GeneDx Holdings Corp. (WGS) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - GENEDX HOLDINGS reported revenues of $70.51 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 19.72$48.71 million [2] - The company has surpassed consensus revenue estimates three times in the last four quarters [2] - The stock has increased approximately 1125.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 14.5% [3] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is -$0.19 on revenues of$60.1 million, and for the current fiscal year, it is -$0.92 on revenues of$240.9 million [5] - The estimate revisions trend for GENEDX HOLDINGS is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [12] Industry Context - The Medical Services industry, to which GENEDX HOLDINGS belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [13] - Co-Diagnostics, Inc., another company in the same industry, is expected to report revenues of $0.4 million for the quarter ended June 2024, reflecting a 100% increase from the previous year [7]