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About

GeneDx Holdings Corp., a genomics company, provides genetic testing services.

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📈 Growth Pattern

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⭐ Superinvestors Holding WGS

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Manager	Shares	Value	% of Fund	Period
Cathie Wood ARK Investment Management	1.32M	$85.1M	0.66%	Mar 2026
Jim Simons Renaissance Technologies LLC	153.7K	$9.9M	0.02%	Mar 2026
Steve Cohen Point72 Asset Management	75.8K	$4.9M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

📊 MIXED GeneDx Q1 2026: exome/genome volume up 34% YoY, total revenue $102.3M, guidance reset to $475-490M.

Revenue & Profitability

Q1 2026 total revenue was $102.3 million, exome/genome revenue $90.6 million (up 27%). Adjusted gross margin was 69%, and adjusted net loss was $8.2 million. Blended average reimbursement rate was approximately $3,300. Full-year 2026 guidance: total revenue $475–$490 million, exome/genome volume growth at least 30%, adjusted gross margin ~70%, and adjusted profitability in H2 2026.

Outlook

Management is confident in the long-term opportunity, citing that over 300 million people globally live with a rare disease. They expect the shift to exome and genome to continue, with genome adoption accelerating among geneticists. Key tailwinds include expanding state Medicaid coverage (38 states now covering either test) and growing clinical/health economic evidence. Near-term headwinds include mix shift to lower-reimbursed genomes and longer sales cycles in biopharma.

Growth Drivers

Growth is driven by conversion of the ~50% of tests still using single-gene or multi-gene panels to exome/genome. New market expansion includes NICU (with rapid/ultra-rapid genomes), general pediatrics (early exome orders), and prenatal (genome additive to exome). The reflex product launched in February 2026 allows management of the genome transition while preserving unit economics. Same-store sales and high clinician retention in pediatric specialties also contribute.

Balance Sheet & CapEx

GeneDx is investing in AI and automation to reduce cost per test for genome sequencing. The company cut $25 million in planned OpEx for 2026, primarily by recalibrating hiring and marketing timing, while protecting investments in commercial expansion, market access, revenue cycle, and product leadership. Specific CapEx guidance was not provided on the call.

Margins

Adjusted gross margin was 69% in Q1 2026, guided to approximately 70% for the full year. Exome has a higher gross margin than genome due to better reimbursement; genome margins are currently lower but expected to improve with scale and coverage expansion. The company is actively managing the transition with reflex products to sustain margins. OpEx reductions of $25 million in planned spend aim to return to adjusted profitability in H2 2026.

Key Risks

Key risks flagged include: lower-than-expected blended average reimbursement rate due to product mix shifts (exome vs. genome, parental comparator mix), slower volume ramp in new expansion markets (general pediatrics, prenatal), longer-than-anticipated sales cycles in biopharma, and execution risk in non-core businesses (Fabric). Management also noted forecasting precision as a lesson learned and is working to rebuild credibility through more conservative assumptions.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-03

Record Q2 volume and revenue exceeded guidance, with profitability achieved ahead of schedule. Strong demand and expanded payer coverage, especially for genome testing, set the stage for sustained growth, with significant improvements in collection rates and cash flow expected in late 2026 and 2027.

Q1 2026 Q1 2026 2026-05-04

Exome and genome test volumes grew 34% year-over-year in Q1, but revenue fell short due to lower average reimbursement rates and underperformance in non-core segments. Full-year guidance was reduced, with a focus on core diagnostics, cost control, and a return to adjusted profitability.

Q4 2025 Q4 2025 2026-02-23

Q4 2025 saw 27% revenue growth and 71% gross margin, driven by exome/genome testing and market expansion. 2026 guidance projects $540M–$555M revenue and 33%–35% volume growth, with major investments in sales and R&D to capture new markets and sustain profitability.

Q3 2025 Q3 2025 2025-10-28

Q3 revenue grew 52% year-over-year to $116.7M, with exome/genome revenue up 66%. Guidance for 2025 was raised, driven by strong core growth, expanding NICU and international markets, and new Medicaid coverage in California. Adjusted gross margin reached 74%.

Q2 2025 Q2 2025 2025-07-29

Q2 2025 revenue surged 49% year-over-year to $102.7 million, with Exome and Genome revenue up 69% and adjusted gross margin at a record 71%. Guidance for 2025 was raised, driven by core growth, new indications, and expanding payer coverage, while profitability and cash reserves remain strong.

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