Record Revenue Achievement
GeneDx achieved over $100 million in revenue for the first time in a single quarter, with second quarter revenues of $102.7 million, a 49% increase year-over-year.
Exome and Genome Revenue Surge
Revenue from exome and genome testing reached a record high of $85.9 million, up 69% from the same quarter last year.
Strong Gross Margin
The company expanded its adjusted gross margin to a record high of 71%, driven by a favorable mix shift, improved reimbursement, and lower costs.
Pediatric Neurologist Market Success
Pediatric neurologists made up a majority of new ordering providers, capturing nearly 1/3 of the target clinicians in this segment.
NICU Market Opportunity
The NICU represents a $1 billion market opportunity, with 42 out of 50 top NICUs having ordered testing from GeneDx this year.
Guidance Increase
Raised full-year revenue guidance to between $400 million and $415 million, with an expectation of at least 30% year-over-year volume growth.