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GeneDx (WGS) investor relations material
GeneDx Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved Q4 2025 revenues of $121 million, up 27% year-over-year, with full-year revenues at $427.5 million, driven by 54% exome and genome revenue growth and strong test volumes.
Exome and genome revenues reached $104 million in Q4, up 32% year-over-year; organic growth rate was 42% excluding a one-time payor recovery.
Maintains leadership in rare disease diagnostics, supported by the largest and most diverse rare disease dataset (Infinity), broad adoption among geneticists and pediatric specialists, and recent FDA Breakthrough Device designation.
Expanded sales force from 60 to 160 reps and entered new markets including general pediatrics, NICU, prenatal, and adult neurology.
Reaffirmed 2026 guidance, projecting a breakout year with significant growth across multiple markets.
Financial highlights
Q4 2025 total revenues: $121 million (+27% YoY); exome/genome revenues: $104 million (+32% YoY); full year 2025 revenue: $427.5 million (+54% YoY).
Adjusted gross margin for Q4 and FY 2025: 71%, up from 65% in 2024 and 45% in 2023.
Adjusted net income: $4.4 million in Q4; $41.8 million for the full year.
Cash on hand at year-end 2025 was $172 million.
Exome/genome test volumes: 27,761 in Q4, with full year 2025 volume at 97,271, up 30.5% year-over-year.
Outlook and guidance
2026 revenue guidance: $540–$555 million; exome/genome volume growth of 33–35%.
Adjusted gross margin expected at ~70% for 2026; adjusted net income positive for the full year and each quarter.
Foundational markets expected to contribute 25–27% to growth; expansion markets 7–8%; future markets 1%.
Q1 2026 projected near breakeven due to front-loaded investments and seasonal factors.
Conservative assumptions for new market ramp, reimbursement, and Medicaid expansion; upside possible if adoption accelerates.
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