Caredx, Inc. · NASDAQ:CDNA

Caredx — Q3 2026 Earnings Presentation

28 slides from Caredx's earnings presentation, Oct 29, 2026

  1. Slide 1: Q3 2026 Financial Results

    Q3 2026 Financial Results October 29, 2026

  2. 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

  3. Slide 3: Q3 2026 Business Highlights

    Q3 2026 Business Highlights (© 2026 CAREDX, INC. ALL SERVICE MARKS OR TRADEMARKS ARE OWNED OR LICENSED BY CAREDX, INC. ORITS AFFILIATES. ALL RIGHTS RESERVED.

  4. Slide 4: Our Strategy for Delivering Profitable Growth

    Our Strategy for Delivering Profitable Growth Evidence, Interoperability, and Patient Engagement Across Markets H I G H D I S EA S E BUR D EN # 1 IN MA RK E T Managed by a concentrated We address Clear leadership position group of specialty providers markets where our core competencies give us the r

  5. Slide 5: Pipeline Programs

    Pipeline Programs Programs On Track, with AlloHeme & HistoMap Kidney CLIA Readiness Expected by Year-End 2026 CE LL TH ERAP Y · AML / M DS TR A NS PL A NT · K ID NEY AlloHeme HistoMap Kidney Blood-based relapse monitoring Tissue-based molecular test for rejection subtyping St at us Planned 2027 comm

  6. Slide 6: Evidence Generation: Expanding Clinical Utility

    Evidence Generation: Expanding Clinical Utility New Evidence Evaluating NavDx at Additional Points in the Head & Neck Cancer Patient Journey Treatment Early post-treatment Surveillance AFTE R S URGER Y P RI MA RY RA D IA T IO N B EF O RE 3-M ON TH IM A GI NG ES TA B L I SH ED U S E Emory & Vanderbil

  7. Slide 7: Evidence Generation: Extending Our Leadership

    Evidence Generation: Extending Our Leadership New Banff and ASN 2026 Data Show How Molecular Testing Informs Transplant Care K O A R RE GIS TR Y · B A N F F / A S N 2 0 2 6 P ARI S TRANS P LAN T GR OUP · AS N 2 0 2 6 Identifying Risk When Biopsy Is Ambiguous Multinational Randomized Trial in 332 Kid

  8. Slide 8: Go-to-Market: NavDx Integration

    Go-to-Market: NavDx Integration First Full Quarter: Applying CareDx Capabilities to NavDx in Specialty Oncology Commercial Operational Clinical Workflow Optimization Execution Infrastructure Leveraging CareDx's Integrating NavDx into Building scalable commercial capabilities to clinical workflows op

  9. Slide 9: Go-to-Market: Solid Organ Transplant

    Go-to-Market: Solid Organ Transplant Kidney Disease Elevated on the National Agenda; Transplant Testing Volume Grew 21% YoY Q 3 E X E C UT I ON TH E S CAL E O F TH E N EED HHS Kidney Care National Plan Announced 21% 21 ~50% Transplant testing volume YoY Centers live on Epic Aura as of Of transplant

  10. Slide 10: Go-to-Market: The Patient Experience

    Go-to-Market: The Patient Experience Helping Patients Stay Informed, Engaged, and Connected to Ongoing Monitoring P A TI ENT WE B SI TE · LA U N CHE D Q 3 P A TI ENT P OR T A L · > 5 ,0 0 0 P A TI EN TS R EG IS TE R ED A home for transplant patients Direct access to AlloSure results CareDx.com/patie

  11. Slide 11: Q3 2026 Financial Highlights

    Q3 2026 Financial Highlights

  12. Slide 12: Q3 2026 Financial Highlights

    Q3 2026 Financial Highlights Strong Revenue Growth, Margin Expansion, and Profitability • Total Revenue $139M 39% 51% 74% • Testing Revenue $119M Total revenue growth YoY Testing volume growth YoY Non-GAAP Gross margin* • Testing Volume 75,900 • Revenue per Test $1,570 $30M $250M Zero • Transplant $

  13. Slide 13: Revenue Growth Driven by Higher Margin Testing

    +39% YoY Revenue Growth Driven by Higher Margin Testing Total Revenue Testing Services Patient and Digital Lab Products (Sold Q2 2026) +39% +65% +6% +19% $139 $119 $132 $100 $100 $72 +31% +5% $19 $20 $15 $12 $13 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026

  14. Slide 14: Testing Services Volume Growth

    Testing Services Volume Growth +51% YoY Testing Volume +51% +31% Volume Drivers 75,900 15,150 • Transplant grew 21% YoY (+5% Sequentially) 58,000 50,300 • Introduction of NavDx Specialty Oncology volume in Q3* (prior year volumes not included in reported results) 60,750 21% YoY 5% Seq Q3 2025 Q2 202

  15. Slide 15: Testing Services Revenue Per Test

    +9% YoY Testing Services Revenue Per Test Total Revenue Per Test1 Transplant Revenue Per Test Specialty Onc. Revenue Per Test2 Revenue Per Test Drivers +9% +22% • Transplant 80% of Q3 2026 volume mix -9% +2% • Revenue per test $1,722 $1,756 +22% YoY $1,570 $1,722 $1,436 • Specialty Oncology (new) $1

  16. Slide 16: Non-GAAP Gross Margin and Adjusted EBITDA

    Non-GAAP Gross Margin and Adjusted EBITDA $30M Non-GAAP Gross Margin* Non-GAAP Adjusted EBITDA* +3% Margin Drivers +99% Margin Drivers Flat • Cost discipline coupled +23% • +39% YoY increase in with +9% increase in revenue 74% 74% $30 71% revenue per test • +$32M YoY increase in • Out of period reve

  17. Slide 17: Updated Full Year 2026 Guidance

    +$30M Revenue Guide Updated Full Year 2026 Guidance +$23M Adj EBITDA Guide Range FY2026 Previous Updated Q4 2026 Implied Model @ Midpoint “MP” of Guide • Revenue $131-141M ($136M / +25% YoY @ MP) Revenue $490M to $500M $520 to $530M* • Testing Services revenue $112-122M ($117M@MP / 50% YoY) includin

  18. Slide 18: Increasing Revenue Guide +$30M at Midpoint

    Increasing Revenue Guide +$30M at Midpoint Implied Q4 revenue at midpoint of $136M (+25% YoY)(Range $131-141M) Prior Guidance (July) Updated Guidance (October) 2026 Guidance Range $490 to $500M ($495M Midpoint) Guidance Range $520 to $530M ($525M Midpoint) +30% +38% $495 $525 $23 Products (Sold June

  19. Slide 19: Increasing Adjusted EBITDA Guide +$23M at Midpoint

    Increasing Adjusted EBITDA Guide +$23M at Midpoint Implied Q4 adjusted EBITDA at midpoint of $21M (+223% YoY)(Range $16-26M) Prior Guidance (July) Updated Guidance (October) 2026 Guidance Range $66 to $78M ($72M Midpoint) Guidance Range $90 to $100M (Midpoint $95M) +127% +200% $72 $95 $32 $32 2025 A

  20. Slide 20: Appendix

    Appendix (© 2026 CAREDX, INC. ALL SERVICE MARKS OR TRADEMARKS ARE OWNED OR LICENSED BY CAREDX, INC. ORITS AFFILIATES. ALL RIGHTS RESERVED.

  21. Slide 21: Reconciliation of GAAP and Non-GAAP operating expenses

    Reconciliation of GAAP and Non-GAAP operating expenses (In thousands) Q3'26 Q3'25 Research and development expenses reconciliation: GAAP research and development expenses 21,324 16,769 Stock-based compensation expense (1,197) (1,146) Restructuring costs - (174) Non-GAAP research and development expe

  22. Slide 22: Reconciliation of GAAP and Non-GAAP operating expenses

    Reconciliation of GAAP and Non-GAAP operating expenses (In thousands) Q3'26 Q3'25 GAAP operating expenses: Research and development $21,324 $16,769 Sales and marketing 31,650 24,449 General and administrative 37,989 28,429 Total GAAP operating expenses $90,963 $69,647 Non-GAAP operating expenses Res

  23. Slide 23: Reconciliation of Non-GAAP Gross Margin

    Reconciliation of Non-GAAP Gross Margin (In thousands) Q3'26 Q2'26 Q3'25 GAAP total revenue $139,362 $131,948 $100,055 GAAP cost of sales 40,287 34,966 30,654 GAAP gross profit 99,075 96,982 69,401 GAAP gross margin % 71% 74% 69% Stock-based compensation expense 309 321 468 Restructuring costs - - 1

  24. Slide 24: Reconciliation of Adjusted EBITDA

    Reconciliation of Adjusted EBITDA (In thousands) Q3'26 Q2'26 Q3'25 GAAP net income $19,292 $110,636 $1,675 Gain on sale of lab products business - (112,966) - Stock-based compensation expense 9,655 10,654 8,418 Business development and portfolio optimization expense* 5,527 11,078 - Acquisition relat

  25. Slide 25: Reconciliation of Adjusted EBITDA Margin

    Reconciliation of Adjusted EBITDA Margin (In thousands) Q3'26 Q2'26 Q3'25 GAAP net income $19,292 $110,636 $1,675 GAAP net income margin 14% 84% 2% Gain on sale of lab products business - (112,966) - Stock-based compensation expense 9,655 10,654 8,418 Business development and portfolio optimization

  26. Slide 26: Reconciliation of Adjusted EBITDA – FY2025

    Reconciliation of Adjusted EBITDA – FY2025 (In thousands) FY'25 GAAP net loss $(21,354) Stock-based compensation expense 34,864 Acquisition related-amortization of purchased intangibles 6,350 Acquisition related fees and expenses 204 Change in estimated fair value of contingent consideration 703 Tax

  27. Slide 27: Net Cash Provided by Operating Activities Reconciliation to Free Cash Flow

    Net Cash Provided by Operating Activities Reconciliation to Free Cash Flow (In thousands) Q3'26 Q3'25 Net cash provided by operating activities (GAAP) $12,718 $37,358 Less: item not included in free cash flows Capital expenditures (GAAP) (1,615) (1,305) Free cash flow (non-GAAP) $11,103 $36,053 27

  28. Slide 28: Contacts

    Contacts Nina Deka INVESTOR RELATIONS investor@caredx.com Natasha Moshirian Wagner MEDIA RELATIONS nwagner@caredx.com CORPORATE HQ 8000 Marina Blvd, Brisbane, CA 94005

CareDx — Q3 2026 Earnings Presentation on 6ix