GeneDx Holdings Corp. reported its fourth quarter and full year 2024 financial results on February 18, 2025, showcasing robust growth and profitability. Fourth quarter 2024 revenues reached $95.3 million, a 64% increase year-over-year, contributing to full-year 2024 revenues of $302.3 million, up 56% from the previous year.
The company's core exome and genome business demonstrated exceptional performance, with revenues growing 101% year-over-year in Q4 2024 to $78.8 million, and 88% for the full year to $233.5 million. Adjusted gross margins expanded significantly, reaching 70% in Q4 2024 and 65% for the full year, up from 56% and 45% respectively in 2023.
GeneDx achieved adjusted net income of $16.8 million in Q4 2024 and $6.7 million for the full year, marking a significant turnaround to profitability. For full-year 2025, the company issued guidance projecting revenues between $350 million and $360 million, with at least 30% growth in exome and genome volume and revenue. Adjusted gross margins are expected to be between 65% and 67%, with continued profitability each quarter.
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