Shares ofGeneDx Holdings Corp. (NASDAQ:WGS) rose sharply in today's pre-market trading after the company reported better-than-expected first-quarter financial results and raised its FY2024 sales guidance.

GeneDx reported quarterly losses of 33 cents per share which beat the analyst consensus estimate of losses of 67 cents. The company reported quarterly sales of $62.422 million which beat the analyst consensus estimate of $49.463 million, according to data from Benzinga Pro.

GeneDx raised its full-year 2024 revenue guidance to between $235 million and $245 million, up from $220 million to $230 million, and expanded its full-year 2024 adjusted gross margin profile to at least 60% from...