CareDx down 13% after withdrawing 2023 revenue guidance
CharlieAJA
- CareDx (NASDAQ:CDNA) is down 13% in after-hours trading after the company said it is withdrawing its 2023 revenue guidance in light of March and May 2023 billing article revisions.
- The 2023 consensus revenue estimate is $310.32M
- In addition, the company's Q1 2023 results missed on the top and bottom lines.
- In Q1, CareDx's (CDNA) net loss widened ~21%% to ~$23.7M compared to the prior-year period (-$0.44 per share basic and diluted vs. -$0.37).
- The company operating expenses rose ~3% year over year to ~$101.6M.
- CareDx (CDNA) ended the quarter with ~$74.7M in cash and cash equivalents, a ~17% decline from Dec. 31, 2022.