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Friday, November 1, 2019

CareDx slides 11.9% post Q3 results

CareDx (CDNA -11.9%) reports Q3 revenue growth of 59.6% Y/Y to $33.8M.
Testing services revenue was $28.3M (+6.5% Y/Y); Product revenue was $4.2M (flat Y/Y) & Digital and other revenue was $1.4M (+1114% Y/Y).
Operating margin increased 769 bps to 66% and Adj. EBITDA margin increased 141 bps to 2.3%.
Cash and equivalents were $40.9M as of Sept. 30, 2019.
Provided 8,524 AlloSure Kidney patient results for 6,597 transplant patients.
Also, provided 4,726 AlloMap Heart patient results, increasing 16% Y/Y.
2019 Outlook: Revenue of $124-125M.
Previously: CareDx EPS beats by $0.01, beats on revenue (Oct. 31 2019)

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