Genedx Holdings Corp. ( (WGS) ) has released its Q4 earnings. Here is a breakdown of the information Genedx Holdings Corp. presented to its investors.
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GeneDx Holdings Corp. is a leading company in the genomics industry, providing comprehensive exome and genome testing to improve health outcomes through genetic insights. The company recently released its financial results for the fourth quarter and full year 2024, highlighting significant growth and achievements.
In the fourth quarter of 2024, GeneDx reported revenues of $95.3 million, showing a 64% increase year-over-year, with exome and genome test revenue growing by 101% compared to the previous year. For the full year, the company achieved total revenues of $302.3 million, marking a 56% increase from 2023. The adjusted gross margin for the fourth quarter expanded to 70%, while the full year saw an adjusted gross margin of 65%.
GeneDx also emphasized its strategic advancements, including the launch of ultraRapid Whole Genome Sequencing and the expansion of Medicaid coverage for genomic testing across multiple states. The company introduced new initiatives like a telehealth testing pathway and enhancements to its whole genome sequencing products, aimed at accelerating diagnoses and increasing accessibility.
Looking ahead to 2025, GeneDx expects to achieve revenues between $350 and $360 million, with a projected growth in exome/genome volume and revenue of at least 30%. The company anticipates maintaining adjusted gross margins between 65% and 67%, with profitability expected for each quarter and the full year.
GeneDx’s management remains optimistic about the company’s future, supported by its robust financial position, innovative offerings, and expanding market presence in genomic testing and personalized medicine.
