Genedx Holdings Corp. · NASDAQ:WGS

Genedx — Q1 2024 Earnings Presentation

31 slides from Genedx's earnings presentation, Apr 29, 2024

  1. Slide 1: One test. Big picture. Brighter futures.

    One test. Big picture. Brighter futures. GeneDx (Nasdaq: WGS)​ April 29, 2024

  2. Slide 2: Disclaimer

    Disclaimer 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

  3. Slide 3: WGS 1Q 2024 Results

    WGS 1Q 2024 Results First quarter 2024 revenue from continuing operations1 of $61.5M with 96% year-over- year revenue growth for exome and genome test revenue First quarter 2024 adjusted gross margins2 for continuing operations of 61% Eight consecutive quarter of cash burn decline: first quarter 202

  4. Slide 4: Updating 2024 Guidance

    Updating 2024 Guidance Drive full year 2024 revenues between $235 to $245 million (previously $220-230 million) Expand full year 2024 adjusted gross margin profile to at least 60% (previously at least 50%) Use $70 to $80 million of net cash for full year 2024 (previously $75-80 million) Turn profita

  5. Slide 5: Revenue - strong growth driven by high value whole exome and genome

    Revenue - strong growth driven by high value whole exome and genome Revenue1 Q1 2024 Increase in 1Q24 exome/genome Revenue from continuing operations $61.5M 91% test result volume year-over-year; +6% sequentially Growth year-over-year 51% Growth sequentially 6% First quarter 2024 revenue from Exome

  6. Slide 6: Gross profit – expansion driven by mix shift, cost per test reductions

    Gross profit – expansion driven by mix shift, cost per test reductions Exome/genome can be the best test for patients. They are also best for our business. Adjusted gross margins1 for continuing 30% Exome/genome test result volume 61% operations in 1Q24, up from 56% in Q4 2023 and 34% in Q1 2023 Adj

  7. Slide 7: Cash - Balance sheet bolstered to execute growth strategy

    Cash - Balance sheet bolstered to execute growth strategy 1 Cash, cash equivalents, marketable securities and $114M1 restricted cash on hand March 31, 2024 $17M 2 71% 8 Net use of cash for the Improvement in total company net Consecutive quarters of total company in Q1 cash burn rate year-over-year;

  8. Slide 8: Our path to profitability and beyond

    For illustrative purposes, Confidential not formal and Proprietary; guidance Do Not Distribute Our path to profitability and beyond What we need for profitability and beyond How we will achieve those goals ▪ On October 30, 2023, we enacted a plan to remove OPEX reduction approximately $40M in annual

  9. Slide 9: One test. Big picture. Brighter futures.

    One test. Big picture. Brighter futures. 9

  10. Slide 10: Appendix

    Appendix Genek

  11. Slide 11: GeneDx is a leader in improving health outcomes through genomic insights.

    GeneDx is a leader in improving health outcomes through genomic insights.

  12. Slide 12: The problem: Lack of genomic data can lead to a cycle of misdiagnosis

    The problem: Lack of genomic data can lead to a cycle of misdiagnosis and suboptimal care Patient presents with Tests are Missed diagnoses impact everyone More symptoms ordered spending Patients/Caregivers • Inappropriate treatments and delayed care Try new • Suffering Suboptimal doctors care Health

  13. Slide 13: GeneDx offers leading exome and genome products

    GeneDx offers leading exome and genome products Translating complex genomic data into definitive diagnoses for patients • Genome sequencing - Analyzes the entirety of an individual’s DNA, which is known as the genome. The genome includes ~20,000 genes. • Exome sequencing – Analyzes the protein codin

  14. Slide 14: Exome sequencing can break the cycle of misdiagnosis and uncertainty

    Exome sequencing can break the cycle of misdiagnosis and uncertainty Expedited Diagnoses Improved Outcomes Reduced Costs Starting with the most vulnerable patients $30,000 per case average savings1* Rapid results Patient retention ✓ ✓ Patient Tests ordered $6,800 savings Patients connected Healthier

  15. Slide 15: Changing the perception of exome and genome sequencing

    Changing the perception of exome and genome sequencing GeneDx has spent over a decade solving for limitations of the past and differentiating our products Then GeneDx Now “These tests take months to get results” “I can get results in days to weeks” Turnaround time “These tests are wildly expensive”

  16. Slide 16: Exome sequencing offers greater diagnostic yields vs. other technologies

    Exome sequencing offers greater diagnostic yields vs. other technologies 1. Savatt JM et al. Front Pediatr. 2021;9:526779. 2. Srivastava S et al. Genet Med. 2019;21(11):2413–2421. 3. Pekeles H et al. Pediatr Neurol. 2019;92:32-36. 4. Stefanski A et al. Epilepsia. 2021;62(1):143-151. 5. Mellone S et

  17. Slide 17: GeneDx is positioned to enable a data-informed future for healthcare.

    GeneDx is positioned to enable a data-informed future for healthcare.

  18. Slide 18: New market expansion enables us to serve more patients

    New market expansion enables us to serve more patients GeneDx is starting with a focus on rare disease and pediatrics and then expanding into larger markets Rare Disease Newborn Adults: $16B & Pediatrics: $3B Screening: $10B Rapidly growing patient Currently participating in Expanding into adult mar

  19. Slide 19: We're focused on the Rare Disease & Pediatrics market today

    We're focused on the Rare Disease & Pediatrics market today Outpatient Inpatient Target Clinicians: o Geneticists Target Clinicians: o Pediatric Neurologists​ o Geneticists o Developmental Pediatricians o Neonatologists​ o Pediatricians (long-term) Products: Products: o Primarily rapid whole o Prima

  20. Slide 20: Payor coverage for exome and genome sequencing is expanding

    Payor coverage for exome and genome sequencing is expanding 〉 GeneDx is contracted with over 80% of covered lives, including all large national commercial payers 〉 Medicaid and commercial insurance coverage continues to grow for exome and genome o 28 states cover exome sequencing o 11 states cover r

  21. Slide 21: Medicaid programs across the country are expanding access

    Medicaid programs across the country are expanding access Current Medicaid Coverage Landscape Whole Exome Sequencing Rapid Genetic Testing Both No Coverage 21 Data through April 2024.

  22. Slide 22: Medical practice guidelines recommend exome and genome sequencing for patients

    Medical practice guidelines recommend exome and genome sequencing for patients ACMG Practice Guideline1: “Strong recommendation based on the available evidence to support the use of ES/GS as either a first- (or second-) line test in patients …. ES/ GS demonstrates clinical utility for the patients a

  23. Slide 23: Pay-it-forward data strategy

    Additional Additional More answ ers patients patients for patients tested providers tested Pay-it-forward mproved igher interpretation data strategy diagnostic yield platform fewer S For every patient that we test, our More underlying interpretation platform answ ers for patients gets smarter, and w

  24. Slide 24: Data is at the center of our business

    Data is at the center of our business Our huge dataset and intelligent interpretation platform set us apart and fuel innovation Advanced interpretation platform Simplifies complex genomic data >500K sequenced exomes Significant clinical and Reduces variants of genomic data unknown significance Fuels

  25. Slide 25: 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% are tested on many commercial epilepsy panels 25 Butler L. et al. Exome-based testing for patients with seizures: Advantages over panel-based testi

  26. Slide 26: 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% are tested on many commercial epilepsy panels Exome sequencing checks all 768 genes 26 Butler L. et al. Exome-based testing for patients with seizu

  27. Slide 27: Today, we shorten the diagnostic journey. Tomorrow, we hope to prevent it.

    Today, we shorten the diagnostic journey. Tomorrow, we hope to prevent it.

  28. Slide 28: Building the future: NICU

    Building the future: NICU Shorter hospital stays. Less uncertainty. Better care. In phase one of the SeqFirst study, 125 infants were offered rapid WGS: 63% of infants had abnormal rapid WGS results, and 88% of these cases resulted in a change in management 1 in 4 infants with abnormal results were

  29. Slide 29: Building the future: Newborn screening

    Building the future: Newborn screening Fast diagnosis. Clear next steps. Reduced healthcare costs. Screened 5,000 healthy infants, toward goal of >100,000​ 4.3% positive rate​ Average age of diagnosis for these conditions is 7-11 years old​ 29

  30. Slide 30: Building the future: Partnerships

    Building the future: Partnerships Enriched data. Empowered drug discovery. mproved outcomes.​ GeneDx offers solutions across the pharma drug development pipeline​ Find Connect Understand 30

  31. Slide 31: Building the future: Interpretation as a service

    GeneDx lab Gaithersburg, MD Building the future: Interpretation as a service Scientific rigor. Medical value. Establishing genomics as the standard of care for all. 31

GeneDx Holdings — Q1 2024 Earnings Presentation on 6ix