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Stock impact report

CareDx stock climbs after Q3 beats, guidance boost [Seeking Alpha]

CareDx, Inc. (CDNA) 
Last caredx, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.caredxinc.com
Company Research Source: Seeking Alpha
Q3 revenue of $67.2M was well ahead of consensus, but fell 15% compared with $79.4M in the third quarter of 2022. Testing services revenue for the quarter was $47.8M, down 26.2% Y/Y. Adjusted net loss per share of $0.18 also exceeded analysts expectations. Cash burn was better than feared, owing to lower R&D and marketing spend. Adjusted operating expenses for the quarter were $57.7M, down ~$1.2M sequentially from second quarter of 2023. R&D expenses were $19M, down 14.7% Y/Y. CareDx ( CDNA ) maintained a strong balance sheet with cash, cash equivalents and marketable securities of $268.2M and no debt at quarter-end. Buoyed by Q3 results, the company raised its revenue guidance for the full year 2023 to $274M to $278M ( consensus : $255.35M) from previously announced guidance of $240M to $260M. Management noted in the earnings call , "Our goal is to be operating cash flow and adjusted EBITDA positive, and we are pleased to show demonstrable progress on this metric. We have Show less Read more
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