CareDx Q4 revenue $82.4M (+4% YoY); net loss widens to $18.3M; guides for H1 2023 EBITDA profitability

CareDx, Inc.

2022-FY EPS reported -$1.44 revenue$321,793,000

Full year 2022 revenue $321.8M (+9% YoY); testing volumes up 19% to ~182,000 tests.
Q4 net loss $18.3M ($0.34 loss per share) vs $16.2M loss in Q4 2021; non-GAAP net loss $3.7M.
Adjusted EBITDA loss $3.7M in Q4 vs $1.4M loss; full year adjusted EBITDA loss $17.5M vs gain of $17.8M in 2021.
Cash and marketable securities $293M, no debt; authorized $50M share buyback, repurchased $0.6M in Q4.
Management targets adjusted EBITDA profitability in first half of 2023; ISHLT guidelines expanded use of HeartCare solutions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CareDx, Inc. reported full year ended December 31, 2022 results: revenue $321.8 million, net income $76.6 million, EPS $1.44.

Period: full year ended December 31, 2022
Revenue: $321.8 million
Net income: $76.6 million
EPS: $1.44
Result: reported results

Exact text from the filing

Revenue for the full year ended December 31, 2022, was $321.8 million, an increase of 9% compared with $296.4 million in 2021. Testing services revenue for the full year ended December 31, 2022 was $263.7 million, compared with $259.3 million in 2021. Product revenue for the full year ended December 31, 2022 was $29.3 million, compared to $26.8 million in 2021. Patient and digital solutions revenue for the full year 2022 was $28.8 million, compared to $10.3 million in 2021. Net loss for the full year ended December 31, 2022 was $76.6 million, compared to a net loss of $30.7 million in 2021. Basic and diluted net loss per share for the full year ended December 31, 2022 was $1.44, compared to basic and diluted net loss per share of $0.59 in the full year ended December 31, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CareDx, Inc. reported three months ended December 31, 2022 results: revenue $82.4 million, net income $18.3 million, EPS $0.34.

Period: three months ended December 31, 2022
Revenue: $82.4 million
Net income: $18.3 million
EPS: $0.34
Result: reported results

Exact text from the filing

Revenue for the three months ended December 31, 2022 was $82.4 million, an increase of 4% compared with $79.2 million in the fourth quarter of 2021. Testing services revenue for the quarter was $65.4 million, compared with $68.7 million in the same period in 2021. Total AlloSure ® and AlloMap ® patient results provided in the quarter were 47,700, including 2,300 AlloSure ® Lung patient results. Product revenue in the three months ended December 31, 2022 was $8.6 million, compared to $7.7 million in the same period in 2021. Patient and digital solutions revenue in the fourth quarter of 2022 was $8.4 million, compared to $2.9 million in the same period in 2021. For the fourth quarter of 2022, net loss was $18.3 million, compared to a net loss of $16.2 million in the same period in 2021. Basic and diluted net loss per share in the fourth quarter of 2022 was $0.34, compared to basic and diluted net loss per share of $0.31 in the fourth quarter of 2021.

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Source: SEC EDGAR

accession 0001217234-23-000043

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