The following is a summary of the CareDx, Inc. (CDNA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• CareDx reported Q1 revenue of $72 million, up 10% from the prior quarter.

• The revenue from Testing Services increased 8% quarter-over-quarter to $53.8 million.

• The company's products business achieved 25% year-over-year growth, resulting in $8.6 million in revenue.

• The company raised its revenue guidance for 2024 to $274-282 million.

• The company expects a gross margin at the high end of their reported range of around 63% to 65%.

Business Progress:

• CareDx continues to gain momentum in Testing Services, with an increase in test volumes.

• The company is experiencing growth in their Patient and Digital Solutions and product businesses.

• The company's initiatives to expand organ transplant surveillance services, particularly in Heart, Kidney, and Lung.

• CareDx's acquisition of MediGO, a digital transplant management solution, is expected to boost future business prospects and revenue.

• Adjusted EBITDA losses for the full year 2024 are predicted to improve to $14 million to $24 million.

More details: CareDx IR

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