Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data GeneDx Holdings Corp. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
196
179
212
235
203
305
428
Cost of revenue
113
175
229
261
113
111
129
Gross profit
82.8
4.03
-16.6
-26.8
90
194
298
Research and development
34.9
72.7
105
86.2
58.3
45.7
72
Selling and marketing
39.4
63.2
113
122
61
67.4
88.4
General and administrative
29.5
101
206
216
139
105
151
Operating income
-30.4
-242
-446
-668
-181
-23.2
-13.1
Interest expense
0.78
2.47
2.84
3.21
Interest income
0.99
0.51
0.08
2.54
Other non-operating income
0.71
0.65
201
69.6
3.9
-29.4
-8.06
Pre-tax income
-29.7
-241
-245
-598
-177
-52.6
-21.1
Income tax
0
0
0
-49.1
-0.93
-0.34
-0.12
Net income
-29.7
-241
-245
-549
-176
-52.3
-21
EBITDA
-24
-230
-424
-618
-161
-15.3
-3.48
EPS, basic
-8,687,918.00
-1,547,569.00
-74.69
-53.63
-7.23
-1.94
-0.73
EPS, diluted
-8,687,928.00
-1,547,571.00
-74.69
-53.63
-7.23
-1.94
-0.73
Shares, basic (weighted)
0
0
3.28
10.2
24.3
26.9
28.6
Shares, diluted (weighted)
0
0
3.28
10.2
24.3
26.9
28.6
Balance sheet
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
115
108
401
124
99.7
85.2
105
Short-term investments
0
30.5
56
66.3
Receivables
32
26.5
42.6
37.6
74.4
Inventory
25
33.5
13.7
8.78
10.7
14
Other current assets
4.12
3.8
6.39
1.96
1.08
1.51
Total current assets
174
484
213
182
198
268
Property, plant and equipment
63.1
62.7
51.5
32.5
32.9
45.7
Lease right-of-use assets
0
32.8
26.9
25.6
23.4
Goodwill
0
0
0
13.5
Intangible assets
0
187
173
159
168
Other non-current assets
3.6
6.93
7.39
4.41
4.31
4.32
Total assets
252
554
491
419
419
524
Accounts payable
26.7
44.7
46
10.2
7.95
2.46
Accrued liabilities
11.9
20.1
20.3
12.2
12.4
44.7
Deferred revenue
1.78
0.47
0.04
Short-term debt
1.77
0
4.75
0.5
1.21
4.54
Total current liabilities
73.4
101
144
58.8
54.8
109
Long-term debt
19
11
6.25
52.7
51.9
48.2
Lease liabilities
44.5
44.4
42.7
38.8
Other non-current liabilities
2.07
21.9
24
14.7
5.52
1.64
Total liabilities
247
166
237
191
174
216
Total debt
20.7
11
11
56.3
55.8
54.5
Paid-in capital
0
964
1,378
1,528
1,597
1,681
Retained earnings
-330
-575
-1,124
-1,300
-1,352
-1,373
Other comprehensive income
0
0.43
0.83
0.94
Shareholders' equity
-88.7
-330
388
254
228
245
308
Total equity
-88.7
-330
388
254
228
245
308
Total liabilities and equity
252
554
491
419
419
524
Shares outstanding
7.37
11.8
26
28
29.2
Cash flow statement
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-29.7
-241
-245
-549
-176
-52.3
-21
Depreciation and amortization
6.41
11.7
21.8
50
19.7
7.9
9.6
Stock-based compensation
5.48
120
219
42
-0.33
9.14
32.2
Deferred income tax
0
0
0
-49.1
-1.09
-0.58
-0.98
Change in receivables
-4.57
-10.6
5.54
5.53
10.5
-5.18
-36.2
Change in inventory
-7.97
-8.98
-10.6
2.35
0.98
-2.59
-3.44
Change in payables
12.8
14.8
25.9
34.5
-49.2
-20.5
12.1
Cash from operations
-18.7
-93.1
-190
-319
-180
-28.5
33.3
Capital expenditures
-11.9
-24.1
-9.4
-7.16
-5.25
-5.49
-19
Acquisitions
0
0
-127
-12.1
0
Purchases of investments
0
-47.7
-66.3
-55.7
Sales and maturities of investments
0
17.8
41.1
44
Cash from investing
-15.5
-32
-20.8
-141
-43.7
-30.1
-61.5
Debt issued
0
15.9
0
0
48.5
0
0
Stock issued
0
0
350
198
0.29
0.39
2.02
Cash from financing
148
129
494
197
186
44.2
48
Net change in cash
114
3.95
283
-263
-37.6
-14.5
19.8
Free cash flow
-30.7
-117
-200
-326
-185
-34
14.3
Interest paid
0.31
1.75
2.75
1.93
3.04
6.68
6.41
Income taxes paid
0
0
0.35
1.24
0.1
0.2
0.66
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $88.40 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
69.4%
Gross profit / revenue.
Operating margin
-20.3%
Operating income / revenue.
EBITDA margin
-17.9%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-23.4%
Pre-tax income / revenue.
Net margin
-23.4%
Net income / revenue.
FCF margin
-16.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-10.7%
Cash from operations / revenue.
Return on equity (ROE)
-43.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-22.1%
Net income / average total assets.
Return on invested capital (ROIC)
-25.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
18.4%
Research and development expense / revenue.
Stock-based pay / revenue
7.9%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
6.0%
Capital expenditures / revenue.
D&A / revenue
2.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
40.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
22.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
19.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
53.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 5y
136.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
25.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
6.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
24.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
2.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
15.8%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
6.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
40.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
1,029.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.30x
Current assets / current liabilities.
Quick ratio
2.90x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.78x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.41x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
20.8%
Total debt / total assets.
Liabilities / assets
49.3%
Total liabilities / total assets.
Net debt
-$32.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$3.58
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$15.30
Revenue / diluted weighted shares.
FCF per share
-$2.55
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.64
Cash from operations / diluted weighted shares.
Book value per share
$8.19
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
5.80x
Market cap / revenue.
P/B
10.8x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
26.0x
Market cap / tangible book value, when positive.
EV/Sales
5.73x
Enterprise value / revenue.
FCF yield
-2.9%
Free cash flow / market cap.
Earnings yield
-4.0%
Net income / market cap (the inverse of P/E).
What was GeneDx Holdings Corp.'s revenue in fiscal 2025?
GeneDx Holdings Corp. reported revenue of $427.5M for fiscal 2025, 40% higher than the year before.
Was GeneDx Holdings Corp. profitable in fiscal 2025?
No. It reported a net loss of $21.0M.
How much free cash flow did GeneDx Holdings Corp. generate in fiscal 2025?
Cash from operations of $33.3M minus capital expenditures of $19.0M left free cash flow of $14.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.