GENEDX HOLDINGS ($NASDAQ:WGS) reported their FY2023 Q2 earnings on August 8, 2023, with total revenue reaching USD 48.7 million, a 34.7% increase from the same quarter of the previous year. Unfortunately, net income was reported to be USD -46.7 million, a decline from the -85.7 million from the year prior.
Genedx Holdings reported their earnings results for FY2023 Q2 as of June 30, 2023 on Tuesday. The stock opened at $6.7 and closed at $6.6, down by 0.6% from its last closing price of $6.7. Overall, Genedx Holdings has seen positive growth in the second quarter of the fiscal year. Looking forward, Genedx Holdings is optimistic about their future growth.
The company has plans to invest in new technologies and services to increase customer satisfaction and revenue. In conclusion, Genedx Holdings continues to demonstrate strong financial performance for FY2023 Q2, with promising outlooks for the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Genedx Holdings. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Genedx Holdings. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Genedx Holdings. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Genedx Holdings are shown below. More…
Income Statement Ratios
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At GoodWhale, we analyzed GENEDX HOLDINGS‘s financials and the results were encouraging. According to our Star Chart, GENEDX HOLDINGS has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that it is likely to safely ride out any crisis without the risk of bankruptcy. We have classified GENEDX HOLDINGS as ‘rhino’, a type of company we conclude has achieved moderate revenue or earnings growth. This makes GENEDX HOLDINGS a great choice for investors looking for a steady source of income but not expecting high returns or rapid growth. Its strength lies in the stability of its cashflows and debt repayment capacity, while its medium performance in asset management and weak performance in dividend, growth, and profitability imply that there may not be significant capital appreciation potential. More…
Risk Rating Analysis
Star Chart Analysis
It has a number of competitors in the industry, including Cue Health Inc, Renalytix PLC, and HeartBeam Inc. All of these companies are dedicated to providing innovative solutions for genetic and medical diagnostics.
Cue Health Inc is a healthcare technology company that offers solutions that may help detect, diagnose, and monitor a variety of health conditions. The company provides point-of-care testing devices, software, and services to healthcare providers, payers, and employers. As of 2023, the company has a market capitalization of 119.29 million and a Return on Equity of -21.77%. This suggests that the company has not been able to generate a significant return on its investments, which may be a cause for concern for potential investors.
Renalytix PLC is a leading international biotechnology company that specializes in the development of innovative artificial intelligence-driven solutions for the early detection and management of kidney disease. The company’s market cap of 85.34M as of 2023 indicates the financial strength of the company. Additionally, their Return on Equity of -143.44% shows that they have yet to fully maximize their profits, but they are still able to provide a good return to their investors. This could indicate a positive outlook for the company, as they continue to develop and expand their product offering.
HeartBeam Inc is a technology company that provides IT infrastructure and software solutions to various businesses. As of 2023, the company has a market cap of 18.59M. This indicates that the company is valued at a premium in the market and has received a significant amount of investor interest. However, the Return on Equity (ROE) of -200.75% indicates that the company is not making a profit and is underperforming in terms of generating returns for shareholders. This could be a sign of potential financial difficulty for the company in the future.
Investors in GENEDX HOLDINGS have reason for both optimism and caution as the company reported their earnings results for FY2023 Q2. Total revenue increased by 34.7% over the same quarter of the previous year, an encouraging sign for shareholders. However, investors should keep a close eye on future filings to determine if the company can continue to increase their revenue and effectively manage their costs.