CareDx Reports Preliminary Financial Results for Third Quarter 2024

Original from: CareDx

CareDx, Inc. (Nasdaq: CDNA) — The Transplant Company™ — a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers —today reported preliminary financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Highlights

Third quarter revenue is expected to be in the range of $82 million to $83 million, an increase of approximately 23% year-over-year.

Grew Testing Services volume to approximately 44,600, an increase of approximately 16% year-over-year.

Testing services revenue is expected to be in the range of $60 million to $61 million, an increase of approximately 26% year-over-year. This includes approximately $1.2 million in revenue for tests performed in prior quarters.

Patient and Digital Solutions revenue is expected to be approximately $11.9 million, and Products is expected to be approximately $10.2 million, up 20% and 7% year-over-year, respectively.

Ended the quarter with cash, cash equivalents, and marketable securities of approximately $240 million with no debt.

The preliminary financial information presented in this press release is based on CareDx’s current expectations and may be adjusted as a result of, among other things, the completion of the quarterly review procedures of CareDx’s third quarter 2024 financial statements.

"We are pleased to report another quarter of growth across all our lines of business. Our performance continues to be strong as we head into the fourth quarter,” said John W. Hanna, CareDx President and CEO.

Upcoming Earnings Event

CareDx plans to report its third quarter 2024 financial results for the period ending September 30, 2024, on November 4, 2024, after market close. Company management will host a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time

Source: CareDx Reports Preliminary Financial Results for Third Quarter 2024