Genedx Holdings Corp. · NASDAQ:WGS
Genedx — Q4 2023 Earnings Presentation
21 slides from Genedx's earnings presentation, Feb 20, 2024
Slide 1: 4Q 2023 Earnings Presentation
One test. Big picture. Brighter futures. GeneDx (Nasdaq: WGS) 4Q 2023 Earnings Presentation February 20, 2024
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
Slide 3: WGS 4Q 2023 Results
WGS 4Q 2023 Results 1 Fourth quarter 2023 revenue from continuing operations of $58M with 68% year-over-year revenue growth for exome and genome test revenue Reduced cash burn 51% year-over-year and 22% sequential Ending December 31, 2023 cash, cash equivalents, marketable securities and restricted
Slide 4: Revenue - strong growth driven by high value whole exome and genome
Revenue - strong growth driven by high value whole exome and genome Revenue 1 Q4 2023 Increase in 4Q23 exome/genome Revenue from continuing operations $58M 99% test result volume year-over-year; Growth year-over-year 27% +19% sequentially Growth sequentially 15% Exome and genome test revenue $39M Fu
Slide 5: 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. Volume Mix 4Q22 1Q23 2Q23 3Q23 4Q23 Exome/genome test result volume Exome/ 16% 17% 22% 23% 27% 27% mix in 4Q23, up from 16% in the Genome 4Q
Slide 6: Cash - Balance sheet bolstered to execute growth strategy
Cash - Balance sheet bolstered to execute growth strategy 1 Consecutive quarters of cash burn 7 reduction since acquiring GeneDx Net use of cash Q4 2023 Total company $33M Continuing operations $24M Improvement in total company net 51% cash burn rate year-over-year; 1 Total Company use of cash in th
Slide 7: 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
Slide 8: 2024 Guidance
2024 Guidance Drive full year 2024 revenues between $220 to $230 million Expand full year 2024 adjusted gross margin profile to at least 50% Use $75 to $80 million of net cash for full year 2024 Turn profitable in 2025 8
Slide 9: One test. Big picture. Brighter futures.
One test. Big picture. Brighter futures. 9
Slide 10: Thank you
Thank you Genek
Slide 11: Appendix
Appendix Genek
Slide 12: Lack of genomic data can lead to a cycle of misdiagnosis and suboptimal care
Lack of genomic data can lead to a cycle of misdiagnosis and suboptimal care Patient Missed diagnoses impact everyone presents with Tests are More symptoms ordered spending Patients/Caregivers • Inappropriate treatments and delayed care • Suffering Try new Suboptimal doctors Healthcare systems care
Slide 13: Genomic information is the most foundational health data source
Genomic information is the most foundational health data source Each person's unique genetic code influences their health – and fundamentally informs how we use other data tools. 13
Slide 14: Exome and genome testing unlock the most comprehensive genomic data
Exome and genome testing unlock the most comprehensive genomic data As a leader in exome and genome testing, GeneDx leverages the power of this data to: o inform personalized health plans o accelerate drug discovery o improve efficiencies for health systems o enable healthier populations 14
Slide 15: GeneDx is positioned to enable a data-informed future for healthcare
GeneDx is positioned to enable a data-informed future for healthcare.
Slide 16: Leading exome and genome products
Leading exome and genome products Translating complex genomic data into definitive diagnoses for patients o For more than 20 years, our advanced genomic technologies and unparalleled data have helped diagnose the hardest cases. o Now we’re helping patients with more common conditions harness the pow
Slide 17: 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 17 Butler L. et al. Exome-based testing for patients with seizures: Advantages over panel-based testi
Slide 18: 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 18 Butler L. et al. Exome-based testing for patients with seizu
Slide 19: 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
Slide 20: Pay-it-forward data strategy
dditional dditional 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 we
Slide 21: Snowball effect of our ever-growing dataset
Snowball effect of our ever-growing dataset Accumulated GeneDx data offers more findings and drives forward scientific discoveries Lab A GeneDx