CareDx, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CareDx, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	40.6	48.3	76.6	127	192	296	322	280	334	380
Cost of revenue	10.2	21.4	33	45.5
Gross profit	30.4	27	43.6	81.6
Research and development	12.4	12.4	14.5	30.7	48.9	76.5	90.4	82.4	72.5	71.4
Selling and marketing	11.2	12.8	21.7	38.9	53.9	77.2	96	84.1	82	103
General and administrative	20.7	20.1	23	36.5	48.8	75	100	119	125	108
Operating expenses	78	47.2	92.1	152	215	326	399	484	293	411
Operating income	-37.3	-20.3	-15.6	-24.5	-22.5	-29.7	-77.2	-203	40.8	-30.8
Other non-operating income	-1.92	-37	-32.6	0.59	2.78	-2.36	1	13.2	12.1	9.7
Pre-tax income	-41.4	-57.3	-48.2	-23.9	-19.8	-32.1	-76.2	-190	52.9	-21.1
Income tax	-1.61	-1.71	-1.43	-1.98	-1.04	-1.43	0.38	0.14	0.31	0.27
Net income to minority interests	-0.29	-0.09	-0.03	0	0
Net income	-39.5	-55.5	-46.8	-22	-18.7	-30.7	-76.6	-190	52.5	-21.4
EBITDA	-34.4	-16.6	-11.4	-19	-15.5	-20.9	-65.6	-189	55	-15.8
EPS, basic	-2.39	-2.38	-1.31	-0.52	-0.40	-0.59	-1.44	-3.54	1.00	-0.40
EPS, diluted	-2.39	-2.38	-1.31	-0.52	-0.40	-0.59	-1.44	-3.54	0.93	-0.40
Shares, basic (weighted)	16.5	23.3	35.6	42.2	46.5	52.2	53.3	53.8	52.8	53.3
Shares, diluted (weighted)	16.5	23.3	35.6	42.2	46.5	52.2	53.3	53.8	56.6	53.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	17.3	16.9	64.6	38.2	135	348	89.9	82.2	115	65.4
Short-term investments				0	90	0	203	153	146	112
Receivables	2.77	2.99	9.76	24.1	34.6	59.8	66.3	51.1	64.6	42.6
Inventory	5.46	5.53	4.94	6.01	10	17.2	19.2	19.5	19.5	26.7
Other current assets	1.19	1.35	1.8	3.63	3.76	7.93	9.22	7.76	7.07	10.6
Total current assets	26.7	26.8	81.1	71.9	273	433	388	314	352	257
Property, plant and equipment	2.93	2.08	4.13	4.43	10.7	22	35.5	35.2	33.6	33
Lease right-of-use assets			0	4.73	15.2	18	34.7	29.9	24.3	22.8
Goodwill	13.8	12	12	23.9	23.9	37	37.5	40.3	40.3	40.3
Intangible assets	33.1	33.1	33.3	45.5	44.4	50.2	43.1	45.7	38.2	32
Long-term investments									0	24.2
Other non-current assets	0.02	0	0	1	1	5.84	3.83	1.35	2.22	3.35
Total assets	76.7	83.6	131	152	369	567	543	467	491	413
Accounts payable	3.07	3.39	4.71	5.51	9.65	13.3	9.94	12.9	7.69	9.99
Accrued liabilities	3.85	5.01	9.16	12.5	18.5	26	16.9	19.7	38.3	38.1
Deferred revenue	0.04	0.04	0.04	3.69	3.53	4.21	5.34	4.75	4.85	4.65
Short-term debt	22.8	15.7	0	0	0
Total current liabilities	40.8	42.9	19.5	34.8	69.2	77.3	76	78.1	89.4	89.8
Long-term debt	1.1	18.3	0	0	0
Lease liabilities				2.37	16.1	17.4	33.4	28.3	22.3	19.7
Other non-current liabilities	1.22	1.32	2.29	1.75	0.24	0.46	0.25	96.6	0.65	0.42
Total liabilities	57	89.5	34.8	52.7	90.8	101	112	205	113	110
Total debt	23.9	34.1	0	0	0
Paid-in capital	236	264	412	438	632	854	899	947	1,013	927
Retained earnings	-213	-268	-312	-334	-353	-383	-460	-678	-626	-619
Other comprehensive income	-3.66	-2.35	-4.28	-5.21	-2.1	-4.67	-7.5	-6.96	-8.57	-5.52
Shareholders' equity	19.5	-6.13	95.9	99	278	466	431	261	378	303
Minority interests	0.28	0.18	0
Total equity	19.8	-5.95	95.9	99	278	466	431	261	378	303
Total liabilities and equity	76.7	83.6	131	152	369	567	543	467	491	413
Shares outstanding	21.3	28.8	41.4	42.5	49.4	52.9	53.5	51.5	54.8	50.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-39.8	-55.6	-46.8	-22	-18.7	-30.7	-76.6	-190	52.5	-21.4
Depreciation and amortization	2.92	3.73	4.22	5.52	7.01	8.8	11.6	14.4	14.2	15
Stock-based compensation	2	1.74	7.14	22.4	23.4	36.1	46.6	49.1	66.4	34.9
Deferred income tax	-1.7	-1.85	-1.6	-1.49	-1.14	-1.38	-0.28	0.07	0.1	-0.15
Change in receivables	1.05	-0.11	-3.97	-12.7	-10.4	-24.4	-6.66	16	-13.7	22.5
Change in inventory	0.49	1.03	0.36	-1.27	-3.2	-6.93	-2.86	0.05	-1.02	-4.96
Change in payables	-0.62	0.29	-0.17
Cash from operations	-16.5	-14.3	-4.01	-2.77	33.4	-19.3	-25.2	-18.4	38	42
Capital expenditures	-0.55	-0.19	-2.04
Acquisitions	-20.6	-5.92	-0.69	-18.2	0	-15.4	-0.61	-6.68	0	0
Purchases of investments			0	0	-90	-5.5	-315	-201	-160	-146
Sales and maturities of investments				0	0	88.9	112	256	167	155
Cash from investing	-21.1	-6.11	-7.93	-22.6	-100	47.7	-229	40.4	-0.48	2.16
Stock issued	0.02	0.26	1.48	3.55	8.01	189	0	0	8.94	5.72
Share buybacks					0	0	-0.64	-27.5	-0.52	-87.8
Cash from financing	24.9	29.4	50.3	-0.13	163	186	-4.54	-29.6	-5.61	-93.4
Exchange rate effect	0.08	0.1
Net change in cash	-12.6	9.07	38.3	-26.3	96.5	214	-258	-7.66	32.5	-49.3
Free cash flow	-17.1	-14.5	-6.04
Interest paid	0.87	3.27	1.77	0.02	0.01	0	0.01	0	0
Income taxes paid			0	0	0.08	0.01	0.39	0.74	0.32	0.28

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $63.68 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	23.6%	Operating income / revenue.
EBITDA margin	26.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	25.1%	Pre-tax income / revenue.
Net margin	24.2%	Net income / revenue.
Operating cash flow margin	20.4%	Cash from operations / revenue.
Effective tax rate	3.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	26.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	20.8%	Net income / average total assets.
Return on invested capital (ROIC)	200.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	17.4%	Research and development expense / revenue.
Stock-based pay / revenue	8.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	3.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	14.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-175.5%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-128.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-140.6%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-143.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	10.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	4.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-19.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-11.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-15.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.58x	Current assets / current liabilities.
Quick ratio	4.35x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.99x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	20.1%	Total liabilities / total assets.
Working capital	$335.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	10.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$371.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.86x	Revenue / average total assets.
Fixed asset turnover	17.1x	Revenue / average property, plant and equipment.
Receivables turnover	13.3x	Revenue / average receivables.
Days sales outstanding	27 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.08	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$8.57	Revenue / diluted weighted shares.
Operating cash flow per share	$1.75	Cash from operations / diluted weighted shares.
Book value per share	$8.27	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.21	Tangible book value / shares outstanding.
Cash per share	$7.26	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.29B	Share price x shares outstanding.
Enterprise value	$2.92B	Market cap + total debt - cash - short-term investments.
P/E	29.7x	Market cap / net income. Only when net income is positive.
P/S	7.19x	Market cap / revenue.
P/B	7.74x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.88x	Market cap / tangible book value, when positive.
P/OCF	35.2x	Market cap / cash from operations, when positive.
EV/Sales	6.38x	Enterprise value / revenue.
EV/EBIT	27.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	3.4%	Net income / market cap (the inverse of P/E).

What was CareDx, Inc.'s revenue in fiscal 2025?

CareDx, Inc. reported revenue of $379.8M for fiscal 2025, 13.8% higher than the year before.

Was CareDx, Inc. profitable in fiscal 2025?

No. It reported a net loss of $21.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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