CDNANasdaqServices-Medical LaboratoriesUS GAAP · USD

CareDx, Inc.

CareDx, Inc. is a precision medicine company focused on transplant patients and organ health. Its business centers on non-invasive molecular testing for heart, kidney, and lung transplants, supported by laboratory products, digital health tools, and patient support services. The company’s model is built around serving transplant centers with a bundled portfolio that can be cross-sold across the same clinical accounts. CareDx is headquartered in Brisbane, California, with major operations in Omaha, Nebraska and Stockholm, Sweden.

Liikevaihto380milj. USD
+13,8 %v/v
Liikevoitto (EBIT)−30,8milj. USD
−175,5 %v/v
EBIT-marginaali−8,1%
−20,3 %-yks.v/v
Nettotulos−21,4milj. USD
−140,6 %v/v
Vapaa kassavirta42,0milj. USD
+10,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−400−2000200400milj. USD2020: 192 milj. USD2020: EBIT −23 milj. USD20202021: 296 milj. USD2021: EBIT −30 milj. USD20212022: 322 milj. USD2022: EBIT −77 milj. USD20222023: 280 milj. USD2023: EBIT −203 milj. USD20232024: 334 milj. USD2024: EBIT 41 milj. USD20242025: 380 milj. USD2025: EBIT −31 milj. USD2025380−31
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Testing services72 %

Non-invasive molecular surveillance tests for transplant patients, including AlloSure and AlloMap-based offerings.

Product revenue13 %

Laboratory and HLA-related product kits sold to end users, distributors, and strategic partners.

Patient and digital solutions15 %

Software, SaaS, workflow, and pharmacy services that support transplant-center operations and patient care.

Tuotteet

Raportoitu · osuus liikevaihdosta
72,3%15,0%12,7%FY2025100 %
  • Services72,3 %
  • Patient and Digital Solutions15,0 %
  • Products12,7 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

CareDx sells primarily to transplant centers and the clinicians, laboratories, and care teams that support them. These customers buy its testing and digital tools to monitor graft health, improve adherence to surveillance protocols, and streamline transplant-center operations. The company also serves hospital and commercial reference laboratories through its HLA typing and related product lines. End users, distributors, and strategic partners are relevant buyers for product kits, while pharmacy and software offerings support the broader transplant care ecosystem. The business is concentrated in a relatively specialized customer base, which makes adoption depth at each center more important than broad account count.

Transplant centers

Buy testing services and digital tools to monitor patients before and after transplant and improve care coordination.

Hospitals and reference laboratories

Purchase HLA typing and related laboratory products for transplant compatibility testing and lab workflows.

End users, distributors, and strategic partners

Buy product kits such as AlloSeq Tx, Olerup SSP, and QTYPE for resale or direct clinical use.

Patients and care teams

Use digital and pharmacy services that support adherence, medication management, and transplant follow-up.

Strategia

CareDx’s strategy is to deepen penetration within a concentrated set of transplant centers by cross-selling testing, products, and digital solutions into the same accounts. Management says this lowers customer acquisition costs and increases adoption and adherence across its portfolio. A second priority is to expand the company’s addressable market through its TRANSPLANT+ concept, which appears aimed at broadening the platform beyond core diagnostics into workflow and operational solutions. The company also emphasizes operational excellence and performance culture, which are important because reimbursement, lab execution, and commercial efficiency all affect profitability in a specialized healthcare model.

Accelerate profitable growth through solutions sellingLyhyt aikaväli

Bundling tests, products, and digital tools into the same transplant centers should improve adoption and reduce customer acquisition costs.

Drive operational excellenceLyhyt aikaväli

Efficiency in lab operations, billing, and commercial execution is critical in a reimbursement-driven diagnostics business.

Define TRANSPLANT+ and expand TAMKeskipitkä aikaväli

Broadening beyond core molecular testing can increase wallet share and create new growth vectors in transplant operations.

Elevate performance cultureKeskipitkä aikaväli

Execution quality matters in a specialized, regulated healthcare market where product adoption and reimbursement depend on trust and consistency.

Maantiede

Q1/2026

CareDx reports that substantially all of its revenue comes from the United States and Europe, with assets and operations concentrated in the United States and Sweden. The company’s headquarters are in Brisbane, California, and it has primary operations in Omaha, Nebraska and Stockholm, Sweden. This footprint matters because the business depends on regulated clinical testing, reimbursement systems, and data handling across multiple jurisdictions. Foreign operations also create exposure to currency, regulatory, and cross-border compliance issues, even though the company notes that its foreign countries are economically stable. The geographic mix is important operationally because the company’s transplant-center relationships and laboratory capabilities are anchored in a few specialized hubs rather than a broad retail-style network.

USA97 %
Other countries (US filing)3,4 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

CareDx faces reimbursement and billing risk because a large share of testing revenue depends on payer coverage policies, appeals processes, and healthcare reimbursement decisions. Regulatory risk is also material because the company operates clinical laboratories and must comply with CLIA, FDA-related rules, and fraud-and-abuse laws. The business depends on licensed technologies and intellectual property, so loss of key licenses or weak patent protection could impair product sales and competitive position. Cybersecurity and data privacy are important because the company stores protected health information, billing data, and proprietary operational data across on-site and cloud environments. More broadly, demand can fluctuate with transplant volumes, economic conditions, and the pace of commercialization of new products, while competition from large diagnostics companies and in-house lab solutions can pressure adoption.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Reimbursement and billing uncertainty1Regulatory compliance for clinical laboratories2Cybersecurity and data privacy breaches3License and intellectual property dependence4Competitive pressure in transplant diagnostics5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Reimbursement and billing uncertaintyVaikutus: KorkeaTodennäköisyys: Korkea

    Testing revenue depends on payer coverage policies, appeals, and collection success, which can delay cash conversion and reduce realized revenue.

    Kohdistuu: Testing services

  2. Regulatory compliance for clinical laboratoriesVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company must comply with CLIA, FDA-related rules, and state/federal laboratory requirements, and violations could disrupt operations or trigger penalties.

    Kohdistuu: Laboratory operations

  3. Cybersecurity and data privacy breachesVaikutus: KorkeaTodennäköisyys: Kohtalainen

    CareDx stores PHI, billing data, and proprietary information across multiple systems, so a breach could cause fines, interruption, and reputational damage.

    Kohdistuu: Digital and billing systems

  4. License and intellectual property dependenceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Termination or non-renewal of licenses could prevent the company from producing or selling some products and weaken its market position.

    Kohdistuu: Product portfolio

  5. Competitive pressure in transplant diagnosticsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Thermo Fisher, other molecular diagnostics firms, and in-house lab solutions can pressure pricing, adoption, and product differentiation.

    Kohdistuu: Testing and HLA products

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition across multiple revenue streams

Testing, product, and digital offerings recognize revenue differently, so timing and estimates can materially affect quarterly results.

Vaikutus: Revenue and accounts receivable

Collectability and reimbursement estimates

Management must estimate amounts expected to be collected from payers, especially where coverage is uncertain or appeals are required.

Vaikutus: Revenue, bad debt, cash flow

Goodwill and acquired intangible impairment

Acquisitions and purchased technology create assets that must be tested for impairment if performance weakens.

Vaikutus: Non-cash charges and book value

Stock-based compensation

Equity awards are a recurring expense and can materially affect reported operating margins.

Vaikutus: Operating expenses and EPS

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026

CareDx, Inc. (CDNA) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo