Business
CareDx Announces Fourth Quarter and Full Year 2024 Financial Results
Full Year 2024 Revenue Grew 19% to $334 Million Expects Full Year 2025 Revenue of $365 Million to $375 Million BRISBANE, Calif.--(BUSINESS WIRE)-- CareDx,
About this update from Caredx, Inc.
[{"type":"text","content":"\nFull Year 2024 Revenue Grew 19% to $334 Million\n\n\nExpects Full Year 2025 Revenue of $365 Million to $375 Million\n\n\n BRISBANE, Calif.--(BUSINESS WIRE)--\nCareDx, Inc. (Nasdaq: CDNA) today reported financial results for the fourth quarter and full year ended December 31, 2024.\n\n\nFourth Quarter Financial Highlights\n\n\n\nRevenue of $86.6 million, increased 32% year-over-year\n\n\n\nTesting services revenue of $63.8 million, increased 37% year-over-year, and testing services volume of approximately 45,500, increased 14% year-over-year\n\n\n\nGAAP net income of $87.7 million, non-GAAP net income of $10.7 million, and positive adjusted EBITDA of $9.8 million, a significant improvement from the fourth quarter 2023\n\n\n\nCash flow from operations of $21.9 million\n\n\n\nFourth Quarter Business Highlights\n\n\n\nSixth consecutive quarter of sequential testing services volume growth\n\n\n\nAlloSure® Kidney surveillance testing continued to increase in the fourth quarter\n\n\n\nSubmitted first manuscript of the Kidney Outcomes Allograft Rejection (KOAR) study for publication\n\n\n\nPublished study in the journal Transplant International shows AlloSeq cfDNA highly accurate in detecting organ transplant rejection\n\n\n\nFull Year 2024 Financial Highlights\n\n\n\nRevenue of $333.8 million, driven by testing services revenue growth of 19% year-over-year\n\n\n\nTesting services revenue of $249.4 million, increased 19% year-over-year, and testing services volume of approximately 176,000, increased 6% year-over-year\n\n\n\nPatient and digital solutions revenue of $43.6 million and product revenue of $40.8 million, representing year-over-year growth of 18% and 22%, respectively\n\n\n\nGAAP net income of $52.5 million, non-GAAP net income of $30.9 million, and positive adjusted EBITDA of $27.8 million\n\n\n\nCash flow from operations of $38 million\n\n\n\nCash, cash equivalents, and marketable securities of $261 million, with no debt, as of December 31, 2024\n\n\n\nIn February, the Board of Directors authorized a common stock repurchase program of up to $50 million of shares over a period of up to 24 months\n\n\n\n“2024 was a transformative year for CareDx, positioning the company for long-term profitable growth,” said John W. Hanna, CareDx President and CEO. “We look forward to another year of strong performance in 2025, driven by our...