Charges
related
Depreciation Stock-based Change in FV to
and compensation Restructuring of financial business
Reported amortization expense costs liabilities exit Other Adjusted
------------ ---------------- ---------------- ----------------- --------------- -------- ------ ------------
Diagnostic test
revenue $ 51,955 $ -- $ -- $ -- $ -- $ -- $ -- $ 51,955
Other revenue 1,348 -- -- -- -- -- -- 1,348
------- ------- --- ------- --- --- ------- --- ----- ---- ------ ----- -------
Total revenue 53,303 -- -- -- -- -- -- 53,303
Cost of
services 28,044 (1,613) (75) (52) -- -- -- 26,304
------- ------- ------- --- ------- ----- ---- ------ ----- -------
Gross profit 25,259 1,613 75 52 -- -- -- 26,999
Gross margin 47.4% 50.7%
Research and
development 14,288 (283) 533 (970) -- -- -- 13,568
Selling and
marketing 16,763 (1,225) 115 (415) -- -- -- 15,238
General and
administrative 26,099 (5,551) (1,004) (754) -- -- -- 18,790
Impairment loss 8,282 -- -- -- -- (8,282) -- --
Other, net 2,794 -- -- -- -- (1,014) -- 1,780
Loss from
operations (42,967) 8,672 431 2,191 -- 9,296 -- (22,377)
Interest income
(expense),
net 1,053 -- -- -- -- -- -- 1,053
Other income
(expense),
net $(544.SI)$ -- -- -- (590) -- 1,134 --
Income tax
benefit 172 -- -- -- -- -- -- 172
------- ------- --- ------- --- --- ------- --- ----- ---- ------ ----- -------
Net loss $(42,286) $ 8,672 $ 431 $ 2,191 $ (590) $ 9,296 $1,134 $(21,152)
======= ======= === ======= === === ======= === ===== === ====== ===== =======
Three months ended June 30, 2024
-----------------------------------------------------------------------------------------------------------------
Charges
Change in related
Depreciation Stock-based FV of to
and compensation Restructuring financial business
Reported amortization expense costs liabilities exit Other Adjusted
------------ ---------------- ---------------- ----------------- ----------- --------- ------- -----------
Diagnostic test
revenue $ 69,439 $ -- $ -- $ -- $ -- $ -- $ -- $69,439
Other revenue 1,075 -- -- -- -- -- -- 1,075
------- ------- --- ------- --- --- ------ ---- ---------- -------- ------ ------
Total revenue 70,514 -- -- -- -- -- -- 70,514
Cost of
services 27,562 (808) (86) -- -- -- -- 26,668
------- ------- ------- --- ------ ---- ---------- -------- ------ ------
Gross profit 42,952 808 86 -- -- -- -- 43,846
Gross margin 60.9% 62.2%
Research and
development 10,902 (211) (347) (35) -- -- -- 10,309
Selling and
marketing 16,585 (1,225) (368) (63) -- -- -- 14,929
General and
administrative 25,170 (2,974) (2,307) (150) -- -- -- 19,739
Impairment loss -- -- -- -- -- -- -- --
Other, net 874 -- -- -- -- -- -- 874
Loss from
operations (10,579) 5,218 3,108 248 -- -- -- (2,005)
Interest income
(expense),
net (894) -- -- -- -- -- -- (894)
Other income
(expense),
net (17,890) -- -- -- 4,409 -- 13,450 (31)
Income tax
benefit 190 -- -- -- -- -- -- 190
------- ------- --- ------- --- --- ------ ---- ---------- -------- ------ ------
Net loss $(29,173) $ 5,218 $ 3,108 $ 248 $ 4,409 $ -- $13,450 $(2,740)
======= ======= === ======= === === ====== ==== ========== ======== ====== ======
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 (1) 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
--------------- --------------
Stockholders' Equity:
Preferred stock -- --
Class A common stock 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
(MORE TO FOLLOW) Dow Jones Newswires
October 29, 2024 08:00 ET (12:00 GMT)
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