CareDx Preliminary FY23 Revenue Above High End Of Guidance

(RTTNews) - CareDx, Inc. (CDNA) said it expects preliminary fourth quarter revenue to be between $65 million and $66 million. Testing services revenue is expected to be between $46 million and $47 million, compared with $65.4 million in the same period in 2022.

The company anticipates preliminary revenue for the full year ended December 31, 2023, to be between $279 million and $280 million, a decrease of approximately 13% compared with $321.8 million in 2022, primarily driven by the impact of the Medicare Billing Article on Testing Services revenue. Testing services revenue is expected to be between $209 million and $210 million, compared with $263.7 million in 2022.

Preliminary cash, cash equivalents, and marketable securities were approximately $235 million as of December 31, 2023.

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