Genedx Holdings Corp. · NASDAQ:WGS
Genedx — Q4 2024 Earnings Presentation
30 slides from Genedx's earnings presentation, Feb 18, 2025
Slide 1: GeneDx 4Q 2024 Earnings Presentation
GeneDx (Nasdaq: WGS) 4Q 2024 Earnings Presentation February 18, 2025
Slide 2: Forward Looking Statements
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 f
Slide 3: Full Year and Fourth Quarter 2024 Results
Full Year and Fourth Quarter 2024 Results 1, 2 1, 2 Full Year 2024 Fourth Quarter 2024 ✓ Grew revenues 56% year-over-year to $302.3 ✓ Grew revenues 64% year-over-year to $95.3 million million ✓ Grew exome and genome test revenue 88% year- ✓ Grew exome and genome test revenue 101% over-year to $233.5
Slide 4: Full Year 2025 Guidance
Full Year 2025 Guidance Revenues between $350 and $360 million; and exome/genome volume and revenue growth of at least 30% Adjusted gross margins between 65-67% Maintaining profitability with adjusted net income each quarter and for full year 4
Slide 5: Strong exome/genome volume growth, picking up mix share
Strong exome/genome volume growth, picking up mix share • Grew full year 2024 exome/genome volume 51% year-over-year • Grew Q4 2024 exome/genome volume 32% year-over-year and 7% sequentially 25000 40% 38% Quarterly Exome/Genome Volume Exome/Genome Volume Mix 20,676 35% 20000 30% 27% 15,663 15000 25%
Slide 6: Turned profitable in 2024 creating a strong cash position
Turned profitable in 2024 creating a strong cash position 20 Quarterly QuarterlyAdj. Adj.Net Net(loss)/Income (Loss)/Income (in millions) 1, 2 $16.8 10 0 • Generated full year 2024 adjusted net income $6.7 million -10 • Generated Q4 2024 adjusted net income -20 ($18) $16.8 million -30 • Generated p
Slide 7: Appendix
Appendix 7
Slide 8: We envision a world where any genetic disorder is diagnosed quickly
We envision a world where any genetic disorder is diagnosed quickly to prevent disease progression and ensure long and healthy lives for all. 8
Slide 9: 1 in 10 families face an unnecessary diagnostic journey
1 in 10 families face an unnecessary diagnostic journey On average: 16 tests and 5 years before an accurate diagnosis X X X X X X X X X GeneDx can provide 1 year 3 years 5 years an answer in days 2 years 4 years X X X X X X 9 References: 1. Marwaha S, Knowles JW, and Ashley EA. A gu ide for the diag
Slide 10: The diagnostic odyssey: common, critical, and costly
The journey to an accurate diagnosis can take up to five years.1 3x On their journey to a The diagnostic odyssey: diagnosis, rare disease common, critical, and costly patients will be misdiagnosed an average of three times.2 Millions of Americans with a rare 5 years disease are urgently searching fo
Slide 11: Exome and genome testing offer answers sooner
Exome and genome testing offer answers sooner—leading to more effective treatments and more efficient healthcare spend Recommended by leading medical Superior diagnostic rate for many indications including: societies as a first-line test: Developmental delay Intellectual disability Epilepsy …and mor
Slide 12: Common diseases are in fact a constellation of genetic diagnoses
Common diseases are in fact a constellation of genetic diagnoses One example is epilepsy. At least 768 different genes are related to seizures. Only 43% of epilepsy genes are tested on many commercial epilepsy panels 12 Reference: Butler L. et al. Exome-based testing for patients with seizures: Adva
Slide 13: Common diseases are in fact a constellation of genetic diagnoses
Common diseases are in fact a constellation of genetic diagnoses One example is epilepsy. At least 768 different genes are related to seizures. Only 43% of epilepsy genes are tested on many commercial epilepsy panels Exome and genome sequencing checks all 768 genes 13 Reference: Butler L. et al. Exo
Slide 14: GeneDx has spent over a decade solving for the limitations of the past
GeneDx has spent over a decade solving for the limitations of the past and we're working to change the perception of exome and genome sequencing Then Now Results take months GeneDx delivers results in hours, days or weeks Turnaround time GeneDx’s tests are accessible and widely Tests are prohibitive
Slide 15: Accelerating and deepening our competitive advantage with every patient
Accelerating and deepening our competitive advantage with every patient Pay it forward data strategy: the snowballing effect of data accumulated with ever patient we test drives our underlying interpretation platform to get smarter, faster, and more scalable That’s enable us to identify more than >7
Slide 16: Our data is unmatched in size, breadth, and depth
Our data is unmatched in size, breadth, and depth— making it highly infeasible for competitors to recreate • Enriched for rare disease Diagnosing even the rarest conditions for 25 years • 60% of our exomes/genomes are parent/child trios Enabling de novo findings, sequencing asymptomatic parents • 6
Slide 17: Our market opportunity is massive and poised to expand over time
Our market opportunity is massive and poised to expand over time Taking a disciplined approach entering markets as reimbursement pathways open Rolling expansion of exome/genome use cases fuels a: Historical Near Mid Long base term term term Expert geneticists Pediatric specialties (e.g., autism, e
Slide 18: Payor coverage for exome and genome sequencing is expanding
Payor coverage for exome and genome sequencing is expanding 〉 GeneDx is contracted with 80% of covered lives, including all large national commercial payers 〉 Medicaid and commercial insurance coverage continues to grow for exome and genome o 32 states cover exome or genome sequencing • In Q4, Monta
Slide 19: Medicaid programs across the country are expanding access
Medicaid programs across the country are expanding access Current Medicaid Coverage Landscape Exome or Genome Sequencing Rapid Genome Sequencing Both No Coverage New or Enhanced Coverage 19 Data through February 2025
Slide 20: Outpatient market expansion: new indications, coverage and guidelines
Outpatient market expansion: Fueling growth with new indications, coverage and guidelines Today, GeneDx primarily targets epilepsy, autism and intellectual disability/developmental delay, congenital anomalies, and rare disease • We have 80% market share among genetics experts, 13% among pediatric ne
Slide 21: Inpatient (NICU) market expansion
Inpatient (NICU) market expansion: A clear unmet need, underscored by decades of earned trust and improved workflows 1 in 4 infants in U.S. NICUs likely have a genetic disorder1 • Genome testing is severely underutilized, currently ordered for <5% of children who could benefit2 • NICU orders represe
Slide 22: Genetic evidence improves the therapeutic development process
Genetic evidence is one of the most powerful tools to improve the therapeutic development process Tomorrow Today Including genetic evidence can The average therapeutic dramatically reduce cost, shorten development cycle: timelines, and improve success rates: Costs $2.6B Genetic evidence can reduce o
Slide 23: Our partnerships with biopharma companies help accelerate treatments
Our partnerships with biopharma companies help accelerate treatments— from early discovery through commercialization Our collaborations are impacting the lives of patients today: Akouos (Eli Lilly) Regeneron GeneDx partnered with Akouos to Through a data partnership with GeneDx, match patients with
Slide 24: A future where every newborn's genome is sequenced at birth
We believe in a future where every newborn’s genome is sequenced at birth Every year, thousands of newborns with actionable conditions are missed by traditional newborn screening (NBS). Federal NBS guidelines recommend testing for 37 conditions with biomarkers—measurable changes in the baby’s blood
Slide 25: GeneDx is the leader set to revolutionize newborn screening
GeneDx is the leader set to revolutionize the standard approach to today's newborn screening, enabling diagnoses before symptoms even start GeneDx has screened more newborns than any other commercial laboratory. This experience gives GeneDx a deep understanding of how to offer this testing at scale
Slide 26: Multiple drivers to profitable, sustainable growth
Expanding serviceable market o New use cases/ indications / call points stemming from emerging guidelines, expanding and, secular tailwinds towards greater acceptance of exome/genome o The American Academy of Pediatrics last issued their genetic testing guidelines in 2014. An update in support of an
Slide 27: A rare opportunity to fuel seismic healthcare shifts
A rare opportunity to fuel seismic healthcare shifts From years of disease progression early interventions From unnecessary and bloated health costs streamlined economic efficiency to From generalized treatments precision medicines From diagnosing symptomatic disease universal genomic newborn screen
Slide 28: We all know the pain of being "too late"
We all know the pain of being “too late” At GeneDx, we’re making sure that children get answers right on time. We're just getting started. 28
Slide 29: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted gross profit and adjusted gross margin (in $ thousands) Three months ended December 31, Three months ended September 30, 2024 2023 2024 GeneDx Other 1 Total GeneDx Other 1 Total GeneDx Other 1 Total Revenue $ 95,286 $ 354 $ 95,640 $ 58,107 $ (68
Slide 30: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted net income (in $ thousands) Three months ended December 31, 2024 December 31, 2023 September 30, 2024 Net income (loss) $ 5,438 $ (25,773) $ (8,312) Reconciliations: Depreciation and amortization expense 5,558 6,094 5,929 Stock-based compensatio