GeneDx cuts revenue guidance

Updated GeneDx Full Year 2023 Guidance

GeneDx has updated its full year 2023 guidance. The continuing operations of GeneDx, excluding the financial impacts from the discontinued Legacy Sema4 diagnostic testing business, are expected to:

• Drive full year 2023 revenues of $187-$192 million (updated from previous guidance of $205-$220 million);
• Expand gross margin profile in 2023 and beyond (unchanged);
• Use $75 to $79 million of net cash for the second half of 2023 (updated from previous guidance of $75-$85 million), inclusive of servicing obligations of the exited business activities (unchanged); and
• Turn profitable in 2025 (unchanged)

https://www.globenewswire.com/news-release/2023/10/30/2769667/0/en/GeneDx-Reports-Third-Quarter-2023-Financial-Results-and-Business-Highlights.html