Q3 2024 CareDx Inc Earnings Call Transcript
Key Points
- CareDx Inc (CDNA) reported a strong quarter with a 23% year-over-year revenue growth, reaching $82.9 million.
- The company achieved positive adjusted EBITDA of $6.9 million, surpassing their guidance of being EBITDA neutral.
- CareDx Inc (CDNA) ended the quarter with a robust balance sheet, holding $241 million in cash and cash equivalents with no debt.
- Testing services saw a 16% increase in volume, marking the fifth consecutive quarter of sequential growth.
- The company successfully expanded its gross margins and managed expenses efficiently, contributing to its positive financial performance.
- The company anticipates a 1% impact on testing volumes in Q4 due to Hurricane Milton, which has not yet been recovered.
- Despite strong growth, the guidance for 2025 indicates a slowdown to low teens revenue growth, raising concerns about sustaining current growth rates.
- Product gross margins decreased to 46% from 58% in the same quarter last year, indicating variability in production schedules.
- The company is facing ongoing legal challenges, including a jury verdict against its prior testing process, which remains under court review.
- There is uncertainty regarding the timing of new draft LCDs from Medicare, which could impact future coverage and reimbursement.
(Operator Instructions)
Good day, everyone and welcome to today's CareDx Inc third quarter, 2024 earnings conference call.
At this time. All participants are in a listen-only mode later. You will have the opportunity to ask questions during the question-and-answer session.
Please note today's call will be recorded and I will be standing by. Should you need any assistance? It is now my pleasure to turn the conference over to Greg Chodaczek Managing Director. Please go ahead, sir.
Thank you, Chloe and good afternoon. Thank you for joining us today. Earlier today, CareDx released financial results for the quarter ending September 30, 2024.
The release is currently available on the company's website at www. caredx.com. John W. Hanna, President and Chief Executive Officer and Abhishek Jain Chief Financial Officer will host this afternoon's call.
Before we get started. I would like to remind everyone that management will be making statements during this call that include
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
