Test volume is growing strongly.
The business has become profitable.
The opportunity is massive.
The company is just getting started.
GeneDX is the market leader in an area of medicine with huge potential.
2024 was a remarkable year for GeneDx across all metrics. We cemented and extended our position as the market leader in the exome and genome testing, expanded patient access, solidified our operating processes across all aspects of the business, and started to generate cash to fuel the next leg of growth.
Our fourth quarter results surpassed expectations with revenues exceeding $95m and gross margins expanding to 70pc. While providing early and precise genetic diagnoses remains our purpose, creating a financially strong business drives our progress. We are dedicated to helping as many patients as possible, and it’s not just about what we do, but how we do it in service of our customers with clinical excellence, urgency, and integrity.
Our flagship exome and genome business delivered enormous growth in 2024, and we’re bringing our focused operational discipline and commitment to profitable growth with us into 2025. In the coming year, we’ll be layering on additional investments into growth, scale, innovation and talent to add velocity to our market development. Fueled by our 2024 and early 2025 momentum, we’re setting guidance for 2025 to a range of $350m to $360m in revenue, with at least 30pc growth in exome and genome volume and revenue.
Katherine Stueland, CEO, GeneDX, Q4 2024, 18 February 2025
With a large market opportunity in hand, it’s important to understand that not all exome and genome tests are created equal. There’s a reason 8 out of 10 clinicians who order exome testing choose GeneDx. Fueled by more than 750,000 exomes and genomes, our rapidly growing data asset and clinical expertise differentiate our products from competitors by enabling us to identify novel gene disease connections that are not widely available and ensuring we can offer the clinical utility, accuracy, and easy to understand reports that clinicians need.
As we set our sights on offering these services to pediatricians, neurologists, cardiologists, and more specialists in the future, we’ve recruited some of the best product talent to deliver the smoothest end to end customer experience. Throughout 2025, we’ll be releasing a steady stream of new features designed to further simplify our customer experience to make it the easiest to use for all.
Katherine Stueland, CEO, GeneDX, Q4 2024, 18 February 2025
Only scratched the surface of the outpatient segment’s potential.
In the outpatient setting, pediatric neurology proved successful, driving most of the growth in 2024. We’ve only scratched the surface of the outpatient segment’s potential with a focus on patients with epilepsy, autism and intellectual and developmental delay. There are countless applications still to come in 2025. We’ll be leaning into new patient populations. Cerebral palsy and hearing loss are just two such examples we’ll target as we expand our footprint.
Katherine Stueland, CEO, GeneDX, Q4 2024, 18 February 2025
The global opportunity is off the scale with rare diseases affecting over 300m people worldwide. Not so rare, it seems.
Longer-term, we will extend our market leadership to the genomic newborn screening market. In total, pediatric testing is a $25bn market. And while we’ve made progress, this opportunity remains largely untapped with multiple levers for growth ahead. While rare diseases affect one in ten Americans, they also affect over 300m people worldwide. We will strategically target opportunities outside the U.S. to meet the incredible need for testing on a broader scale.
All of this is underpinned by our ability to provide valuable products and services to biopharma, leveraging our unique data asset to enable faster, cheaper and more-effective therapeutic development, all in service of expediting therapies to market for patients. We’re in a privileged position to be in a market leader with the product, quality, scale, talent and commercial strategy to transform the standard-of-care and win in an ever expanding market. The opportunity ahead is ours for the taking and we’re moving quickly and decisively to claim it.
Katherine Stueland, CEO, GeneDX, Q4 2024, 18 February 2025
Share Recommendations
GeneDX WGS
There are some phenomenally exciting shares on the US market and this is one of them. The chart could hardly be stronger with a fresh breakout from a tight three-month consolidation.
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