The company's financial position remains vulnerable, evidenced by a total equity contraction to $254.1M in 2026Q1 and a debt-to-equity ratio of 0.28.
| Total Current Assets | 270.63M | 268.29M | 197.97M | 182.34M | 212.62M | 483.54M | 174.11M |
| Cash & Short-Term Investments | 170.69M | 171.28M | 141.19M | 130.15M | 137.4M | 400.57M | 108.13M |
| Cash Only | 93.92M | 105M | 85.21M | 99.68M | 137.4M | 400.57M | 108.13M |
| Short-Term Investments | 76.76M | 66.28M | 55.97M | 30.47M | 0 | 0 | 0 |
| Accounts Receivable | 76.93M | 74.37M | 37.63M | 32.82M | 43.34M | 26.56M | 32.33M |
| Days Sales Outstanding | 53.65 | 63.49 | 44.97 | 59.13 | 67.41 | 45.69 | 65.81 |
| Inventory | 12.24M | 13.95M | 10.65M | 8.78M | 13.66M | 33.46M | 24.96M |
| Days Inventory Outstanding | 31.71 | 39.36 | 35 | 28.46 | 19.08 | 53.37 | 51.98 |
| Other Current Assets | 10.77M | 1.51M | 1.08M | 1.96M | 6.39M | 3.8M | 4.12M |
| Total Non-Current Assets | 235.67M | 301.9M | 221.41M | 236.42M | 332.64M | 70.55M | 77.53M |
| Property, Plant & Equipment | 84.78M | 69.11M | 58.51M | 59.38M | 84.28M | 62.72M | 63.11M |
| Fixed Asset Turnover | 6.20x | 6.19x | 5.22x | 3.41x | 2.78x | 3.38x | 2.84x |
| Goodwill | 1.64M | 13.52M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 144.97M | 168.48M | 158.6M | 172.63M | 186.65M | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 900K | 900K | 10.83M |
| Other Non-Current Assets | 4.28M | 3.32M | 4.31M | 4.41M | 6.48M | 6.93M | 3.6M |
| Total Assets | 506.3M | 570.19M | 419.38M | 418.76M | 545.26M | 554.09M | 251.64M |
| Asset Turnover | 0.87x | 0.75x | 0.73x | 0.48x | 0.43x | 0.38x | 0.71x |
| Asset Growth % | 89.39% | 35.96% | 0.15% | -23.2% | -1.59% | 120.19% | - |
| Total Current Liabilities | 87.64M | 108.91M | 54.82M | 58.82M | 144.3M | 101.28M | 73.44M |
| Accounts Payable | 0 | 2.46M | 7.95M | 10.24M | 46.02M | 44.69M | 26.74M |
| Days Payables Outstanding | 5.61 | 6.94 | 26.14 | 33.2 | 64.24 | 71.3 | 55.67 |
| Short-Term Debt | 5.13M | 8.95M | 0 | 497K | 10.87M | 3.42M | 3.51M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 40K | 473K | 1.78M |
| Other Current Liabilities | 82.51M | 67.86M | 30.42M | 30.88M | 67.08M | 52.7M | 41.42M |
| Current Ratio | 3.09x | 2.46x | 3.61x | 3.10x | 1.47x | 4.77x | 2.37x |
| Quick Ratio | 2.95x | 2.34x | 3.42x | 2.95x | 1.38x | 4.44x | 2.03x |
| Cash Conversion Cycle | 79.75 | 95.91 | 53.83 | 54.39 | 22.24 | 27.77 | 62.12 |
| Total Non-Current Liabilities | 164.54M | 153.1M | 119.32M | 131.92M | 147.26M | 64.71M | 173.81M |
| Long-Term Debt | 66.33M | 86.95M | 51.91M | 52.69M | 6.25M | 11M | 18.97M |
| Capital Lease Obligations | 172.82M | 56.05M | 60.92M | 62.94M | 60.01M | 18.43M | 20.78M |
| Deferred Tax Liabilities | 49.02M | 47.24M | 965K | 1.56M | 56.98M | 0 | 0 |
| Other Non-Current Liabilities | 98.21M | -37.14M | 5.52M | 14.73M | 24.02M | 35.28M | 134.06M |
| Total Liabilities | 252.18M | 262.01M | 174.13M | 190.74M | 291.56M | 165.99M | 247.25M |
| Total Debt | 71.46M | 151.95M | 116.17M | 119.77M | 77.13M | 32.85M | 43.26M |
| Net Debt | -22.46M | 46.95M | 30.96M | 20.09M | -60.27M | -367.72M | -64.88M |
| Debt / Equity | 0.28x | 0.49x | 0.47x | 0.53x | 0.30x | 0.08x | 9.86x |
| Debt / EBITDA | -1.56x | 11.32x | - | - | - | - | - |
| Net Debt / EBITDA | 0.49x | 3.50x | - | - | - | - | - |
| Interest Coverage | -11.13x | -7.32x | -7.66x | - | -142.66x | -85.56x | -96.55x |
| Total Equity | 254.12M | 308.18M | 245.25M | 228.02M | 253.71M | 388.1M | 4.39M |
| Equity Growth % | 110.12% | 25.66% | 7.56% | -10.13% | -34.63% | 8744.64% | - |
| Book Value per Share | 8.66 | 11.46 | 9.12 | 9.38 | 24.78 | 118.50 | 0.78 |
| Total Shareholders' Equity | 254.12M | 308.18M | 245.25M | 228.02M | 253.71M | 388.1M | 4.39M |
| Common Stock | 3K | 3K | 2K | 2K | 38K | 24K | 0 |
| Retained Earnings | -1.44B | -1.37B | -1.35B | -1.3B | -1.12B | -575.44M | -330.05M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 683K | 936K | 830K | 425K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital constraints
As reported in recent SEC filings, GeneDx's total equity has contracted from $308.2M in 2025Q4 to $254.1M in 2026Q1, reflecting a deteriorating balance sheet trajectory that underscores the company's ongoing struggle to achieve sustainable profitability while managing its significant accumulated deficit of $1.4 billion.
The consistent erosion of equity highlights the persistent impact of operating losses on the company's financial foundation. Investors should monitor whether this downward trend in net assets necessitates future dilutive financing to maintain operational continuity.
Based on the latest financial statements, the company's debt-to-equity ratio rose to 0.28 in 2026Q1 from a low of 0.39 in 2025Q3, indicating that despite recent debt reduction efforts, the firm remains reliant on external financing to bridge its ongoing operational funding gaps.
The fluctuation in debt levels suggests a reactive approach to capital management rather than a strategic deployment of leverage. The reliance on debt in the absence of positive cash flow warrants caution regarding the company's long-term solvency and refinancing flexibility.
According to quarterly balance sheet data, GeneDx's cash position declined to $93.9M in 2026Q1 from $105.0M in 2025Q4, signaling a tightening liquidity buffer that may limit the company's ability to absorb further operational shocks or unexpected regulatory compliance costs.
While the current ratio of 3.09 appears superficially healthy, the underlying cash burn suggests that the company's liquid assets are being consumed rapidly. This trend implies that the current cash runway may be shorter than the headline liquidity ratios suggest.
As indicated by historical balance sheet records, the company's goodwill has plummeted from $172.6M in 2023Q4 to just $1.6M in 2026Q1, reflecting a massive write-down of intangible assets that confirms the failure of previous acquisition-led growth strategies.
The near-total elimination of goodwill suggests that the company has effectively purged the legacy value of its past M&A activity. The remaining asset base is now heavily concentrated in PPE, which may limit the company's flexibility if the current diagnostic service model requires a pivot.
Financial disclosures reveal an accumulated deficit of $1.4 billion as of 2026Q1, which serves as a significant structural distortion that renders traditional book value metrics largely irrelevant for assessing the company's true intrinsic worth or long-term financial health.
This massive deficit indicates that the company has historically destroyed significant shareholder capital, making the current equity base highly sensitive to further losses. Investors should view the reported equity with skepticism, as it does not reflect a history of profitable reinvestment.
Quick answers to the most common questions about buying WGS stock.
As of 2025, GeneDx Holdings Corp. (WGS) had total assets of $570.2M including $268.3M in current assets.
GeneDx Holdings Corp. (WGS) carries total debt of $151.9M, offset by $171.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
GeneDx Holdings Corp. (WGS) has total shareholders' equity (book value) of $308.2M ($11.46 book value per share). Book value represents the net worth of the company belonging to common stock holders.
GeneDx Holdings Corp. (WGS) reported a current ratio of 2.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.