GeneDx Q3 2026 loss widens to $12.3M as revenue rises
Full-year revenue guidance stays at $475 million to $490 million, while minimum exome and genome growth guidance was lowered.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
GeneDx Holdings Corp. (WGS) reported third-quarter 2026 revenue of $123.1 million, up 5% year over year. Exome and genome revenue was $110.4 million, up 12%, while test-result volume reached 32,134, up 25%; accession growth was 28%. Adjusted gross margin was 72%, versus 74% a year earlier and 70% in the second quarter.
Adjusted net income, a non-GAAP measure, was $8.6 million, compared with $16.1 million in third-quarter 2025; GAAP net loss was $12.3 million versus $7.6 million. Cash, cash equivalents, marketable securities and restricted cash totaled $171.1 million as of September 30, 2026.
WGS reiterated 2026 revenue guidance of $475 million to $490 million. Updated full-year guidance includes at least 28% exome and genome volume growth, at least 17% exome and genome revenue growth, approximately 71% adjusted gross margin and approximately $12 million adjusted net income. Fourth-quarter guidance is $135 million revenue, 34,500 tests, $121 million exome and genome revenue, at least 71% adjusted gross margin and approximately $12 million adjusted net income.
2 points · 0 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointRevenue was $123.1 million, up 5% year over year.
- Moderate pointExome and genome test-result volume reached 32,134, up 25% year over year.
Negative
- Moderate pointGAAP net loss was $12.3 million versus $7.6 million in third-quarter 2025.
- Moderate pointAdjusted net income was $8.6 million versus $16.1 million in third-quarter 2025.
Filing Explained
GeneDx lowered 2026 growth floors and reported long-term debt of $146,229 thousand, while keeping full-year revenue guidance unchanged.
This Form 8-K reports GeneDx's third-quarter results and updated 2026 guidance; the full-year revenue range is unchanged, but minimum growth guidance is lower, and reported long-term debt was higher at quarter-end than at 2025 year-end.
The guidance table keeps full-year revenue at
At
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $123.1 million
Exome and genome revenue: $110.4 million
Exome and genome test-result volume: 32,134 tests
+5 more
8 metrics
Revenue
$123.1 million
Third quarter 2026; up 5% year over year
Exome and genome revenue
$110.4 million
Third quarter 2026; up 12% year over year
Exome and genome test-result volume
32,134 tests
Third quarter 2026; up 25% year over year
Adjusted gross margin
72%
Third quarter 2026; 74% in third-quarter 2025 and 70% in second-quarter 2026
Adjusted net income
$8.6 million
Third quarter 2026; $16.1 million in third-quarter 2025
GAAP net loss
($12.3 million)
Third quarter 2026; ($7.6 million) in third-quarter 2025
Cash, cash equivalents, marketable securities and restricted cash
$171.1 million
As of September 30, 2026
Full-year 2026 revenue guidance
$475 million to $490 million
Reiterated full-year guidance
Key Terms
adjusted gross margin, accession growth, non-GAAP financial measures, whole genome sequencing
4 terms
adjusted gross margin financial
"Adjusted gross margin of 72% in the third quarter of 2026"
Adjusted gross margin is a measure of how much profit a company makes from its sales after accounting for certain expenses or one-time costs, but before deducting other operating expenses. It helps investors see the company's core profitability more clearly by removing factors that might distort the usual profit picture, similar to a runner measuring their speed without considering obstacles or weather. This metric provides a clearer view of the company's ongoing financial health.
accession growth technical
"with accession growth of 28% year-over-year"
non-GAAP financial measures financial
"Adjusted gross margin and adjusted net income are non-GAAP financial measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
whole genome sequencing technical
"Expanded the number of state Medicaid programs covering whole genome sequencing to 25"
Whole genome sequencing is a laboratory method that reads an individual’s complete DNA instruction book, capturing all genetic letters rather than just selected parts. For investors, it matters because it can reveal new ways to diagnose, prevent or treat disease and to develop tests or drugs — like upgrading from a map of a few streets to a full city blueprint — which can create commercial opportunities, influence regulatory pathways and change healthcare costs and demand.
Earnings Snapshot
Revenue: $123.1 million · Guidance included
Three months ended September 30, 2026
Revenue
$123.1 million
Up 5% year over year
Exome and genome revenue
$110.4 million
Up 12% year over year
Exome and genome test-result volume
32,134 tests
Up 25% year over year
Adjusted gross margin
72%
74% in third-quarter 2025 and 70% in second-quarter 2026
Adjusted net income
$8.6 million
$16.1 million in third-quarter 2025
GAAP net loss
($12.3 million)
($7.6 million) in third-quarter 2025
Guidance
Full-year 2026 revenue of $475 million to $490 million; at least 28% exome and genome volume growth; at least 17% exome and genome revenue growth; approximately 71% adjusted gross margin; approximately $12 million adjusted net income. Fourth-quarter 2026 guidance: $135 million revenue, 34,500 tests, $121 million exome and genome revenue, at least 71% adjusted gross margin and approximately $12 million adjusted net income.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were WGS's Q3 2026 revenue and exome and genome results?
Revenue was $123.1 million, up 5% year over year. Exome and genome revenue was $110.4 million, up 12%, and test-result volume was 32,134, up 25%; accession growth was 28%.
What did WGS guide for the fourth quarter of 2026?
Fourth-quarter guidance includes $135 million in revenue, 34,500 exome and genome tests, $121 million in exome and genome revenue, at least 71% adjusted gross margin and approximately $12 million adjusted net income.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 9, 2026
Commission file number 001-39482
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
| (Address of Principal Executive Offices) (Zip Code) | |||||
Registrant's telephone number, including area code: (888 ) 729-1206
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 9, 2026 , GeneDx Holdings Corp. (the “Company”) issued a press release (the “Press Release”) and will hold a conference call announcing the Company's financial results for the quarter ended September 30, 2026. Copies of the Press Release and Earnings Presentation are furnished as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.
The information furnished with this Item 2.02, including Exhibits 99.1 and 99.2 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No | Description | ||||
99.1 | Press Release, dated November 9, 2026, regarding the registrant’s results for the quarter ended September 30, 2026 | ||||
99.2 | Earnings Presentation, dated November 9, 2026 | ||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GENEDX HOLDINGS CORP. | |||||||||||
| Date: | By: | /s/ Katherine Stueland | |||||||||
| Name: | Katherine Stueland | ||||||||||
| Title: | Chief Executive Officer | ||||||||||
Exhibit 99.1
GeneDx Reports Third Quarter 2026 Financial Results
•Reported third quarter 2026 revenue of $123.1 million, including $110.4 million in exome and genome revenue
•Reported exome and genome volume growth of 25% year-over-year with accession growth of 28% year-over-year
•Expanded adjusted gross margin(1) to 72% and adjusted net income(1) to $8.6 million
•Reiterating full year 2026 revenue guidance of $475 to $490 million
•Hosting conference call today at 4:30 p.m. ET
GAITHERSBURG, Md., November 9, 2026 — GeneDx Holdings Corp. (Nasdaq: WGS), the leader in rare disease diagnosis and improving health through the power of genomic data, today reported its financial results for the third quarter of 2026.
“Our Q3 results reflect profitable execution in a growing market, as we translate the rising demand for exome and genome testing into durable revenue growth,” said Katherine Stueland, CEO of GeneDx. “Our priorities are clear: improve the economics of our testing, expand utilization, and deliver leading products at scale. By uniting these priorities with our clinical expertise and differentiated exome and genome capabilities, we are bringing life-changing answers to more families.”
Third Quarter 2026 Financial Results (Unaudited)(1)
Revenue
•Revenue grew to $123.1 million, an increase of 5% year-over-year.
•Exome and genome test revenue grew to $110.4 million, an increase of 12% year-over-year.
Exome and genome volume
•Exome and genome test result volume grew to 32,134, an increase of 25% year-over-year, with accession growth of 28% year-over-year.
Gross margin
•Adjusted gross margin of 72% in the third quarter of 2026 is up from 70% in the second quarter of 2026 and compares to 74% in the third quarter of 2025.
◦GAAP gross margin was 70%.
Operating expenses
•Adjusted total operating expenses were $79.4 million, representing 65% of revenue.
◦Total GAAP operating expenses were $96.5 million.
Net income
•Adjusted net income was $8.6 million, up $8.2 million from the second quarter of 2026 and compared to adjusted net income of $16.1 million in the third quarter of 2025.
◦GAAP net loss was $12.3 million.
Cash position
•Cash, cash equivalents, marketable securities and restricted cash was $171.1 million as of September 30, 2026.
(1)Adjusted gross margin, adjusted total operating expenses and adjusted net income are non-GAAP financial measures. See appendix for a reconciliation of GAAP to non-GAAP figures presented.
GeneDx 2026 Guidance
GeneDx has updated its 2026 guidance and has provided guidance for the fourth quarter of 2026. Management expects GeneDx to deliver:
| Metric | Full Year 2026 Previous Guidance | Full Year 2026 Updated Guidance | Fourth Quarter 2026 Guidance | |||||||||||||||||
| Revenue | $475 to $490 million | $475 to $490 million | $135 million | |||||||||||||||||
| Exome and genome volume | At least 30% growth | At least 28% growth | 34,500 tests | |||||||||||||||||
| Exome and genome revenue | At least 20% growth | At least 17% growth | $121 million | |||||||||||||||||
| Adjusted gross margin | Approximately 70% | Approximately 71% | At least 71% | |||||||||||||||||
| Adjusted net income | Positive | Approximately $12 million | Approximately $12 million | |||||||||||||||||
Third Quarter 2026 and Recent Business Highlights
Strategic Expansion and Market Leadership
•Announced genome testing portfolio enhancement with long-read whole genome sequencing, reflecting GeneDx's continued focus on genome innovation to expand diagnostic capabilities and deliver more answers to more patients.
•Launched additional customer experience features, including simplified test reports, easy ordering, and report guides to simplify genomic testing from ordering through understanding and communicating results.
•Launched a new online offering designed to expand accessibility of exome testing for pediatric patients with global developmental delay (GDD), intellectual disability (ID) or epilepsy by enabling families to initiate genetic testing online and connect with licensed healthcare providers who can review medical information, order testing, and deliver results without requiring traditional in-person visits.
•Collaborated with Mirum Pharmaceuticals to launch a sponsored testing program, providing no-cost exome testing for eligible patients with unexplained cholestasis, early onset cataracts, or suspected or confirmed peroxisome biogenesis disorder–Zellweger spectrum disorder (PBD-ZSD).
•Partnered with Beren Therapeutics P.B.C. to launch the NPC GenomeComplete Sponsored Testing Program, providing no-cost comprehensive genome sequencing for eligible pediatric patients with clinical findings, family history, or biomarker evidence suggestive of Niemann-Pick Disease Type C (NPC).
Expanded Coverage for Exome and Genome
•Expanded the number of state Medicaid programs covering whole genome sequencing to 25 with the addition of Arkansas and Utah Medicaid.
•Appointed Nicole Maassen, J.D. as Chief Patient Access Officer to lead Market Access and Government Affairs with a focus on advancing payer partnerships, building upon government relations efforts, and translating positive coverage policies into timely access for children who need testing.
Innovation and Clinical Leadership
•Published new data in collaboration with the clinical genetics team at Seattle Children’s demonstrating that implementing first-tier rapid genome sequencing (rGS) broadly across inpatient pediatric care units improves diagnostic rates, patient outcomes, and operational efficiency within health systems.
•Presented 27 scientific abstracts at the American Society of Human Genetics (ASHG) 2026 Annual Meeting, highlighting how exome and genome sequencing are advancing scientific discovery, earlier diagnosis and more precise care. GeneDx research highlighted:
◦Scaling genomic interpretation with AI and machine learning: A GeneDx-led platform presentation explores machine learning to prioritize relevant copy number variants (CNVs), reflecting the company’s human-first, human-last approach to leveraging AI decision support tools in exome and genome sequencing analysis.
◦Advancing exome and genome sequencing as standard of care: Research from more than 100,000 individuals with autism examines factors influencing molecular diagnostic yield, adding evidence to support broad genomic testing for complex neurodevelopmental conditions.
◦Translating clinical data into actionable insights: Studies explore genotype-first reanalysis, emerging genotype-phenotype associations, rare variant detection and the health-economic value of first-line exome and genome sequencing.
◦Accelerating gene discovery: Nine abstracts using GeneDx Infinity™, GeneMatcher and global research collaborations to identify novel disease-associated genes and expand understanding of developmental and neurodevelopmental disorders.
•Demonstrated progress toward making genomic newborn screening a scalable and accessible part of proactive healthcare at the International Consortium on Newborn Sequencing (ICoNS) conference, including new findings from the GUARDIAN study, which has enrolled 30,000 newborns with a 72.3% parental participation rate, demonstrating the feasibility and clinical value of genomic newborn screening across diverse populations.
•Partnered with the BRIDGES-NBS initiative to begin enrollment in Oregon as part of the nation's first coordinated, multi-state genomic newborn screening study. GeneDx serves as the integrated laboratory partner, providing genome sequencing and interpretation to screen up to 30,000 newborns for more than 700 actionable genetic conditions over two years.
Webcast and Conference Call Details
GeneDx will host a conference call today, November 9, 2026, at 4:30 p.m. Eastern Time. Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event will be available on the “Events” section of the GeneDx investor relations website at https://ir.genedx.com/.
Non-GAAP Financial Measures
GeneDx believes non-GAAP measures are useful in evaluating its operating performance. GeneDx uses this supplemental information to evaluate its ongoing operations and for internal planning and forecasting purposes. GeneDx believes that non-GAAP financial information, when taken collectively with its GAAP financial information, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. We define non-GAAP financial measures as GAAP measures, excluding certain items such as stock-based compensation expense, depreciation and amortization, restructuring costs, changes in the fair value of financial liabilities, non-core lease costs, and other expenses that the Company believes are not indicative of its ongoing operations. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future performance and our market opportunity, including our expectations for full year and fourth quarter 2026 revenue, exome and genome revenue and test volumes, adjusted gross margin and adjusted net income. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to implement business plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, (iv) future expansion of insurance coverage for exome and genome testing, and (v) the anticipated impacts of regulatory reimbursement changes. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year
ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, filed with the SEC on May 4, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026, filed with the SEC on August 3, 2026, our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2026, filed with the SEC on November 9, 2026, and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.
About GeneDx
GeneDx’s (Nasdaq: WGS) mission is to empower everyone to live their healthiest life through genomics. GeneDx combines unmatched clinical expertise, advanced technology, and the power of GeneDx Infinity™ – the world’s largest rare disease genomic dataset. This unparalleled foundation powers GeneDx’s ExomeDx™ and GenomeDx™ tests – ranked #1 by expert geneticists and granted FDA Breakthrough Device designation – enabling clinicians to deliver precise, fast, and actionable diagnoses. GeneDx Infinity also fuels discovery for biopharma, with the most powerful AI-driven genomic intelligence. A genomics pioneer over the last 25 years, diagnosing more than 4,800 genetic diseases and publishing more than 1,100 research publications, GeneDx is building the network that will drive the future of genomic precision medicine. For more information, visit genedx.com and connect with us on LinkedIn, Facebook, and Instagram.
Investor Relations Contact:
Investors@GeneDx.com
Media Contact:
Press@GeneDx.com
Volume & Revenue
| 3Q26 | 2Q26 | 1Q26 | 4Q25 | 3Q25 | |||||||||||||||||||||||||
| Volumes | |||||||||||||||||||||||||||||
| Whole exome, whole genome | 32,134 | 30,785 | 27,488 | 27,761 | 25,702 | ||||||||||||||||||||||||
| Other panels | 26,524 | 32,057 | 27,729 | 31,281 | 34,514 | ||||||||||||||||||||||||
| Total | 58,658 | 62,842 | 55,217 | 59,042 | 60,216 | ||||||||||||||||||||||||
| Revenue ($ millions) | |||||||||||||||||||||||||||||
| Whole exome, whole genome | $ | 110.4 | $ | 100.3 | $ | 90.6 | $ | 104.0 | $ | 98.9 | |||||||||||||||||||
| Other panels | 9.7 | 11.6 | 10.7 | 13.3 | 14.6 | ||||||||||||||||||||||||
| Data information | 2.8 | 2.3 | 0.8 | 2.6 | 1.5 | ||||||||||||||||||||||||
Software and interpretation services | 0.2 | 0.2 | 0.2 | 1.1 | 1.7 | ||||||||||||||||||||||||
| Total | $ | 123.1 | $ | 114.4 | $ | 102.3 | $ | 121.0 | $ | 116.7 | |||||||||||||||||||
Unaudited Select Financial Information
| Three months ended September 30, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Reported | Depreciation and amortization | Stock-based compensation | Restructuring costs | Change in FV of financial liabilities | Other(2) | Adjusted | |||||||||||||||||||||||||||||||||||
| Diagnostic test revenue | $ | 120,059 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 120,059 | |||||||||||||||||||||||||||
| Other revenue | 3,042 | — | — | — | — | — | 3,042 | ||||||||||||||||||||||||||||||||||
| Total revenue | 123,101 | — | — | — | — | — | 123,101 | ||||||||||||||||||||||||||||||||||
| Cost of services | 37,041 | (1,687) | (371) | (18) | — | — | 34,965 | ||||||||||||||||||||||||||||||||||
Gross profit | 86,060 | 1,687 | 371 | 18 | — | — | 88,136 | ||||||||||||||||||||||||||||||||||
| Gross margin | 69.9 | % | 71.6 | % | |||||||||||||||||||||||||||||||||||||
| Research and development | 17,366 | (430) | (1,549) | 51 | — | — | 15,438 | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative | 79,122 | (4,778) | (6,333) | (900) | — | (3,118) | 63,993 | ||||||||||||||||||||||||||||||||||
(Loss) income from operations | (10,428) | 6,895 | 8,253 | 867 | — | 3,118 | 8,705 | ||||||||||||||||||||||||||||||||||
Interest expense, net | (1,779) | — | — | — | — | 1,779 | — | ||||||||||||||||||||||||||||||||||
| Other income (expense), net | (94) | — | — | — | — | — | (94) | ||||||||||||||||||||||||||||||||||
| Income tax expense | (26) | — | — | — | — | 26 | — | ||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (12,327) | $ | 6,895 | $ | 8,253 | $ | 867 | $ | — | $ | 4,923 | $ | 8,611 | |||||||||||||||||||||||||||
Basic (loss) earnings per share(1) | $ | (0.41) | $ | 0.29 | |||||||||||||||||||||||||||||||||||||
Diluted (loss) earnings per share(1) | $ | (0.41) | $ | 0.28 | |||||||||||||||||||||||||||||||||||||
| Three months ended September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Reported | Depreciation and amortization | Stock-based compensation | Restructuring costs | Change in FV of financial liabilities | Other(2) | Adjusted | |||||||||||||||||||||||||||||||||||
| Diagnostic test revenue | $ | 113,523 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 113,523 | |||||||||||||||||||||||||||
| Other revenue | 3,220 | — | — | — | — | — | 3,220 | ||||||||||||||||||||||||||||||||||
| Total revenue | 116,743 | — | — | — | — | — | 116,743 | ||||||||||||||||||||||||||||||||||
| Cost of services | 32,216 | (1,374) | (219) | — | — | — | 30,623 | ||||||||||||||||||||||||||||||||||
Gross profit | 84,527 | 1,374 | 219 | — | — | — | 86,120 | ||||||||||||||||||||||||||||||||||
| Gross margin | 72.4 | % | 73.8 | % | |||||||||||||||||||||||||||||||||||||
| Research and development | 19,829 | (242) | (1,749) | 196 | — | — | 18,034 | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative | 67,949 | (4,858) | (8,618) | (324) | — | (2,297) | 51,852 | ||||||||||||||||||||||||||||||||||
| (Loss) income from operations | (3,251) | 6,474 | 10,586 | 128 | — | 2,297 | 16,234 | ||||||||||||||||||||||||||||||||||
Interest expense, net | (562) | — | — | — | — | 562 | — | ||||||||||||||||||||||||||||||||||
| Other income (expense), net | (3,575) | — | — | — | 3,401 | (2) | (176) | ||||||||||||||||||||||||||||||||||
| Income tax expense | (247) | — | — | — | — | 247 | — | ||||||||||||||||||||||||||||||||||
| Net (loss) income | $ | (7,635) | $ | 6,474 | $ | 10,586 | $ | 128 | $ | 3,401 | $ | 3,104 | $ | 16,058 | |||||||||||||||||||||||||||
Basic (loss) earnings per share(1) | $ | (0.27) | $ | 0.56 | |||||||||||||||||||||||||||||||||||||
Diluted (loss) earnings per share(1) | $ | (0.27) | $ | 0.53 | |||||||||||||||||||||||||||||||||||||
(1)Basic and diluted reported loss per share and Basic adjusted earnings per share are calculated based on 29,880,144 weighted average shares outstanding and Diluted adjusted earnings per share is calculated based on 30,756,054 weighted average shares outstanding for the three months ended September 30, 2026. Basic and diluted reported loss per share and Basic adjusted earnings per share are calculated based on 28,797,730 weighted average shares outstanding and Diluted adjusted earnings per share is calculated based on 30,152,510 weighted average shares outstanding for the three months ended September 30, 2025.
(2)Other represents interest expense, net, income tax expense, non-core lease costs, and costs related to legal reserves for all periods presented. For the three months ended September 30, 2026, Other also includes third party advisor fees related to our Revenue Cycle Transformation. For the three months ended September 30, 2025, Other also includes transaction costs incurred in connection with the acquisition of Fabric Genomics.
Unaudited Select Financial Information
| Three months ended June 30, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Reported | Depreciation and amortization | Stock-based compensation | Restructuring costs | Change in FV of financial liabilities | Other(2) | Adjusted | |||||||||||||||||||||||||||||||||||
| Diagnostic test revenue | $ | 111,886 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 111,886 | |||||||||||||||||||||||||||
| Other revenue | 2,554 | — | — | — | — | — | 2,554 | ||||||||||||||||||||||||||||||||||
| Total revenue | 114,440 | — | — | — | — | — | 114,440 | ||||||||||||||||||||||||||||||||||
| Cost of services | 36,202 | (1,726) | (561) | (47) | — | — | 33,868 | ||||||||||||||||||||||||||||||||||
| Gross profit | 78,238 | 1,726 | 561 | 47 | — | — | 80,572 | ||||||||||||||||||||||||||||||||||
| Gross margin | 68.4 | % | 70.4 | % | |||||||||||||||||||||||||||||||||||||
| Research and development | 19,656 | (271) | (1,387) | (1,036) | — | — | 16,962 | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative | 76,037 | (4,717) | (4,394) | (2,212) | — | (1,353) | 63,361 | ||||||||||||||||||||||||||||||||||
| Impairment loss | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| (Loss) income from operations | (17,455) | 6,714 | 6,342 | 3,295 | — | 1,353 | 249 | ||||||||||||||||||||||||||||||||||
| Interest expense, net | (1,185) | — | — | — | — | 1,185 | — | ||||||||||||||||||||||||||||||||||
| Other (expense) income, net | 382 | — | — | — | (220) | — | 162 | ||||||||||||||||||||||||||||||||||
| Income tax benefit | 518 | — | — | — | — | (518) | — | ||||||||||||||||||||||||||||||||||
| Net (loss) income | $ | (17,740) | $ | 6,714 | $ | 6,342 | $ | 3,295 | $ | (220) | $ | 2,020 | $ | 411 | |||||||||||||||||||||||||||
Basic (loss) earnings per share(1) | $ | (0.60) | $ | 0.01 | |||||||||||||||||||||||||||||||||||||
Diluted (loss) earnings per share(1) | $ | (0.60) | $ | 0.01 | |||||||||||||||||||||||||||||||||||||
(1)Basic and diluted reported loss per share and Basic adjusted earnings per share are calculated based on 29,710,139 weighted average shares outstanding and Diluted adjusted earnings per share is calculated based on 30,144,132 weighted average shares outstanding for the three months ended June 30, 2026.
(2)For the three months ended June 30, 2026, Other represents interest expense, net, income tax benefit, non-core lease costs, and costs related to legal reserves.
GeneDx Holdings Corp.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| September 30, 2026 (Unaudited) | December 31, 2025 | ||||||||||
| Assets: | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 96,139 | $ | 104,997 | |||||||
| Marketable securities | 73,979 | 66,285 | |||||||||
| Accounts receivable | 92,131 | 74,370 | |||||||||
| Inventory, net | 21,703 | 13,951 | |||||||||
| Prepaid expenses and other current assets | 12,943 | 8,685 | |||||||||
| Total current assets | 296,895 | 268,288 | |||||||||
| Operating lease right-of-use assets | 32,404 | 23,412 | |||||||||
| Property and equipment, net | 53,531 | 45,693 | |||||||||
| Goodwill | 1,641 | 13,520 | |||||||||
| Intangible assets, net | 137,732 | 168,481 | |||||||||
Other assets(1) | 4,281 | 4,316 | |||||||||
| Total assets | $ | 526,484 | $ | 523,710 | |||||||
| Liabilities and Stockholders’ Equity: | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable and accrued expenses | $ | 32,426 | $ | 57,645 | |||||||
| Short-term lease liabilities | 5,823 | 4,404 | |||||||||
| Other current liabilities | 33,154 | 46,859 | |||||||||
| Total current liabilities | 71,403 | 108,908 | |||||||||
| Long-term debt, net of current portion | 146,229 | 48,176 | |||||||||
| Long-term lease liabilities | 63,332 | 56,046 | |||||||||
| Other liabilities | 71 | 1,641 | |||||||||
| Deferred taxes | 760 | 757 | |||||||||
| Total liabilities | 281,795 | 215,528 | |||||||||
| Stockholders’ Equity: | |||||||||||
| Preferred stock | — | — | |||||||||
| Class A common stock | 3 | 3 | |||||||||
| Additional paid-in capital | 1,711,675 | 1,680,738 | |||||||||
| Accumulated deficit | (1,466,878) | (1,373,495) | |||||||||
| Accumulated other comprehensive (loss) income | (111) | 936 | |||||||||
| Total stockholders’ equity | 244,689 | 308,182 | |||||||||
| Total liabilities and stockholders’ equity | $ | 526,484 | $ | 523,710 | |||||||
(1)Other assets includes $1.0 million of restricted cash as of both September 30, 2026 and December 31, 2025.
GeneDx Holdings Corp.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenue | |||||||||||||||||||||||
| Diagnostic test revenue | $ | 120,059 | $ | 113,523 | $ | 333,244 | $ | 299,382 | |||||||||||||||
| Other revenue | 3,042 | 3,220 | 6,551 | 7,168 | |||||||||||||||||||
| Total revenue | 123,101 | 116,743 | 339,795 | 306,550 | |||||||||||||||||||
| Cost of services | 37,041 | 32,216 | 107,286 | 92,645 | |||||||||||||||||||
| Gross profit | 86,060 | 84,527 | 232,509 | 213,905 | |||||||||||||||||||
| Research and development | 17,366 | 19,829 | 56,826 | 47,485 | |||||||||||||||||||
| Selling, general and administrative | 79,122 | 67,949 | 229,750 | 165,262 | |||||||||||||||||||
| Impairment loss | — | — | 31,287 | — | |||||||||||||||||||
| (Loss) income from operations | (10,428) | (3,251) | (85,354) | 1,158 | |||||||||||||||||||
| Non-operating expense, net | |||||||||||||||||||||||
| Change in fair value of financial liabilities | — | (3,401) | 2,760 | (2,320) | |||||||||||||||||||
| Interest expense, net | (1,779) | (562) | (3,681) | (2,019) | |||||||||||||||||||
| Loss on extinguishment of debt | — | — | (6,565) | — | |||||||||||||||||||
| Other (expense) income, net | (94) | (174) | (138) | 274 | |||||||||||||||||||
| Total non-operating expense, net | (1,873) | (4,137) | (7,624) | (4,065) | |||||||||||||||||||
| Loss before income taxes | (12,301) | (7,388) | (92,978) | (2,907) | |||||||||||||||||||
| Income tax expense | (26) | (247) | (405) | (448) | |||||||||||||||||||
| Net loss | $ | (12,327) | $ | (7,635) | $ | (93,383) | $ | (3,355) | |||||||||||||||
| Weighted-average shares outstanding of Class A common stock - Basic and Diluted | 29,880,144 | 28,797,730 | 29,643,799 | 28,505,657 | |||||||||||||||||||
| Loss per share, Class A common stock - Basic and Diluted | $ | (0.41) | $ | (0.27) | $ | (3.15) | $ | (0.12) | |||||||||||||||
GeneDx Holdings Corp.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Nine months ended September 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Operating activities | |||||||||||
| Net loss | $ | (93,383) | $ | (3,355) | |||||||
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||||||||||
| Depreciation and amortization expense | 20,418 | 18,343 | |||||||||
| Stock-based compensation expense | 23,591 | 22,382 | |||||||||
| Change in fair value of financial liabilities | (2,760) | 2,320 | |||||||||
| Deferred tax expense | 405 | 448 | |||||||||
| Legal reserves | — | 810 | |||||||||
| Change in third party payor reserves | (1,370) | 8,746 | |||||||||
| Loss on extinguishment of debt | 6,565 | — | |||||||||
| Impairment loss | 31,287 | — | |||||||||
| Other | 3,611 | 2,534 | |||||||||
Change in operating assets and liabilities: | |||||||||||
| Accounts receivable | (17,982) | (22,799) | |||||||||
| Inventory | (7,823) | (72) | |||||||||
| Accounts payable and accrued expenses | (19,308) | 5,185 | |||||||||
| Other assets and liabilities | (15,239) | 1,827 | |||||||||
| Net cash (used in) provided by operating activities | (71,988) | 36,369 | |||||||||
| Investing activities | |||||||||||
| Acquisition of business, net of cash acquired | — | (33,195) | |||||||||
| Purchases of marketable securities | (40,859) | (36,535) | |||||||||
| Proceeds from sales of marketable securities | 3,172 | — | |||||||||
| Proceeds from maturities of marketable securities | 29,175 | 33,955 | |||||||||
Purchases of property and equipment and development of internal-use software | (21,791) | (14,670) | |||||||||
| Net cash used in investing activities | (30,303) | (50,445) | |||||||||
| Financing activities | |||||||||||
| Proceeds from long term debt, net of issuance costs | 146,027 | — | |||||||||
| Proceeds from offerings, net of issuance costs | — | 25,568 | |||||||||
| Proceeds from issuance of common stock from securities purchase agreement | 5,000 | — | |||||||||
| Proceeds from issuance of common stock from subscription agreements | 476 | — | |||||||||
| Proceeds from issuance of common stock pursuant to employee stock purchase plan | 1,793 | 1,262 | |||||||||
| Exercise of stock options | 58 | 982 | |||||||||
| Repayment of long-term debt, including prepayment penalty - Perceptive | (54,000) | — | |||||||||
| Repayment and principal payments for long-term debt - DECD | (4,447) | (906) | |||||||||
| Finance lease principal payments | (1,473) | (2,074) | |||||||||
| Net cash provided by financing activities | 93,434 | 24,832 | |||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (8,857) | 10,756 | |||||||||
| Cash, cash equivalents and restricted cash, at beginning of period | 105,989 | 86,202 | |||||||||
Cash, cash equivalents and restricted cash, at end of period (1) | $ | 97,132 | $ | 96,958 | |||||||
| Supplemental disclosures of cash flow information | |||||||||||
| Cash paid for interest | $ | 6,678 | $ | 4,835 | |||||||
| Cash paid for taxes | $ | 2,394 | $ | 1,039 | |||||||
| Purchases of property and equipment in accounts payable and accrued expenses | $ | 1,610 | $ | 4,472 | |||||||
| Lease liability from obtaining right-of-use asset | $ | 12,086 | $ | — | |||||||
(1)Cash, cash equivalents and restricted cash as of September 30, 2026 excludes marketable securities of $74.0 million.
GeneDx Nasdaq: WGS Q3 2026 Earnings Presentation November 2026 Exhibit 99.2
2 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future performance and our market opportunity, including expectations for full year and fourth quarter 2026 revenue, exome and genome revenue and test volumes, adjusted gross margin and adjusted net income. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: (i) our ability to implement business plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, (iv) future expansion of insurance coverage for exome and genome testing, and (v) the anticipated impacts of regulatory reimbursement changes. The foregoing list of factors is not exhaustive. The information, opinions and forward- looking statements contained in this announcement is not exhaustive and speak only as of its date and are subject to change without notice. This presentation contains estimates, projections and other information concerning our industry, our business and the markets for our products and services. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. Unless otherwise expressly stated, we obtained this industry, business, market and other data from our own internal estimates and research as well as from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry, medical and general publications, government data and similar sources. While we believe our internal company research as to such matters is reliable and the market definitions are appropriate, neither such research nor these definitions have been verified by any independent source. We discuss these and other risks and uncertainties in greater detail in the sections entitled “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our periodic reports and other filings we make with the SEC from time to time. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations. We file reports, proxy statements, and other information with the SEC. Such reports, proxy statements, and other information concerning us are available www.sec.gov. Requests for copies of such documents should be directed to our Investor Relations department at GeneDx Holdings Corp. 333 Ludlow Street, North Tower 6th Floor, Stamford, Connecticut, 06902. Our telephone number is 888-729-1206. Non-GAAP Financial Measures This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles in the United States ("GAAP"), which are used by management as a supplemental measure, have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP. The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. A reconciliation is provided in the Appendix to the most directly comparable financial measure stated in accordance with GAAP.
3 Q3 2026 Results Metric Third Quarter 2026 Revenue $123.1 million Exome and genome volume 32,134 Exome and genome revenue $110.4 million Adjusted gross margin1 72% Adjusted net income1 $8.6 million Cash on hand $171.1 million 1 Adjusted gross margin and adjusted net income are non-GAAP financial measures. See appendix for a reconciliation of GAAP to non-GAAP figures presented.
4 Delivering strong volume growth while improving reimbursement Exome and genome volume year-over-year: • Q3 2026 reported volume up 25% YoY to 32,134 • Accession volume growth up 28% YoY, indicating strong demand 32,134 Q1 2025 Exome and Genome Volume Q2 2025 Q3 2025 Q4 2025 Q1 2026 0 5,000 10,000 15,000 20,000 25,000 30,000 Q3 2024 Q4 2024 19,262 Q2 2026 25,702 Q3 2026
5 Revenue growth stepped up driven by mix shift and RCM performance $110.4 Q1 2025 Exome and Genome Revenue (in $M) Q2 2025 Q3 2025 Q4 2025 Q1 2026 0 $20 $98.9 Q3 2024 Q4 2024 $60.0 Exome and genome revenue year-over-year: • Q3 2026 up $10M sequentially and 12% YoY • Q3 ARR up 5% sequentially to ~$3,430 • No material changes to underlying average contracted rates this quarter $40 $60 $80 $100 $120 Q2 2026 Q3 2026
6 We've organized the company around three key imperatives Optimize unit economics Deliver the leading products at unmatched scale Grow utilization of exome and genome
7 2026 Guidance Update Metric Full Year 2026 Previous Guidance August 3, 2026 Full Year 2026 Updated Guidance November 9, 2026 Fourth Quarter of 2026 Guidance November 9, 2026 Revenue $475 to $490 million $475 to $490 million $135 million Exome and genome volume At least 30% growth At least 28% growth 34,500 tests Exome and genome revenue At least 20% growth At least 17% growth $121 million Adjusted gross margin1 Approximately 70% Approximately 71% At least 71% Adjusted net income1 Positive Approximately $12 million Approximately $12 million 1 Adjusted gross margin and adjusted net income are non-GAAP financial measures.
8 Appendix
9 Empowering everyone to live their healthiest life through genomics
10 GeneDx is the global leader in rare disease diagnosis The largest and most diverse rare disease dataset to deliver highest accuracy Diagnosing more rare disease patients than anyone else and delivering 500+ new gene-disease discoveries over 25 years Preferred by 80% of geneticists and granted FDA Breakthrough Device designation The #1 genetic test Experience & TechnologyGeneDx InfinityTM 1. GeneDx Internal Data, data on file 2026 2. Claims data provided by Definitive Healthcare
11 An accurate genetic diagnosis is key to transforming healthcare Enabling precision genomic medicine Providing an early and accurate genetic diagnosis Fueling drug discovery
12 Delivering the future of precision medicine via the network effect Biopharma Accelerating drug discovery, enabling clinical trials, and unlocking biomarkers for targeted therapies with real-world evidence Policymakers Improving population health outcomes with support for evidence-based policies driving innovation and efficiencies Patients Delivering faster, more accurate diagnosis with personalized treatments based on biology, leading to better outcomes Health Systems Improving clinical decisions, streamlining care pathways, and reducing costs with genomic insights Payers Reducing long-term spend through effective, targeted treatments supporting value-based care models with measurable outcomes Advocacy Delivering answers for families, advancing equitable care, and connecting patients and parents across rare and underserved communities
13 Trusted by the nation’s leading health systems
14 >2.5M >50% >8M ~1M >8M >60% genetic tests non-European descent health records exomes & genomes phenotypic datapoints have parental data GeneDx InfinityTM is the largest and most diverse rare disease dataset Greatest scale advantage Fastest diagnosis and most efficient operations Most comprehensive understanding of rare disease Billions of datapoints inform expert analysis The most accurate diagnosis 2x the answers compared to public datasets 1. GeneDx Internal Data, data on file 2026
15 Our AI strategy accelerates the flywheel effect of our data Additional patients tested Improved interpretation platform Higher diagnostic yields and more answers More underlying data N A T U R A L L A N G U A G E P R O C E S S I N G M A C H I N E L E A R N I N G L A R G E L A N G U A G E M O D E L S Creating the Lab of the Future to translate cutting-edge innovation into better patient outcomes The compounding power of the data from each new patient informs more diagnoses and extends our lead Proprietary AI models and algorithms constantly enhance our accuracy, scale, speed, and efficiency
16 Upside Opportunities International, Biopharma/Data, Precision Medicine Pediatrics & Rare Pediatric Specialists, Pediatricians, NICU, Prenatal, and gNBS Adult Adult Neurologists, Adult Cardiologists, and Other Specialists $25B $20B This large and ever-growing opportunity is ours to win
17 On average, an accurate diagnosis takes 5 years GeneDx provides answers in months weeks days hours First symptom Visit primary care physician Referral to a specialist Genetic testing (CMA) No diagnosis Online research Another specialist Wrong treatment or undue surgery Genetic testing (panel) Inconclusive results New symptoms Genetic specialist Genetic counseling Order exome or genome DiagnosisDisease- specific care and resources The economic burden of rare diseases in the U.S. is over $1 trillion annually 1. Marwaha S, Knowles JW, and Ashley EA. A guide for the diagnosis of rare and undiagnosed disease: beyond the exome. Genome Med. 2022 Feb 28;14(1):23. 2. Tisdale, A., Cutillo, C.M., Nathan, R. et al. The IDeaS initiative: pilot study to assess the impact of rare diseases on patients and healthcare systems. Orphanet J Rare Dis 16, 429 (2021).
18 Focused on four operational levers to improve blended average reimbursement rates Manage Mix Expand Payer Coverage Invest In Technology Implement Payer-Specific Workflows1 3 2 4
19 We are monitoring key metrics that translate to higher blended ARR over time Payer Policy CoverageProduct Mix Commercial Covered Lives Genome Q3 outpatient genome mix 98% 90% 88% 47% Exome Q1 Q3 Q1 Q3 Q3 outpatient genome volume submitted to payers with an active positive coverage policy Collection Rate Q3 collection rate for outpatient genome 1 3 2 39 25 37 State Medicaid Policies Cover outpatient exome and/or genome Cover outpatient exome Cover outpatient genome
20 Medicaid programs across the country are expanding access 1. GeneDx Internal Data, data on file 2026 Exome Coverage Only Genome Coverage Only Exome and Genome Coverage No Coverage Current Medicaid Coverage Landscape New or Enhanced Coverage
21 Our north star is to diagnose as many people as fast as possible
22 Our stacked, compounding growth strategy unlocks new opportunities Foundational Markets (Launched) Expansion Markets (Ramping) Future Markets (Developing) • Geneticists (since inception) • Pediatric Specialists (since 2023) • General Pediatricians (H2 2026) • NICU (since 2024) • Prenatal (H2 2026) • Adult Specialists (H2 2026) • International (since 2025) • gNBS • New Channels • BioPharma & Data Three layers, multiple building blocks to sustained high growth with disciplined expansion plan
23 Diversifying call points unlocks our total addressable market and brings the power of genomic testing to every patient that can benefit 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Geneticsits Pediatric Specialists Prenatal NICU Adult specialists General Pediatrics Clinician Penetration by Market 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Geneticsits Pediatric Specialists Prenatal NICU Adult specialists General Pediatrics Patient Penetration by Market 5K2K 800 accounts 10.5K 25K4.6K ti ist enetici ts S i li t S 145K300K 235K160K 600K210K Number of U.S. PatientsNumber of U.S. Clinicians
24 GeneticistPrenatal Standard of care: years of disease progression Pediatrician Entering new markets to deliver answers at the earliest moment possible NICU Adult Specialist Pediatric Specialist
25 Geneticists remain key customers and prefer GeneDx Geneticist recommendations reinforce our leadership in new markets Leading position: 80% market share driven by superior accuracy, broad access, and cutting-edge discovery Continued growth: Largest contributor to revenue today with room to grow via ongoing panel conversion Loyal advocates: As we continue to expand, these ~2,000 geneticists are key influencers for other clinicians 1. GeneDx Internal Data, data on file 2026 2. Claims data provided by Definitive Healthcare Foundational Market
26 Pediatric specialists continue to drive high growth Significant share: Over 30% of pediatric neurologists now order from us with continued growth ahead Strong awareness: Greatest brand recognition of any genetics lab - over 80% of pediatric specialists know GeneDx Expanding our footprint: Continuing to add new call points and indications to serve the over 10,000 rare diseases Increased ordering and new customer activation driving expansion 1. GeneDx Internal Data, data on file 2026 2. Claims data provided by Definitive Healthcare 3. Fu MP, Merrill SM, Sharma M, et al. Rare diseases of epigenetic origin: Challenges and opportunities. Front Genet. 2023 Feb 6;14:1113086. doi: 10.3389/fgene.2023.1113086. PMID: 36814905. Foundational Market
27 Pediatricians are becoming the new front line of genomic medicine Massive market: 600K patients diagnosed with DD/ID by 25K pediatricians annually First mover to an untapped market with the #1 genetic test in hand Trusted partner & clear leader: Leading product, wraparound services, expert endorsements, and health system relationships Customer experience: Pediatricians can integrate genomics into routine care with easy ordering Expansive reach: Dedicated team of ~50 sales reps expected to drive impact by the end of 2026 and into 2027 1. GeneDx Internal Data, data on file 2026 2. Claims data provided by Definitive Healthcare Expansion Market
28 The NICU is an untapped opportunity for early intervention and improved outcomes Taking a protocol-driven approach to benefit more patients and lower healthcare costs Large unmet need: Up to 60% of NICU patients could benefit from rWGS per SeqFirst (~235k patients) but less than 5% of them receive genetic testing today 1. Wenger TL, Scott A, Kruidenier L, et al. SeqFirst: Building equity access to a precise genetic diagnosis in critically ill newborns. Am J Hum Genet. 2025 Mar 6;112(3):508-522. 2. Claims data provided by Definitive Healthcare 3. Kingsmore, Stephen F et al. NPJ genomic medicine vol. 9,1 17. 27 Feb. 2024 4. GeneDx Internal Data, data on file 2026 Deep relationships: 42 of the top 50 NICUs ordered rapid testing from us in 2025, positioning us to scale Fastest TAT: Leading rapid and ultrarapid genome tests deliver precise answers in as soon as 48 hours Expansion Market
29 GenomeDx Prenatal extends our industry-leading diagnostic capabilities into prenatal care Setting a new standard for prenatal genomic diagnoses Large unmet need: For patients with structural anomalies on prenatal ultrasound, impacting up to 4% of pregnancies Extensive prenatal experience: Building upon 10+ years of experience offering CMA and 4,000+ prenatal exomes Timely answers: Delivering the most accurate and comprehensive diagnostic results in less than two weeks to guide critical care decisions 1.Salomon LJ, Alfirevic Z, Berghella V, et al. Practice guidelines for performance of the routine mid-trimester fetal ultrasound scan. Ultrasound Obstet Gynecol. 2011 Jan;37(1):116-26. 2. GeneDx Internal Data, data on file 2026 Expansion Market
30 Adult specialists will unlock future growth and impact Putting commercial focus behind the organic growth in adult exome and genome testing New market: Expanding to neurologists in 2026 with a focus on clinicians already ordering genetic testing Green space: Strong demand and reimbursement for adults living with pediatric-onset conditions like epilepsy Long-term potential: Future opportunities could expand to cardiology, neurodegenerative disorders, and more, representing up to 5M patients 1. GeneDx Internal Data, data on file 2026 2. Claims data provided by Definitive Healthcare Expansion Market
31 Global reach with decentralized testing powered by centralized intelligence from GeneDx InfinityTM Cloud-native platform enables remote interpretation while complying with local regulations Providing leading interpretation services to key domestic partners Expanded international footprint with sales reps in key geographies Expansion Market
32 Transforming healthcare from diagnostic odyssey to day one action with gNBS GeneDx has the evidence, experience, and operational capabilities to lead global adoption • Partnering with first movers to make gNBS a reality o GUARDIAN o BRIDGES-NBS o Sunshine Genetics • Without gNBS, the average age of diagnosis for these conditions is 7-11 years old Data from the GUARDIAN study: • Nearly 75% of parents opted into testing • Implemented diverse multi- site programs Evidence Experience Capabilities • Actionable conditions identified in 3.2% of newborns • Sequenced >30,000 newborns • Operations optimized for accuracy, speed, and scale • Flexible services – from end- to-end testing to decentralized interpretation • Technical expertise to responsibly bring this technology to patients 1. Ziegler A, Koval-Burt C, Kay DM, et al. Expanded Newborn Screening Using Genome Sequencing for Early Actionable Conditions. JAMA. Published online October 24, 2024. doi:10.1001/jama.2024.1966 2. GeneDx Internal Data, data on file 2026 Future Market
33 Pioneering new channels and partnerships to deliver on the promise of precision genomic medicine Future Market
34 Unlocking faster HEOR, biopharma innovation, and AI-driven discovery Genetic data Electronic health records Patient demographics Claims Prescription Imaging Deploying the most comprehensive, longitudinal dataset for rare disease ever assembled Future Market
35 Turning insight into biopharma impact
36 Proven leadership driving high-growth and operational excellence at scale Heidi Chen Chief Legal Officer Linda Genen Chief Medical Officer Jami Biliboaca Chief People Officer Katherine Stueland Chief Executive Officer Kevin Feeley Chief Financial Officer Melanie Duquette Chief Growth Officer Mark Gardner President Lisa Gurry Chief Business Officer Bryan Dechairo Chief Technology and Innovation Officer Nicole Maassen Chief Patient Access Officer
37 Executing the right strategy to drive durable, long-term growth Establish genomic testing as the standard, early answer for suspected genetic disease – expanding access, delivering faster and more actionable diagnoses, and leveraging GeneDx Infinity’s learning to continuously strengthen the platform Scale profitably through automation, commercial discipline, and operating leverage6 Convert access into realized revenue through payer, authorization, claims, and appeals excellence5 Compound the Infinity learning to improve diagnosis and create biopharma value4 Deliver the best clinical answer, faster through testing breadth, interpretation quality, and turnaround time3 Expand access across established and underpenetrated call points, health systems, and lower-friction patient pathways 2 Lead in rare-disease diagnosis by moving exome and genome testing earlier in care1
38 Our core competitive advantage compounds with every patient we test. We are setting the industry standard, delivering actionable answers for families and sustainable value for shareholders.
39 Reconciliation of non-GAAP financial measures Adjusted gross profit, adjusted gross margin, and adjusted net income (in $ thousands) Three months ended September 30, 2026 September 30, 2025 June 30, 2026 Revenue $ 123,101 $ 116,743 $ 114,440 Cost of services 37,041 32,216 36,202 Gross profit $ 86,060 $ 84,527 $ 78,238 Gross margin 69.9% 72.4% 68.4% Reconciliations: Depreciation and amortization expense 1,687 1,374 1,726 Stock-based compensation expense 371 219 561 Restructuring charges 18 – 47 Adjusted gross profit $ 88,136 $ 86,120 $ 80,572 Adjusted gross margin 71.6% 73.8% 70.4% (in $ thousands) Three months ended September 30, 2026 September 30, 2025 June 30, 2026 Net loss $ (12,327) $ (7,635) $ (17,740) Reconciliations: Depreciation and amortization expense 6,895 6,474 6,714 Stock-based compensation expense 8,253 10,586 6,342 Restructuring costs 867 128 3,295 Change in fair value of financial liabilities – 3,401 (220) Interest expense, net 1,779 562 1,185 Non-core lease costs 1,169 1,323 1,097 Other1 1,975 1,219 (262) Adjusted net income (loss) $ 8,611 $ 16,058 $ 411 1 Other represents income tax (expense) benefit and costs related to legal reserves for all periods presented. For the three months ended September 30, 2026, Other also includes costs for third party advisor fees related to our Revenue Cycle Transformation. For the three months ended September 30, 2025, Other also includes transaction costs incurred in connection with the acquisition of Fabric Genomics.