GeneDx Announces Preliminary 2023 Financial Results; Sees Q4 Revenue Of At Least $58M Vs $49.06M Est.; Sees FY23 Revenue Of At Least $203M Vs $188.3M Est.
Portfolio Pulse from Benzinga Newsdesk
GeneDx Holdings Corp. (NASDAQ:WGS) announced preliminary financial results for Q4 and FY 2023, exceeding revenue expectations. Q4 revenue is expected to be at least $58M, surpassing the $49.06M estimate, and FY23 revenue is projected to be at least $203M, above the $188.3M estimate. The company reported significant year-over-year growth in exome and genome test revenue and reduced cash burn. GeneDx reiterates its path to profitability by 2025 and will discuss detailed financial and operating results in a conference call on February 20, 2024.
January 08, 2024 | 2:14 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
GeneDx Holdings Corp. (WGS) reported preliminary Q4 revenue of at least $58M and FY23 revenue of at least $203M, both exceeding estimates. The company also reduced cash burn and is on track for profitability by 2025.
The positive preliminary financial results, with revenues exceeding estimates and reduced cash burn, are likely to be viewed favorably by investors. This could lead to a short-term positive impact on WGS's stock price as the market reacts to the company's better-than-expected performance and progress towards profitability.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100