GeneDx Holdings Corp. reported its financial results for the second quarter of 2026, revealing a total revenue of $114.4 million, an increase of 11% from $102.7 million in the same period last year. The growth was primarily driven by a 12% rise in diagnostic test revenue, which reached $111.9 million, attributed to a 32% increase in test volumes, particularly in whole exome and genome sequencing. However, this was partially offset by a 12% decline in average reimbursement rates. The company’s gross profit also saw an increase, rising to $78.2 million, up 10% from $70.9 million in the prior year.
In contrast to the revenue growth, GeneDx reported a net loss of $17.7 million for the quarter, compared to a net income of $10.8 million in Q2 2025. This significant shift was influenced by a 62% increase in selling, general, and administrative expenses, which totaled $76 million, largely due to strategic investments in expanding the commercial organization and increased marketing expenditures. Additionally, the company recorded a non-cash impairment charge of $31.3 million related to the goodwill and intangible assets from its acquisition of Fabric Genomics.
Operationally, GeneDx reported a total of 30,785 exome and genome tests resulted during the quarter, representing 49% of all test results, compared to 23,246 tests, or 40%, in the same quarter last year. The company’s employee headcount has also increased as part of its growth strategy, although specific figures were not disclosed. The company continues to focus on expanding its customer base and enhancing its genomic database, which is critical for its long-term growth.
Looking ahead, GeneDx has expressed optimism about its future performance, emphasizing its commitment to increasing the adoption of its services and expanding coverage and reimbursement for its tests. The company has also secured a $150 million term loan facility with Blackstone, which it plans to use for general corporate purposes and to support its growth initiatives. Despite the current challenges, including the need to improve reimbursement rates and manage operational costs, GeneDx remains focused on leveraging its genomic expertise to drive innovation and enhance patient care.
About GeneDx Holdings Corp.
GeneDx Holdings specializes in genetic testing and genomic interpretation for rare and complex diseases. Utilizing exome and whole genome sequencing, the company provides diagnostic solutions, data analysis, and interpretation services to healthcare providers, researchers, and biopharma partners. Its industry-leading dataset and advanced bioinformatics enable accurate, scalable, and actionable genetic insights, primarily serving pediatric and rare disease markets worldwide.
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