--- title: "GeneDx - CW27 | 10-K: FY2025 Revenue: USD 427.54 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/276605635.md" datetime: "2026-02-23T13:24:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276605635.md) - [en](https://longbridge.com/en/news/276605635.md) - [zh-HK](https://longbridge.com/zh-HK/news/276605635.md) generator: "portal-rs" --- # GeneDx - CW27 | 10-K: FY2025 Revenue: USD 427.54 M Revenue: As of FY2025, the actual value is USD 427.54 M. EPS: As of FY2025, the actual value is USD -0.73. EBIT: As of FY2025, the actual value is USD -10.54 M. #### Segment Revenue - **Diagnostic Test Revenue:** GeneDx Holdings Corp. reported diagnostic test revenue of $416.7 million in 2025, an increase of 38% from $302.2 million in 2024, primarily driven by a $126.8 million rise in exome and genome sequencing revenues due to a 30% increase in test volumes and an 18% increase in average reimbursement rates. This growth was partially offset by reduced revenue from non-core hereditary cancer tests that were phased out by the end of 2025. For 2025, revenues from patients with third-party insurance were $345.2 million, institutional customers contributed $70.1 million, and self-pay patients accounted for $1.4 million. - **Other Revenue:** This segment saw an increase of $7.6 million, reaching $10.9 million in 2025, compared to $3.3 million in 2024. This increase includes $3.4 million in non-testing revenue from the newly acquired Fabric Genomics operating segment and growth in data and biopharma programs. #### Operational Metrics - **Net Loss:** The company reported a net loss of - $21.0 million in 2025, which is an improvement from - $52.3 million in 2024 and - $175.8 million in 2023. - **Gross Profit & Margin:** Gross profit increased by $103.8 million in 2025, reaching $298.2 million, up from $194.4 million in 2024 and $90.0 million in 2023. The gross margin was 69.7% in 2025, compared to 63.6% in 2024 and 44.4% in 2023. Adjusted gross profit was $304.3 million in 2025, $198.9 million in 2024, and $93.3 million in 2023, with adjusted gross margins of 71.2%, 65.1%, and 46.0% respectively. - **Loss from Operations:** The operating loss improved to - $13.1 million in 2025 from - $23.2 million in 2024 and - $180.6 million in 2023. - **Operating Costs:** - **Research and Development (R&D) Expenses:** R&D expenses increased by $26.3 million, or 58%, to $72.0 million in 2025 from $45.7 million in 2024, mainly due to $24.3 million in compensation-related costs and the inclusion of Fabric Genomics’ R&D costs. - **Selling and Marketing Expenses:** These expenses rose by $21.0 million, or 31%, to $88.4 million in 2025 from $67.4 million in 2024, primarily due to $16.5 million in higher compensation-related costs and the inclusion of Fabric Genomics’ selling and marketing costs. - **General and Administrative (G&A) Expenses:** G&A expenses grew by $46.3 million, or 44%, to $150.8 million in 2025 from $104.5 million in 2024, largely driven by $33.0 million in increased compensation, $9.5 million in higher legal, compliance, and consultant costs, and $6.1 million in increased IT software and infrastructure costs, partially offset by an $8.4 million one-time sales-and-use tax refund. #### Cash Flow - **Operating Activities:** Net cash provided by operating activities was $33.3 million in 2025, a significant improvement from net cash used of - $28.5 million in 2024 and - $180.1 million in 2023, driven by improved gross margin profitability and favorable net working capital. - **Investing Activities:** Net cash used in investing activities was - $61.5 million in 2025, compared to - $30.1 million in 2024 and - $43.7 million in 2023. This included - $32.9 million for the acquisition of Fabric Genomics, - $19.0 million for property and equipment purchases, and - $9.6 million in net marketable securities activity. - **Financing Activities:** Net cash provided by financing activities was $48.0 million in 2025, primarily from $46.7 million in net proceeds from at-the-market offerings. - **Free Cash Flow:** Free cash flow was not explicitly reported in the provided reference. #### Unique Metrics - **Exome and Genome Test Volumes:** GeneDx Holdings Corp. reported 97,271 exome and genome tests in 2025, representing 43% of all test results, compared to 74,547 tests (33% of all tests) in 2024 and 49,439 tests (22% of all tests) in 2023. - **Fabric Genomics Revenue Contribution:** The acquisition of Fabric Genomics contributed $4.5 million in revenue to the company’s results for the year ended December 31, 2025. #### Outlook / Guidance GeneDx Holdings Corp. believes its current cash, cash equivalents, and available-for-sale marketable securities will provide sufficient liquidity for at least twelve months from the filing date. The company may pursue additional funding through equity or debt securities, credit facilities, or asset disposals to support operations and expansion. 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