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Monday, January 10, 2022

CareDx Reports Prelim Revenue Results for Fourth Quarter and Full Year 2021

 Fourth Quarter Highlights

  • Revenue expected to be between $78.6 million to $79.0 million, representing year-over-year growth of 34% to 35%

  • Testing volume greater than 41,900, including approximately 700 tests for AlloSure® Lung

  • Achieved CLIA validation of AlloMap® Kidney

  • Acquired MedActionPlan and The Transplant Pharmacy

  • Record testing volume and revenues despite lower sequential transplant procedure volumes

Full Year 2021 Highlights

  • Revenue expected to be in the range of $295.7 million to $296.1 million, representing year-over-growth of 54%

Preliminary revenue for the three months ended December 31, 2021, is expected to be between $78.6 million and $79.0 million, an increase of approximately 34% to 35% compared with $58.6 million in the fourth quarter of 2020. Testing services revenue for the quarter is expected to be between $68.2 million to $68.6 million, compared with $50.3 million in the same period in 2020. Total AlloSure and AlloMap patient results provided in the quarter were greater than 41,900, which includes approximately 700 AlloSure Lung patient results. Product revenue in the three months ended December 31, 2021, is expected to be $7.7 million, compared to $5.9 million in the same period in 2020. Digital and other revenue in the fourth quarter of 2021 is expected to be $2.7 million, compared to $2.4 million in the same period in 2020. Digital revenues include approximately $0.3 million revenue contribution from newly acquired businesses, MedActionPlan and The Transplant Pharmacy.

Preliminary revenue for the full year ended December 31, 2021, is expected to be between $295.7 million and $296.1 million, an increase of approximately 54% compared with $192.2 million in 2020. Testing services revenue for the year ended December 31, 2021, is expected to be between $258.9 million to $259.3 million, compared with $163.6 million in 2020. Product revenue for the full year 2021 is expected to be $26.8 million, compared to $19.3 million in 2020. Digital and other revenue for the full year 2021 is expected to be $10.0 million, compared to $9.3 million in 2020.

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