CareDx (CDNA) financial statements
CareDx reported revenue of $380M in fiscal 2025, up 28.2% a year over 9 years.
Net income was -$21M and the operating margin -8.1%, against -91.9% in 2016.
Free cash flow was $36M, and the company returned $88M in net buybacks.
The diluted share count rose 223% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CareDx's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41M | $48M | $77M | $127M | $192M | $296M | $322M | $280M | $334M | $380M |
| Cost of revenue | $10M | $21M | $33M | $45M | — | — | — | — | — | — |
| Gross profit | $30M | $27M | $44M | $82M | — | — | — | — | — | — |
| Research and development | $12M | $12M | $15M | $31M | $49M | $77M | $90M | $82M | $73M | $71M |
| Selling, general and admin | $32M | $33M | $45M | $75M | $103M | $152M | $196M | $203M | $207M | $210M |
| Operating income | -$37M | -$20M | -$16M | -$25M | -$23M | -$30M | -$77M | -$203M | $41M | -$31M |
| Pre-tax income | -$41M | -$57M | -$48M | -$24M | -$20M | -$32M | -$76M | -$190M | $53M | -$21M |
| Income tax | -$2M | -$2M | -$1M | -$2M | -$1M | -$1M | $379,000 | $141,000 | $310,000 | $271,000 |
| Net income | -$39M | -$55M | -$47M | -$22M | -$19M | -$31M | -$77M | -$190M | $53M | -$21M |
| EPS (diluted) | -$2.39 | -$2.38 | -$1.31 | -$0.52 | -$0.40 | -$0.59 | -$1.44 | -$3.54 | $0.93 | -$0.40 |
| Diluted shares | 16M | 23M | 36M | 42M | 46M | 52M | 53M | 54M | 57M | 53M |
| Gross margin | 74.8% | 55.8% | 56.9% | 64.2% | — | — | — | — | — | — |
| Operating margin | -91.9% | -42.0% | -20.3% | -19.3% | -11.7% | -10.0% | -24.0% | -72.5% | 12.2% | -8.1% |
| Net margin | -97.1% | -114.8% | -61.1% | -17.3% | -9.7% | -10.3% | -23.8% | -67.9% | 15.7% | -5.6% |
Balance sheet
Fiscal years, from CareDx's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $17M | $17M | $65M | $38M | $225M | $348M | $293M | $235M | $261M | $177M |
| Receivables | $3M | $3M | $10M | $24M | $35M | $60M | $66M | $51M | $65M | $43M |
| Inventory | $5M | $6M | $5M | $6M | $10M | $17M | $19M | $19M | $20M | $27M |
| Total current assets | $27M | $27M | $81M | $72M | $273M | $433M | $388M | $314M | $352M | $257M |
| Property, plant and equipment | $3M | $2M | $4M | $4M | $11M | $22M | $36M | $35M | $34M | $33M |
| Goodwill | $14M | $12M | $12M | $24M | $24M | $37M | $38M | $40M | $40M | $40M |
| Total assets | $77M | $84M | $131M | $152M | $369M | $567M | $543M | $467M | $491M | $413M |
| Total current liabilities | $41M | $43M | $20M | $35M | $69M | $77M | $76M | $78M | $89M | $90M |
| Long-term debt | $1M | $18M | $0 | $0 | $0 | — | — | — | — | — |
| Total liabilities | $57M | $90M | $35M | $53M | $91M | $101M | $112M | $205M | $113M | $110M |
| Shareholders' equity | $19M | -$6M | $96M | $99M | $278M | $466M | $431M | $261M | $378M | $303M |
| Net debt | $7M | $17M | -$65M | -$38M | -$135M | -$348M | -$90M | -$82M | -$115M | -$65M |
Cash flow
Fiscal years, from CareDx's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$17M | -$14M | -$4M | -$3M | $33M | -$19M | -$25M | -$18M | $38M | $42M |
| Capital spending | $549,000 | $186,000 | $2M | $576,000 | $274,000 | $14M | $21M | $8M | $6M | $6M |
| Free cash flow | -$17M | -$14M | -$6M | -$3M | $33M | -$33M | -$46M | -$27M | $32M | $36M |
| Stock-based compensation | $2M | $2M | $7M | $22M | $23M | $36M | $47M | $49M | $66M | $35M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$642,000 | -$28M | -$522,000 | -$88M |
| Free cash flow margin | -42.0% | -30.0% | -7.9% | -2.6% | 17.3% | -11.1% | -14.4% | -9.5% | 9.5% | 9.5% |
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Open CDNA in InvestinglyQuestions
What was CareDx's revenue in 2025?
$380M in fiscal 2025, from its 10-K filing.
How much free cash flow does CareDx generate?
$36M in fiscal 2025 (operating cash flow minus capital spending).
From CareDx's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.