CareDx Reports Strong 2024 Financial Performance

CareDx Inc ( (CDNA) ) has released its Q4 earnings. Here is a breakdown of the information CareDx Inc presented to its investors.

CareDx, Inc., based in Brisbane, California, is a precision medicine solutions company specializing in genomics-based information for transplant patients, offering testing services, products, and digital healthcare solutions. The company reported a strong financial performance for the fourth quarter and full year 2024, with a 19% increase in annual revenue, reaching $334 million. The fourth quarter alone saw a 32% revenue increase year-over-year, driven by a 37% rise in testing services revenue. CareDx also reported a significant turnaround in profitability, with a GAAP net income of $87.7 million for the fourth quarter, compared to a net loss in the same period the previous year. The company’s cash flow from operations was $21.9 million in the fourth quarter, and they ended the year with $261 million in cash and marketable securities, with no debt. Looking ahead, CareDx expects continued growth, projecting 2025 revenue between $365 million and $375 million, and adjusted EBITDA gains ranging from $29 million to $33 million, as they focus on expanding testing services and operational excellence.