Genedx Holdings Corp. · NASDAQ:WGS
Genedx — Q1 2025 Earnings Presentation
38 slides from Genedx's earnings presentation, Apr 30, 2025
Slide 1: GeneDx 1Q 2025 Earnings Presentation
GeneDx (Nasdaq: WGS) 1Q 2025 Earnings Presentation April 30, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our future performance and our market opportunity, including our expected full year 2025 reported revenue and volume guidance, ad
Slide 3: First Quarter 2025 Results
First Quarter 2025 Results1 Grew revenues to $87.1 million, an increase of 42% year-over-year Grew exome and genome test revenue to $71.4 million, an increase of 62% year-over-year, with exome and genome now representing 40% of all test results Delivered adjusted gross margin of 69%, up from 61% in
Slide 4: Full Year 2025 Guidance
Full Year 2025 Guidance Revenues between $360 to $375 million for full year 2025, inclusive of $3 to $5 million in post-close revenue contribution from the planned acquisition of Fabric Genomics, assuming a second quarter 2025 close (previous guidance was revenues between $350 to $360 million) Growt
Slide 5: Strong exome/genome volume growth, picking up mix share
Strong exome/genome volume growth, picking up mix share • Grew Q1 2025 exome/genome volume 24% year-over-year • Grew mix share for exome/genome to 40% 40% 20,562 Quarterly Exome / Genome Exome / Genome Volume Mix 16,592 30% Volume 8,705 16% 5
Slide 6: Turned profitable in 2024 creating a strong cash position
Turned profitable in 2024 creating a strong cash position Quarterly Adj. Net (Loss)/Income (in millions) 1 • Generated first quarter 2025 adjusted net income of $7.7 million • Delivered third consecutive quarter of adjusted net income and second quarter of positive operational cash flow • Cash, cash
Slide 7: Appendix
Appendix Genek
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: Decentralized testing with centralized intelligence, accelerating diagnoses – globally
Decentralized testing with centralized intelligence, accelerating diagnoses – globally 9
Slide 10: Two companies, one shared goal: earlier diagnoses for all
Two companies, one shared goal: earlier diagnoses for all Largest rare disease database in the US AI driven interpretation-as-a-service platform Proprietary genotypic and phenotypic Cloud based, turnkey, scalable, dataset informing interpretation sequencer-agnostic platform State of the art, automat
Slide 11: Fabric Genomics is a solution of choice for leading genomics programs
Fabric Genomics is a solution of choice for leading genomics programs around the world 11
Slide 12: GeneDx + Fabric Genomics full spectrum of genomics offerings
GeneDx + Fabric Genomics will create a full spectrum of genomics offerings, from GeneDx's centralized lab to decentralized interpretation-as-a-service Ultimately, this model will accelerate faster and earlier diagnosis of genetic disease, delivering improved outcomes for pati ents and reducing unnec
Slide 13: The acquisition will expand GeneDx's addressable market
The acquisition will expand GeneDx’s addressable market with multiple scalable revenue streams NICU Genomic Genomic Newborn Decentralization Drives Platform Economics at Testing Screening (gNBS) Global Commercial Scale Expansion With Fabric Genomics' GeneDx’s leadership in early Fabric Genomics’ clo
Slide 14: Combining GeneDx and Fabric Genomics will unlock leverage
Combining GeneDx and Fabric Genomics will unlock leverage within both companies o Complete suite of solutions for hospital systems including full outsourcing, software-as-a-service Suite of Solutions and interpretation-as-a-service o Merging of data and technology from both companies will enable eac
Slide 15: Terms of the Transaction
Terms of the Transaction Purchase price of $33 million upfront with total consideration to reach up to a potential $51 million in the aggregate, payable as follows: $33 million in cash at closing (subject to customary adjustments for cash, debt, transaction expenses and working capital); Up to a max
Slide 16: Healthcare is at an inflection point for genomic insights
Healthcare is at an inflection point where integrating genomic insights into standard care is becoming essential – both for better clinical outcomes and for saving the healthcare system valuable dollars. Together, GeneDx and Fabric Genomics are positioned to transform access to genomic testing globa
Slide 17: 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 17 17 References: 1. Marwaha S, Knowles JW, and Ashley EA. A gu ide for the
Slide 18: 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 19: 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 20: 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 20 Reference: Butler L. et al. Exome-based testing for patients with seizures: Adva
Slide 21: 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 21 Reference: Butler L. et al. Exo
Slide 22: 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 23: 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 >8
Slide 24: 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 25: 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 26: 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 33 states cover exome or genome sequencing • In Q1, New M
Slide 27: 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 27 Data through April 2025
Slide 28: Outpatient market expansion
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, 14% among pediatric ne
Slide 29: Inpatient (NICU) market expansion
Inpatient (NICU) market expansion: A clear unmet need, underscored by decades of earned trust and improved workflows 60% of infants in Level IV NICUs should receive a rapid genome test 1 • Genome testing is severely underutilized, currently ordered for <5% of children who could benefit2 GeneDx has d
Slide 30: 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 31: 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 32: We believe in 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 33: 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 34: 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 35: 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 36: 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. 36
Slide 37: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted gross profit and adjusted gross margin (in $ thousands) Three months ended March 31, Three months ended December 31, 2025 2024 2024 GeneDx Other 1 Total GeneDx Other 1 Total GeneDx Other 1 Total Revenue $ 87,115 $ – $ 87,115 $ 61,461 $ 961 $ 62,
Slide 38: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted net income (in $ thousands) Three months ended March 31, 2025 March 31, 2024 December 31, 2024 Net (loss) income $ (6,529) $ (20,239) $ 5,438 Reconciliations: Depreciation and amortization expense 5,678 5,248 5,558 Stock-based compensation expen