Genedx Holdings Corp. · NASDAQ:WGS
Genedx — Sema4 Holdings — Q1 2022 Earnings Presentation
16 slides from Genedx's earnings presentation, May 12, 2022
Slide 1: Q1 2022 Earnings Presentation
Q1 2022 Earnings Presentation May 2022 Exhibit 99.2
Slide 2: Forward-looking statements
This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, co
Slide 3: Recent Business Highlights
Recent Business Highlights 1Q 20221 revenue growth of 4%2 1Q 20221 resulted volume growth of 27%2 Closed GeneDx acquisition and $200M PIPE3 from leading investors, including Pfizer Streamlined leadership team to enable focused execution and to drive growth Reaffirming 2022 revenue guidance of $305-3
Slide 4: Path to Profitability
4 Path to Profitability Growth at Scale1 Operating Efficiency Transformational Deals • Market leading franchises in Women’s Health & Rare Disease • On track to result 450K+ tests in 2022 • Committed to $50M+ reduction in 2022 cash burn • Significant ASP/margin opportunities via revenue cycle and lab
Slide 5: Strong Start to 2022
Strong Start to 2022 5 Resulted ~85,000 tests excluding COVID-19 +27% yoy and +2% qoq $54M in total revenue +4% yoy (excluding COVID-19 testing)1 $315M in cash & equivalents as of 3/31/22 +$125M undrawn revolver = $440M total liquidity 1Q Resulted Volume 1Q Total Revenue 1Q Balance Sheet 1 1Q22 Reve
Slide 6: Significant Improvement in Adjusted Gross Margin
Significant Improvement in Adjusted Gross Margin1 6 2 1 Adjusted Gross Profit (Loss) is a non-GAAP measure within cost of services. Refer to Appendix for non-GAAP Reconciliation 2 4Q 22E reflects the company’s guidance of 30% gross margin in 4Q 2022E 3 Represents the company’s long range gross margi
Slide 7: Q1 GAAP Financial Highlights
Q1 GAAP Financial Highlights 1Q 2022 1Q 2021 Total Revenue $53.9 $64.2 Revenue (ex-COVID testing) $50.1 $48.3 Gross Profit (Loss) $5.6 ($4.3) Gross Margin 10% (7%) GAAP Net Income (Loss) ($76.9) ($191.8) 1 3 months ended 3/31/22. Certain expenses were previously misclassified as cost of services. Th
Slide 8: Q1 Non-GAAP Financial Highlights
Q1 Non-GAAP Financial Highlights 1Q 2022 1Q 2021 Adjusted Gross Profit2 $7.1 $14.2 Adjusted Gross Margin3 13% 22% Total Adjusted EBITDA4 ($58.9) ($24.8) 1Q 20221 – Financial Highlights USD Millions 1 3 months ended 3/31/22 2 Adjusted Gross Profit (Loss) is a non-GAAP measure within cost of services.
Slide 9: 2022 Guidance
9 55%+ growth YoY Implies 450k+ patient tests resulted Adjusted gross margin to exceed 10% Resulted Volume1 2022 Guidance (now includes GeneDx for eight months) Revenue $305–315M total revenue2 Includes 8 months from GeneDx which implies $350M of pro forma revenue at the midpoint3 Adj. Gross Margin4
Slide 10: Our Financial Profile Exiting 2022
10 Our Financial Profile Exiting 2022 1 $350 million pro forma revenue includes revenue generated by GeneDx in 2022 prior to Deal Close on April 29th 2 Adjusted Gross Margin is a non-GAAP measure. Refer to Appendix for non-GAAP Reconciliation 3 Includes Cash & Equivalents, does not include drawing o
Slide 11: Thank you
Thank you
Slide 12: Appendix
Appendix
Slide 13: Historical COVID-19 Revenue Mix
1Q20 2Q20 3Q20 FY20 1Q21 2Q21 3Q21 4Q21 1Q22 Diagnostic Test 99% 93% 84% 79% 73% 87% 86% 79% 91% COVID 0% 6% 14% 18% 25% 8% 10% 18% 6% Other 1% 1% 2% 2% 2% 4% 4% 3% 3% 1 Certain periods do not add to 100% due to rounding Historical COVID-19 Revenue Mix % of Total Revenue1 13
Slide 14: Non-GAAP Gross Margin Reconciliation
Non-GAAP Gross Margin Reconciliation USD in thousands 14
Slide 15: Non-GAAP EBITDA Reconciliation
Non-GAAP EBITDA Reconciliation USD in thousands 15
Slide 16: Sema4
SMFR semsa4 Nasdaq Listed sema4