequencing, offering accelerated, comprehensive and actionable genomic insights for neonatal and pediatric patients in the NICU and PICU in as soon as 48 hours. Launched Epic Aura, which seamlessly integrates GeneDx exome and genome testing into the native ordering and resulting workflows of many of the largest health systems across the country. Expanded commercial footprint for exome and genome testing with cerebral palsy (CP) as a new indication, underscoring the importance of improving access to exome and genome testing for patients with CP to shorten the diagnostic odyssey and accelerate the path to treatment. Expanded commercial footprint for exome and genome testing with Inborn Errors of Immunity (IEIs) as a new indication, empowering ordering clinicians with more accurate and comprehensive genetic insights to better treat this patient population. Accelerated adoption of exome and genome sequencing coverage by state Medicaid programs, bringing the total states covering exome or genome sequencing in the pediatric outpatient setting to 33 (New Mexico announced April 2025) and the total states covering rapid genome sequencing in the neonatal intensive care unit (NICU) to 14. Recognized by Fast Company as one of the world's most innovative companies, honoring GeneDx's innovative approach to accelerating genetic diagnosis and transforming the future of healthcare by ending the diagnostic odyssey. Advancing the field to accelerate market expansion Published data from the Seqfirst-neo study, a pioneering study conducted in partnership with Seattle Children's and the University of Washington, revealing that widespread use of rapid genome sequencing (rGS) demonstrates that at least 60% of level IV NICU infants should be receiving rGS. Seqfirst-neo is the first study to use exclusion, rather than inclusion, criteria for which infants should receive genomic testing in the NICU, setting a new standard of care by enabling neonatologists to more easily identify patients to receive testing, and expanding access to patients who previously would not have been offered testing. 42% of diagnosed infants would have been missed using conventional NICU protocols (69% of whom were non-white), highlighting the limitations of current diagnostic approaches and the correlated inequity of care. Showcased key research and innovation at the 2025 American College of Medical Genetics (ACMG) Annual Meeting that demonstrated: The relative impact of RNAseq across a large cohort of clinically diverse patients receiving exome-based testing for rare diseases was low, and for most patients the key factors in clinically impactful VUS resolution are providing detailed and accurate clinical information, trio-based testing, and selecting a laboratory with an extensive clinical and genomic database. Parental needs during whole genome sequencing (WGS) are multifaceted and interconnected, with parents' informational, emotional, and logistical needs all suggesting the importance of ongoing, empathetic engagement with healthcare providers. Parental feedback also highlighted the need for peer support from families with either similar genetic or clinical diagnoses or those similarly navigating the WGS process, emphasizing the role of patient advocacy in the diagnostic and treatment journey for children with developmental disorders. The results of the first 10,000 participants enrolled in the GUARDIAN study demonstrate the feasibility of screening for a targeted set of genes in a diverse newborn population with genomic newborn screening (gNBS). 74.0% of parents consented for their newborn to participate, highlighting the wide acceptance of more advanced and modernized newborn screening with gNBS. Announced Multiscore, an advanced AI-powered decision support tool designed to revolutionize genetic analysis by improving diagnostic efficiency, streamlining workflows, and enhancing clinical insights. Through the combination of GeneDx's industry leading proprietary dataset, publicly available data, and the power of AI, Multiscore enables faster, more accurate identification of genetic conditions, providing a scalable solution for clinical interpretation embedded directly within GeneDx's platform, and reducing the time required for manual review by analysts, ultimately shortening the overall turnaround time for delivering results. Webcast and Conference Call Details GeneDx will host a conference call today, April 30, 2025, at 8:30 a.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 Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our future performance and our market opportunity, including our expected full year 2025 reported revenue and volume guidance, adjusted gross margin and our adjusted net income in 2025. 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, (iv) our ability to pursue our new strategic direction, and (v) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. 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, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC') on February 20, 2025 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 At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit and connect with us on LinkedIn, Facebook, and Instagram. Unaudited Select Financial Information (in thousands) Three months ended December 31, 2024 Revenue $87,115 $— $87,115 $95,286 $354 $95,640 Adjusted cost of services 27,396 — 27,396 28,384 — 28,384 Adjusted gross profit (loss) $59,719 $— $59,719 $66,902 $354 $67,256 Adjusted gross margin % 68.6% 68.6% 70.2% 70.3% Expand Three months ended March 31, 2024 GeneDx Other 1 Total Revenue $61,461 $961 $62,422 Adjusted cost of services 24,099 — 24,099 Adjusted gross profit (loss) $37,362 $961 $38,323 Adjusted gross margin % 60.8% 61.4% (1) Other represents revenue and costs in 2024 associated with the shut down Legacy Sema4 diagnostic testing business. Expand Three months ended March 31, 2025 Reported Depreciation and amortization Stock-based compensation expense Restructuring costs Change in FV of warrants Other 1 Adjusted Diagnostic test revenue $ 85,759 $ — $ — $ — $ — $ — $ 85,759 Other revenue 1,356 — — — — — 1,356 Total revenue 87,115 — — — — — 87,115 Cost of services 28,639 (1,075 ) (168 ) — — — 27,396 Gross profit 58,476 1,075 168 — — — 59,719 Gross margin 67.1 % 68.6 % Research and development 12,577 (372 ) (419 ) (28 ) — — 11,758 Selling and marketing 18,316 (1,225 ) (546 ) (16 ) — — 16,529 General and administrative 32,134 (3,006 ) (2,850 ) (514 ) — (1,784 ) 23,980 (Loss) profit from operations (4,551 ) 5,678 3,983 558 — 1,784 7,452 Interest expense, net (640 ) — — — — 640 — Other (expense) income, net (891 ) — — — 1,100 30 239 Income tax expense (447 ) — — — — 447 — Net (loss) income $ (6,529 ) $ 5,678 $ 3,983 $ 558 $ 1,100 $ 2,901 $ 7,691 Expand Three months ended March 31, 2024 Reported Depreciation and amortization Stock-based compensation expense Restructuring costs Change in FV of warrants Other 1 Adjusted Diagnostic test revenue $ 61,104 $ — $ — $ — $ — $ 61,104 Other revenue 1,318 — — — — — 1,318 Total revenue 62,422 — — — — — 62,422 Cost of services 25,011 (816 ) (48 ) (48 ) — — 24,099 Gross profit 37,411 816 48 48 — — 38,323 Gross margin 59.9 % 61.4 % Research and development 11,567 (196 ) 187 (103 ) — — 11,455 Selling and marketing 16,085 (1,225 ) 20 (400 ) — — 14,480 General and administrative 23,419 (3,011 ) 292 (292 ) — — 20,408 Loss from operations (13,660 ) 5,248 (451 ) 843 — — (8,020 ) Interest expense, net (597 ) — — — — 597 — Other (expense) income, net (6,064 ) — — — 6,101 — 37 Income tax benefit 82 — — — — (82 ) — Net loss $ (20,239 ) $ 5,248 $ (451 ) $ 843 $ 6,101 $ 515 $ (7,983 ) Expand Three months ended December 31, 2024 Reported Depreciation and amortization Stock-based compensation expense Restructuring costs Change in FV of warrants Other 1 Adjusted Diagnostic test revenue $ 94,196 $ — $ — $ — $ — $ — $ 94,196 Other revenue 1,444 — — — — — 1,444 Total revenue 95,640 — — — — — 95,640 Cost of services 29,435 (928 ) (123 ) — — — 28,384 Gross profit 66,205 928 123 — — — 67,256 Gross margin 69.2 % 70.3 % Research and development 11,588 (294 ) (495 ) (13 ) — — 10,786 Selling and marketing 17,676 (1,225 ) (347 ) (30 ) — — 16,074 General and administrative 27,350 (3,111 ) (1,880 ) (249 ) — — 22,110 Other, net 785 — — — — — 785 Profit from operations 8,806 5,558 2,845 292 — — 17,501 Interest expense, net (698 ) — — — — 698 — Other (expense) income, net (2,694 ) — — — 1,980 666 (48 ) Income tax benefit 24 — — — — (24 ) — Net income $ 5,438 $ 5,558 $ 2,845 $ 292 $ 1,980 $ 1,340 $ 17,453 (1) Other represents interest expense, net, income tax (expense) benefit for all periods presented. Other for the three months ended March 31, 2025, includes transaction costs related to the planned acquisition of Fabric Genomics. Other for the three months ended December 31, 2024, includes legal costs related to a legal settlement. Expand GeneDx Holdings Corp. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) March 31, 2025 (Unaudited) December 31, 2024 Assets: Current assets: Cash and cash equivalents $ 99,704 $ 85,212 Marketable securities 59,456 55,973 Accounts receivable 45,983 37,426 Inventory, net 12,662 10,650 Prepaid expenses and other current assets 8,011 8,707 Total current assets 225,816 197,968 Operating lease right-of-use assets 24,883 25,613 Property and equipment, net 36,383 32,893 Intangible assets, net 155,094 158,600 Other assets 1 4,254 4,306 Total assets $ 446,430 $ 419,380 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable and accrued expenses $ 41,862 $ 30,044 Short-term lease liabilities 3,124 3,336 Other current liabilities 24,555 21,437 Total current liabilities 69,541 54,817 Long-term debt, net of current portion 51,794 51,913 Long-term lease liabilities 59,918 60,919 Other liabilities 6,619 5,519 Deferred taxes 1,153 965 Total liabilities 189,025 174,133 Stockholders' Equity: Preferred stock — — Class A common stock 2 2 Additional paid-in capital 1,615,501 1,596,889 Accumulated deficit (1,359,003 ) (1,352,474 ) Accumulated other comprehensive income 905 830 Total stockholders' equity 257,405 245,247 Total liabilities and stockholders' equity $ 446,430 $ 419,380 (1) Other assets includes $990 thousand of restricted cash as of both March 31, 2025 and December 31, 2024. Expand GeneDx Holdings Corp. Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts) Three months ended March 31, 2025 2024 Revenue Diagnostic test revenue $ 85,759 $ 61,104 Other revenue 1,356 1,318 Total revenue 87,115 62,422 Cost of services 28,639 25,011 Gross profit 58,476 37,411 Research and development 12,577 11,567 Selling and marketing 18,316 16,085 General and administrative 32,134 23,419 Loss from operations (4,551 ) (13,660 ) Non-operating income (expenses), net Change in fair value of warrants (1,100 ) (6,101 ) Interest expense, net (640 ) (597 ) Other income, net 209 37 Total non-operating expenses, net (1,531 ) (6,661 ) Loss before income taxes $ (6,082 ) $ (20,321 ) Income tax (expense) benefit (447 ) 82 Net loss $ (6,529 ) $ (20,239 ) Weighted average shares outstanding of Class A common stock 28,147,948 26,062,170 Basic and diluted loss per share, Class A common stock $ (0.23 ) $ (0.78 ) Expand GeneDx Holdings Corp. Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands) Three months ended March 31, 2025 2024 Operating activities Net loss $ (6,529 ) $ (20,239 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization expense 5,678 5,248 Stock-based compensation expense 3,983 (451 ) Change in fair value of warrants 1,100 6,101 Deferred tax expense 447 (82 ) Change in third party payor reserves 1,395 (193 ) Other 757 886 Change in operating assets and liabilities: Accounts receivable (8,557 ) 4,220 Inventory (2,032 ) (2,877 ) Accounts payable and accrued expenses 10,824 (4,733 ) Other assets and liabilities 3,116 (4,293 ) Net cash provided by (used in) operating activities 10,182 (16,413 ) Investing activities Purchases of property and equipment (6,129 ) (443 ) Purchases of marketable securities (17,209 ) (5,167 ) Proceeds from sales of marketable securities — 598 Proceeds from maturities of marketable securities 13,930 5,855 Net cash (used in) provided by investing activities (9,408 ) 843 Financing activities Proceeds from offerings, net of issuance costs 13,894 — Exercise of stock options 735 24 Long-term debt principal payments (300 ) — Finance lease payoff and principal payments (611 ) (462 ) Net cash provided by (used in) financing activities 13,718 (438 ) Net increase (decrease) in cash, cash equivalents and restricted cash 14,492 (16,008 ) Cash, cash equivalents and restricted cash, at beginning of period 86,202 100,668 Cash, cash equivalents and restricted cash, at end of period (1) $ 100,694 $ 84,660 Supplemental disclosures of cash flow information Cash paid for interest $ 1,600 $ 2,019 Cash paid for taxes $ 206 $ 300 Purchases of property and equipment in accounts payable and accrued expenses $ 2,197 $ 36 (1) Cash, cash equivalents and restricted cash at March 31, 2025 excludes marketable securities of $59.5 million. Expand
Associated Press
30-04-2025
- Business
- Associated Press
GeneDx Reports First Quarter 2025 Financial Results and Business Highlights
GAITHERSBURG, Md.--(BUSINESS WIRE)--Apr 30, 2025-- GeneDx Holdings Corp. (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, today reported its financial results for the first quarter of 2025. 'Healthcare is at an inflection point where integrating genomic insights into standard care is becoming essential – both for better clinical outcomes and for saving the healthcare system valuable dollars,' said Katherine Stueland, CEO of GeneDx. 'The first quarter exceeded our expectations across all measures, headlined by 62% revenue growth in exome/genome and our third consecutive quarter of profitability, demonstrating the leverage in our business model to drive sustained, profitable growth. We are well positioned to transform genomic testing globally, driving improved outcomes on an even larger scale.' 'Our business continued to exceed expectations, with volume growth accelerating throughout the quarter,' said Kevin Feeley, CFO of GeneDx. 'Looking forward, the combination of continued core momentum, the rolling expansion of new indications in the outpatient setting, and the recent launch of a new ultraRapid genome product are expected to drive incremental volume growth opportunities throughout the remainder of 2025 and beyond.' First Quarter 2025 Financial Results (Unaudited) 1 Revenues Exome and genome volume Gross margin Operating expenses Net Income Cash position (1) Adjusted gross margin, adjusted total operating expenses and adjusted net loss are non-GAAP financial measures. See appendix for a reconciliation of GAAP to Non-GAAP figures presented. GeneDx Full Year 2025 Guidance GeneDx has updated its full year 2025 guidance. Management expects GeneDx to deliver: First Quarter 2025 Business Highlights Driving sustainable growth and market leadership Advancing the field to accelerate market expansion Webcast and Conference Call Details GeneDx will host a conference call today, April 30, 2025, at 8:30 a.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 Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our future performance and our market opportunity, including our expected full year 2025 reported revenue and volume guidance, adjusted gross margin and our adjusted net income in 2025. 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, (iv) our ability to pursue our new strategic direction, and (v) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. 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, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC') on February 20, 2025 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 At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit and connect with us on LinkedIn, Facebook, and Instagram. View source version on CONTACT: Investor Relations Contact: [email protected] Contact: [email protected] KEYWORD: UNITED STATES NORTH AMERICA MARYLAND INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES HEALTH TECHNOLOGY GENETICS OTHER HEALTH PHARMACEUTICAL BIOTECHNOLOGY SOURCE: GeneDx Copyright Business Wire 2025. PUB: 04/30/2025 06:30 AM/DISC: 04/30/2025 06:29 AM
Yahoo
18-03-2025
- Business
- Yahoo
Fast Company Recognizes GeneDx as One of the World's Most Innovative Companies
GeneDx recognized for its innovative approach to accelerating genetic diagnosis and transforming the future of healthcare by ending the diagnostic odyssey GAITHERSBURG, Md., March 18, 2025--(BUSINESS WIRE)--GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, announced today they have been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2025, and recognized as the No. 2 in the Biotech category. This year's list shines a spotlight on businesses that are shaping industry and culture through their innovations to set new standards and achieve remarkable milestones in all sectors of the economy. "Since its inception 25 years ago, GeneDx has been the pioneer in bringing to life the promise of the Human Genome Project, and it's an honor to be recognized for our ability to innovate at scale. Ultimately, our mission is to improve healthcare with the earliest diagnosis of genetic disease, made possible by the interpretation at scale of an individual's genome," said Katherine Stueland, President and CEO of GeneDx. "At GeneDx, patients are at the core everything we do, from improving clinical outcomes to delivering better health economics. As we look to the future, our innovation will fuel a future of genome-informed healthcare for everyone, from birth and through all stages of life." As the driving force behind scaling precision medicine, GeneDx is revolutionizing whole genome sequencing (WGS) to deliver faster, more accurate diagnoses to patients. With industry-leading innovations, GeneDx has slashed WGS turnaround time to as little as 48 hours, ensuring that critical answers reach patients and their families with unprecedented speed. GeneDx is also leading a transformative shift in newborn screening (NBS), redefining the standard of care through groundbreaking research from the GUARDIAN study —the largest of its kind to explore the power of genomic newborn screening (gNBS) in a diverse newborn population. While traditional NBS varies by state and relies on biomarker detection, it often fails to catch conditions that lack clear biomarkers, leaving too many children undiagnosed until symptoms appear. This outdated approach is fueling a pipeline of sick children into an already overburdened healthcare system—when a better solution exists. Today GeneDx has the capability to deploy gNBS at scale, screening newborns for over 450 actionable genetic conditions that are currently overlooked by standard tests. By identifying these conditions before symptoms arise, GeneDx is not only giving children a healthier start in life but also alleviating the financial and emotional burdens of delayed diagnoses. Every investment in GeneDx fuels transformation and innovation across genomic testing, bringing the promise of genomic insights to more patients, more efficiently, and at an unparalleled scale. "Our list of the Most Innovative Companies offers both a comprehensive look at innovation today and a playbook for the future," said Fast Company editor-in-chief Brendan Vaughan. "This year, we recognize companies that are harnessing AI in deep and meaningful ways, brands that are turning customers into superfans by overdelivering for them, and challengers that are introducing bold ideas and vital competition to their industries. At a time when the world is rapidly shifting, these companies are charting the way forward." To determine honorees, Fast Company's editors and writers review companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world. The full list of Fast Company's Most Innovative Companies honorees can now be found at About GeneDx At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest, rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit and connect with us on LinkedIn, Facebook, and Instagram. About Fast Company Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with fellow business publication Inc. For more information, please visit Forward Looking Statements This press release may contain "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. 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, (iv) our ability to pursue our new strategic direction, and (vi) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. The foregoing list of factors is not exhaustive. A further list and description of risks, uncertainties and other matters can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, 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. View source version on Contacts Investor Relations Contact: Investors@ Media Contact: Press@ Sign in to access your portfolio
