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GeneDx Reports Second Quarter 2026 Financial Results
•Reported second quarter 2026 revenue of $114.4 million, including $100.3 million in exome and genome revenue
•Reported exome and genome volume growth of 32% year-over-year
•Reported adjusted gross margin(1) of 70% and adjusted net income(1) of $0.4 million
•Reiterating full year 2026 revenue guidance of $475 to $490 million with exome and genome volume growth of at least 30%
•Hosting conference call today at 4:30 p.m. ET

GAITHERSBURG, Md., August 3, 2026 — GeneDx Holdings Corp. (Nasdaq: WGS), the leader in rare disease diagnosis and improving health through the power of genomic data, today reported its financial results for the second quarter of 2026.
“Our team’s unwavering focus and agility drove a strong second quarter. By delivering healthy revenue, volume, and gross margin growth, we successfully navigated our return to profitability” said Katherine Stueland, CEO of GeneDx. “We are managing the transition to genome testing, making progress on each of our key imperatives — optimizing unit economics, growing utilization, and delivering the best products at unmatched scale — while continuing to extend our industry-leading position in both exome and genome testing to reach as many patients and families as soon as possible.”

Second Quarter 2026 Financial Results (Unaudited)(1)
Revenue
•Revenue grew to $114.4 million, an increase of 11% year-over-year.
•Exome and genome test revenue grew to $100.3 million, an increase of 17% year-over-year.
Exome and genome volume
•Exome and genome test result volume grew to 30,785, an increase of 32% year-over-year.
Gross margin
•Adjusted gross margin of 70% in the second quarter of 2026 is up from 69% in the first quarter of 2026 and compares to 71% in the second quarter of 2025.
◦GAAP gross margin was 68%.
Operating expenses
•Adjusted total operating expenses were $80.3 million, representing 70% of revenue.
◦Total GAAP operating expenses were $95.7 million.
Net income
•Adjusted net income was $0.4 million, up $8.6 million from the first quarter of 2026 and compared to adjusted net income of $16.4 million in the second quarter of 2025.
◦GAAP net loss was $17.7 million.


Cash position
•Cash, cash equivalents, marketable securities and restricted cash was $133.5 million as of June 30, 2026.
•On August 3, 2026, the Company amended and restated its existing loan agreement with Blackstone, adding an additional $50.0 million term loan facility and increasing the aggregate principal amount available under the facility to $150.0 million. Concurrently, an affiliate of Blackstone agreed to purchase approximately $5.0 million of the Company’s Class A common stock at $61.00 per share in a private placement.
◦Combined with the cash, cash equivalents, marketable securities and restricted cash balance of $133.5 million as of June 30, 2026, the Company’s pro forma cash position following this transaction is approximately $188 million.
(1)Adjusted gross margin, adjusted total operating expenses and adjusted net income are non-GAAP financial measures. See appendix for a reconciliation of GAAP to non-GAAP figures presented.
GeneDx 2026 Guidance
GeneDx has reaffirmed its full year 2026 guidance and has provided guidance for the third quarter of 2026. Management expects GeneDx to deliver:
MetricFull Year 2026 GuidanceThird Quarter 2026 Guidance
Revenue
$475 to $490 million
$122 to $124 million
Exome and genome volume
At least 30% growth
33,200 tests
Exome and genome revenue
At least 20% growth
$110 to $112 million
Adjusted gross margin
Approximately 70%
Approximately 70%
Adjusted net income
Positive
Approximately $2 million

Second Quarter 2026 and Recent Business Highlights
Strategic Expansion and Market Leadership
•Appointed Mark Gardner as President to lead GeneDx’s commercial and operations teams through the next phase of growth, with a focus on strengthening execution, scaling efficiently, and expanding the company’s leadership in genomic medicine.
•Launched redesigned exome and genome reports to streamline the delivery of genomic insights to non-genetics clinicians as part of a broader suite of customer experience improvements rolling out this summer.
Expanded Coverage for Exome and Genome
•Improved access to exome sequencing in Texas with new Medicaid coverage effective May 1, 2026, building on existing genome sequencing coverage in the state.
•Received California Medicaid (Medi-Cal) pricing for genome sequencing effective July 1, 2026, with pricing published at 100% of the Medicare rate. Coverage for genome sequencing in California was originally announced as effective November 1, 2025.
•Secured outpatient genome sequencing coverage from Carelon, the nation’s largest lab benefit manager, opening access to up to 56 million covered lives. The policy is effective June 14, 2026.
•Expanded the total number of state Medicaid programs covering outpatient exome and/or genome sequencing to 39 following Mississippi Medicaid’s announcement of coverage for both tests effective July 1, 2026.
Innovation and Clinical Leadership
•Contributed to 26 peer-reviewed publications, 41 conference presentations, and 50 abstracts in the first half of 2026, reflecting the depth and breadth of the Company’s scientific expertise and its commitment to moving the field forward.
Webcast and Conference Call Details
GeneDx will host a conference call today, August 3, 2026, at 4:30 p.m. Eastern Time. Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event will be available on the “Events” section of the GeneDx investor relations website at https://ir.genedx.com/.


Non-GAAP Financial Measures
GeneDx believes non-GAAP measures are useful in evaluating its operating performance. GeneDx uses this supplemental information to evaluate its ongoing operations and for internal planning and forecasting purposes. GeneDx believes that non-GAAP financial information, when taken collectively with its GAAP financial information, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. We define non-GAAP financial measures as GAAP measures, excluding certain items such as stock-based compensation expense, depreciation and amortization, restructuring costs, changes in the fair value of financial liabilities, non-core lease costs, and other expenses that the Company believes are not indicative of its ongoing operations. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future performance and our market opportunity, including our expectations for full year and third quarter 2026 revenue, exome and genome revenue and test volumes, adjusted gross margin and adjusted net income. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to implement business plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, and (iv) future expansion of insurance coverage for exome and genome testing. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, filed with the SEC on May 4, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026, filed with the SEC on August 3, 2026, and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.
About GeneDx
GeneDx’s (Nasdaq: WGS) mission is to empower everyone to live their healthiest life through genomics. GeneDx combines unmatched clinical expertise, advanced technology, and the power of GeneDx Infinity™ – the world’s largest rare disease genomic dataset. This unparalleled foundation powers GeneDx’s ExomeDx™ and GenomeDx™ tests – ranked #1 by expert geneticists and granted FDA Breakthrough Device designation – enabling clinicians to deliver precise, fast, and actionable diagnoses. GeneDx Infinity also fuels discovery for biopharma, with the most powerful AI-driven genomic intelligence. A genomics pioneer over the last 25 years, diagnosing more than 4,800 genetic diseases and publishing more than 1,100 research publications, GeneDx is building the network that will drive the future of genomic precision medicine. For more information, visit genedx.com and connect with us on LinkedIn, Facebook, and Instagram.

Investor Relations Contact:
Investors@GeneDx.com
Media Contact:
Press@GeneDx.com


Volume & Revenue
2Q261Q264Q253Q252Q25
Volumes
Whole exome, whole genome30,78527,48827,76125,70223,246
Other panels32,05727,72931,28134,51434,510
Total62,84255,21759,04260,21657,756
Revenue ($ millions)
Whole exome, whole genome$100.3 $90.6 $104.0 $98.9 $86.0 
Other panels11.6 10.7 13.3 14.6 14.1 
Data information2.3 0.8 2.6 1.5 2.0 
Software and interpretation services
0.2 0.2 1.1 1.7 0.6 
Total$114.4 $102.3 $121.0 $116.7 $102.7 




Unaudited Select Financial Information
Three months ended June 30, 2026
ReportedDepreciation and amortizationStock-based compensationRestructuring costsChange in FV of financial liabilities
Other(2)
Adjusted
Diagnostic test revenue$111,886 $— $— $— $— $— $111,886 
Other revenue2,554 — — — — — 2,554 
Total revenue114,440 — — — — — 114,440 
Cost of services36,202 (1,726)(561)(47)— — 33,868 
Gross profit
78,238 1,726 561 47 — — 80,572 
Gross margin68.4 %70.4 %
Research and development19,656 (271)(1,387)(1,036)— — 16,962 
Selling, general and administrative76,037 (4,717)(4,394)(2,212)— (1,353)63,361 
(Loss) income from operations
(17,455)6,714 6,342 3,295 — 1,353 249 
Interest expense, net
(1,185)— — — — 1,185 — 
Other income (expense), net382 — — — (220)— 162 
Income tax benefit518 — — — — (518)— 
Net (loss) income
$(17,740)$6,714 $6,342 $3,295 $(220)$2,020 $411 
Basic (loss) earnings per share(1)
$(0.60)$0.01 
Diluted (loss) earnings per share(1)
$(0.60)$0.01 
Three months ended June 30, 2025
ReportedDepreciation and amortizationStock-based compensationRestructuring costsChange in FV of financial liabilities
Other(2)
Adjusted
Diagnostic test revenue$100,100 $— $— $— $— $— $100,100 
Other revenue2,592 — — — — — 2,592 
Total revenue102,692 — — — — — 102,692 
Cost of services31,790 (1,389)(193)— — — 30,208 
Gross profit
70,902 1,389 193 — — — 72,484 
Gross margin69.0 %70.6 %
Research and development15,079 (209)(1,422)— — — 13,448 
Selling, general and administrative46,863 (4,593)(6,198)(73)— 6,937 42,936 
Income from operations8,960 6,191 7,813 73 — (6,937)16,100 
Interest expense, net
(817)— — — — 817 — 
Other income (expense), net2,420 — — — (2,181)49 288 
Income tax benefit246 — — — — (246)— 
Net income$10,809 $6,191 $7,813 $73 $(2,181)$(6,317)$16,388 
Basic earnings per share(1)
$0.38 $0.57 
Diluted earnings per share(1)
$0.36 $0.55 
(1)Basic and diluted reported loss per share and Basic adjusted earnings per share are calculated based on 29,710,139 weighted average shares outstanding and Diluted adjusted earnings per share are calculated based on 30,144,132 weighted average shares outstanding for the three months ended June 30, 2026. Basic and diluted earnings per share are calculated based on 28,579,704 and 29,753,933 weighted average shares outstanding for the three months ended June 30, 2025, respectively.
(2)Other represents interest expense, net, income tax benefit and non-core lease costs for all periods presented. For the three months ended June 30, 2026, Other also includes costs related to legal reserves. For the three months ended June 30, 2025, Other includes transaction costs incurred in connection with the acquisition of Fabric Genomics and a sales-and-use tax refund.


Unaudited Select Financial Information
Three months ended March 31, 2026
ReportedDepreciation and amortizationStock-based compensationRestructuring costsChange in FV of financial liabilitiesExtinguishment
of debt
Other(2)
Adjusted
Diagnostic test revenue$101,299 $— $— $— $— $— $— $101,299 
Other revenue955 — — — — — — 955 
Total revenue102,254 — — — — — — 102,254 
Cost of services34,043 (1,462)(380)— — — — 32,201 
Gross profit68,211 1,462 380 — — — — 70,053 
Gross margin66.7 %68.5 %
Research and development19,804 (224)(1,406)(224)— — — 17,950 
Selling, general and administrative74,591 (5,123)(7,210)(215)— — (1,916)60,127 
Impairment loss31,287 — — — — — (31,287)— 
Loss from operations(57,471)6,809 8,996 439 — — 33,203 (8,024)
Interest expense, net(717)— — — — — 717 — 
Other (expense) income, net(4,231)— — — (2,540)6,565 — (206)
Income tax expense(897)— — — — — 897 — 
Net loss$(63,316)$6,809 $8,996 $439 $(2,540)$6,565 $34,817 $(8,230)
Basic and diluted loss per share(1)
$(2.16)$(0.28)
(1)Basic and diluted loss per share are calculated based on 29,335,126 weighted average shares outstanding for the three months ended March 31, 2026.
(2)For the three months ended March 31, 2026, Other represents interest expense, net, income tax expense and non-core lease costs, costs related to legal reserves, and impairment of goodwill and intangible assets associated with the Fabric Genomics acquisition.


GeneDx Holdings Corp.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
June 30, 2026 (Unaudited)December 31, 2025
Assets:
Current assets:
Cash and cash equivalents$60,317 $104,997 
Marketable securities72,231 66,285 
Accounts receivable83,610 74,370 
Inventory, net17,820 13,951 
Prepaid expenses and other current assets12,382 8,685 
Total current assets246,360 268,288 
Operating lease right-of-use assets33,535 23,412 
Property and equipment, net54,316 45,693 
Goodwill1,641 13,520 
Intangible assets, net141,350 168,481 
Other assets(1)
4,284 4,316 
Total assets$481,486 $523,710 
Liabilities and Stockholders’ Equity:
Current liabilities:
Accounts payable and accrued expenses$42,091 $57,645 
Short-term lease liabilities5,709 4,404 
Other current liabilities26,828 46,859 
Total current liabilities74,628 108,908 
Long-term debt, net of current portion96,836 48,176 
Long-term lease liabilities64,857 56,046 
Other liabilities71 1,641 
Deferred taxes873 757 
Total liabilities237,265 215,528 
Stockholders’ Equity:
Preferred stock— — 
Class A common stock3 3 
Additional paid-in capital1,698,427 1,680,738 
Accumulated deficit(1,454,551)(1,373,495)
Accumulated other comprehensive income342 936 
Total stockholders’ equity244,221 308,182 
Total liabilities and stockholders’ equity$481,486 $523,710 
(1)Other assets includes $1.0 million of restricted cash as of both June 30, 2026 and December 31, 2025.


GeneDx Holdings Corp.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
Three months ended June 30,Six months ended June 30,
2026202520262025
Revenue
Diagnostic test revenue$111,886 $100,100 $213,185 $185,859 
Other revenue2,554 2,592 3,509 3,948 
Total revenue114,440 102,692 216,694 189,807 
Cost of services36,202 31,790 70,245 60,429 
Gross profit78,238 70,902 146,449 129,378 
Research and development19,656 15,079 39,460 27,656 
Selling, general and administrative76,037 46,863 150,628 97,313 
Impairment loss— — 31,287 — 
(Loss) income from operations(17,455)8,960 (74,926)4,409 
Non-operating (expense) income, net
Change in fair value of financial liabilities220 2,181 2,760 1,081 
Interest expense, net(1,185)(817)(1,902)(1,457)
Loss on extinguishment of debt— — (6,565)— 
Other income (expense), net162 239 (44)448 
Total non-operating (expense) income, net(803)1,603 (5,751)72 
(Loss) income before income taxes(18,258)10,563 (80,677)4,481 
Income tax benefit (expense)518 246 (379)(201)
Net (loss) income$(17,740)$10,809 $(81,056)$4,280 
Weighted-average shares outstanding of Class A common stock - Basic29,710,139 28,579,704 29,523,66928,365,018
Basic (loss) earnings per share, Class A common stock $(0.60)$0.38 $(2.75)$0.15 
Weighted-average shares outstanding of Class A common stock - Diluted
29,710,139 29,753,933 29,523,669 29,642,555 
Diluted (loss) earnings per share, Class A common stock
$(0.60)$0.36 $(2.75)$0.14 


GeneDx Holdings Corp.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
Six months ended June 30,
20262025
Operating activities
Net (loss) income$(81,056)$4,280 
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense13,523 11,869 
Stock-based compensation expense15,338 11,796 
Change in fair value of financial liabilities(2,760)(1,081)
Deferred tax expense379 202 
Change in third party payor reserves(1,022)5,014 
Loss on extinguishment of debt6,565 — 
Impairment loss31,287 — 
Other2,157 1,510 
Change in operating assets and liabilities:
Accounts receivable(9,240)(9,889)
Inventory(3,973)(1,404)
Accounts payable and accrued expenses(12,566)7,199 
Other assets and liabilities(20,021)(8,894)
Net cash (used in) provided by operating activities(61,389)20,602 
Investing activities
Acquisition of business, net of cash acquired— (33,195)
Purchases of marketable securities(29,065)(30,770)
Proceeds from sales of marketable securities2,272 — 
Proceeds from maturities of marketable securities20,475 26,705 
Purchases of property and equipment and development of internal-use software
(16,567)(8,498)
Net cash used in investing activities(22,885)(45,758)
Financing activities
Proceeds from long term debt, net of issuance costs96,699 — 
Proceeds from offerings, net of issuance costs— 13,766 
Proceeds from issuance of common stock from subscription agreements476 — 
Proceeds from issuance of common stock pursuant to employee stock purchase plan1,793 1,262 
Exercise of stock options58 800 
Repayment of long-term debt, including prepayment penalty - Perceptive(54,000)— 
Repayment and principal payments for long-term debt - DECD(4,447)(602)
Finance lease principal payments(984)(1,162)
Net cash provided by financing activities39,595 14,064 
Net decrease in cash, cash equivalents and restricted cash
(44,679)(11,092)
Cash, cash equivalents and restricted cash, at beginning of period105,989 86,202 
Cash, cash equivalents and restricted cash, at end of period (1)
$61,310 $75,110 
Supplemental disclosures of cash flow information
Cash paid for interest$3,813 $3,210 
Cash paid for taxes$2,221 $920 
Lease liability from obtaining right-of-use asset$12,086 $— 
Purchases of property and equipment in accounts payable and accrued expenses$3,154 $5,752 
(1)Cash, cash equivalents and restricted cash as of June 30, 2026 excludes marketable securities of $72.2 million.