CareDx, Inc. Files Q3 2024 10-Q Report
Ticker: CDNA · Form: 10-Q · Filed: Nov 4, 2024 · CIK: 1217234
Sentiment: neutral
Topics: 10-Q, financials, healthcare
TL;DR
CareDx Q3 2024 10-Q filed. Financials and operations detailed.
AI Summary
CareDx, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Specific financial figures and business segment performance are outlined within the report.
Why It Matters
This filing provides investors and stakeholders with the latest financial results and operational insights for CareDx, Inc., crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information and operational updates which can reveal both positive and negative trends impacting the company's stock.
Key Numbers
- 2024 Q3 — Reporting Period (Financials and operations for the third quarter of 2024 are detailed.)
- 2023-12-31 — Previous Fiscal Year End (Provides a comparison point for the current fiscal year's performance.)
Key Players & Entities
- CareDx, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241104 (date) — Filing date
- 8000 MARINA BLVD (location) — Company's business and mailing address
- BRISBANE, CA (location) — Company's city and state
FAQ
What were CareDx's total revenues for the nine months ended September 30, 2024?
The filing indicates revenue figures for the nine months ended September 30, 2024, under 'us-gaap:ServiceMember' and 'us-gaap:ProductMember', but specific dollar amounts are not provided in this header snippet.
How does the third quarter of 2024 compare to the third quarter of 2023 for CareDx?
The filing provides comparative periods for Q3 2024 and Q3 2023 for both 'us-gaap:ServiceMember' and 'us-gaap:ProductMember', suggesting a comparison of performance is available within the full report.
What is the company's primary business segment as indicated by the SIC code?
CareDx, Inc. is classified under SERVICES-MEDICAL LABORATORIES [8071], indicating its primary business is in medical laboratory services.
When was CareDx, Inc. previously known by other names?
The company was formerly known as XDx, Inc. (name change on 20071010) and EXPRESSION DIAGNOSTICS INC (name change on 20030203).
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 4, 2024.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-11-04 16:18:08
Key Financial Figures
- $0.001 — ich Registered Common Stock, par value $0.001 per share CDNA The Nasdaq Stock Market
Filing Documents
- cdna-20240930.htm (10-Q) — 1581KB
- ex106_offerletterdatedaugu.htm (EX-10.6) — 14KB
- ex107_changeofcontrolandse.htm (EX-10.7) — 154KB
- ex108_confidentialinformat.htm (EX-10.8) — 119KB
- exhibit1011-separationagre.htm (EX-10.11) — 58KB
- exhibit1012-consultingagre.htm (EX-10.12) — 81KB
- cdna-20240930x10qxexx311.htm (EX-31.1) — 11KB
- cdna-20240930x10qxexx312.htm (EX-31.2) — 11KB
- cdna-20240930x10qxexx321.htm (EX-32.1) — 9KB
- logo.jpg (GRAPHIC) — 6KB
- 0001217234-24-000103.txt ( ) — 9281KB
- cdna-20240930.xsd (EX-101.SCH) — 60KB
- cdna-20240930_cal.xml (EX-101.CAL) — 100KB
- cdna-20240930_def.xml (EX-101.DEF) — 276KB
- cdna-20240930_lab.xml (EX-101.LAB) — 759KB
- cdna-20240930_pre.xml (EX-101.PRE) — 510KB
- cdna-20240930_htm.xml (XML) — 1364KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3
Unaudited Condensed Consolidated Financial Statements
Item 1. Unaudited Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 49
Controls and Procedures
Item 4. Controls and Procedures 49
OTHER INFORMATION
PART II. OTHER INFORMATION 51
Legal Proceedings
Item 1. Legal Proceedings 51
Risk Factors
Item 1A. Risk Factors 51
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 59
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 60
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 60
Other Information
Item 5. Other Information 60
Exhibits
Item 6. Exhibits 61
Signatures
Signatures 63 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CareDx, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 95,400 $ 82,197 Marketable securities 145,453 153,221 Accounts receivable 66,627 51,061 Inventory 19,263 19,471 Prepaid and other current assets 7,344 7,763 Total current assets 334,087 313,713 Property and equipment, net 34,015 35,246 Operating leases right-of-use assets 25,823 29,891 Intangible assets, net 40,361 45,701 Goodwill 40,336 40,336 Restricted cash 592 586 Other assets 1,771 1,353 Total assets $ 476,985 $ 466,826 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 6,239 $ 12,872 Accrued compensation 29,915 19,703 Accrued and other liabilities 45,286 45,497 Total current liabilities 81,440 78,072 Deferred tax liability 202 136 Deferred payments for intangible assets 1,310 2,461 Operating lease liability, less current portion 23,841 28,278 Other liabilities 96,946 96,551 Total liabilities 203,739 205,498 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock: $ 0.001 par value; 10,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock: $ 0.001 par value; 100,000,000 shares authorized at September 30, 2024 and December 31, 2023; 53,106,871 and 51,503,377 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 50 49 Additional paid-in capital 984,627 946,511 Accumulated other comprehensive loss ( 7,179 ) ( 6,963 ) Accumulated deficit ( 704,252 ) ( 678,269 ) Total stockholders' equity 273,246 261,328 Total liabilities and stockholders' equity $ 476,985 $ 466,826 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Con