GeneDx Holdings Corp
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
WGS$54.83-16.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Operating activities | ||
| Net loss | $(175,767) | $(548,980) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 33,734 | 59,309 |
| Stock-based compensation expense | (326) | 41,975 |
| Change in fair value of warrants and contingent liabilities | (1,170) | (70,229) |
| Deferred tax benefit | (926) | (49,124) |
| Provision for excess and obsolete inventory | 3,913 | 1,125 |
| Third-party payor reserve release | (9,745) | — |
| Gain on sale of assets | (1,677) | — |
| Gain on debt forgiveness | (2,750) | — |
| Impairment loss | 10,402 | 210,145 |
| Other | 2,406 | 2,743 |
| Change in operating assets and liabilities, net of effects from purchase of business: | ||
| Accounts receivable | 10,263 | 5,527 |
| Inventory | 975 | 2,350 |
| Accounts payable and accrued expenses | (46,953) | 34,459 |
| Other assets and liabilities | (2,526) | (8,455) |
| Net cash used in operating activities | (180,147) | (319,155) |
| Investing activities | ||
| Consideration on escrow paid for GeneDx acquisition | (12,144) | (127,004) |
| Purchases of property and equipment | (5,250) | (7,156) |
| Proceeds from sale of assets | 4,034 | — |
| Purchases of marketable securities | (47,670) | — |
| Proceeds from maturities of marketable securities | 17,765 | — |
| Development of internal-use software assets | (461) | (7,166) |
| Net cash used in investing activities | (43,726) | (141,326) |
| Financing activities | ||
| Proceeds from PIPE issuance, net of issuance costs | — | 197,659 |
| Proceeds from offerings, net of issuance costs | 143,002 | — |
| Proceeds from long-term debt, net of issuance costs | 48,549 | — |
| Exercise of stock options | 285 | 2,948 |
| Long-term debt principal payments | (2,000) | — |
| Finance lease payoff and principal payments | (3,598) | (3,292) |
| Net cash provided by financing activities | 186,238 | 197,315 |
| Net decrease in cash, cash equivalents and restricted cash | (37,635) | (263,166) |
| Cash, cash equivalents and restricted cash, at beginning of year | 138,303 | 401,469 |
| Cash, cash equivalents and restricted cash, at end of year | $100,668 | $138,303 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $3,041 | $1,932 |
| Cash paid for taxes | $1,465 | $1,241 |
| Lease liability from obtaining right-of-use asset | $637 | $— |
| Stock consideration paid for first Milestone Payment | $6,692 | $— |
| Stock consideration paid for purchase of business | $— | $172,000 |
| Purchases of property and equipment in accounts payable and accrued expenses | $134 | $— |
| Software development costs in accounts payable and accrued expenses | $— | $461 |
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