The earnings call presented a positive outlook with strong growth metrics and achievements, such as significant revenue growth, positive EBITDA, and resolution of legal matters. However, there were some concerns about the flat revenue growth expected in Q4 and the impact of external factors like Hurricane Milton. Overall, the positive aspects outweighed the negative, showing a strong growth trajectory for CareDx.

Company Guidance

During CareDx's Q3 2024 earnings call, substantial guidance was provided, highlighting significant financial metrics and strategic initiatives. The company reported a revenue of $82.9 million, reflecting a 23% year-over-year growth. Testing Services delivered approximately 44,600 tests, marking a 16% increase from the previous year, with revenue from this segment at $60.8 million, up 27% year-over-year. CareDx successfully expanded its gross margins, achieving a positive adjusted EBITDA of $6.9 million, surpassing their goal of being EBITDA neutral. Cash flow from operations was strong, generating $12.5 million, and the company concluded the quarter with a robust cash position of $241 million and no debt. The guidance for fiscal year 2024 was raised, with revenue expected to be between $327 million and $331 million, indicating approximately 17% growth at the midpoint. The company also outlined its strategic plan to add 30 sales and marketing team members, aimed at enhancing growth opportunities in Testing Services, alongside expanding their billing organization to drive collections and expand average selling prices (ASP).

Significant Revenue Growth

CareDx reported revenue of $82.9 million for Q3 2024, representing a 23% year-over-year growth.

Adjusted EBITDA Achievement

Positive adjusted EBITDA of $6.9 million was achieved, surpassing the neutral guidance.

Cash and Financial Position

Generated $12.5 million in cash from operations and ended the quarter with $241 million in cash and no debt.

Testing Services Expansion

Delivered approximately 44,600 tests, up 16% year-over-year, marking the fifth consecutive quarter of growth in Testing Services volumes.

Commercial and Medicare Coverage Gains

Added 4 million commercial covered lives in Q3 and Highmark Blue Cross Blue Shield issued a coverage policy for AlloSure Kidney.

Positive Resolution of Legal Matters

The DOJ closed its investigation into CareDx with no findings of wrongdoing, and a competitor dropped patent infringement claims.

Increased Guidance for 2024

Revenue guidance for fiscal year 2024 raised to $327 million to $331 million from the prior $320 million to $328 million.

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CareDx (CDNA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CDNA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2025	2024 (Q4)	-0.21 / -	-2.21	―	―	―
Nov 04, 2024	2024 (Q3)	-0.25 / -0.14	-0.43	67.44% (+0.29)
Jul 31, 2024	2024 (Q2)	-0.40 / -0.03	-0.46	93.48% (+0.43)	―
May 09, 2024	2024 (Q1)	-0.47 / -0.32	-0.44	27.27% (+0.12)	―
Feb 28, 2024	2023 (Q4)	-0.45 / -2.21	-0.34	-550.00% (-1.87)	―
Nov 08, 2023	2023 (Q3)	-0.59 / -0.43	-0.32	-34.37% (-0.11)	―
Aug 08, 2023	2023 (Q2)	-0.55 / -0.46	-0.41	-12.20% (-0.05)	―
May 10, 2023	2023 (Q1)	-0.32 / -0.44	-0.37	-18.92% (-0.07)	―
Feb 27, 2023	2022 (Q4)	-0.33 / -0.34	-0.31	-9.68% (-0.03)
Nov 03, 2022	2022 (Q3)	-0.39 / -0.32	-0.23	-39.13% (-0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CDNA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2024	$22.93	$22.90	-0.13%
Jul 31, 2024	$19.99	$23.58	+17.96%
May 09, 2024	$11.06	$14.83	+34.09%
Feb 28, 2024	$9.72	$10.64	+9.47%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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