GeneDx Cuts Full-Year Exome and Genome Volume Outlook

The Tip Desk · November 12, 2026 · 2 min read

Third-quarter revenue was $123.1 million as adjusted net income reached $8.6 million and the company lowered full-year exome and genome volume growth to at least 28%.

GeneDx Holdings Corp. (WGS), a rare-disease genomic testing company, reported third-quarter 2026 revenue of $123.1 million, including $110.4 million in exome and genome testing.

Year-over-year growth slowed for a second straight quarter. Total revenue rose 5% from a year earlier, after 11% growth in the second quarter and 17% in the first. Exome and genome revenue rose 12%, after 17% and 27% year-over-year increases in the prior two quarters.

Test volume followed the same deceleration. Exome and genome results reached 32,134, up 25% from a year earlier, after 32% growth in the second quarter and 34% in the first. Accession growth was 28% year-over-year.

Profitability improved even as growth rates eased. Adjusted net income was $8.6 million, up $8.2 million from $0.4 million in the second quarter, after an $8.2 million adjusted net loss in the first quarter. GAAP net loss was $12.3 million.

Adjusted gross margin expanded to 72% from 70% in the second quarter and 69% in the first. GAAP gross margin was 70%. Adjusted total operating expenses were $79.4 million, or 65% of revenue, down from 70% of revenue in the second quarter and 76% in the first.

Chief Executive Katherine Stueland said the quarter reflected profitable execution in a growing market as the company translated rising demand for exome and genome testing into revenue growth.

GeneDx reiterated full-year 2026 revenue guidance of $475 million to $490 million. It cut exome and genome volume guidance to at least 28% growth from at least 30%, and cut exome and genome revenue guidance to at least 17% growth from at least 20%. Full-year adjusted gross margin is now expected at approximately 71%, and adjusted net income at approximately $12 million.

For the fourth quarter of 2026, management expects revenue of $135 million, 34,500 exome and genome tests, exome and genome revenue of $121 million, adjusted gross margin of at least 71%, and adjusted net income of approximately $12 million.

Cash, cash equivalents, marketable securities and restricted cash was $171.1 million as of September 30, 2026, versus $133.5 million as of June 30.

The company said it expanded the number of state Medicaid programs covering whole genome sequencing to 25 with the addition of Arkansas and Utah. It also announced a long-read whole genome sequencing portfolio enhancement, an online offering for pediatric exome testing in global developmental delay, intellectual disability or epilepsy, and sponsored testing programs with Mirum Pharmaceuticals and Beren Therapeutics.