GeneDx Holdings Corp. ( WGS ) shares are soaring after the company reported its first-quarter financial results after the bell Monday. Here's a look at the highlights. 

The Details: GeneDx ( WGS ) reported quarterly losses of 33 cents per share which beat the analyst consensus estimate of losses of 67 cents by 50.75%.

The company reported quarterly sales of $62.422 million which beat the analyst consensus estimate of $49.463 million by 26.2% and represents a 44.7% increase over sales of $43.139 million from the same period last year.

“Our strong first quarter results reflect our continued dedication to our three key organizational focuses: growing exome and genome revenue, increasing our average reimbursement rates while expanding access to testing, and meaningfully reducing our cash burn,” said Katherine Stueland, CEO of GeneDx ( WGS ).

“Our team’s successful execution in the first quarter gives us the confidence to raise full-year 2024 revenue guidance to between $235-$245 million and reiterate our expectation to reach profitability in 2025.”

Outlook:  GeneDx ( WGS ) 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 at least 50%.

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WGS Price Action: According to Benzinga Pro, GeneDx ( WGS ) shares are up 29.36% after-hours at $11 at the time of publication Monday.