“The increase was primarily attributable to higher compensation-related costs of $6.2 million which reflects an investment to expand our product development team and the inclusion of research and development costs of Fabric Genomics.”10-Q · May 4, 2026 ↗
GeneDx Holdings Corp.
WGS
Market read
GeneDx Holdings Corp.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 17.4% versus the comparable filing period.
- The operating loss widened by 52.9M.
- Whole exome and genome test volumes increased 34% in Q1 2026, which the filing says primarily drove a $9.7M increase in gross profit.
Invalidation: The isolated read changes if WGS's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 17.4% versus the comparable filing period.
- The operating loss widened by 52.9M.
- Operating cash flow remained negative at -32.4M.
- Cash declined 5.8M versus the comparable period.
- Whole exome and genome test volumes increased 34% in Q1 2026, which the filing says primarily drove a $9.7M increase in gross profit.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +40.0% year over year.
- Operating margin changed +4.5 percentage points in the latest annual period.
- Net margin changed +12.2 percentage points in the latest annual period.
- Diluted shares increased 6.5% in the latest annual period.
- Product pipeline and R&D has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
- EV/sales is 28% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
85.08Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Goodwill and Intangible Assets The change in the carrying amount of goodwill during the three months ended March 31, 2026 was as follows: Balance at December 31, 2025 $ 13,520 Impairment charges ( 11,879 ) Balance at March 31, 2026 $ 1,641 During the first qu…”10-Q · May 4, 2026 ↗
“Non-Operating Expense, Net Non-operating expense, net of $5.8 million for the six months ended June 30, 2026 primarily reflected a $6.6 million loss on extinguishment of the Perceptive long-term debt and increased interest expense of $0.4 million as a result…”10-Q · Aug 3, 2026 ↗
“The impact of the changes in operating assets and liabilities was primarily driven by increased accounts payables and accrued expenses due to the timing of vendor payments and orders with suppliers which was partially offset by an increase in accounts receiva…”10-Q · May 4, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 5.7× · EV/sales 5.6×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for WGS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-05-04 against the comparable filing from 2025-04-30.
What improved
- Revenue increased 17.4% versus the comparable filing period.
What weakened
- The operating loss widened by 52.9M.
- Operating cash flow remained negative at -32.4M.
- Cash declined 5.8M versus the comparable period.
Filing receipts
“Goodwill and Intangible Assets The change in the carrying amount of goodwill during the three months ended March 31, 2026 was as follows: Balance at December 31, 2025 $ 13,520 Impairment charges ( 11,879 ) Balance at March 31, 2026 $ 1,641 During the first quarter of 2026, the Company concluded that a triggering event had occurred during the period for the goodwill associated with the Fabric Genomics reporting unit primarily due to a downward revision of forecasted cash flows driven by changes in commercial strategy and go-to-market execution, and lower revenue and profitability expectations.”
“For more information regarding our long-term debt, see Note 8, “ Long-term Debt .” Net cash provided by financing activities during the three months ended March 31, 2025 was $13.7 million, primarily driven by the $13.9 million net proceeds from our prior ATM offering, net of issuance costs.”
“Stock-Based Compensation Stock-based compensation expense is included within the condensed consolidated statements of operations and comprehensive loss as follows: Three months ended March 31, 2026 2025 Cost of services $ 380 $ 168 Research and development 1,406 419 Selling, general and administrative 7,210 3,396 Total stock-based compensation expense (1)(2) $ 8,996 $ 3,983 (1) The Company recorded an aggregate reversal of stock-based compensation of $ 0.8 million and $ 0.6 million during the three months ended March 31, 2026 and 2025, respectively, due to forfeiture activities upon employee terminations. (2) Includes $ 1.1 million and $ 0.3 million of expenses related to the 2021 Employee...”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind WGS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ILMNIllumina, Inc.supplierFeb 23, 2026 ▾
“In addition, there are a large number of new entrants into the market for genetic information ranging from informatics and analysis pipeline developers to focused, integrated providers of genetic tools and services for health and wellness, including Illumina,…”
AAgilent Technologies, Inc.supplierFeb 23, 2026 ▾
“7 Table of Contents Raw Materials and Suppliers We rely on a limited number of suppliers, including Illumina, Inc., Life Technologies Corporation, Twist Biosciences Corporation, Path-Tec LLC and Agilent Technologies.”
BXBlackstone Inc.lenderMay 4, 2026 ▾
“On February 27, 2026, we entered into a Loan Agreement (the “Loan Agreement”), among Blackstone Alternative Credit Advisors LP and Blackstone Life Sciences Advisors L.L.C.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
WGS is currently a Follower in the organic co-movement group High-Beta Growth. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.