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Jun 30, 2024
CareDx Q2 2024 Earnings Report
CareDx reported strong second quarter results with revenue growth and improved profitability, and raised full year guidance.
Key Takeaways
CareDx announced a strong second quarter with significant revenue growth of 31% year-over-year, driven by growth across all business segments. The company reported a net loss of $1.4 million but a non-GAAP net income of $13.6 million, and positive adjusted EBITDA of $12.9 million. They also raised the 2024 revenue guidance to $320 to $328 million and adjusted EBITDA to a gain of $9 to $15 million.
Total revenue increased by 31% year-over-year to $92.3 million.
Testing Services volume grew by 17% year-over-year to 43,700 tests.
Reported GAAP net loss of $1.4 million, non-GAAP net income of $13.6 million, and positive adjusted EBITDA of $12.9 million.
Raised 2024 guidance for annual revenue to $320 to $328 million and adjusted EBITDA to a gain of $9 to $15 million.
Revenue by Segment
Forward Guidance
CareDx now expects full year 2024 revenue to be in the range of $320 million to $328 million, non-GAAP gross margin to be in the range of 67% to 68%, and adjusted EBITDA gain to be in the range of $9 million to $15 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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