Slide 1: Q2 2024 Financial and Business Presentation
Q2 2024 Financial and Business Presentation July 31, 2024 Patrick G, Kidney Transplant Recipient
Slide 2: Safe Harbor Statement
Safe Harbor Statement These slides and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of histor
Slide 3: Q2 2024 Financial and Business Highlights
Q2 2024 Financial and Business Highlights Cash flow positive, adjusted EBITDA positive • Reported total revenue of $92.3 million, an increase of 31% year-over-year. • Grew Testing Services volume to 43,700 tests, an increase of 17% year-over-year. • Reported GAAP net loss of $1.4 million, non-GAAP n
Slide 4: Business Highlights
Business Highlights é CareDx
Slide 5: Most Extensive Prospective Study of its Kind Demonstrates Clinical Value of HeartCare Over dd-cfDNA Alone
Most Extensive Prospective Study of its Kind Demonstrates Clinical Value of HeartCare Over dd-cfDNA Alone SHORE (Surveillance in HeartCare Outcomes Registry) Journal of Heart and Lung Transplantation: Study Details Key Findings Largest heart transplant study of its kind Observational, prospective st
Slide 6: HeartCare Outperforms dd-cfDNA Testing Alone in Identifying Allograft Rejection
HeartCare Outperforms dd-cfDNA Testing Alone in Identifying Allograft Rejection Test Results Paired with EMB-Proven Acute Cellular Rejection.1 9.2% HeartCare® Better Positive Identifies Acute Cellular 4.3% Rejection (ACR)1 AlloSure Heart AlloMap HeartCare AlloSure Heart Heart Dual Positive HeartCare
Slide 7: HeartCare Patients Experienced Excellent Two-Year Outcomes with Fewer Biopsies
HeartCare Patients Experienced Excellent Two-Year Outcomes with Fewer Biopsies Follow-up endomyocardial Reduction in Biopsies Over biopsy rate (EMB) following 8.8% 14.2% 22.8% 35.4% Time 2017-20211 HeartCare results.1 1 Year Post 2 Year Post Transplant Transplant AlloMap Heart -10% AlloSure Heart -4
Slide 8: Nature Medicine Publication Validates AlloView and Demonstrates Utility of AlloSure Kidney
Nature Medicine Publication Validates AlloView and Demonstrates Utility of AlloSure Kidney Paris Institute for Transplantation and Organ Nature Medicine: Key Findings Regeneration Study Details Validates AlloView AI-enabled risk prediction model Largest kidney transplant study of its kind Large-scal
Slide 9: Nature Medicine Study Shows AlloSure Kidney is Leading Indicator of Rejection
Nature Medicine Study Shows AlloSure Kidney is Leading Indicator of Rejection AlloSure dd-cfDNA Levels Elevated Prior to Biopsy Proven Monitoring with AlloSure Kidney Rejection and Declined in Response to Treatment1 Improves the Detection of All Types of Rejection1 Prior to Rejection Following Treat
Slide 10: Financial Highlights
Financial Highlights é CareDx
Slide 11: Achieved Fourth Consecutive Quarter of Testing Services Volume Growth Across All Organs
Achieved Fourth Consecutive Quarter of Testing Services Volume Growth Across All Organs +4% +2% +4% +6% +17% Year-Over-Year 49.9k 42.1k 43.7k 38.4k 39.9k 37.5k Growth in Q2 Q1 2023 1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 1. Drop in Testing Services volume from Q1 2023 to Q2 2023 due to the impact
Slide 12: Adjusted Testing Services Revenue Up Over 20% Year-Over-Year Driven by Strong Volume Growth
Adjusted Testing Services Revenue Up Over 20% Year-Over-Year Driven by Strong Volume Growth Year-Over-Year Adjusted Revenue Q2 2023 Adjusted Revenue Q2 2024 Adjusted Revenue +21% $70.9 $57.7 $53.4 $47.8 $13.2 $57.7 in millions USD $5.6 $47.8 Reported Tests Adjusted Reported Tests Adjusted Q2 2023 Q2
Slide 13: Strong Year-Over-Year Revenue Growth Across Other Businesses
Strong Year-Over-Year Revenue Growth Across Other Businesses Patient and Digital Solutions Products +19% +35% $10.7 $10.6 $9.0 $7.9 in millions USD in millions USD Q2 2023 Q2 2024 Q2 2023 Q2 2024 13
Slide 14: Revenue Growth Drives Improved Adjusted EBITDA
Revenue Growth Drives Improved Adjusted EBITDA Q2 2023 Q2 2024 $12.9 in millions USD in millions USD Reported $13.21 Adjusted -$0.3 Reported Adjusted for tests performed for tests in prior performed -$10.4 periods in prior $5.61,2 periods -$16.0 1. Adjusted for revenue associated with tests performe
Slide 15: Revenue Guidance of $324M at the Mid-Point
Revenue Guidance of $324M at the Mid-Point Driven by Topline Growth Across Businesses $324M $7 $15 $10 $278M $13 in millions USD Prior Tests performed Testing Services ASP Products Revised Guidance in prior periods1 Volume Expansion & Patient and Guidance2 May 2024 Digital Solutions 1. Revenue assoc
Slide 16: Revised 2024 Guidance
Revised 2024 Guidance Guide Assumptions May 2024 July 2024 Total Revenue $274M – $282M $320M – $328M Testing Services Testing Services • Low double-digit growth for Testing Services based on annualized • Volume to grow high teens and revenue to grow in mid twenties actual testing services revenue fo
Slide 17: CareDx - Your Partner in Transplant Care
é CareDx’ Your Partner in Transplant Care™
Slide 18: Appendix
Appendix » §CareDe an
Slide 19: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Q2 Q3 Q4 Q1 Q2 in millions USD 2023 2023 2023 2024 2024 GAAP Net Loss (25.0) (23.5) (118.1) (16.7) (1.4) Stock-based compensation expense 12.7 12.7 10.0 13.3 13.2 Unrealized loss (gain) on investments (0.1) 0.3 - - - Realized gain on investments - - (1.5) - - Acquis
Slide 20: Reconciliation of Non-GAAP Gross Margin
Reconciliation of Non-GAAP Gross Margin Q2 Q3 Q4 Q1 Q2 in millions USD (except %) 2023 2023 2023 2024 2024 Revenue 70.3 67.2 65.6 72.0 92.3 GAAP Cost of Revenue 25.9 24.5 25.8 25.9 28.0 GAAP Gross Profit 44.4 42.7 39.8 46.1 64.3 GAAP Gross Margin % 63% 64% 61% 64% 70% Non-GAAP Expense: Stock-based c