NASDAQ$CDNA
CareDx Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a decrease in revenue due to the impact of Medicare Billing Article revisions, but achieved milestones in Medicare approvals and TRF adoption.
CareDx reported a 13% year-over-year decrease in revenue to $70.3 million for Q2 2023, primarily due to the impact of Medicare Billing Article revisions. The company achieved key milestones, including Medicare coverage for HeartCare and AlloSure Lung. They also reached over 80% adoption of new test requisition forms ahead of schedule.
- Received first multimodal MolDX approval in transplant with HeartCare for Medicare patients.
- Received first donor-derived cell-free DNA (dd-cfDNA) MolDX approval for lung transplant patients with AlloSure® Lung for Medicare patients.
- Revenue decreased by 13% year-over-year to $70.3 million due to Medicare Billing Article revisions.
- Achieved over 80% adoption of new test requisition forms, two quarters ahead of target.
Headline financials
Revenue & EPS history
CareDx · Revenue · Quarterly
$70.3M
Revenue by segment
CareDx · $57.3M total across 2 segments · Q3 2023
- Testing Services$47.8M-26.3%83.4%
- Product Revenue$9.54M+32.4%16.6%
Forward guidance
CareDx expects revenue to be in the range of $240 to $260 million for the full year 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+2.4%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+7.1%
Avg return
30 days after
54%
28 / 52 earnings
Positive
+45.7%
Q1 2024
Best reaction
-24.3%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -1.6% | +3.8% | |
| Q4 2025 | -4.3% | -2.6% | -12.8% | |
| Q3 2025 | -1.8% | +5.8% | +31.4% | |
| Q1 2025 | -10.7% | -16.0% | +0.7% | |
| Q4 2024 | -0.2% | -3.8% | -14.9% | |
| Q3 2024 | +1.1% | +4.5% | +14.5% | |
| Q2 2024 | +25.7% | +26.3% | +63.8% | |
| Q1 2024 | +45.7% | +49.7% | +49.4% | |
| Q4 2023 | +12.1% | +27.3% | +11.6% | |
| Q3 2023 | +8.7% | +19.5% | +48.0% | |
| Q2 2023 | -9.3% | -17.6% | -23.5% | |
| Q1 2023 | -2.0% | -2.2% | -8.7% | |
| Q4 2022 | +16.4% | -37.9% | -37.0% | |
| Q3 2022 | -16.5% | -14.4% | -31.1% | |
| Q2 2022 | +7.7% | -4.2% | -25.2% | |
| Q1 2022 | -24.3% | -32.1% | -23.9% | |
| Q4 2021 | +10.3% | +7.2% | +6.6% | |
| Q3 2021 | -24.3% | -26.9% | -37.1% | |
| Q2 2021 | -2.5% | -4.9% | -7.4% | |
| Q1 2021 | -1.9% | -10.0% | +9.3% | |
| Q4 2020 | +2.7% | +13.2% | -20.3% | |
| Q3 2020 | -3.1% | -2.4% | +13.5% | |
| Q2 2020 | +5.2% | -0.9% | -4.3% | |
| Q1 2020 | -0.0% | +9.6% | +19.6% | |
| Q4 2019 | -5.6% | -13.2% | -11.5% | |
| Q3 2019 | -11.8% | -23.8% | -21.6% | |
| Q2 2019 | +6.8% | -15.7% | -30.4% | |
| Q1 2019 | +15.0% | +12.6% | +30.6% | |
| Q4 2018 | +7.5% | +10.2% | -10.1% | |
| Q3 2018 | -9.8% | -10.2% | -6.0% | |
| Q2 2018 | +15.3% | +14.6% | +73.1% | |
| Q1 2018 | -2.1% | -2.6% | +35.1% | |
| Q4 2017 | +24.1% | +28.5% | +51.8% | |
| Q3 2017 | +6.2% | +6.6% | +31.0% | |
| Q2 2017 | +9.2% | +26.8% | +109.9% | |
| Q1 2017 | -4.6% | -3.7% | +14.7% | |
| Q4 2016 | +5.1% | -12.2% | +13.7% | |
| Q3 2016 | +1.3% | +3.9% | -24.7% | |
| Q2 2016 | -1.0% | -2.9% | -5.3% | |
| Q1 2016 | +6.0% | — | — | |
| Q4 2015 | +7.7% | — | — | |
| Q3 2015 | +5.0% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2014 | -0.4% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q4 2014 | -1.8% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q3 2014 | +17.2% | — | — | |
| Q2 2013 | +0.2% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q2 2014 | +1.9% | — | — | |
| Q1 2013 | — | — | — |
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