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CareDx (CDNA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, CareDx (CDNA) reported revenue of $72.05 million, down 6.7% over the same period last year. EPS came in at -$0.03, compared to -$0.11 in the year-ago quarter.

The reported revenue represents a surprise of +13.24% over the Zacks Consensus Estimate of $63.63 million. With the consensus EPS estimate being -$0.19, the EPS surprise was +84.21%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how CareDx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Patient and digital solutions: $9.62 million compared to the $9.64 million average estimate based on two analysts. The reported number represents a change of +11.6% year over year.

  • Revenue- Testing services: $53.84 million versus the two-analyst average estimate of $46.42 million. The reported number represents a year-over-year change of -12.9%.

  • Revenue- Product: $8.59 million versus the two-analyst average estimate of $7.39 million. The reported number represents a year-over-year change of +25.3%.

View all Key Company Metrics for CareDx here>>>

Shares of CareDx have returned +9.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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