GeneDx Stock Climbs After Better-Than-Expected Q1 Results, Raises FY24 Guidance
Portfolio Pulse from Erica Kollmann
GeneDx Holdings Corp. (NASDAQ:WGS) reported Q1 financial results surpassing analyst expectations with a loss of 33 cents per share against an estimated 67 cents, and quarterly sales of $62.422 million, beating estimates by 26.2%. The company has raised its FY24 revenue guidance to $235-$245 million and expects to reach profitability in 2025. Shares surged 29.36% after-hours to $11.
April 29, 2024 | 9:14 pm
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GeneDx Holdings Corp. (WGS) exceeded Q1 earnings and revenue forecasts, significantly raised FY24 revenue guidance, and anticipates profitability by 2025.
GeneDx's better-than-expected Q1 results and the upward revision of its FY24 revenue guidance reflect strong operational performance and growth prospects. This positive news directly impacts investor sentiment and is likely to drive the stock price up in the short term, as evidenced by the after-hours trading surge.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100