Slide 1: Q1 2026 Financial Results
Q1 2026 Financial Results April 28, 2026
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: John Hanna, President & Chief Executive Officer
John Hanna President & Chief Executive Officer
Slide 4: CareDx's Growth Strategy
CareDx’s Growth Strategy Extend Our Leadership in Precision Medicine Diagnostics #1 in Market High Disease Burden We address markets Clear leadership position Managed by a concentrated group of specialty providers where our core competencies give us the right to win Repeat Testing Solutions-Selling
Slide 5: Pipeline Programs
Pipeline Programs Innovating to Expand Leadership Position and Enter New Markets & Grow TAM AlloHeme AlloSure Liver HistoMap Kidney Key Pipeline AlloHeme Blood-Based AlloSure Liver Blood- HistoMap Kidney Tissue- Initiatives Relapse Monitoring for Based dd-cfDNA Test for Based Molecular Test for AML
Slide 6: Go-to-Market Strategy
Go-to-Market Strategy Building Belief in Molecular Testing & Simplifying Workflow for Health Systems Resources Accelerating Two Key Go-To-Market Motions Growth in 2026 1 Heart: Inform Prognosis with SHORE Clinical Solutions Sales Differentiation Kidney: Expanded Context of Use Beyond Surveillance Lu
Slide 7: Evidence Generation
Evidence Generation Building Clinical Evidence to Strengthen Adoption and Extend Market Leadership Invest in Studies that Advance Clinically Validate Change Behavior Improve Outcome Inform Therapy the Utility of Our Products Heart Kidney Lung Liver MERIT HARBOR ALAMO MAPLE Solid Organ Therapeutic Th
Slide 8: Evidence Generation: Strong Presence at ISHLT 2026
Evidence Generation: Strong Presence at ISHLT 2026 Largest coordinated bodies of real-world, longitudinal molecular monitoring data presented at a national transplant meeting CareDx featured in: FEATURED HEART ABSTRACT Gene Expression Profiling (GEP) and Donor-Derived Cell-Free DNA (dd-cfDNA) Levels
Slide 9: Lab Products Divestiture: Strategic Rationale
Lab Products Divestiture: Strategic Rationale Sharpening Focus on Core Precision Medicine Testing Services and Patient & Digital Solutions Simplify CareDx’s Sharpen Improve Position for Operating Model Strategic Focus Financial Flexibility Continued Success Divested Global IVD Solution-Selling Strat
Slide 10: CareDx Announces Agreement to Acquire Naveris
CareDx Announces Agreement to Acquire Naveris Leading MRD Platform for Viral-Mediated Cancers Rapidly growing and reimbursed, tumor naïve MRD assay for viral-mediated cancers 130,000+ ~2,000 $1,800 $34M Commercial Tests Performed Active Ordering ADLT Medicare Reimbursement Estimated 2025 Revenue Phy
Slide 11: Naveris Differentiated TTMV DNA Technology Platform
Naveris Differentiated TTMV® DNA Technology Platform Tumor-Naïve Cancer Detection with Higher Sensitivity, Specificity and Lead Time to Recurrence Recurrence-free survival >95% 4 Months PPV/NPV for HPV+ Median lead time to Unparalleled H&N cancer detection recurrence Performance Detecting Viral-Medi
Slide 12: Viral-Driven Cancers: A Growing Specialty Oncology Market
Viral-Driven Cancers: A Growing Specialty Oncology Market Managed by Specialty Providers with Long-Term Surveillance HPV Drives a Large Share of Multiple Solid Tumors ANNUAL HPV HPV Cancer Incidence is Growing CANCER INCIDENCE Shown: Head & Neck Cancer1 Rate of New Cases Penile ~60% ~40% ~low 1000s
Slide 13: Naveris is Validated in Multiple Indications
Naveris is Validated in Multiple Indications Viral-Mediated Cancer Testing Utilized from Initial Diagnosis through MRD Surveillance Viral-Mediated Cancer Aid to Diagnosis MRD Surveillance Head & Neck Clinically Validated Medicare Covered Anal Evidence Development Medicare Covered Gynecologic Planned
Slide 14: Jeff Teuteberg, MD, Chief Medical Officer
Jeff Teuteberg, MD Chief Medical Officer
Slide 15: H&N HPV+ Cancer Patients Care Journey
H&N HPV+ Cancer Patients Longitudinal Care Journey Supported by Molecular Monitoring Aid-to-Diagnosis MRD Surveillance Critical Identify Treatment Therapeutic Relapse Monitoring Decisions Course Monitoring ENT Evaluation Surgery, Radiation, Treatment response & Serial monitoring for recurrence Chemo
Slide 16: The Only Medicare Covered Assay for HPV+ H&N and Anal Cancer MRD
The Only Medicare Covered Assay Specifically for HPV+ H&N and Anal Cancer MRD Testing Frequency Aligned to Established Guideline Recommendations for Physician Follow-Up Medicare Covered Naveris Testing as Represented with Head & Neck Cancer Surveillance Years 1-2 Years 3-4 Years 6+ Year 0 Year 1 Yea
Slide 17: John Hanna, President & Chief Executive Officer
John Hanna President & Chief Executive Officer
Slide 18: Naveris is A Multi-Billion Dollar Testing Opportunity
Naveris is A Multi-Billion Dollar Testing Opportunity Established MRD Reimbursement with Expanding Aid-To-Diagnosis Indications Viral-Mediated Cancers ~$3B ~$1.5B Aid to Diagnosis TAM MRD TAM Estimates based on CareDx management analyses of data on file. 18
Slide 19: CareDx Portfolio: Precision Medicine Testing
CareDx Portfolio: Precision Medicine Testing Multi-Indication Strategy to Accelerate Growth Indication Development Validation Launched Heart Solid Kidney Organ Transplant Lung Liver H&N Cancer Anal Cancer Specialty Gyn Cancer Oncology AML/MDS CAR-T 19
Slide 20: CareDx Portfolio TAM Across Transplant & Specialty Oncology
CareDx Portfolio TAM Across Transplant & Specialty Oncology Large, multi-year testing opportunities anchored in longitudinal care and concentrated specialty settings $12.5B Portfolio TAM $6B $1B $1B $4.5B Solid Organ Digital & Patient Cell Therapy & Viral Mediated Transplant Solutions Hematology Can
Slide 21: Keith Kennedy, Chief Financial Officer & Chief Operating Officer
Keith Kennedy Chief Financial Officer & Chief Operating Officer
Slide 22: Financial Highlights
Financial Highlights “)CareDx:
Slide 23: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Continued Revenue Growth, Margin Expansion, and Improved Profitability 39% 17% 73% Total revenue growth YoY Total volume growth YoY Non-GAAP Gross margin* • Revenue Total $118M • Testing Services $18.9M $198M Zero Revenue per Test $1660 Adjusted EBITDA* Cash at quarter-e
Slide 24: Q1 2026 Testing Services
Q1 2026 Testing Services Revenue Growth Fueled by Volume and Revenue Per Test Expansion Testing Services Revenue Testing Volume 54.9 $91.4 M 47.1 $61.9 M 48% 17% Growth YoY Growth YoY Q1 '25 Q1 '26 Q1 '25 Q1 '26 24
Slide 25: Q1 Revenue Performance
Q1 Revenue Performance Strong Growth Driven by Testing Services and Patient & Digital Solutions Total Revenue Testing Services Revenue Patient & Digital Revenue Lab Products Revenue $117.7 M $91.4 M $16.0 M $84.7 M $10.8 M $10.3 M $61.9 M $12.0 M 39% 48% 33% 4% Growth YoY Growth YoY Growth YoY Decli
Slide 26: Q1 Non-GAAP Gross Margin & Adjusted EBITDA
Q1 Non-GAAP Gross Margin & Adjusted EBITDA Non-GAAP Gross Margin* Adjusted EBITDA 68.5% 72.7% $18.9 M Drivers of improvement Drivers of improvement • Favorable mix shift with higher concentration 313% • Gross margin expansion, particularly in Testing +420 Growth YoY from Testing Services Services $4
Slide 27: Q1 Cash Collection & Free Cash Flow
Q1 Cash Collection & Free Cash Flow Cash Collection Corporate Free Cash Flow* $120.6 M $0.5 $79.2 M ($28.2) Q1’25 Q1’26 52% +29M Growth YoY Growth YoY Q1’25 Q1’26 Q1'25 *Corporate free cash flow is defined as Cash from Operations less Capital Expenditures. Refer to Net Cash Provided by Operat ing Ac
Slide 28: Updated Full Year 2026 Guidance
Updated Full Year 2026 Guidance Modeling assumptions Previous Updated • Testing services volume growth: 224k to 229k Revenue $420M to $444M $447M to $465M • Out-of-period ("OOP") testing revenue: $14M Q1, $7.5M Q2, $5M Q3, and $0 Q4 • LCD impact: ($7.5M) in 2H 2026 Adjusted EBITDA* $30M to $45M $43M
Slide 29: Testing Revenue Per Test – 2025 vs Midpoint of 2026 Guidance
Testing Revenue Per Test – 2025 vs Midpoint of 2026 Guidance Revenue per test expected to increase 10% (or 7% excluding LCD impact and OOP revenue) Revenue Per Test (2026 Shown at Midpoint of Guidance) +10% $1,517 $1,374 $118 OOP Out of Period Revenue $31 ~$27M FY26 $1,343 $1,432 +7% v. @ Midpoint)
Slide 30: Lab Products Transaction
Lab Products Transaction Financial Impact of Lab Products Divestiture Q1 2026 Revenue Mix $117.7M $10.3 M Lab Products • 91% of Q1 Revenue is Core Business Patient & Digital • <$1M Q1 Lab Products AEBITDA • Net cash proceeds estimated at closing Testing $160M (gross proceeds of $170M less $107.4 M C
Slide 31: Lab Products – 2026 Guidance and Divestiture Impact
Lab Products – 2026 Guidance and Divestiture Impact Guidance Includes Full Year Results for Products* • Transaction expected to close by end of Q3 2026 Full Year Revenue Mix (2026 Shown at Midpoint of Guidance) +20% • 2026 guidance assumes products business results: $456 $48 Products $48 M Lab Produ
Slide 32: Appendix
Appendix “)CareDx:
Slide 33: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA (In thousands) Q1'26 Q1'25 GAAP net income (loss) $2,809 $(10,353) Stock-based compensation expense 9,803 8,931 Acquisition related-amortization of purchased intangibles 1,618 1,539 Change in estimated fair value of contingent consideration - 46 Tax effect related t
Slide 34: Reconciliation of Non-GAAP Gross Margin
Reconciliation of Non-GAAP Gross Margin (In thousands) Q1'26 Q1'25 GAAP total revenue $117,700 $84,685 GAAP cost of sales 33,629 28,415 GAAP gross profit 84,071 56,270 GAAP gross margin % 71% 66% Stock-based compensation expense 488 814 Acquisition related-amortization of purchased intangibles 975 9
Slide 35: Net Cash Provided by Operating Activities Reconciliation to Free Cash Flow
Net Cash Provided by Operating Activities Reconciliation to Free Cash Flow (In thousands) Q1'26 Q1'25 Net cash provided by operating activities (GAAP) $4,334 $(26,584) Less: item not included in free cash flows Capital expenditures (GAAP) (3,819) (1,630) Free cash flow (non-GAAP) $515 $(28,214) 35
Slide 36: Reconciliation of GAAP and Non-GAAP operating expenses
Reconciliation of GAAP and Non-GAAP operating expenses (In thousands) Q1'26 Q1'25 GAAP operating expenses: Research and development $21,416 $18,524 Sales and marketing 30,373 22,991 General and administrative 31,084 28,129 Total GAAP operating expenses $82,873 $69,644 Non-GAAP operating expenses Res
Slide 37: Contacts
Contacts Caroline Corner INVESTOR RELATIONS investor@caredx.com Natasha Moshirian Wagner MEDIA RELATIONS nwagner@caredx.com CORPORATE HQ 8000 Marina Blvd, Brisbane, CA 94005