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Jun 30, 2023
CareDx Q2 2023 Earnings Report
Reported a decrease in revenue due to the impact of Medicare Billing Article revisions, but achieved milestones in Medicare approvals and TRF adoption.
Key Takeaways
CareDx reported a 13% year-over-year decrease in revenue to $70.3 million for Q2 2023, primarily due to the impact of Medicare Billing Article revisions. The company achieved key milestones, including Medicare coverage for HeartCare and AlloSure Lung. They also reached over 80% adoption of new test requisition forms ahead of schedule.
Received first multimodal MolDX approval in transplant with HeartCare for Medicare patients.
Received first donor-derived cell-free DNA (dd-cfDNA) MolDX approval for lung transplant patients with AlloSure® Lung for Medicare patients.
Revenue decreased by 13% year-over-year to $70.3 million due to Medicare Billing Article revisions.
Achieved over 80% adoption of new test requisition forms, two quarters ahead of target.
Revenue by Segment
Forward Guidance
CareDx expects revenue to be in the range of $240 to $260 million for the full year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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