CareDx Inc

NASDAQ:CDNAUnited States

Nov 4, 2024

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• -- Earnings Flash (CDNA) CAREDX Posts Q3 Revenue $82.9M, from 4:15PM ET on Monday Nov 04, 2024 by MT Newswires

  4:15PM ET on Monday Nov 04, 2024 by MT Newswires
  Companies Mentioned: CDNA
  04:15 PM EST, 11/04/2024 (MT Newswires) -- ...

• -- Earnings Flash (CDNA) CAREDX Posts Q3 EPS $0.14, from 4:15PM ET on Monday Nov 04, 2024 by MT Newswires

  4:15PM ET on Monday Nov 04, 2024 by MT Newswires
  Companies Mentioned: CDNA
  04:15 PM EST, 11/04/2024 (MT Newswires) -- ...

• CareDx Reports Third Quarter 2024 Results and Raises Revenue Guidance, from 4:05PM ET on Monday Nov 04, 2024 by Dow Jones

  4:05PM ET on Monday Nov 04, 2024 by Dow Jones
  Companies Mentioned: CDNA
  and charges -- -- -- (41) Other (charges) income -- (6) 22 (64) ------ ------ ------- ------- Non-GAAP general and administrative expenses $20,128 $25,421 $ 59,093 $ 68,052 ====== ====== ======= ======= Total other income (expense) reconciliation: GAAP other income, net $ 3,284 $ 5,218 $ 8,605 $ 8,520 Unrealized gain on long-term marketable equity securities -- 333 -- 1,190 Asset impairments and write-downs -- -- -- 1,000 Other charges -- (2,109) -- (2,081) ------ ------ ------- ------- Non-GAAP other income, net $ 3,284 $ 3,442 $ 8,605 $ 8,629 ====== ====== ======= ======= Income tax (expense) benefit reconciliation: GAAP income tax (expense) benefit $ (200) $ 80 $ (139) $ 24 Tax effect related to amortization of purchased intangibles (102) (98) (302) (299) ------ ------ ------- ------- Non-GAAP income tax expense $ (302) $ (18) $ (441) $ (275) ====== ====== ======= ======= CareDx, Inc. GAAP and Non-GAAP Operating Expenses (Unaudited) (In thousands) Three Months Ended Nine Months Ended September 30, September 30, ---------------------- --------------------- 2024 2023 2024 2023 ------------ -------- ----------- -------- GAAP operating expenses: Research and development $ 17,486 $ 19,000 $ 55,890 $ 63,835 Sales and marketing 19,802 18,474 60,634 63,883 General and administrative 28,515 33,968 83,104 91,368 -------- ------- ------- ------- Total GAAP operating expenses $ 65,803 $ 71,442 $ 199,628 $219,086 ======== ======= ======= ======= Non-GAAP operating expenses: Research and development $ 15,711 $ 17,509 $ 50,687 $ 58,433 Sales and marketing 16,382 14,817 49,974 51,961 General and administrative 20,128 25,421 59,093 68,052 -------- ------- ------- ------- Total Non-GAAP operating expenses $ 52,221 $ 57,747 $ 159,754 $178,446 ======== ======= ======= ======= CareDx, Inc. Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin (Unaudited) (In thousands, except percentages) Three Months Ended Nine Months Ended September September 30, 30, ------------------------- --------------------------- 2024 2023 2024 2023 ------ ------ --- ------- ------- --- Total revenue $82,883 $67,192 $247,206 $214,755 GAAP cost of sales 27,572 24,533 81,505 76,400 ------ ------ --- ------- ------- --- GAAP gross profit 55,311 42,659 165,701 138,355 Stock-based compensation expense 978 1,094 3,056 3,468 Other income -- -- (5) -- Restructuring costs -- -- 53 14 Acquisition related-amortization of purchased intangibles 918 1,002 2,916 2,997 ------ ------ --- ------- ------- --- Non-GAAP gross profit $57,207 $44,755 $171,721 $144,834 ====== ====== === ======= ======= === Non-GAAP gross margin % 69% 67% 69% 67% ====== ====== ======= ======= CareDx, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) (In thousands, except share and per share data) Three Months Ended Nine Months Ended September September 30, 30, -------------------------- ---------------------------- 2024 2023 2024 2023 ---------- ---------- ---------- ---------- GAAP net loss $ (7,408) $ (23,485) $ (25,461) $ (72,187) Stock-based compensation expense 13,694 12,671 40,208 39,125 Acquisition related-amortization of purchased intangibles 1,552 1,618 4,811 4,814 Change in estimated fair value of contingent consideration 232 1,243 761 1,731 Acquisition related fees and expenses -- 253 40 537 Other (gains) charges -- (2,109) 6 (2,081) Restructuring costs and charges -- 6 68 912 Tax effect related to amortization of purchased intangibles (102) (98) (302) (299) Asset impairments and write-downs -- -- -- 1,000 Unrealized loss on long-term marketable equity securities -- 333 -- 1,190 ---------- ---------- ---------- ---------- Non-GAAP net income (loss) $ 7,968 $ (9,568) $ 20,131 $ (25,258) ---------- ---------- ---------- ---------- GAAP basic and diluted net loss per share $ (0.14) $ (0.43) $ (0.49) $ (1.34) ========== ========== ========== ========== Non-GAAP basic net income (loss) per share $ 0.15 $ (0.18) $ 0.39 $ (0.47) ---------- ---------- ---------- ---------- Non-GAAP diluted net income (loss) per share $ 0.14 $ (0.18) $ 0.36 $ (0.47) ========== ========== ========== ========== Shares used in computing non-GAAP basic net income (loss) per share 52,903,338 54,178,759 52,266,106 53,891,374 ========== ========== ========== ========== Shares used in computing non-GAAP diluted net income (loss) per share 57,699,624 54,178,759 55,609,263 53,891,374 ========== ========== ========== ========== CareDx, Inc. Reconciliation of Non-GAAP to Adjusted EBITDA (Unaudited) (In thousands) Three Months Ended Nine Months Ended September 30, September 30, ------------------- --------------------- 2024 2023 2024 2023 ------ ------- ------ ------- Non-GAAP net income (loss) $ 7,968 $ (9,568) $20,131 $(25,258) Interest income (3,001) (3,171) (8,712) (8,708) Income tax expense (benefit) 302 (214) 441 275 Depreciation expense 1,919 2,044 6,024 5,904 Other (income) expense, net (283) (40) 107 79 ------ ------- ------ ------- Adjusted EBITDA $ 6,905 $(10,949) $17,991 $(27,708) ====== ======= ====== =======