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GeneDx Holdings (WGS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 3, 2026 · GeneDx Holdings (WGS) Q2 2026 earnings results →
Q2 2026 Revenue up 11% year over year to $114M · 16¢ of every $1 of revenue lost · operating margin -15.3%
GeneDx Holdings made $114M in Q2 2026 (+11% Y/Y): Diagnostic Test $112M, Other revenue $2.6M. Operating margin -15.3%, net loss $17.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 3, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $114.4M in Q2 2026, up 11% year over year and up 12% from the previous quarter. Patients with third-party insurance was the largest line at 83% of revenue. Patients with third-party insurance added $13.6M year over year (up 17%), 116% of the total change. Institutional customers declined 14%.
Gross margin was 68.4%, down 0.7 points from Q2 2025. Operating costs exceeded revenue by $17.5M, an operating margin of -15.3%. Operating expenses grew 54% against revenue growth of 11%. The fastest-growing cost line was Research & development (+30%). The quarter ended with a net loss of $17.7M, narrower than the previous quarter's $63.3M loss.
Operating cash flow was −$29.0M. Non-cash charges added back $6.7M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items used $24.3M. Capital expenditures of $10.1M exceeded it, leaving free cash flow of −$39.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 3, 2026 | $114M | +11% | -15.3% | −$17.7M | −$29.0M |
| Q1 2026 | 10-Q | May 4, 2026 | $102M | +17% | -56.2% | −$63.3M | −$32.4M |
| Q4 2025 | 10-K | Feb 23, 2026 | $121M | +26% | -11.8% | −$17.7M | −$3.1M |
| Q3 2025 | 10-Q | Oct 28, 2025 | $117M | +52% | -2.8% | −$7.6M | $15.8M |
| Q2 2025 | 10-Q | Jul 29, 2025 | $103M | +46% | 8.7% | $10.8M | $10.4M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $87.1M | +40% | -5.2% | −$6.5M | $10.2M |
| Q4 2024 | 10-K | Feb 20, 2025 | $95.6M | +67% | 9.2% | $5.4M | −$3.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
About GeneDx Holdings
• “Legacy GeneDx” refer to GeneDx, LLC, a Delaware limited liability company, which we acquired on April 29, 2022 (the “Acquisition”); • “Legacy Sema4” refer to Sema4 OpCo Inc., a Delaware corporation, which consummated the business combination with CM Life Sciences, Inc. (“CMLS”) on July 22, 2021 (the “Business Combination”);
In its own words, from its 10-K, filed Feb 23, 2026.
GeneDx Holdings against its Services-Health Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +13%. Operating margin: -15.3% against the peers' median 5.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WGS GeneDx Holdings | Q2 2026 | $114M | +11% | -15.3% |
| PRVA Privia Health Group | Q3 2026 | $657M | +13% | 3.1% |
| LFST LifeStance Health Group | Q3 2026 | $456M | +25% | 7.3% |
| PIII P3 Health Partners | Q2 2026 | $386M | +9% | 10.7% |
| PNTG Pennant Group | Q3 2026 | $302M | +32% | 5.5% |
| INNV InnovAge Holding | Q1 FY27 | $265M | +12% | 7.6% |
| USPH U S Physical Therapy | Q3 2026 | $223M | +13% | 11.3% |
| OMDA Omada Health | Q3 2026 | $91.3M | +34% | 5.3% |
| DCGO DocGo | Q2 2026 | $73.4M | -9% | -24.4% |
Source: GeneDx Holdings 10-Q on SEC EDGAR · CIK 1818331 · Services-Health Services
13F: who owns WGS and who is buying
More on WGS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results