Caredx Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Caredx has an operating margin of 12.2%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from -72.5% the prior year.
Caredx's revenue surged 19.1% year-over-year to $333.8M, reflecting rapid business expansion. This strong growth earns a score of 83/100.
Caredx carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.94, Caredx holds $3.94 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Caredx's ROE of 13.9% shows moderate profitability relative to equity, earning a score of 56/100.
Caredx scores 5.19, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.0B) relative to total liabilities ($112.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Caredx passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Caredx generates $0.72 in operating cash flow ($38.0M OCF vs $52.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
This page shows Caredx (CDNA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Caredx generated $333.8M in revenue in fiscal year 2024. This represents an increase of 19.1% from the prior year.
Caredx's EBITDA was $55.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 129.1% from the prior year.
Caredx reported $52.5M in net income in fiscal year 2024. This represents an increase of 127.6% from the prior year.
Caredx earned $0.93 per diluted share (EPS) in fiscal year 2024. This represents an increase of 126.3% from the prior year.
Caredx held $114.7M in cash against $0 in long-term debt as of fiscal year 2024.
Caredx had 55M shares outstanding in fiscal year 2024. This represents an increase of 6.3% from the prior year.
Caredx's operating margin was 12.2% in fiscal year 2024, reflecting core business profitability. This is up 84.8 percentage points from the prior year.
Caredx's net profit margin was 15.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 83.6 percentage points from the prior year.
Caredx's ROE was 13.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
Caredx invested $72.4M in research and development in fiscal year 2024. This represents a decrease of 11.6% from the prior year.
Caredx spent $522K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 98.1% from the prior year.
CDNA Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $100.1M+15.4% | $86.7M+2.4% | $84.7M-2.2% | $86.6M-6.2% | $92.3M+28.1% | $72.0M+9.9% | $65.6M-2.4% | $67.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $16.8M-0.4% | $16.8M-9.1% | $18.5M+12.2% | $16.5M-16.1% | $19.7M+5.2% | $18.7M+2.4% | $18.3M-3.8% | $19.0M |
| SG&A Expenses | $28.4M+2.7% | $27.7M+21.6% | $22.8M-26.5% | $31.0M+0.3% | $30.9M+2.5% | $30.1M+13.6% | $26.5M-21.9% | $34.0M |
| Operating Income | -$246K+97.8% | -$11.1M+16.8% | -$13.4M-115.8% | $84.4M+1251.6% | -$7.3M+67.5% | -$22.6M+81.6% | -$122.6M-326.1% | -$28.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$15K+87.2% | -$117K-301.7% | $58K-66.1% | $171K+677.3% | $22K+126.5% | -$83K-150.3% | $165K+306.3% | -$80K |
| Net Income | $1.7M+119.5% | -$8.6M+17.2% | -$10.4M-111.8% | $87.7M+1997.0% | -$4.6M+76.8% | -$19.9M+83.2% | -$118.1M-402.9% | -$23.5M |
| EPS (Diluted) | $0.03+118.8% | $-0.16+15.8% | $-0.19-111.9% | $1.60+1877.8% | $-0.09+76.3% | $-0.38+82.8% | $-2.21-414.0% | $-0.43 |
CDNA Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $432.3M-2.7% | $444.3M-9.3% | $489.6M-0.3% | $491.1M+5.2% | $466.8M+3.2% | $452.4M-3.1% | $466.8M-6.9% | $501.2M |
| Current Assets | $300.3M-2.3% | $307.3M-12.3% | $350.2M-0.5% | $351.8M+9.7% | $320.6M+5.8% | $303.1M-3.4% | $313.7M-9.1% | $345.2M |
| Cash & Equivalents | $91.4M+34.0% | $68.2M-23.1% | $88.7M-22.6% | $114.7M+19.7% | $95.8M+2.7% | $93.3M+13.5% | $82.2M+8.2% | $76.0M |
| Inventory | $28.3M+1.5% | $27.9M+21.7% | $22.9M+17.6% | $19.5M+1.4% | $19.2M-4.5% | $20.1M+3.4% | $19.5M+8.3% | $18.0M |
| Accounts Receivable | $47.8M-29.0% | $67.4M-5.8% | $71.5M+10.6% | $64.6M-2.4% | $66.2M+10.0% | $60.1M+17.8% | $51.1M-1.2% | $51.7M |
| Goodwill | $40.3M0.0% | $40.3M0.0% | $40.3M0.0% | $40.3M0.0% | $40.3M0.0% | $40.3M0.0% | $40.3M+0.3% | $40.2M |
| Total Liabilities | $121.2M+3.7% | $116.9M+6.0% | $110.3M-2.1% | $112.6M-44.3% | $202.1M+3.0% | $196.2M-4.5% | $205.5M+92.0% | $107.0M |
| Current Liabilities | $99.0M+6.3% | $93.2M+9.3% | $85.3M-4.6% | $89.4M+14.1% | $78.3M+11.6% | $70.2M-10.1% | $78.1M+7.4% | $72.7M |
| Long-Term Debt | N/A | N/A | N/A | $0 | $0 | N/A | N/A | N/A |
| Total Equity | $311.1M-5.0% | $327.4M-13.7% | $379.3M+0.2% | $378.4M+43.0% | $264.7M+3.3% | $256.2M-2.0% | $261.3M-33.7% | $394.1M |
| Retained Earnings | -$719.0M-3.4% | -$695.2M-9.2% | -$636.6M-1.7% | -$626.2M+10.1% | -$696.8M-0.2% | -$695.5M-2.5% | -$678.3M-27.0% | -$534.2M |
CDNA Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $37.4M+277.5% | $9.9M+137.2% | -$26.6M-221.4% | $21.9M+15.5% | $18.9M+223.8% | -$15.3M-82.7% | -$8.4M+17.7% | -$10.2M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $12.3M-47.2% | $23.4M+1665.8% | $1.3M+162.8% | -$2.1M+81.8% | -$11.6M-142.0% | $27.7M-33.1% | $41.4M+2861.5% | -$1.5M |
| Financing Cash Flow | -$26.5M+50.8% | -$53.8M-8268.7% | -$643K+28.8% | -$903K+81.4% | -$4.8M-280.4% | -$1.3M+95.3% | -$26.9M-107408.0% | -$25K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $25.6M-48.9% | $50.0M | $0 | $0 | $0-100.0% | $522K-98.0% | $26.0M+3090.4% | $814K |
CDNA Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -0.3%+12.6pp | -12.8%+3.0pp | -15.8%-113.3pp | 97.5%+105.4pp | -7.9%+23.4pp | -31.3%+155.7pp | -187.0%-144.2pp | -42.8% |
| Net Margin | 1.7%+11.5pp | -9.9%+2.4pp | -12.2%-113.5pp | 101.3%+106.3pp | -5.0%+22.6pp | -27.6%+152.5pp | -180.1%-145.2pp | -34.9% |
| Return on Equity | 0.5% | N/A | N/A | 23.2% | N/A | N/A | N/A | N/A |
| Return on Assets | 0.4%+2.3pp | -1.9%+0.2pp | -2.1%-20.0pp | 17.9%+18.9pp | -1.0%+3.4pp | -4.4%+20.9pp | -25.3%-20.6pp | -4.7% |
| Current Ratio | 3.03-0.3 | 3.30-0.8 | 4.11+0.2 | 3.94-0.2 | 4.09-0.2 | 4.32+0.3 | 4.02-0.7 | 4.75 |
| Debt-to-Equity | 0.39+0.0 | 0.36+0.1 | 0.290.0 | 0.30+0.3 | 0.00-0.8 | 0.77-0.0 | 0.79+0.5 | 0.27 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Caredx's annual revenue?
Caredx (CDNA) reported $333.8M in total revenue for fiscal year 2024. This represents a 19.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Caredx's revenue growing?
Caredx (CDNA) revenue grew by 19.1% year-over-year, from $280.3M to $333.8M in fiscal year 2024.
Is Caredx profitable?
Yes, Caredx (CDNA) reported a net income of $52.5M in fiscal year 2024, with a net profit margin of 15.7%.
What is Caredx's earnings per share (EPS)?
Caredx (CDNA) reported diluted earnings per share of $0.93 for fiscal year 2024. This represents a 126.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Caredx's EBITDA?
Caredx (CDNA) had EBITDA of $55.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Caredx's operating margin?
Caredx (CDNA) had an operating margin of 12.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Caredx's net profit margin?
Caredx (CDNA) had a net profit margin of 15.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Caredx's return on equity (ROE)?
Caredx (CDNA) has a return on equity of 13.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Caredx's operating cash flow?
Caredx (CDNA) generated $38.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Caredx's total assets?
Caredx (CDNA) had $491.1M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Caredx spend on research and development?
Caredx (CDNA) invested $72.4M in research and development during fiscal year 2024.
Does Caredx buy back shares?
Yes, Caredx (CDNA) spent $522K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Caredx have outstanding?
Caredx (CDNA) had 55M shares outstanding as of fiscal year 2024.
What is Caredx's current ratio?
Caredx (CDNA) had a current ratio of 3.94 as of fiscal year 2024, which is generally considered healthy.
What is Caredx's debt-to-equity ratio?
Caredx (CDNA) had a debt-to-equity ratio of 0.30 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Caredx's return on assets (ROA)?
Caredx (CDNA) had a return on assets of 10.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Caredx's Altman Z-Score?
Caredx (CDNA) has an Altman Z-Score of 5.19, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Caredx's Piotroski F-Score?
Caredx (CDNA) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Caredx's earnings high quality?
Caredx (CDNA) has an earnings quality ratio of 0.72x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Caredx?
Caredx (CDNA) scores 80 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.