US stock futures dip as Trump’s firing of Cook sparks Fed independence fears
GAITHERSBURG, Md. - On Tuesday, GeneDx Holdings Corp. (NASDAQ:WGS) reported second quarter revenue that substantially exceeded analyst expectations, driven by explosive growth in its core exome and genome testing business.
The genomic testing company’s shares surged 25.27% in pre-market trading after the release.
The company reported second quarter revenue of $102.7 million, marking a 49% increase YoY and significantly beating the analyst consensus of $85.45 million. Adjusted earnings per share came in at $0.50, far surpassing the $0.12 estimate. GeneDx’s exome and genome testing revenue, which represents its core business, jumped 69% YoY to $85.9 million.
"Crossing the $100 million revenue mark and delivering our fourth consecutive profitable quarter is a major milestone for GeneDx," said Katherine Stueland, CEO of GeneDx. "Our strong second quarter performance was driven by our core business, underscoring its strength and resilience."
The company expanded its adjusted gross margin to 71%, up from 62% in the same quarter last year, while generating adjusted net income of $15 million compared to a $2 million loss in the year-ago period.
Based on the strong performance, GeneDx raised its full-year 2025 guidance, now expecting revenue between $400 million and $415 million, well above the analyst consensus of $369.5 million. The company also increased its forecast for exome and genome revenue growth to 48-52%, up from its previous guidance of 30%.
The results come as the American Academy of Pediatrics recently recommended pediatricians use exome and genome testing as first-line for children with global developmental delay or intellectual disability, potentially expanding GeneDx’s market reach.
The company also completed the acquisition of Fabric Genomics during the quarter, enabling a hybrid centralized and decentralized model for delivering genomic insights globally.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.