GeneDx Holdings Corp. (WGS) experienced a severe 24-hour plunge of 40.22%, with the sharp decline occurring prominently in post-market trading following the release of its first-quarter financial results.

The genomics firm reported Q1 revenue of $102.3 million, which fell short of analyst estimates of approximately $113 million. Additionally, the company posted an adjusted loss per share of $0.28, missing the expected loss of $0.01. The primary catalyst for the sell-off was management's decision to significantly lower its full-year 2026 revenue guidance. The company now expects revenue in the range of $475 million to $490 million, a substantial reduction from its previous outlook of $540 million to $555 million and below the consensus estimate of around $550 million.

While the company highlighted strong volume growth in its core testing business, the combined effect of the earnings miss and the sharply reduced forecast prompted a severe negative reaction from investors, leading to the dramatic decline in share price.