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Sep 30, 2024
CareDx Q3 2024 Earnings Report
Announced strong topline growth, positive adjusted EBITDA, and raised annual guidance.
Key Takeaways
CareDx reported a strong third quarter with a 23% increase in total revenue year-over-year, reaching $82.9 million. The company achieved positive adjusted EBITDA for the second consecutive quarter and raised its full year revenue guidance to $327 to $331 million.
Total revenue increased by 23% year-over-year, reaching $82.9 million.
Testing Services volume increased by 16% year-over-year, with 44,600 tests performed.
GAAP net loss improved significantly to $7.4 million, with non-GAAP net income of $8.0 million, and positive adjusted EBITDA of $6.9 million.
Annual revenue guidance raised to $327 to $331 million and adjusted EBITDA to a gain of $18 to $22 million.
Revenue by Segment
Forward Guidance
CareDx expects full year 2024 revenue to be in the range of $327 million to $331 million, non-GAAP gross margin to be approximately 69%, and adjusted EBITDA gain to be in the range of $18 million to $22 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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