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Earnings Call Summary | CareDx(CDNA.US) Q1 2024 Earnings Conference

Futu News ·  May 10 22:34  · Conference Call

The following is a summary of the CareDx, Inc. (CDNA) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • CareDx reported Q1 revenue of $72 million, up 10% from the prior quarter.

  • The revenue from Testing Services increased 8% quarter-over-quarter to $53.8 million.

  • The company's products business achieved 25% year-over-year growth, resulting in $8.6 million in revenue.

  • The company raised its revenue guidance for 2024 to $274-282 million.

  • The company expects a gross margin at the high end of their reported range of around 63% to 65%.

Business Progress:

  • CareDx continues to gain momentum in Testing Services, with an increase in test volumes.

  • The company is experiencing growth in their Patient and Digital Solutions and product businesses.

  • The company's initiatives to expand organ transplant surveillance services, particularly in Heart, Kidney, and Lung.

  • CareDx's acquisition of MediGO, a digital transplant management solution, is expected to boost future business prospects and revenue.

  • Adjusted EBITDA losses for the full year 2024 are predicted to improve to $14 million to $24 million.

More details: CareDx IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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