Financial Data and Key Metrics Changes - The company reported solid test volume growth in Q2, with low double digits overall and kidney testing up almost 20% [5][41] - The revenue guidance for the full year was tightened, with a midpoint of $370 million, reflecting confidence in growth despite a $5 million write-off in the first half [41][42] - The average selling price (ASP) is projected to increase to $1,400 by the end of the year, representing a 7% increase [31] Business Line Data and Key Metrics Changes - The digital solutions segment, which accounts for about 15% of revenue, has grown at a CAGR of 20% to 30% over the last three years, driven by the adoption of multiple services by transplant centers [43] - The company has successfully implemented surveillance protocols in 60 transplant centers, with significant room for growth as there are over 200 kidney transplant programs in the U.S. [9][15] Market Data and Key Metrics Changes - The company is in two-thirds of all transplant centers in the U.S., indicating a broad market presence [47] - The market access team has made significant progress in transitioning contracts to a new CPT code, which is expected to enhance revenue predictability and speed up payment processes [49][50] Company Strategy and Development Direction - The company is focused on solutions-based selling, offering a comprehensive portfolio of services to transplant centers, which has driven significant adoption of its products [6][7] - There is an ongoing strategy to convert digital solutions into a SaaS model, enhancing operational efficiency for transplant centers [47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the early stages of market adoption for their services and the positive impact of recent policy changes regarding surveillance testing coverage [3][57] - The company anticipates continued growth in kidney testing volume as more data from clinical studies supports the utility of their services [9][16] Other Important Information - The KOR study publication demonstrated that patients monitored with surveillance testing were six times more likely to detect rejection when undergoing a biopsy, reinforcing the importance of their testing services [39][40] - The company has a strong balance sheet with no debt and close to $200 million in cash, allowing for continued investment in growth initiatives [54] Q&A Session Summary Question: What are the greatest opportunities for CareDx? - Management highlighted the early stages of market adoption for their services and the importance of their role in patient care for organ transplant recipients [3] Question: How much more room is there for additional centers to adopt surveillance protocols? - There are over 200 kidney transplant programs in the U.S., with 60 currently having adopted protocols, indicating significant growth potential [9][15] Question: What impact do you expect from the new Epic system? - The company aims to have 50% of its volume coming through the Epic system by the end of next year, with expectations of increased operational efficiency [18][21] Question: Can you discuss the revenue cycle management program? - Management noted that improvements in revenue cycle management are expected to yield significant benefits over the next two years, with a focus on automation and workflow efficiency [25][28] Question: What is the status of the draft LCD and its potential impact? - The company has advocated for clearer policies on surveillance testing coverage, which could have a significant financial impact depending on the final policy outcome [32][34] Question: What is the company's capital allocation strategy? - The company has been active in buybacks and continues to invest in growth opportunities, particularly in expanding its commercial team and operational infrastructure [54][56]

Core Viewpoint - CareDx, Inc. faces uncertainty due to proposed reimbursement changes that threaten its core testing business, impacting near-term growth, while the company's expanding transplant solutions platform positions it for long-term opportunities in an $8 billion market [1][5]. Company Overview - CareDx is a provider of solutions for transplant centers, offering lab tests, transplant management services, digital administration, and pharma services, targeting a total addressable market (TAM) of $8 billion [3]. Financial Performance - In the second quarter, CareDx reported adjusted earnings of 10 cents, missing the consensus estimate of 12 cents, with sales of $86.68 million, also below the consensus of $90.56 million [4]. - The company narrowed its fiscal 2025 sales guidance from $365 million-$375 million to $367 million-$373 million, compared to the consensus of $370.79 million [4]. Analyst Insights - Analyst Andrew F. Brackmann views CareDx as a deeply undervalued company with a powerful platform, despite ongoing reimbursement challenges that raise questions about its future [2][5]. - Brackmann initiated coverage with a Market Perform rating, noting that shares trade at a 67% discount to peers based on a 2026 revenue multiple and discounted cash flow analysis suggesting a fair value closer to $20 per share [6]. Market Dynamics - The proposed local coverage decision affecting CareDx's testing services, which account for about 75% of revenue, may create modest revenue headwinds, leaving near-term forecasts unclear [5]. - CareDx has faced challenges including reimbursement issues, patent disputes, regulatory probes, and leadership changes, with potential downside from the draft LCD appearing priced in [7]. Stock Performance - CareDx's stock is currently trading higher by 1.02% to $12.88, reflecting some market optimism despite the uncertainties [8].

Group 1 - CareDx reported revenue of $86.68 million for the quarter ended June 2025, a year-over-year decline of 6.1% and an EPS of $0.10 compared to $0.25 a year ago [1] - The revenue surprise was -4.45% compared to the Zacks Consensus Estimate of $90.72 million, and the EPS surprise was -16.67% against the consensus estimate of $0.12 [1] - CareDx's shares have returned -33.3% over the past month, while the Zacks S&P 500 composite increased by +0.5% [3] Group 2 - Revenue from Patient and digital solutions was $12.81 million, exceeding the average estimate of $11.91 million, representing a year-over-year change of +19.2% [4] - Revenue from Testing services was $62.03 million, below the average estimate of $67.39 million, indicating a year-over-year decline of -12.5% [4] - Revenue from Product sales was $11.83 million, slightly above the average estimate of $11.69 million, reflecting a year-over-year increase of +11.5% [4]

CareDx (CDNA) came out with quarterly earnings of $0.1 per share, missing the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this molecular diagnostics company would post earnings of $0.06 per share when it actually produced earnings of $0.09, delivering a surprise of +50%.Over the last four quarters, t ...

Financial Data and Key Metrics Changes - Adjusted revenue for Q2 2025 was $90.5 million, representing a 14% year-over-year increase [8][26] - Adjusted EBITDA was $9.1 million, compared to an adjusted loss of $0.3 million in the previous year [8][31] - Cash collections accelerated to 105% of adjusted testing services revenue, with payment per test increasing across all tests and payer classes [22] Business Line Data and Key Metrics Changes - Adjusted testing services revenue was $66 million, up 14% year-over-year, with approximately 49,500 tests delivered, marking an 8th consecutive quarter of sequential testing volume growth [9][28] - Patient and Digital Solutions revenue was approximately $12.8 million, representing a 19% growth compared to last year [23][28] - Lab products revenue was $11.8 million, up 12% year-over-year, driven by sales of AlloSeq Tx kits [25][28] Market Data and Key Metrics Changes - Kidney testing volume grew nearly 20% year-over-year, with over 60 surveillance protocols implemented nationally [10][12] - Heart and lung testing also saw growth, although lung represents a smaller proportion of overall volume [45] - The company added 4.2 million new covered lives for AlloMap Heart, becoming an in-network provider with a large commercial health plan covering 1.2 million lives [17] Company Strategy and Development Direction - The company launched AlloSure Plus, an AI-driven diagnostic for kidney transplant monitoring, aiming to enhance clinical decision-making [11] - CareDx is focusing on expanding its market access strategy and evidence generation to support its products [15] - The company is improving its enterprise infrastructure and business processes to ensure revenue growth outpaces operating expenses [21] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed the midpoint of 2025 revenue guidance, narrowing the range to $367 million to $373 million, with expectations of mid-teens growth in test volumes [8][32] - The draft LCD policy for molecular testing is viewed as a significant step forward, affirming coverage for surveillance testing [18] - Management expressed confidence in the operational excellence initiatives and the potential impact of the draft policy on future financial expectations [21][32] Other Important Information - Abhishek Jain announced his retirement as CFO, with Nathan Smith appointed as the new CFO [35][36] - The company is implementing Epic integration to enhance testing order processes and improve results delivery [21] Q&A Session Summary Question: Discussion on the LCD and potential headwinds - Management highlighted three focus areas for public comments: frequency testing, evidence supporting heart care, and bundled payments [40] Question: Data on heart and lung test volume growth - Heart and lung testing volumes grew, with continued positive trends in transplant volumes [45] Question: Changes to the long-range plan due to the draft LCD - No updates to the long-range plan will be provided until clarity on the final LCD is achieved [50] Question: Clarification on the $30 million headwind scenario - The $30 million headwind was calculated based on the attachment rate of heart care being over 90% [52] Question: Updated split on surveillance versus for-cause testing - There is a significant shift towards surveillance testing, but specific metrics are not being disclosed [56]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-Q __________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36536 __ ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) CareDx reported **$90.5 million** adjusted revenue, a **14% YoY increase**, with **13% testing services volume growth** and **narrowed** full-year guidance Q2 2025 Key Financial Highlights | Metric | Value | | :------------------------------------ | :------------------------------------ | | Adjusted Revenue | $90.5 million (+14% YoY) | | GAAP Testing Services Revenue | $62.0 million (-13% YoY) | | Adjusted Testing Services Revenue | $65.9 million (+14% YoY) | | Testing Services Volume | 49,500 (+13% YoY) | | GAAP Net Loss | $8.6 million (vs. $4.6 million in Q2 2024) | | Non-GAAP Net Income | $5.6 million (vs. $13.6 million in Q2 2024) | | Adjusted EBITDA Gain | $9.1 million (vs. loss of $0.3 million in Q2 2024) | | Cash, Cash Equivalents & Marketable Securities | $186 million (as of June 30, 2025) | | Full-Year 2025 Revenue Guidance | $367 million to $373 million (**narrowed**) | [Recent Business Highlights](index=1&type=section&id=Recent%20Business%20Highlights) CareDx achieved **eight consecutive quarters of sequential testing volume growth** and notable advancements in transplant care solutions - **Eighth consecutive quarter** of sequential **growth** in testing services volumes[4](index=4&type=chunk) - First Kidney Allograft Outcomes AlloSure Registry ("KOAR") manuscript published in The American Journal of Transplantation[4](index=4&type=chunk) - Draft LCD **affirms** surveillance testing coverage for solid organ transplant rejection[4](index=4&type=chunk) - **Launched** Increasing Organ Transplant Access ("IOTA") tool in XynQAPI®[4](index=4&type=chunk) - **Leading presence** with **40** abstracts and **12** oral presentations at **2025** World Transplant Congress[4](index=4&type=chunk) [CEO Commentary](index=2&type=section&id=CEO%20Commentary) CEO highlighted **strong Q2 performance** with **accelerated** AlloSure kidney testing volume and **significant** adjusted EBITDA improvement - Volume **growth accelerated**, led by AlloSure kidney testing, up **nearly 20% year-over-year**[5](index=5&type=chunk) - **Improved** cash collections and financial discipline contributed to a **substantial** adjusted EBITDA **improvement**[5](index=5&type=chunk) - **Exceptional** showing at the World Transplant Congress, highlighting AlloSure Kidney as the **most significant** biomarker for detecting organ rejection[5](index=5&type=chunk) - Launch of AlloSure Plus and **differentiated** products position **CareDx as a leading** in transplant care[5](index=5&type=chunk) [Q2 2025 Detailed Financial Results](index=2&type=section&id=Q2%202025%20Detailed%20Financial%20Results) [Revenue Performance](index=2&type=section&id=Revenue%20Performance) GAAP total revenue decreased **6% YoY to $86.7 million** due to write-offs, while adjusted revenue increased **14% to $90.5 million** [Total Revenue](index=2&type=section&id=Total%20Revenue) Total Revenue (in millions) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :-------------------- | :------ | :------ | :--------- | | GAAP Total Revenue | $86.7 | $92.3 | -6% | | Adjusted Total Revenue | $90.5 | $79.1 | +14% | | Revenue from tests performed in prior periods (Q2 2025) | $3.8 (reduction) | N/A | N/A | | Revenue from tests performed in prior periods (Q2 2024) | N/A | $13.2 (recognition) | N/A | [Testing Services Revenue](index=2&type=section&id=Testing%20Services%20Revenue) Testing Services Revenue (in millions) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :---------------------------- | :------ | :------ | :--------- | | GAAP Testing Services Revenue | $62.0 | $70.9 | -13% | | Adjusted Testing Services Revenue | $65.9 | $57.7 | +14% | | Testing Services Volume | 49,500 | N/A | +13% | | AlloSure Kidney Testing Volumes | N/A | N/A | Nearly +20% | [Patient and Digital Solutions & Product Revenue](index=2&type=section&id=Patient%20and%20Digital%20Solutions%20%26%20Product%20Revenue) Other Revenue Streams (in millions) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :-------------------------------- | :------ | :------ | :--------- | | Patient and Digital Solutions Revenue | $12.8 | $10.7 | +19% | | Product Revenue | $11.8 | $10.6 | +12% | [Profitability](index=2&type=section&id=Profitability) GAAP net **loss** increased to **$8.6 million**, non-GAAP net income decreased, but adjusted EBITDA showed a **$9.1 million gain** [GAAP Net Loss](index=2&type=section&id=GAAP%20Net%20Loss) GAAP Net Loss (in millions) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------ | :------ | :------ | | GAAP Net Loss | $(8.6) | $(4.6) | | GAAP Net Loss Per Share (Basic & Diluted) | $(0.16) | $(0.09) | [Non-GAAP Net Income and Adjusted EBITDA](index=2&type=section&id=Non-GAAP%20Net%20Income%20and%20Adjusted%20EBITDA) Non-GAAP Profitability (in millions) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------------ | :------ | :------ | | Non-GAAP Net Income | $5.6 | $13.6 | | Non-GAAP Diluted Net Income Per Share | $0.10 | $0.25 | | Adjusted EBITDA Gain (excluding prior period revenue) | $9.1 | $(0.3) (loss) | [2025 Financial Guidance](index=2&type=section&id=2025%20Guidance) [Full Year 2025 Outlook](index=2&type=section&id=Full%20Year%202025%20Outlook) CareDx **narrowed** its **full-year 2025 revenue guidance to $367-$373 million** and maintained adjusted EBITDA guidance Full Year 2025 Guidance (in millions) | Metric | New Guidance | Previous Guidance | | :-------------------- | :------------- | :---------------- | | Revenue | $367 to $373 | $365 to $375 | | Adjusted EBITDA | $29 to $33 | $29 to $33 | [About CareDx – The Transplant Company](index=2&type=section&id=About%20CareDx%20%E2%80%93%20The%20Transplant%20Company) [Company Overview](index=2&type=section&id=Company%20Overview) CareDx is a **leading** precision medicine company providing genomics-based healthcare solutions for transplant patients and caregivers - **CareDx is a leading** precision medicine company focused on discovery, development, and commercialization of high-value healthcare solutions for transplant patients and caregivers[11](index=11&type=chunk) - **Offers testing services**, products, and digital healthcare solutions along the pre- and post-transplant patient journey[11](index=11&type=chunk) - **Leading provider** of genomics-based information for transplant patients[11](index=11&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward%20Looking%20Statements) [Disclaimer and Key Information](index=2&type=section&id=Disclaimer%20and%20Key%20Information) Forward-looking statements outline **2025** goals, noting potential **material differences** due to risks and uncertainties, with no obligation to update - Forward-looking statements are based on currently available information and expectations for **2025**[12](index=12&type=chunk) - **Actual results may differ materially** and adversely due to numerous unpredictable risks and uncertainties, including general economic and market factors[13](index=13&type=chunk) - CareDx **expressly disclaims any obligation** to update or revise these statements, except as required by law[13](index=13&type=chunk) - Recent developments mentioned include the launch of AlloSure® Plus, an AI-driven diagnostic platform, and the initiation of multiple customer pilots for the EPIC environment[12](index=12&type=chunk) [Use of Non-GAAP Financial Measures](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) [Explanation and Definitions](index=3&type=section&id=Explanation%20and%20Definitions) CareDx uses non-GAAP measures like adjusted revenue, net income, and EBITDA to provide insights into core business performance, not as GAAP substitutes - **Non-GAAP financial measures are presented** to assist investors in assessing operating results through management's eyes and for comparing core business performance[16](index=16&type=chunk) - Non-GAAP net income (**loss**) excludes stock-based compensation, acquisition-related amortization, litigation settlement expense, transformational initiative costs, and other charges[15](index=15&type=chunk) - Adjusted revenue excludes the impact of revenue from tests performed in prior periods[15](index=15&type=chunk) - Adjusted EBITDA is defined as non-GAAP net income (**loss**) before interest income, income tax, depreciation, other (income) expense, net, and revenue from tests performed in prior periods[15](index=15&type=chunk) - Non-GAAP measures are **not meant to be considered superior to or a substitute** for financial measures calculated in accordance with GAAP[14](index=14&type=chunk) [GAAP to Non-GAAP Reconciliations](index=6&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) Detailed reconciliations between GAAP and non-GAAP financial measures are provided for key line items for Q2 **2025** and **2024** [Cost of Sales and Operating Expenses Reconciliation](index=6&type=section&id=Cost%20of%20Sales%20and%20Operating%20Expenses%20Reconciliation) Q2 2025 GAAP to Non-GAAP Cost of Sales and Operating Expenses (in thousands) | Metric | GAAP | Non-GAAP | Key Adjustments (e.g., Stock-based comp) | | :------------------------------------ | :----- | :------- | :----------------------------------- | | Cost of testing services | $15,406 | $14,731 | $(329) | | Cost of product | $4,981 | $4,267 | $(108) | | Cost of patient and digital solutions | $8,271 | $7,755 | $(189) | | Research and development expenses | $16,830 | $15,423 | $(1,407) | | Sales and marketing expenses | $24,279 | $21,497 | $(2,146) | | General and administrative expenses | $28,033 | $19,828 | $(5,245) | | Total GAAP operating expenses | $69,142 | N/A | N/A | | Total Non-GAAP operating expenses | N/A | $56,748 | N/A | [Gross Profit and Gross Margin Reconciliation](index=9&type=section&id=Gross%20Profit%20and%20Gross%20Margin%20Reconciliation) Q2 2025 GAAP to Non-GAAP Gross Profit and Gross Margin (in thousands, except percentages) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------ | :------ | :------ | | GAAP Gross Profit | $58,021 | $64,275 | | GAAP Gross Margin % | 67% | 70% | | Non-GAAP Gross Profit | $59,926 | $66,238 | | Non-GAAP Gross Margin % | 69% | 72% | | Q2 2025 Adjustments: Stock-based compensation expense | $626 | N/A | | Q2 2025 Adjustments: Restructuring costs | $338 | N/A | | Q2 2025 Adjustments: Acquisition related-amortization | $941 | N/A | [Adjusted Revenue Reconciliations](index=10&type=section&id=Adjusted%20Revenue%20Reconciliations) Q2 2025 GAAP to Non-GAAP Adjusted Revenue (in thousands) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------ | :------ | :------ | | GAAP Total Revenue | $86,679 | $92,274 | | Revenue from tests performed in prior periods (Q2 2025) | $3,827 (reduction) | N/A | | Revenue from tests performed in prior periods (Q2 2024) | N/A | $(13,214) (recognition) | | Adjusted Total Revenue (Non-GAAP) | $90,506 | $79,060 | | GAAP Testing Services Revenue | $62,033 | $70,918 | | Adjusted Testing Services Revenue (Non-GAAP) | $65,860 | $57,704 | [Net Income and EPS Reconciliation](index=12&type=section&id=Net%20Income%20and%20EPS%20Reconciliation) Q2 2025 GAAP to Non-GAAP Net Income and EPS (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------ | :------ | :------ | | GAAP Net Loss | $(8,568) | $(4,623) | | Stock-based compensation expense | $9,424 | $16,399 | | Acquisition related-amortization of purchased intangibles | $1,589 | $1,606 | | Transformational initiative costs | $1,871 | $0 | | Non-GAAP Net Income | $5,622 | $13,611 | | GAAP Basic and Diluted Net Loss Per Share | $(0.16) | $(0.09) | | Non-GAAP Basic Net Income Per Share | $0.10 | $0.26 | | Non-GAAP Diluted Net Income Per Share | $0.10 | $0.25 | [Adjusted EBITDA Reconciliation](index=14&type=section&id=Adjusted%20EBITDA%20Reconciliation) Q2 2025 Non-GAAP to Adjusted EBITDA (in thousands) | Metric | Q2 2025 | Q2 2024 | | :------------------------------------------ | :------ | :------ | | Non-GAAP Net Income | $5,622 | $13,611 | | Interest income | $(2,364) | $(2,826) | | Income tax (benefit) expense | $(8) | $121 | | Depreciation expense | $2,132 | $1,937 | | Other (income) expense, net | $(72) | $100 | | Adjusted EBITDA (before prior period revenue) | $5,310 | $12,943 | | Revenue from tests performed in prior periods | $3,827 | $(13,214) | | Adjusted EBITDA (after prior period revenue) | $9,137 | $(271) | [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Unaudited consolidated statements of operations show total revenue decreased to **$86.7 million**, resulting in an **$8.6 million net loss** in Q2 **2025** Condensed Consolidated Statements of Operations (Three Months Ended June 30, in thousands) | Metric | 2025 | 2024 | | :---------------------------------- | :----- | :----- | | Testing services revenue | $62,033 | $70,918 | | Product revenue | $11,833 | $10,610 | | Patient and digital solutions revenue | $12,813 | $10,746 | | Total revenue | $86,679 | $92,274 | | Total operating expenses | $97,800 | $99,601 | | Loss from operations | $(11,121) | $(7,327) | | Net loss | $(8,568) | $(4,623) | | Basic and Diluted Net loss per share | $(0.16) | $(0.09) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Unaudited consolidated balance sheets show total assets decreased to **$444.3 million**, driven by reduced cash and marketable securities Condensed Consolidated Balance Sheets (As of, in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $68,212 | $114,689 | | Marketable securities | $118,043 | $145,964 | | Total current assets | $307,296 | $351,832 | | Total assets | $444,257 | $491,050 | | Total current liabilities | $93,180 | $89,371 | | Total liabilities | $116,887 | $112,617 | | Total stockholders' equity | $327,370 | $378,433 | [Contact Information](index=14&type=section&id=Contact%20Information) [Media and Investor Relations](index=14&type=section&id=Media%20and%20Investor%20Relations) This section provides contact details for CareDx's Media Relations and Investor Relations departments - Media Relations Contact: Natasha Wagner (nwagner@CareDx.com)[34](index=34&type=chunk) - Investor Relations Contact: Caroline Corner (investor@CareDx.com)[34](index=34&type=chunk)

CareDx (CDNA) shares soared 7% in the last trading session to close at $12.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 37.4% loss over the past four weeks. For Sonida Senior Living, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.78. This represents a change of +9.3% from what the company reported a year ago. Sonida Senior Living currently has a Zacks Rank of #3 (Hold). ...

Business Overview - CareDx is focused on a $6B+ market opportunity in transplant care[20, 29] - The company's mission is to improve long-term outcomes by providing innovative solutions throughout the entire transplant patient journey[19] - Over 70% of organ transplant centers use one or more of CareDx's digital patient journey solutions[63] Financial Performance - Full year 2023 revenue reached $280.3M, exceeding the high end of updated guidance[77] - Testing Services revenue for 2023 was $209.7M with approximately 165,700 patient results[77] - Patient and Digital Solutions revenue grew by 29% year-over-year to $37.1M in 2023[77] - Product revenue increased by 15% year-over-year to $33.5M in 2023[77] - The company repurchased 2.9 million shares for $27.5 million in 2023[77] - CareDx ended 2023 with approximately $235.4M in cash and marketable securities and no debt[77] Future Outlook - 2024 revenue guidance is set at $260M to $274M[101] - Non-GAAP operating expenses are projected to be between $207M and $215M in 2024[101]

Financial Performance & Growth - CareDx reported Q1 2025 revenue of $84.7 million, an 18% increase year-over-year[18] - Testing volume in Q1 2025 reached approximately 47100, a 12% increase year-over-year[18] - The company's non-GAAP gross margin for Q1 2025 was 685%, a 150 basis points increase[18] - Adjusted EBITDA for Q1 2025 was positive $4.6 million, a $6.4 million increase year-over-year[18] - CareDx is targeting a 15% 3-year revenue Compound Annual Growth Rate (CAGR) and aims for $500 million in revenue by 2027[61] - The company is aiming for a gross margin target of >70% and an adjusted EBITDA target of 20% by 2027[61] Market Position & Strategy - CareDx estimates the transplant services market to be a $50 billion market[24] - The company has performed approximately 1 million rejection monitoring tests[24] - Accounts with 3 or more CareDx solutions have 2x higher average patient acquisition and 2x the testing services revenue[34] Innovation & Pipeline - CareDx is expanding into cell therapy monitoring with products like AlloCell and AlloHeme[48, 55] - The company is launching new diagnostics, including HistoMap Kidney, AlloSure SPK, and AlloSure Heart PEDS[41]