CareDx(CDNA) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $100.1 million, representing a 21% increase year-over-year from $82.9 million in Q3 2024[5] - Testing services revenue reached $72.2 million, up 19% from $60.8 million in the same quarter last year[6] - Adjusted EBITDA for Q3 2025 was $15.3 million, compared to $6.9 million in Q3 2024[8] - GAAP net income was $1.7 million, a significant improvement from a net loss of $10.6 million in Q3 2024[7] - GAAP total revenue for Q3 2025 was $100,055,000, an increase of 20.6% compared to $82,883,000 in Q3 2024[24] - GAAP net income for Q3 2025 was $1,675,000, a significant improvement from a net loss of $10,637,000 in Q3 2024[26] - Non-GAAP gross profit for Q3 2025 was $70,939,000, up from $57,207,000 in Q3 2024, resulting in a non-GAAP gross margin of 71%[24] - The company reported a non-GAAP net income of $14,896,000 for Q3 2025, up from $7,968,000 in Q3 2024[26] - GAAP gross margin improved to 69% in Q3 2025 from 67% in Q3 2024[24] Revenue Guidance and Projections - CareDx raised its 2025 revenue guidance to a range of $372 million to $376 million, up from the previous range of $367 million to $373 million[9] Product Development and Launches - The company introduced HistoMap Kidney, a new tissue-based gene expression profiler for kidney transplant patients[4] - CareDx launched AlloSeq Tx11, a next-generation HLA typing solution to enhance transplant risk profiling[4] Cash and Financial Position - Cash, cash equivalents, and marketable securities totaled $194.2 million as of September 30, 2025, with no debt outstanding[4] Leadership Changes - The company appointed Suresh Gunasekaran and Jeff Teuteberg to its Board of Directors and as Chief Medical Officer, respectively, to strengthen its leadership[4] Operating Expenses - Total GAAP operating expenses for Q3 2025 were $69,647,000, slightly higher than $69,032,000 in Q3 2024[22] - Non-GAAP operating expenses decreased to $57,853,000 in Q3 2025 from $52,221,000 in Q3 2024[22] - Sales and marketing expenses increased to $24,449,000 in Q3 2025 from $19,802,000 in Q3 2024, reflecting increased investment in growth initiatives[22] - Research and development expenses decreased to $15,449,000 in Q3 2025 from $15,711,000 in Q3 2024, indicating a focus on efficiency[22]