The sharp guidance cut signals deteriorating unit economics despite volume growth. Expect significant downside pressure; watch for analyst downgrades and further details on ARR stabilization. Avoid buying until the new run-rate confidence is established.
Price Chart
Executive Summary
GeneDx reported Q1 2026 revenue of $102.3M (17% YoY growth but below $112.5M consensus) and an adjusted net loss of $8.2M vs. $9.2M adjusted net income a year ago. Full-year 2026 revenue guidance was slashed from $540-$555M to $475-$490M, driven by lower blended ARR due to product mix shifts, sending a strongly bearish signal.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $102.3M vs. consensus $112.5M (miss of ~9% or $10M)
- Full-year 2026 revenue guidance cut to $475-$490M from $540-$555M (12% reduction at midpoint)
- Exome/genome volume grew 34% YoY but blended ARR fell to ~$3,300 due to mix shift toward genome and away from parental samples
- Adjusted net loss of $8.2M vs. adjusted net income of $9.2M in Q1 2025 (swung to loss)
- GAAP net loss widened to $63.3M, including $31.3M impairment and $6.6M debt extinguishment loss
- Cash position $171.7M as of March 31, 2026
Financial Impact
Revenue miss of ~$10M vs consensus; full-year revenue guidance cut by ~$65M at midpoint; adjusted net income swung to a loss of $8.2M from +$9.2M
Risk Factors
- Continued pressure on average revenue per test (blended ARR) from product mix shift
- Potential further guidance cuts if reimbursement or collection rates do not improve
- High GAAP losses and impairment charges indicate elevated cash burn
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001818331-26-000039 |
| Exhibit: exhibit991-q12026pressrele.htm | 0001818331-26-000039 |
| Document: wgsq12026earningspresent.htm | 0001818331-26-000039 |
| Document: wgs-20260504.htm | 0001818331-26-000039 |
| Document: 0001818331-26-000039-index-headers.html | 0001818331-26-000039 |
| Document: 0001818331-26-000039-index.html | 0001818331-26-000039 |
| Document: 0001818331-26-000039.txt | 0001818331-26-000039 |
| 8-K Data (Synthetic) | 0001818331-26-000039 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 4, 2026 25w ago | 8-K | $0.007800 $0.007800 | · 0.00% | ▲ +4.95% | No price |
Apr 29, 2026 25w ago | 144 | $0.007800 $0.007800 | · 0.00% | ▼ −5.23% | No price |
US Market Status
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