GeneDx Holdings Corp. Files Q3 2024 10-Q

TL;DR

GeneDx 10-Q filed: Q3 2024 results in. Check financials.

AI Summary

GeneDx Holdings Corp. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Sema4 Holdings Corp., reported financial results for the third quarter and the first nine months of 2024. Key financial data and operational segments were disclosed, including information related to diagnostic tests.

Why It Matters

This filing provides investors with an update on GeneDx's financial performance and operational status for the third quarter of 2024, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's financial health and operational performance, as detailed within, carry inherent risks.

Key Numbers

• Q3 2024 — Reporting Period (Financial results for the third quarter of 2024 are detailed.)
• Nine Months Ended 2024-09-30 — Year-to-Date Period (Financial results for the first nine months of 2024 are detailed.)

Key Players & Entities

• GeneDx Holdings Corp. (company) — Filer of the 10-Q
• Sema4 Holdings Corp. (company) — Former name of GeneDx Holdings Corp.
• 20240930 (date) — End of the reporting period
• 20241029 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share WGS The Nasdaq Stock Market L
• $379.50 — mon stock, each at an exercise price of $379.50 per share WGSWW The Nasdaq Stock Market
• $0 — ares of Class A common stock, par value $0.0001, outstanding at October 22, 2024.

Filing Documents

• wgs-20240930.htm (10-Q) — 1389KB
• exhibit311-ceocertificatio.htm (EX-31.1) — 11KB
• exhibit312-cfocertificatio.htm (EX-31.2) — 11KB
• exhibit321-ceocertificatio.htm (EX-32.1) — 5KB
• exhibit322-cfocertificatio.htm (EX-32.2) — 5KB
• wgs-20240930_g1.jpg (GRAPHIC) — 16KB
• 0001818331-24-000059.txt ( ) — 8095KB
• wgs-20240930.xsd (EX-101.SCH) — 53KB
• wgs-20240930_cal.xml (EX-101.CAL) — 75KB
• wgs-20240930_def.xml (EX-101.DEF) — 339KB
• wgs-20240930_lab.xml (EX-101.LAB) — 707KB
• wgs-20240930_pre.xml (EX-101.PRE) — 515KB
• wgs-20240930_htm.xml (XML) — 1192KB

Financial Information

Part I. Financial Information Item 1. Condensed Consolidated Financial Statements (Unaudited) 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 40

Signatures

Signatures 41 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain matters discussed in this report, including matters discussed under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations," may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, (the "Exchange Act"), and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. The words "anticipate," "believe," "estimate," "may," "expect" and similar expressions are generally intended to identify forward-looking statements. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation, those discussed under the captions "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in this report, as well as other factors which may be identified from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), or in the documents where such forward-looking statements appear. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements. Such forward-looking statements include, but are not limited to, statements about: our estimates of the sufficiency of our existing capital resources combined with future anticipated cash flows and future capital requirements to finance our operating requirements, and capital expenditures; our expectations for generating revenue, incurring losses, and becoming profitable on a sustained basis; unforeseen circumstances or other disruptions to normal business operations

- Financial Information

Part I - Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements GeneDx Holdings Corp. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) September 30, 2024 (Unaudited) December 31, 2023 Assets: Current assets: Cash and cash equivalents $ 57,894 $ 99,681 Marketable securities 58,566 30,467 Accounts receivable 38,220 32,371 Due from related parties 260 445 Inventory, net 10,770 8,777 Prepaid expenses and other current assets 20,300 10,598 Total current assets 186,010 182,339 Operating lease right-of-use assets 24,936 26,900 Property and equipment, net 31,452 32,479 Intangible assets, net 162,106 172,625 Other assets 4,336 4,413 Total assets $ 408,840 $ 418,756 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable and accrued expenses $ 56,416 $ 37,456 Due to related parties 727 1,379 Short-term lease liabilities 3,698 3,647 Other current liabilities 16,501 16,336 Total current liabilities 77,342 58,818 Long-term debt, net of current portion 52,034 52,688 Long-term lease liabilities 60,369 62,938 Other liabilities 13,540 14,735 Deferred taxes 1,054 1,560 Total liabilities 204,339 190,739 Purchase commitments and contingencies (Note 9) Stockholders' Equity: Preferred stock, $ 0.0001 par value: 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Class A common stock, $ 0.0001 par value: 1,000,000,000 shares authorized, 27,433,803 and 25,978,863 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 2 2 Additional paid-in capital 1,561,493 1,527,778 Accumulated deficit ( 1,357,912 ) ( 1,300,188 ) Accumulated other comprehensive income 918 425 Total stockholders' equity 204,501 228,017 Total liabilities and stockholders' equity $ 408,840 $ 418,756 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 Table of Contents GeneDx Holdings

View Full Filing

View this 10-Q filing on SEC EDGAR