CareDx Reports Preliminary Fourth Quarter and Full Year 2019 Results

SOUTH SAN FRANCISCO, Calif., Jan. 13, 2020 (GLOBE NEWSWIRE) -- CareDx, Inc. (NASDAQ: CDNA), a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers, today reported preliminary financial results for the fourth quarter and full year ended December 31, 2019.

Preliminary revenue for the three months ended December 31, 2019 is expected to be between $35.7 million and $36.0 million, an increase of 52% to 53% compared with $23.5 million in the fourth quarter of 2018. Testing revenue for the quarter is expected to be between $29.0 million to $29.3 million, compared with $18.9 million in the same period in 2018. Total AlloSure Kidney and AlloMap Heart patient results provided in the quarter were 14,055. Product revenue in the three months ended December 31, 2019 is expected to be $5.1 million, compared to $4.6 million in the same period in 2018. Digital & Other revenue in the fourth quarter of 2019 is expected to be $1.6 million, compared to $0.1 million in the same period in 2018.

Preliminary revenue for the full year ended December 31, 2019 is expected to be between $127.0 million and $127.3 million, an increase of approximately 66% compared with $76.6 million in 2018.  Testing revenue for the year ended December 31, 2019 is expected to be between $104.4 million to $104.7 million, compared with $60.3 million in 2018. Product revenue for the full year 2019 is expected to be $18.3 million, compared to $15.7 million in 2018. Digital & Other revenue for the full year 2019 is expected to be $4.2 million, compared to $0.6 million in 2018.

Preliminary cash and cash equivalents were $38.2 million as of December 31, 2019.

“2019 was another record year for CareDx with 66% revenue growth. We are firmly positioned as the leading provider of genomics-based information in transplantation and have the momentum and capabilities to drive continued innovation and growth in 2019. We executed well against our transplant focused growth strategy, building on our strong platform by launching new and next generation technologies, and acquiring electronic medical records, quality tracking and transplant waitlist management capabilities,” said Peter Maag. “We look forward to another exciting year of strong growth as we continue to innovate and evolve novel solutions for the transplant community.”