CareDx Q4 2022 results, 2023 revenue estimate boosts shares 17%
Jonathan Kitchen
- Beats on the top and bottom lines coupled with a 2023 revenue estimate range that includes the consensus has sent shares of CareDx (NASDAQ:CDNA) 17% higher Wednesday afternoon.
- CareDx (CDNA) is estimating 2023 revenue of $328M-$338M (consensus $335.63M).
- Even though EPS was a beat, the company's net loss in the quarter widened ~13% year over year to $18.3M (-$0.34 per share, basic and diluted vs -$0.31).
- The transplant diagnostics solutions provider ended 2022 with ~$89.9M in cash and cash equivalents compared to ~$348.5M at the end of 2021.
- Seeking Alpha's Quant Rating views CareDx (CDNA) as a hold.