Genetic Testing Firm GeneDx Reports Narrower Q3 Loss As Revenues Surge, Lifts Annual Guidance
Portfolio Pulse from Vandana Singh
GeneDx Holdings (NASDAQ:WGS) reported a narrower Q3 loss and increased revenues, leading to a significant stock price rise. The company beat earnings and revenue expectations, with a notable 77% growth in exome and genome test revenues. GeneDx also improved its adjusted gross margin and achieved positive adjusted net income. The company raised its 2024 revenue guidance, further boosting investor confidence.
October 29, 2024 | 3:11 pm
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GeneDx Holdings reported a significant improvement in Q3 financials, with a narrower loss and higher revenues than expected. The company also raised its 2024 revenue guidance, leading to a substantial increase in its stock price.
GeneDx's Q3 results showed a significant improvement in financial performance, with a narrower loss and higher revenues than expected. The company's raised guidance for 2024 further boosts investor confidence, resulting in a 46.8% increase in stock price. The strong growth in exome and genome test revenues and improved margins are key factors driving this positive outlook.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100