GeneDx Holdings Corp. has recently released its 10-K report, providing detailed insights into its financial performance and operations. GeneDx is a genomics company based in Stamford, Connecticut, specializing in genetic testing services, particularly in pediatric and rare disease diagnostics. The company focuses on whole exome and genome sequencing, as well as data and information services. Additionally, GeneDx has developed an AI-based platform for NGS analysis, interpretation, and clinical reporting for rare disease, hereditary risk, and cancer testing.
The 10-K report delves into various aspects of the company's financial condition and results of operations. Notably, GeneDx reported a significant increase in test volume, resulting in 97,271 exome and genome tests in 2025, representing a 43% share of all test results, compared to 74,547 and 49,439 tests in 2024 and 2023, respectively. The company attributes this growth to its focus on expanding market penetration and obtaining contracted reimbursement coverage from third-party payors.
GeneDx emphasized its efforts to lower the costs associated with performing diagnostic tests, with a strategic objective to reduce the cost per test over the long term through improved utilization of laboratory capacity and automation. The company also highlighted its investment in platform innovation to support commercial growth, acknowledging the rapidly evolving and highly competitive nature of the industry.
In terms of financial performance, GeneDx reported a substantial increase in total revenue, which rose by $122.1 million, or 40%, to $427.5 million for the year ended December 31, 2025, from $305.5 million for the year ended December 31, 2024. Diagnostic test revenue saw a notable surge, increasing by $114.5 million, or 38%, to $416.7 million for the year ended December 31, 2025, from $302.2 million for the year ended December 31, 2024. This growth was primarily driven by a $126.8 million increase in exome and genome sequencing revenues, supported by a 30% rise in test volumes and an 18% increase in average reimbursement rates.
Despite the growth in revenue, the company reported a loss from operations amounting to $13.1 million for the year ended December 31, 2025, representing a decrease of $10.1 million from the previous year. The non-operating expenses, however, decreased by $21.4 million, contributing to a decrease in the net loss from $52.3 million in 2024 to $21.0 million in 2025.
Today the company's shares have moved -1.1% to a price of $108.08. If you want to know more, read the company's complete 10-K report here.
