GeneDx Reports Third Quarter 2026 Financial Results

• Reported third quarter 2026 revenue of $123.1 million, including $110.4 million in exome and genome revenue
• Reported exome and genome volume growth of 25% year-over-year with accession growth of 28% year-over-year
• Expanded adjusted gross margin⁽¹⁾ to 72% and adjusted net income⁽¹⁾ to $8.6 million
• Reiterating full year 2026 revenue guidance of $475 to $490 million
• Hosting conference call today at 4:30 p.m. ET

GAITHERSBURG, Md.--(BUSINESS WIRE)--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 third quarter of 2026.

“Our Q3 results reflect profitable execution in a growing market, as we translate the rising demand for exome and genome testing into durable revenue growth,” said Katherine Stueland, CEO of GeneDx. “Our priorities are clear: improve the economics of our testing, expand utilization, and deliver leading products at scale. By uniting these priorities with our clinical expertise and differentiated exome and genome capabilities, we are bringing life-changing answers to more families.”

Third Quarter 2026 Financial Results (Unaudited)⁽¹⁾

Revenue

• Revenue grew to $123.1 million, an increase of 5% year-over-year.
• Exome and genome test revenue grew to $110.4 million, an increase of 12% year-over-year.

Exome and genome volume

• Exome and genome test result volume grew to 32,134, an increase of 25% year-over-year, with accession growth of 28% year-over-year.

Gross margin

• Adjusted gross margin of 72% in the third quarter of 2026 is up from 70% in the second quarter of 2026 and compares to 74% in the third quarter of 2025.
  • GAAP gross margin was 70%.

Operating expenses

• Adjusted total operating expenses were $79.4 million, representing 65% of revenue.
  • Total GAAP operating expenses were $96.5 million.

Net income

• Adjusted net income was $8.6 million, up $8.2 million from the second quarter of 2026 and compared to adjusted net income of $16.1 million in the third quarter of 2025.
  • GAAP net loss was $12.3 million.

Cash position

• Cash, cash equivalents, marketable securities and restricted cash was $171.1 million as of September 30, 2026.

GeneDx 2026 Guidance

GeneDx has updated its 2026 guidance and has provided guidance for the fourth quarter of 2026. Management expects GeneDx to deliver:

Third Quarter 2026 and Recent Business Highlights

Strategic Expansion and Market Leadership

• Announced genome testing portfolio enhancement with long-read whole genome sequencing (lrWGS) using a targeted, phenotype-driven approach that draws on GeneDx Infinity™ and decades of clinical experience to identify eligible patients upfront.
• Launched additional customer experience features, including simplified test reports, easy ordering, and report guides to simplify genomic testing from ordering through understanding and communicating results.
• Launched a new online offering designed to expand accessibility of exome testing for pediatric patients with global developmental delay (GDD), intellectual disability (ID) or epilepsy by enabling families to initiate genetic testing online and connect with licensed healthcare providers who can review medical information, order testing, and deliver results without requiring traditional in-person visits.
• Collaborated with Mirum Pharmaceuticals to launch sponsored testing program, providing no-cost exome testing for eligible patients with unexplained cholestasis, early onset cataracts, or suspected or confirmed peroxisome biogenesis disorder–Zellweger spectrum disorder (PBD-ZSD).
• Partnered with Beren Therapeutics P.B.C. to launch the NPC GenomeComplete Sponsored Testing Program, providing no-cost comprehensive genome sequencing for eligible pediatric patients with clinical findings, family history, or biomarker evidence suggestive of Niemann-Pick Disease Type C (NPC), helping address barriers to diagnosis and identify children who are currently undiagnosed.

Expanded Coverage for Exome and Genome

• Expanded the number of state Medicaid programs covering whole genome sequencing to 25 with the addition of Arkansas and Utah Medicaid.
• Appointed Nicole Maassen, J.D. as Chief Patient Access Officer to lead Market Access and Government Affairs with a focus on advancing payer partnerships, building upon government relations efforts, and translating positive coverage policies into timely access for children who need testing.

Innovation and Clinical Leadership

• Published new data in collaboration with the clinical genetics team at Seattle Children’s demonstrating that implementing first-tier rapid genome sequencing (rGS) broadly across inpatient pediatric care units improves diagnostic rates, patient outcomes, and operational efficiency within health systems.
• Presented 27 scientific abstracts at the American Society of Human Genetics (ASHG) 2026 Annual Meeting, highlighting how exome and genome sequencing are advancing scientific discovery, earlier diagnosis and more precise care. Research highlighted five areas:
  • Scaling genomic interpretation with AI and machine learning: A GeneDx-led platform presentation explores machine learning to prioritize relevant copy number variants (CNVs), reflecting the company’s human-first, human-last approach to leveraging AI decision support tools in exome and genome sequencing analysis.
  • Advancing exome and genome sequencing as standard of care: Research from more than 100,000 individuals with autism examines factors influencing molecular diagnostic yield, adding evidence to support broad genomic testing for complex neurodevelopmental conditions.
  • Translating clinical data into actionable insights: Studies explore genotype-first reanalysis, emerging genotype-phenotype associations, rare variant detection and the health-economic value of first-line exome and genome sequencing.
  • Accelerating gene discovery: Nine abstracts using GeneDx Infinity™, GeneMatcher and global research collaborations to identify novel disease-associated genes and expand understanding of developmental and neurodevelopmental disorders.
• Demonstrated progress toward making genomic newborn screening a scalable and accessible part of proactive healthcare at the International Consortium on Newborn Sequencing (ICoNS) conference, including new findings from the GUARDIAN study, which has enrolled 30,000 newborns with a 72.3% parental participation rate, demonstrating the feasibility and clinical value of genomic newborn screening across diverse populations.
• Partnered with the BRIDGES-NBS initiative to begin enrollment in Oregon as part of the nation's first coordinated, multi-state genomic newborn screening study. GeneDx serves as the integrated laboratory partner, providing genome sequencing and interpretation to screen up to 30,000 newborns for more than 700 actionable genetic conditions over two years.

Webcast and Conference Call Details

GeneDx will host a conference call today, November 9, 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 fourth 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, (iv) future expansion of insurance coverage for exome and genome testing, and (v) the anticipated impacts of regulatory reimbursement changes. 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, our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2026, filed with the SEC on November 9, 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