2024 Q3 Form 10-Q Financial Statement
#000181833124000042 Filed on July 30, 2024
Income Statement
| Concept | 2024 Q3 | 2024 Q2 | 2023 Q4 |
|---|---|---|---|
| Revenue | $76.87M | $70.51M | $57.42M |
| YoY Change | 44.22% | 44.77% | -6.41% |
| Cost Of Revenue | $29.05M | $27.56M | $26.66M |
| YoY Change | 3.57% | -7.97% | -65.67% |
| Gross Profit | $47.83M | $42.95M | $30.75M |
| YoY Change | 89.35% | 128.99% | -288.33% |
| Gross Profit Margin | 62.22% | 60.91% | 53.56% |
| Selling, General & Admin | $43.17M | $41.76M | $37.93M |
| YoY Change | 0.72% | -20.5% | -44.83% |
| % of Gross Profit | 90.26% | 97.21% | 123.34% |
| Research & Development | $11.67M | $10.90M | $11.33M |
| YoY Change | -18.36% | -36.39% | -25.57% |
| % of Gross Profit | 24.39% | 25.38% | 36.84% |
| Depreciation & Amortization | $2.422M | $1.712M | $6.094M |
| YoY Change | -53.12% | -74.92% | -82.1% |
| % of Gross Profit | 5.06% | 3.99% | 19.82% |
| Operating Expenses | $54.84M | $52.66M | $56.40M |
| YoY Change | -4.05% | -24.41% | -81.72% |
| Operating Profit | -$7.780M | -$10.58M | -$25.64M |
| YoY Change | -81.89% | -79.51% | -92.11% |
| Interest Expense | -$843.0K | -$894.0K | -$492.0K |
| YoY Change | -151.4% | -242.81% | -103.04% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$579.0K | -$18.78M | -$49.00K |
| YoY Change | -213.75% | -499.07% | |
| Pretax Income | -$8.359M | -$29.36M | -$26.18M |
| YoY Change | -80.31% | -37.41% | -91.52% |
| Income Tax | -$47.00K | -$190.0K | -$411.0K |
| % Of Pretax Income | |||
| Net Earnings | -$8.312M | -$29.17M | -$25.77M |
| YoY Change | -80.34% | -37.56% | -91.65% |
| Net Earnings / Revenue | -10.81% | -41.37% | -44.89% |
| Basic Earnings Per Share | -$0.31 | -$1.10 | |
| Diluted Earnings Per Share | -$0.31 | -$1.10 | -$0.99 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 26.94M shares | 26.14M shares | 25.88M shares |
| Diluted Shares Outstanding | 27.10M shares | 26.62M shares |
Balance Sheet
| Concept | 2024 Q3 | 2024 Q2 | 2023 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $116.5M | $106.9M | $130.1M |
| YoY Change | 1.89% | -31.81% | 5.04% |
| Cash & Equivalents | $57.89M | $56.08M | $99.68M |
| Short-Term Investments | $58.57M | $50.78M | $30.47M |
| Other Short-Term Assets | $12.62M | $11.35M | $10.60M |
| YoY Change | 151.23% | 1.35% | 65.85% |
| Inventory | $10.77M | $10.32M | $8.777M |
| Prepaid Expenses | $7.678M | $7.441M | $8.640M |
| Receivables | $38.22M | $25.50M | $32.37M |
| Other Receivables | $260.0K | $693.0K | $445.0K |
| Total Short-Term Assets | $186.0M | $162.2M | $182.3M |
| YoY Change | 8.26% | -23.96% | -14.24% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $56.39M | $56.96M | $32.48M |
| YoY Change | 57.75% | 31.46% | -36.97% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $162.1M | $165.6M | $172.6M |
| YoY Change | -7.96% | -7.81% | -7.51% |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $4.336M | $4.357M | $4.413M |
| YoY Change | -28.44% | -21.62% | -31.95% |
| Total Long-Term Assets | $222.8M | $226.9M | $236.4M |
| YoY Change | -9.22% | -13.75% | -15.06% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $186.0M | $162.2M | $182.3M |
| Total Long-Term Assets | $222.8M | $226.9M | $236.4M |
| Total Assets | $408.8M | $389.1M | $418.8M |
| YoY Change | -2.02% | -18.32% | -14.7% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $9.022M | $8.134M | $10.24M |
| YoY Change | -41.31% | -67.48% | -77.75% |
| Accrued Expenses | $11.08M | $7.293M | $12.15M |
| YoY Change | -16.87% | -56.45% | -68.72% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $1.205M | $1.100M | $497.0K |
| YoY Change | 508.59% | -89.54% | |
| Total Short-Term Liabilities | $77.34M | $68.27M | $58.82M |
| YoY Change | 13.13% | -19.08% | -59.24% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $52.03M | $52.16M | $52.69M |
| YoY Change | 759.78% | 734.56% | 743.01% |
| Other Long-Term Liabilities | $13.54M | $12.66M | $14.74M |
| YoY Change | -40.25% | -43.51% | -33.02% |
| Total Long-Term Liabilities | $65.57M | $64.82M | $67.42M |
| YoY Change | 128.39% | 126.16% | 138.67% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $77.34M | $68.27M | $58.82M |
| Total Long-Term Liabilities | $65.57M | $64.82M | $67.42M |
| Total Liabilities | $204.3M | $195.1M | $190.7M |
| YoY Change | 25.34% | 8.2% | -19.6% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$1.358B | -$1.350B | -$1.300B |
| YoY Change | 6.55% | 9.53% | 15.63% |
| Common Stock | $2.000K | $2.000K | $2.000K |
| YoY Change | 0.0% | 0.0% | -94.74% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $204.5M | $194.0M | $228.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $408.8M | $389.1M | $418.8M |
| YoY Change | -2.02% | -18.32% | -14.7% |
Cashflow Statement
| Concept | 2024 Q3 | 2024 Q2 | 2023 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$8.312M | -$29.17M | -$25.77M |
| YoY Change | -80.34% | -37.56% | -91.65% |
| Depreciation, Depletion And Amortization | $2.422M | $1.712M | $6.094M |
| YoY Change | -53.12% | -74.92% | -82.1% |
| Cash From Operating Activities | -$4.395M | -$4.505M | -$29.86M |
| YoY Change | -89.34% | -91.58% | -53.82% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $646.0K | $1.352M | $2.376M |
| YoY Change | 438.33% | -51.01% | -16.34% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$7.109M | -$21.35M | -$2.488M |
| YoY Change | -73.69% | 150.87% | |
| Cash From Investing Activities | -$7.755M | -$22.70M | -$4.864M |
| YoY Change | -71.42% | 101.43% | 71.27% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 13.97M | -391.0K | 47.10M |
| YoY Change | -1634.95% | -105.29% | 67190.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -4.395M | -4.505M | -29.86M |
| Cash From Investing Activities | -7.755M | -22.70M | -4.864M |
| Cash From Financing Activities | 13.97M | -391.0K | 47.10M |
| Net Change In Cash | 1.818M | -27.60M | 12.38M |
| YoY Change | -102.62% | -51.9% | -118.36% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$4.395M | -$4.505M | -$29.86M |
| Capital Expenditures | $646.0K | $1.352M | $2.376M |
| Free Cash Flow | -$5.041M | -$5.857M | -$32.23M |
| YoY Change | -87.81% | -89.59% | -52.25% |
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NatureOfOperations
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Organization and Description of Business <div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">GeneDx Holdings Corp., through its subsidiary GeneDx, LLC, is a leading genomics company—one that sits at the intersection of diagnostics and data science, pairing decades of genomic expertise with an ability to interpret clinical data at scale. The Company is focused on delivering personalized and actionable health insights to inform diagnosis, direct treatment and improve drug discovery. The Company believes it is well-positioned to accelerate the use of genomics and leverage large-scale clinical data to enable precision medicine as the standard of care. With a focus in pediatric and rare diseases, the Company believes it has a competitive advantage in these two areas and can deliver on its vision today. GeneDx LLC serves healthcare professionals who work with their patients and bills third-party payors across the United States.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless otherwise stated </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">herein or unless the context otherwise requires, references in these notes to</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">“GeneDx Holdings” refers to GeneDx Holdings Corp., a Delaware corporation (f/k/a Sema4 Holdings Corp. (“Sema4 Holdings”));</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">“Legacy GeneDx” refers to GeneDx, LLC, a Delaware limited liability company (formerly, GeneDx, Inc., a New Jersey corporation), which we acquired on April 29, 2022 (the “Acquisition”);</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">“Legacy Sema4” refers to Mount Sinai Genomics, Inc. d/b/a as Sema4, a Delaware corporation, which consummated the business combination with CM Life Sciences, Inc. (“CMLS”) on July 22, 2021 (the “Business Combination”); and</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">“we,” “us” and “our,” the “Company” and “GeneDx” refer, as the context requires, to:</span></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.46pt">Legacy Sema4 prior to the Business Combination, and GeneDx Holdings and its consolidated subsidiaries following the consummation of the Business Combination; and</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.46pt">Legacy GeneDx prior to the Acquisition, and GeneDx Holdings and its consolidated subsidiaries following the consummation of the Acquisition.</span></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the condensed consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. The Company bases these estimates on current facts, historical and anticipated results, trends and various other assumptions that it believes are reasonable in the circumstances, including assumptions as to future events. These estimates include, but are not limited to, the transaction price for certain contracts with customers, potential or actual claims for recoupment from third-party payors, the valuation of stock-based awards, the valuation of warrant liabilities, income taxes and intangible assets. Changes in estimates are recorded in the period in which they become known. Actual results could differ materially from those estimates, judgments and assumptions.</span></div> | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Other Risks and Uncertainties</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assesses both the self-pay patient and, if applicable, the third-party payor that reimburses the Company on the patient’s behalf when evaluating concentration of credit risk. Significant patients and payors are those that represent more than 10% of the Company’s total revenues for the period or accounts receivable balance at each respective balance sheet date. The significant concentrations of accounts receivable as of June 30, 2024 and December 31, 2023 were primarily from large managed care insurance companies, institutional billed accounts, and data arrangements. The Company does not require collateral as a means to mitigate customer credit risk.</span></div> | ||
| CY2024Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
70514000 | usd |
| CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
48706000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
132936000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
91845000 | usd | |
| CY2024Q2 | us-gaap |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
|
7200000 | usd |
| CY2023Q2 | us-gaap |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
|
3500000 | usd |
| CY2024Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
2100000 | usd |
| CY2024Q2 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P9M | |
| CY2023Q4 | us-gaap |
Capitalized Contract Cost Net
CapitalizedContractCostNet
|
0 | usd |
| CY2024Q2 | us-gaap |
Capitalized Contract Cost Net
CapitalizedContractCostNet
|
0 | usd |
| CY2024Q2 | us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
300000 | usd |
| CY2023Q2 | us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
500000 | usd |
| us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
700000 | usd | |
| us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
1100000 | usd | |
| CY2021Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
666516 | shares |
| CY2024Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
666515 | shares |
| CY2024Q2 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
| CY2024Q2 | wgs |
Class Of Warrant Or Right Target Share Price Of Warrants Or Rights For Redemption
ClassOfWarrantOrRightTargetSharePriceOfWarrantsOrRightsForRedemption
|
594.00 | |
| wgs |
Redemption Price Per Warrant
RedemptionPricePerWarrant
|
0.33 | ||
| wgs |
Number Of Days For Written Notice Of Redemption
NumberOfDaysForWrittenNoticeOfRedemption
|
30 | day | |
| wgs |
Common Stock Threshold Trading Days
CommonStockThresholdTradingDays
|
30 | day | |
| CY2024Q2 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
|
80848000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
|
78931000 | usd |
| CY2024Q2 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
|
49509000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
|
46452000 | usd |
| CY2024Q2 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
31339000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
32479000 | usd |
| CY2024Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1700000 | usd |
| CY2023Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
6800000 | usd |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3500000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
12000000.0 | usd | |
| CY2023Q2 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
3000000 | usd |
| us-gaap |
Impairment Of Leasehold
ImpairmentOfLeasehold
|
1600000 | usd | |
| CY2023Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
6826000 | usd |
| CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
196000000 | usd |
| CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
30387000 | usd |
| CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
165613000 | usd |
| CY2017Q2 | wgs |
Related Party Transaction Funding Commitment To Be Received Maximum
RelatedPartyTransactionFundingCommitmentToBeReceivedMaximum
|
55000000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
497000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
1211000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
1235000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
1260000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
51285000 | usd |
| CY2024Q2 | wgs |
Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
|
762000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
56250000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1100000 | usd |
| CY2024Q2 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
2990000 | usd |
| CY2024Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
52160000 | usd |
| CY2024Q2 | us-gaap |
Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
|
21000000 | usd |
| CY2024Q2 | wgs |
Loss Contingency Damages Awarded To Be Paid By Insurance Value
LossContingencyDamagesAwardedToBePaidByInsuranceValue
|
10000000 | usd |
| us-gaap |
Litigation Settlement Loss
LitigationSettlementLoss
|
2400000 | usd | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
156000 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-300000 | usd | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0033 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-107708000 | usd | |
| CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
26617955 | shares |
| CY2024Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
26617955 | shares |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25418358 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
26340063 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22754948 | shares | |
| CY2024Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.10 | |
| CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.84 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.88 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-4.73 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3253520 | shares | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3840803 | shares | |
| CY2024Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
200000 | usd |
| CY2023Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
1600000 | usd |
| us-gaap |
Restructuring Costs
RestructuringCosts
|
1100000 | usd | |
| us-gaap |
Restructuring Costs
RestructuringCosts
|
2300000 | usd | |
| CY2023Q3 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
50 | position |
| CY2023Q4 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
35 | position |
| CY2023Q4 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.10 | |
| CY2023Q4 | us-gaap |
Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
|
-40000000 | usd |
| CY2024Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
56076000 | usd |
| CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
99681000 | usd |
| CY2024Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
987000 | usd |
| CY2023Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
987000 | usd |
| CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
57063000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
100668000 | usd |
| CY2024Q2 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
7441000 | usd |
| CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
8640000 | usd |
| CY2024Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
11351000 | usd |
| CY2023Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1958000 | usd |
| CY2024Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
18792000 | usd |
| CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
10598000 | usd |
| CY2024Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
8134000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
10238000 | usd |
| CY2024Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
7293000 | usd |
| CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
12154000 | usd |
| CY2024Q2 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
23450000 | usd |
| CY2023Q4 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
25000 | usd |
| CY2024Q2 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
13082000 | usd |
| CY2023Q4 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
15039000 | usd |
| CY2024Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
51959000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
37456000 | usd |
| CY2024Q2 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
8156000 | usd |
| CY2023Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
12465000 | usd |
| CY2024Q2 | wgs |
Accrued Severance Current
AccruedSeveranceCurrent
|
727000 | usd |
| CY2023Q4 | wgs |
Accrued Severance Current
AccruedSeveranceCurrent
|
1853000 | usd |
| CY2024Q2 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
2214000 | usd |
| CY2023Q4 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
2018000 | usd |
| CY2024Q2 | wgs |
Warrant Liability
WarrantLiability
|
660000 | usd |
| CY2023Q4 | wgs |
Warrant Liability
WarrantLiability
|
2735000 | usd |
| CY2024Q2 | wgs |
Third Party Payor Reserve Non Current
ThirdPartyPayorReserveNonCurrent
|
12000000 | usd |
| CY2023Q4 | wgs |
Third Party Payor Reserve Non Current
ThirdPartyPayorReserveNonCurrent
|
12000000 | usd |
| CY2024Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
12660000 | usd |
| CY2023Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
14735000 | usd |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment | |
| CY2024Q2 | us-gaap |
Gross Profit
GrossProfit
|
42952000 | usd |
| CY2023Q2 | us-gaap |
Gross Profit
GrossProfit
|
18757000 | usd |
| us-gaap |
Gross Profit
GrossProfit
|
80363000 | usd | |
| us-gaap |
Gross Profit
GrossProfit
|
33993000 | usd | |
| CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false |
