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 March 31, 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 _ ...

[CareDx First Quarter 2025 Results](index=1&type=section&id=CareDx%20First%20Quarter%202025%20Results) [Financial Highlights](index=1&type=section&id=First%20Quarter%20Financial%20Highlights) CareDx reported strong Q1 2025 financial performance with 18% revenue growth to $84.7 million, achieving non-GAAP net income of $5.4 million and adjusted EBITDA of $4.6 million, and maintaining a solid $231 million cash position Q1 2025 Key Financial Metrics | Metric | Q1 2025 | Q1 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Total Revenue | $84.7M | $72.0M | +18% | | Testing Services Revenue | $61.9M | $53.8M | +15% | | GAAP Net Loss | ($10.4M) | ($19.9M) | 48% Improvement | | Non-GAAP Net Income/(Loss) | $5.4M | ($1.4M) | Significant Improvement | | Adjusted EBITDA | $4.6M | ($1.9M) | Significant Improvement | | Cash & Marketable Securities | $231M | N/A | N/A | - The company reaffirmed its full-year 2025 guidance for revenue of **$365 million to $375 million** and adjusted EBITDA of **$29 million to $33 million** and maintained its 2027 target of **$500 million** in revenue and **$100 million** in adjusted EBITDA[6](index=6&type=chunk)[10](index=10&type=chunk) [Business Highlights](index=1&type=section&id=First%20Quarter%20Business%20Highlights) CareDx achieved its seventh consecutive quarter of sequential growth in testing services volume, reaching approximately 47,100 tests, while advancing strategic initiatives for AlloSure®, AlloHeme™, and Revenue Cycle Management - Testing services volume grew to approximately **47,100**, marking the seventh consecutive quarter of sequential growth[1](index=1&type=chunk)[6](index=6&type=chunk) - Launched two expanded indications for AlloSure® Testing Services: AlloSure Heart for pediatric patients and AlloSure Kidney for simultaneous pancreas-kidney (SPK) transplant patients[6](index=6&type=chunk) - Advanced the AlloHeme™ pipeline with data presentations at the TANDEM and EBMT conferences[4](index=4&type=chunk)[6](index=6&type=chunk) - Completed the restructuring of the Revenue Cycle Management team to drive Average Selling Price (ASP) growth and launched a strategic initiative to enhance integration with EPIC AURA EMR systems[6](index=6&type=chunk) [Detailed Financial Results](index=1&type=section&id=Q1%202025%20Financial%20Results) Q1 2025 total revenue reached $84.7 million, up 18% YoY, driven by growth across all segments, significantly narrowing GAAP net loss to $10.4 million and achieving non-GAAP net income of $5.4 million Q1 Revenue Breakdown (YoY) | Revenue Segment | Q1 2025 | Q1 2024 | Growth | | :--- | :--- | :--- | :--- | | Testing Services | $61.9M | $53.8M | +15% | | Patient and Digital Solutions | $12.0M | $9.6M | +24% | | Product | $10.8M | $8.6M | +26% | | **Total Revenue** | **$84.7M** | **$72.0M** | **+18%** | - Testing Services revenue for Q1 2025 included a **$1.1 million** write-off for aged receivables, with non-GAAP adjusted testing services revenue at **$63.0 million** excluding this[5](index=5&type=chunk)[7](index=7&type=chunk) Q1 Profitability (YoY) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | GAAP Net Loss | ($10.4M) | ($19.9M) | | GAAP Net Loss per Share | ($0.19) | ($0.38) | | Non-GAAP Net Income/(Loss) | $5.4M | ($1.4M) | | Non-GAAP Diluted Net Income/(Loss) per Share | $0.09 | ($0.03) | | Adjusted EBITDA | $4.6M | ($1.9M) | [Financial Statements](index=4&type=section&id=Financial%20Statements) The financial statements detail an 18% revenue increase and reduced operating loss to $13.4 million, while the balance sheet shows stable total assets at $489.6 million and a strong equity position with no debt [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 total revenues were $84.7 million, with operating expenses of $98.1 million, resulting in a $13.4 million loss from operations and a GAAP net loss of $10.4 million, or $0.19 per share Q1 2025 Statement of Operations Highlights (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenue | $84,685 | $72,049 | | Total Operating Expenses | $98,059 | $94,615 | | Loss from Operations | ($13,374) | ($22,566) | | Net Loss | ($10,353) | ($19,888) | | Net Loss per Share (Basic & Diluted) | ($0.19) | ($0.38) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, CareDx held $230.9 million in cash and marketable securities, with total assets of $489.6 million, total liabilities of $110.3 million, and total stockholders' equity of $379.3 million, with no debt Balance Sheet Highlights (in thousands) | Line Item | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $88,745 | $114,689 | | Marketable securities | $142,172 | $145,964 | | Total Assets | $489,638 | $491,050 | | Total Liabilities | $110,289 | $112,617 | | Total Stockholders' Equity | $379,349 | $378,433 | [2025 Guidance](index=2&type=section&id=2025%20Guidance) CareDx reaffirms its full-year 2025 financial guidance, projecting total revenue between $365 million and $375 million and adjusted EBITDA between $29 million and $33 million Full-Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $365M - $375M | | Adjusted EBITDA | $29M - $33M | [Non-GAAP Financial Measures & Reconciliations](index=2&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) CareDx uses non-GAAP measures like adjusted EBITDA and non-GAAP net income to clarify core operating performance, reporting Q1 2025 non-GAAP net income of $5.4 million and adjusted EBITDA of $4.6 million - The company uses non-GAAP financial measures to assist investors in assessing operating results by excluding items like stock-based compensation, acquisition-related amortization, and litigation settlement expenses[14](index=14&type=chunk)[15](index=15&type=chunk) Reconciliation of GAAP Net Loss to Non-GAAP Net Income (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **GAAP Net Loss** | **($10,353)** | **($19,888)** | | Stock-based compensation | $8,931 | $16,573 | | Acquisition related-amortization | $1,539 | $1,653 | | Litigation settlement expense | $5,360 | $0 | | Other adjustments | $46 | $214 | | **Non-GAAP Net Income (Loss)** | **$5,424** | **($1,448)** | Reconciliation to Adjusted EBITDA (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Non-GAAP Net Income (Loss)** | **$5,424** | **($1,448)** | | Interest income | ($2,784) | ($2,885) | | Income tax expense | $157 | $19 | | Depreciation expense | $2,061 | $2,168 | | Other (income) expense, net | ($295) | $290 | | **Adjusted EBITDA** | **$4,563** | **($1,856)** |

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________________________ Form 10-K ________________________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

The Transplant Solutions Company •F E B R U A R Y 2 6 , 2 0 2 5 Click to edit Master text styles Click to edit Master title style Patrick G, Kidney Transplant Recipient Safe Harbor Statement These slides and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this presentation, i ...

CareDx, Inc (NASDAQ:CDNA) Q4 2024 Earnings Conference Call February 26, 2025 4:30 PM ET Company Participants Caroline Corner - Investor Relations John Hanna - President and Chief Executive Officer Abhishek Jain - Chief Financial Officer Conference Call Participants Mark Massaro - BTIG Bill Bonello - Craig-Hallum Andrew Cooper - Raymond James Mason Carrico - Stephens Eduardo Martinez - H.C. Wainwright Thomas DeBourcy - Nephron Research Operator Good afternoon, everyone. Welcome to the CareDx, Inc. Fourth Qua ...

CareDx (CDNA) Q4 2024 Earnings Call February 27, 2025 08:49 AM ET Company Participants Caroline Corner - Vice President of Finance and Investor RelationsJohn Hanna - President and CEOAbhishek Jain - CFOPrashant Kota - Equity Research AssociateAndrew Cooper - VP - Equity ResearchEduardo Martinez-Montes - Biotechnology Equity Research AssociateThomas DeBourcy - Principal Conference Call Participants None - AnalystMark Massaro - Managing Director - Senior Equity Research AnalystWilliam Bonello - Senior Researc ...

Core Insights - CareDx reported $86.58 million in revenue for Q4 2024, a 32% year-over-year increase, with an EPS of $0.18 compared to -$0.17 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $85.5 million by 1.26%, and the EPS surpassed the consensus estimate of $0.07 by 157.14% [1] Revenue Breakdown - Revenue from Patient and Digital Solutions was $11.39 million, exceeding the average estimate of $10.99 million by analysts, representing an 18.4% year-over-year increase [4] - Revenue from Testing Services reached $63.82 million, compared to the average estimate of $62.20 million, marking a 36.7% year-over-year increase [4] - Revenue from Products was $11.37 million, surpassing the average estimate of $10.83 million, reflecting a 23% year-over-year increase [4] Stock Performance - CareDx shares have returned -8.5% over the past month, while the Zacks S&P 500 composite has changed by -2.3% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Financial Results and Guidance - CareDx, Inc. announced preliminary financial results for Q4 and the year ended December 31, 2024[4]. - The company provided 2025 revenue guidance, details of which are included in the press release[4]. - The financial results and guidance are intended to inform stakeholders and are not deemed "filed" under the Exchange Act[5]. - The company has not disclosed specific financial figures in the provided documents[4]. Corporate Communication - The corporate presentation dated January 13, 2025, is intended to be posted on the company's website[6]. - The press release and corporate presentation are attached as Exhibits 99.1 and 99.2, respectively[9]. - The report was issued on January 13, 2025, indicating the company's commitment to timely communication with investors[12]. Company Information - CareDx, Inc. is registered under the Securities Exchange Act of 1934 and is listed on The Nasdaq Stock Market LLC with the symbol CDNA[2]. - The company is not classified as an emerging growth company under the relevant regulations[3]. - The report was signed by John W. Hanna, President and CEO of CareDx, Inc.[13].

Core Insights - CareDx (CDNA) shares increased by 11.2% to $24.91, following a significant trading volume, contrasting with a 5.2% decline over the past month [1] - The upcoming fourth-quarter 2024 financial results are anticipated to show approximately 30% year-over-year revenue growth, with testing services volume increasing by 14% [2] - The consensus EPS estimate for the quarter is $0.07, reflecting a year-over-year increase of 141.2%, with expected revenues of $85.5 million, up 30.4% from the previous year [3] Earnings and Revenue Expectations - Adjusted EBITDA is projected to be between $25 million and $26 million for the fourth quarter [2] - The consensus EPS estimate has been revised 13.2% higher in the last 30 days, indicating a positive trend that typically leads to price appreciation [4] Industry Context - CareDx is part of the Zacks Medical Services industry, which includes other companies like LifeMD, Inc. (LFMD), that saw a 5.5% increase in its last trading session [4] - LifeMD's EPS estimate remains unchanged at -$0.06, representing a 50% year-over-year change [5]

Group 1 - CareDx (CDNA) closed at $23.10, with a 1.7% gain over the past four weeks, and a mean price target of $32.86 indicating a 42.3% upside potential [1] - The average price targets range from a low of $24 to a high of $40, with a standard deviation of $6.39, suggesting variability in analyst estimates [2] - Analysts show strong agreement in revising earnings estimates higher, with a 21.9% increase in the Zacks Consensus Estimate for the current year [10][11] Group 2 - The consensus price target is often questioned for its reliability, as empirical research indicates that it rarely predicts actual stock price movements [5][6] - A low standard deviation among price targets indicates a high degree of agreement among analysts regarding the stock's price direction [7] - CDNA holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11][12]