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GeneDx Holdings (WGS)
NASDAQ:WGS
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.11Last Year’s EPS
-0.49Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 15, 2021
|% Change Since: 23.94%
|Next Earnings Date:Aug 16, 2021
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant revenue growth, improved profitability, and expansion in key market segments such as exome and genome testing. Despite challenges such as weather impacts and ongoing reimbursement issues, the company is well-positioned for future growth.Company Guidance
During the GeneDx third-quarter 2024 earnings call, the company announced significant financial achievements and updated its guidance for the year. GeneDx reported $76 million in revenue for Q3, with a gross margin expansion to 64%, marking their tenth consecutive quarter of cash burn reduction and achieving profitability for the first time. The company raised its revenue guidance for the full year to between $284 million and $290 million, reflecting strong growth in exome and genome testing, which contributed $60 million this quarter—a 77% year-over-year increase. The average reimbursement rate for these tests rose to approximately $3,100. GeneDx also highlighted its strategic focus on expanding its market presence, with 80% U.S. market share in exome testing and plans to penetrate further into the pediatric outpatient setting. The company has sequenced over 700,000 clinical exomes and genomes and is leveraging its data for partnerships with biopharma companies. Additionally, GeneDx is advancing its efforts in newborn genomic screening, with the Guardian study showing a 4% positivity rate, underscoring the potential for expanding screening to over 450 actionable conditions.Strong Revenue Growth
GeneDx achieved over $76 million in revenue, representing a 52% increase from Q3 2023 and an 11% sequential increase from Q2 2024.
Profitability Achieved
The company reached profitability in Q3 2024, marking a significant milestone.
Exome and Genome Testing Expansion
Exome and genome revenues grew 77% year-over-year and 18% sequentially, contributing $60 million this quarter.
Increased Revenue Guidance
Full-year 2024 revenue guidance raised to between $284 million and $290 million.
Improved Gross Margin
Gross margin expanded to 64% in Q3 2024, up from 48% a year ago.
Successful Cash Burn Reduction
GeneDx achieved its tenth consecutive quarter of cash burn reduction, with an 88% year-over-year improvement.
NICU and Pediatric Neurologist Market Expansion
Significant progress in NICU and pediatric neurologist markets, with only 12% penetration among pediatric neurologists, indicating future growth potential.
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WGS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WGS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $56.06 | $84.02 | +49.88% |
| Jul 30, 2024 | $30.13 | $32.72 | +8.60% |
| Apr 29, 2024 | $11.00 | $17.07 | +55.18% |
| Feb 20, 2024 | $5.24 | $6.95 | +32.63% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does GeneDx Holdings (WGS) report earnings?
GeneDx Holdings (WGS) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is GeneDx Holdings (WGS) earnings time?
GeneDx Holdings (WGS) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WGS EPS forecast?
WGS EPS forecast for the fiscal quarter 2024 (Q4) is 0.11.
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