GeneDx Holdings Corp.
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net loss | $(21,021) | $(52,286) | $(175,767) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization expense | 25,224 | 21,953 | 33,734 |
| Stock-based compensation expense | 32,162 | 9,138 | (326) |
| Change in fair value of financial liabilities | 1,204 | 13,370 | (1,170) |
| Provision for excess and obsolete inventory | 135 | 180 | 3,913 |
| Legal reserves | 5,560 | — | — |
| Change in third party payor reserves | 2,449 | 607 | (9,745) |
| Impairment loss | — | — | 10,402 |
| Other | 3,163 | 3,287 | (2,947) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (36,231) | (5,180) | 10,526 |
| Inventory | (3,436) | (2,585) | 975 |
| Accounts payable and accrued expenses | 12,100 | (20,524) | (49,167) |
| Other assets and liabilities | 11,970 | 3,544 | (575) |
| Net cash provided by (used in) operating activities | 33,279 | (28,496) | (180,147) |
| Investing activities | |||
| Acquisition of business, net of cash acquired | (32,856) | — | — |
| Consideration on escrow paid for Legacy GeneDx acquisition | — | — | (12,144) |
| Purchases of marketable securities | (55,676) | (66,302) | (47,670) |
| Proceeds from sales of marketable securities | 2,062 | 601 | — |
| Proceeds from maturities of marketable securities | 43,970 | 41,060 | 17,765 |
| Purchases of property and equipment | (19,017) | (5,491) | (5,250) |
| Proceeds from sales of assets | — | — | 4,034 |
| Development of internal-use software assets | — | — | (461) |
| Net cash used in investing activities | (61,517) | (30,132) | (43,726) |
| Financing activities | |||
| Proceeds from offerings, net of issuance costs | 46,704 | 46,496 | 143,002 |
| Proceeds from issuance of stock pursuant to employee stock purchase plan | 2,961 | 497 | — |
| Exercise of stock options | 2,022 | 394 | 285 |
| Long-term debt principal payments | (1,211) | (497) | (2,000) |
| Finance lease payoff and principal payments | (2,451) | (2,728) | (3,598) |
| Proceeds from long-term debt | — | — | 48,549 |
| Net cash provided by financing activities | 48,025 | 44,162 | 186,238 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 19,787 | (14,466) | (37,635) |
| Cash, cash equivalents and restricted cash, at beginning of year | 86,202 | 100,668 | 138,303 |
| Cash, cash equivalents and restricted cash, at end of year | $105,989 | $86,202 | $100,668 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for interest | $6,413 | $6,677 | $3,041 |
| Cash paid for taxes | $1,275 | $1,167 | $1,465 |
| Purchases of property and equipment in accounts payable and accrued expenses | $6,286 | $2,597 | $134 |
| Stock consideration paid pursuant to exercise of Perceptive warrant | $— | $12,586 | $— |
| Assets acquired under capital leases obligations | $— | $689 | $— |
| Issuance of common stock for first OPKO Milestone Payment | $— | $— | $6,692 |
| Lease liability from obtaining right-of-use asset | $— | $— | $637 |
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