GeneDx Holdings Corp.

Listed Company

WGSCIK 0001818331NasdaqLarge AcceleratedServices-Health ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$427.54M

Net Income

$-21.02M

Total Assets

$523.71M

Equity

$308.18M

Shares Out

29.29M

Op. Cash Flow

$33.28M

Business

GeneDx Holdings Corp. provides clinical genomic testing and interpretation services focused on diagnosing rare and pediatric genetic diseases. It offers exome and whole genome sequencing, rapid sequencing options, proprietary bioinformatics and automated variant interpretation, and genetic counseling. Its business is organized around diagnostic testing, research and data and information solutions, including collaborations with health systems and biopharma, and customer experience and IT product development. GeneDx distributes services primarily to healthcare providers, hospitals and payors in the United States, with Medicaid and research partnerships and limited international referrals.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	428	305	203	235	212
Cost of services	129	111	113	261	229
Gross profit	298	194	90	−27	−17
Research and development	72	46	58	86	105
Selling and marketing	88	67	61	122	113
General and administrative	151	105	139	216	206
Impairment loss	0	0	10	210	0
Other operating expenses, net	0	0	2	6	—
Loss from operations	−13	−23	−181	−668	−446
Change in fair value of financial liabilities	−1	−13	1	—	—
Interest (expense) income, net	−3	−3	1	—	—
Other (expense) income, net	−4	−13	2	57,000	5
Total non-operating (expense) income, net	−8	−29	4	70	201
Loss before income taxes	−21	−53	−177	−598	−245
Income tax benefit	100,000	300,000	900,000	49	0
Net loss	−21	−52	−176	−549	−245
Unrealized gain related to available for sale securities, net	106,000	405,000	425,000	0	—
Comprehensive loss	−21	−52	−175	−549	−245
Basic weighted average shares outstanding of Class A common stock (in shares)	29	27	24	10	108
Diluted weighted average shares outstanding of Class A common stock (in shares)	29	27	24	10	108
Basic net loss per share, Class A common stock (in dollars per share)	−0.73	−1.94	−7.23	−53.63	−2.27
Diluted net loss per share, Class A common stock (in dollars per share)	−0.73	−1.94	−7.23	−53.63	−2.27

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	105	85	100	124	401
Marketable securities	66	56	30	0	—
Accounts receivable	74	38	—	43	27
Inventory, net	14	11	9	14	33
Prepaid expenses and other current assets	9	9	11	32	—
Total current assets	268	198	182	213	484
Operating lease right-of-use assets	23	26	27	33	0
Property and equipment, net	46	33	32	52	63
Goodwill	14	0	—	—	—
Intangible assets, net	168	159	173	187	0
Other assets	4	4	4	7	7
Total assets	524	419	419	491	554
Accounts payable and accrued expenses	58	31	37	85	—
Short-term lease liabilities	4	3	4	6	0
Other current liabilities	47	20	—	50	33
Total current liabilities	109	55	59	144	101
Long-term debt, net of current portion	48	52	53	6	11
Long-term lease liabilities	56	61	63	60	0
Other liabilities	2	6	15	24	22
Deferred taxes	757,000	965,000	2	3	0
Total liabilities	216	174	191	237	166
Purchase commitments and contingencies (Note 11)	—	—	—	—	—
Preferred Stock, $0.0001 par value: 1,000,000 shares authorized, 0 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	0	0	0	0	0
Class A common stock, $0.0001 par value: 1,000,000,000 shares authorized, 29,245,296 and 28,016,545 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	3,000	2,000	2,000	1,000	24,000
Additional paid-in capital	1,681	1,597	1,528	1,378	964
Accumulated deficit	−1,373	−1,352	−1,300	−1,124	−575
Accumulated other comprehensive income	936,000	830,000	425,000	0	—
Total stockholders equity	308	245	228	254	388
Total liabilities and stockholders equity	524	419	419	491	554

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	25	22	34	59	—
Stock-based compensation expense	32	9	−326,000	42	219
Change in fair value of financial liabilities	1	13	−1	−70	−198
Provision for excess and obsolete inventory	135,000	180,000	4	1	2
Legal reserves	6	0	0	—	—
Change in third party payor reserves	2	607,000	−10	—	—
Other	3	3	−3	3	—
Accounts receivable	−36	−5	11	6	6
Inventory	−3	−3	975,000	2	−11
Accounts payable and accrued expenses	12	−21	−49	34	26
Other assets and liabilities	12	4	−575,000	−8	—
Net cash provided by (used in) operating activities	33	−28	−180	−319	−190
Purchases of marketable securities	−56	−66	−48	0	—
Proceeds from sales of marketable securities	2	601,000	0	—	—
Proceeds from maturities of marketable securities	44	41	18	—	—
Purchases of property and equipment	−19	−5	−5	−7	−9
Proceeds from sales of assets	0	0	4	0	—
Development of internal-use software assets	0	0	−461,000	−7	−11
Net cash used in investing activities	−62	−30	−44	−141	−21
Proceeds from offerings, net of issuance costs	47	46	143	0	—
Proceeds from issuance of stock pursuant to employee stock purchase plan	3	497,000	0	—	—
Exercise of stock options	2	394,000	285,000	3	1
Long-term debt principal payments	−1	−497,000	−2	0	−9
Finance lease payoff and principal payments	−3	−3	−4	−3	−4
Proceeds from long-term debt	0	0	49	0	0
Net cash provided by financing activities	48	44	186	197	494
Net increase (decrease) in cash, cash equivalents and restricted cash	20	−14	−38	−263	283
Cash paid for interest	6	7	3	2	3
Cash paid for taxes	1	1	1	1	349,000
Purchases of property and equipment in accounts payable and accrued expenses	6	3	134,000	0	761,000
Stock consideration paid pursuant to exercise of Perceptive warrant	0	13	0	—	—
Assets acquired under capital leases obligations	0	689,000	0	461,000	1
Issuance of common stock for first OPKO Milestone Payment	0	0	7	0	—
Lease liability from obtaining right-of-use asset	0	0	637,000	0	—

Filings

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