EX-99.2 3 exhibit992-supplementalfin.htm EX-99.2

Exhibit 99.2

GeneDx Holdings Corp.

Unaudited Supplemental Financial Information

(in thousands, except share and per share amounts)

This unaudited supplemental financial information covers the fiscal year ended December 31, 2025 and each of the interim periods within that year and reflects (1) the reclassification of the previously separate “selling and marketing” and “general and administrative” line items into the combined “selling, general and administrative” line item, and (2) the recalculation of adjusted net income (loss) for all prior periods presented to include the adjustment for non-core lease costs. This recast of prior period financial information is not a restatement of previous financial statements and does not affect the Company’s GAAP results for any previously reported periods.

			Three months ended March 31, 2025
			As previously reported GAAP Measure						GAAP impact of change in presentation(1)						As reported GAAP Measure												As previously reported Non-GAAP Measure						Non-GAAP impact of change in presentation(1)						Non-GAAP adjustment for non-core lease costs(2)						As reported Adjusted Measure
Diagnostic test revenue			$	85,759					$	—					$	85,759											$	85,759					$	—					$	—					$	85,759
Other revenue			1,356						—						1,356												1,356						—						—						1,356
Total revenue			87,115						—						87,115												87,115						—						—						87,115
Cost of services			28,639						—						28,639												27,396						—						—						27,396
Gross profit			58,476						—						58,476												59,719						—						—						59,719
Gross margin			67.1		%										67.1		%										68.6		%																68.6		%
Research and development			12,577						—						12,577												11,758						—						—						11,758
Selling and marketing			18,316						(18,316)						—												16,529						(16,529)						—						—
General and administrative			32,134						(32,134)						—												23,980						(23,980)						—						—
Selling, general and administrative			—						50,450						50,450												—						40,509						(1,481)						39,028
(Loss) income from operations			(4,551)						—						(4,551)												7,452						—						1,481						8,933
Interest expense, net			(640)						—						(640)												—						—						—						—
Other income, net			(891)						—						(891)												239						—						—						239
Income tax expense			(447)						—						(447)												—						—						—						—
Net (loss) income			$	(6,529)					$	—					$	(6,529)											$	7,691					$	—					$	1,481					$	9,172
Basic (loss) earnings per share			$	(0.23)											$	(0.23)											$	0.27																	$	0.33
Diluted (loss) earnings per share			$	(0.23)											$	(0.23)											$	0.26																	$	0.31

			Three months ended June 30, 2025
			As previously reported GAAP Measure						GAAP impact of change in presentation(1)						As reported GAAP Measure												As previously reported Non-GAAP Measure						Non-GAAP impact of change in presentation(1)						Non-GAAP adjustment for non-core lease costs(2)						As reported Adjusted Measure
Diagnostic test revenue			$	99,823					$	277					$	100,100											$	99,823					$	277					$	—					$	100,100
Other revenue			2,869						(277)						2,592												2,869						(277)						—						2,592
Total revenue			102,692						—						102,692												102,692						—						—						102,692
Cost of services			31,790						—						31,790												30,208						—						—						30,208
Gross profit			70,902						—						70,902												72,484						—						—						72,484
Gross margin			69.0		%										69.0		%										70.6		%																70.6		%
Research and development			15,079						—						15,079												13,448						—						—						13,448
Selling and marketing			19,448						(19,448)						—												16,882						(16,882)						—						—
General and administrative			27,415						(27,415)						—												27,459						(27,459)						—						—
Selling, general and administrative			—						46,863						46,863												—						44,341						(1,405)						42,936
Income from operations			8,960						—						8,960												14,695						—						1,405						16,100
Interest expense, net			(817)						—						(817)												—						—						—						—
Other income, net			2,420						—						2,420												288						—						—						288
Income tax benefit			246						—						246												—						—						—						—
Net income			$	10,809					$	—					$	10,809											$	14,983					$	—					$	1,405					$	16,388
Basic earnings per share			$	0.38											$	0.38											$	0.52																	$	0.57
Diluted earnings per share			$	0.36											$	0.36											$	0.50																	$	0.55

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			Three months ended September 30, 2025
			As previously reported GAAP Measure						GAAP impact of change in presentation(1)						As reported GAAP Measure												As previously reported Non-GAAP Measure						Non-GAAP impact of change in presentation(1)						Non-GAAP adjustment for non-core lease costs(2)						As reported Adjusted Measure
Diagnostic test revenue			$	113,523					$	—					$	113,523											$	113,523					$	—					$	—					$	113,523
Other revenue			3,220						—						3,220												3,220						—						—						3,220
Total revenue			116,743						—						116,743												116,743						—						—						116,743
Cost of services			32,216						—						32,216												30,623						—						—						30,623
Gross profit			84,527						—						84,527												86,120						—						—						86,120
Gross margin			72.4		%										72.4		%										73.8		%																73.8		%
Research and development			19,829						—						19,829												18,034						—						—						18,034
Selling and marketing			23,510						(23,510)						—												20,366						(20,366)						—						—
General and administrative			44,439						(44,439)						—												32,809						(32,809)						—						—
Selling, general and administrative			—						67,949						67,949												—						53,175						(1,323)						51,852
(Loss) income from operations			(3,251)						—						(3,251)												14,911						—						1,323						16,234
Interest expense, net			(562)						—						(562)												—						—						—						—
Other expense, net			(3,575)						—						(3,575)												(176)						—						—						(176)
Income tax expense			(247)						—						(247)												—						—						—						—
Net (loss) income			$	(7,635)					$	—					$	(7,635)											$	14,735					$	—					$	1,323					$	16,058
Basic (loss) earnings per share			$	(0.27)											$	(0.27)											$	0.51																	$	0.56
Diluted (loss) earnings per share			$	(0.27)											$	(0.27)											$	0.49																	$	0.53

			Three months ended December 31, 2025
			As previously reported GAAP Measure						GAAP impact of change in presentation(1)						As reported GAAP Measure												As previously reported Non-GAAP Measure						Non-GAAP impact of change in presentation(1)						Non-GAAP adjustment for non-core lease costs(2)						As reported Adjusted Measure
Diagnostic test revenue			$	117,286					$	—					$	117,286											$	117,286					$	—					$	—					$	117,286
Other revenue			3,703						—						3,703												3,703						—						—						3,703
Total revenue			120,989						—						120,989												120,989						—						—						120,989
Cost of services			36,721						—						36,721												34,974						—						—						34,974
Gross profit			84,268						—						84,268												86,015						—						—						86,015
Gross margin			69.6		%										69.6		%										71.1		%																71.1		%
Research and development			24,541						—						24,541												22,256						—						—						22,256
Selling and marketing			27,131						(27,131)						—												24,137						(24,137)						—						—
General and administrative			46,831						(46,831)						—												35,383						(35,383)						—						—
Selling, general and administrative			—						73,962						73,962												—						59,520						(1,182)						58,338
(Loss) income from operations			(14,235)						—						(14,235)												4,239						—						1,182						5,421
Interest expense, net			(520)						—						(520)												—						—						—						—
Other (expense) income, net			(3,475)						—						(3,475)												161						—						—						161
Income tax benefit			564						—						564												—						—						—						—
Net (loss) income			$	(17,666)					$	—					$	(17,666)											$	4,400					$	—					$	1,182					$	5,582
Basic (loss) earnings per share			$	(0.61)											$	(0.61)											$	0.15																	$	0.19
Diluted (loss) earnings per share			$	(0.61)											$	(0.61)											$	0.14																	$	0.18

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			Year ended December 31, 2025
			As previously reported GAAP Measure						GAAP impact of change in presentation(1)						As reported GAAP Measure												As previously reported Non-GAAP Measure						Non-GAAP impact of change in presentation(1)						Non-GAAP adjustment for non-core lease costs(2)						As reported Adjusted Measure
Diagnostic test revenue			$	416,668					$	—					$	416,668											$	416,668					$	—					$	—					$	416,668
Other revenue			10,871						—						10,871												10,871						—						—						10,871
Total revenue			427,539						—						427,539												427,539						—						—						427,539
Cost of services			129,366												129,366												123,201						—						—						123,201
Gross profit			298,173						—						298,173												304,338						—						—						304,338
Gross margin			69.7		%										69.7		%										71.2		%																71.2		%
Research and development			72,026						—						72,026												65,496						—						—						65,496
Selling and marketing			88,405						(88,405)						—												77,914						(77,914)						—						—
General and administrative			150,819						(150,819)						—												119,631						(119,631)						—						—
Selling, general and administrative			—						239,224						239,224												—						197,545						(5,391)						192,154
(Loss) income from operations			(13,077)						—						(13,077)												41,297						—						5,391						46,688
Interest expense, net			(2,539)						—						(2,539)												—						—						—						—
Other (expense) income, net			(5,521)						—						(5,521)												512						—						—						512
Income tax benefit			116												116												—						—						—						—
Net (loss) income			$	(21,021)					$	—					$	(21,021)											$	41,809					$	—					$	5,391					$	47,200
Basic (loss) earnings per share			$	(0.73)											$	(0.73)											$	1.46																	$	1.65
Diluted (loss) earnings per share			$	(0.73)											$	(0.73)											$	1.40																	$	1.58

(1)Beginning with the quarter ended March 31, 2026, the Company has combined the previously separate line items for (i) selling and marketing and (ii) general and administrative into a single consolidated line item titled “selling, general and administrative” in the consolidated statements of operations and comprehensive loss. This is a change in presentation only and has no impact on the Company’s previously reported financial results for the current or any prior period.

(2)Beginning with the fiscal quarter ended March 31, 2026, the Company has modified its methodology for adjusted net income (loss), a non-GAAP financial measure, to include an adjustment for non-core lease costs. Non-core lease costs represent occupancy and related expenses associated with vacant laboratory facilities and office space in Connecticut that are no longer utilized as part of the Company’s operations.