Caredx Financials
Caredx (CDNA) reported $379.8M in revenue for fiscal year 2025, up 13.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
CareDx’s dominant mechanic is a cash-generating business with volatile reported earnings, while capital returns steadily thin excess liquidity.
In the latest year, cash conversion was stronger than earnings: net income was-$21.4M while operating cash flow was$42.0M . Because accounts receivable fell by$22.0M even as revenue increased, the year looks less like cash stress and more like a period when collections and working-capital release masked weaker reported profitability.
Revenue reached
Liquidity remains usable at 2.9x current ratio, and the company reports no long-term debt. Financing used
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Caredx's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Caredx has an operating margin of -8.1%, meaning the company loses $8 on every $100 of revenue. This results in a profitability score of 22/100. This is down from 12.2% the prior year.
Caredx's revenue grew 13.8% year-over-year to $379.8M, a solid pace of expansion. This earns a growth score of 78/100.
Caredx carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.86, Caredx holds $2.86 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Not available for Caredx, and counted as zero in the overall score.
Caredx posts a -7.0% return on equity (ROE), meaning it loses $7 for every $100 of shareholders' equity. This results in a returns score of 21/100. This is down from 13.9% the prior year.
Caredx scores 12.17, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.4B) relative to total liabilities ($110.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Caredx passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Caredx reported a net loss of $21.4M while generating $42.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Caredx generated $379.8M in revenue in fiscal year 2025. This represents an increase of 13.8% from the prior year.
Caredx's EBITDA was -$15.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 128.7% from the prior year.
Caredx reported -$21.4M in net income in fiscal year 2025. This represents a decrease of 140.6% from the prior year.
Caredx earned -$0.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 143.0% from the prior year.
Cash & Balance Sheet
Caredx held $65.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Caredx's operating margin was -8.1% in fiscal year 2025, reflecting core business profitability. This is down 20.3 percentage points from the prior year.
Caredx's net profit margin was -5.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 21.4 percentage points from the prior year.
Caredx's ROE was -7.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Caredx invested $71.4M in research and development in fiscal year 2025. This represents a decrease of 1.5% from the prior year.
Caredx spent $87.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 16713.8% from the prior year.
Not reported for fiscal year 2025.
CDNA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $458.1M | $379.8M+13.8% | $333.8M+19.1% | $280.3M-12.9% | $321.8M+8.6% | $296.4M+54.2% | $192.2M+51.3% | $127.1M+66.0% | $76.6M+58.4% | $48.3M+18.9% | $40.6M+44.4% | $28.1M+3.1% | $27.3M+23.6% | $22.1M+8.1% | $20.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $45.5M+37.8% | $33.0M+54.4% | $21.4M+108.7% | $10.2M | $0 | $0 | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $81.6M+87.3% | $43.6M+61.7% | $27.0M-11.3% | $30.4M+8.0% | $28.1M+3.1% | $27.3M | N/A | N/A |
| R&D Expenses | $79.9M | $71.4M-1.5% | $72.5M-12.0% | $82.4M-8.8% | $90.4M+18.1% | $76.5M+56.4% | $48.9M+59.4% | $30.7M+111.6% | $14.5M+17.2% | $12.4M0.0% | $12.4M+32.7% | $9.3M+142.7% | $3.8M+21.1% | $3.2M-33.2% | $4.8M |
| SG&A Expenses | $128.5M | $107.6M-14.0% | $125.1M+5.3% | $118.8M+18.4% | $100.4M+33.9% | $75.0M+53.6% | $48.8M+33.6% | $36.5M+59.0% | $23.0M+14.3% | $20.1M-3.0% | $20.7M+69.2% | $12.2M+45.2% | $8.4M+75.4% | $4.8M+2.4% | $4.7M |
| Operating Income | $108.1M | -$30.8M-175.5% | $40.8M+120.0% | -$203.4M-163.3% | -$77.2M-159.8% | -$29.7M-32.0% | -$22.5M+8.2% | -$24.5M-57.5% | -$15.6M+23.2% | -$20.3M+45.6% | -$37.3M-212.9% | -$11.9M-1054.6% | $1.3M+245.9% | -$857K+63.4% | -$2.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$1.9M-17.2% | -$1.6M+25.0% | -$2.1M+1.5% | -$2.1M-442.2% | $628K |
| Income Tax | $4.2M | $271K-12.6% | $310K+119.9% | $141K-62.8% | $379K+126.6% | -$1.4M-37.6% | -$1.0M+47.7% | -$2.0M-38.0% | -$1.4M+16.1% | -$1.7M-6.4% | -$1.6M | $0+100.0% | -$1.5M | $0 | $0 |
| Net Income | $111.0M | -$21.4M-140.6% | $52.5M+127.6% | -$190.3M-148.4% | -$76.6M-149.9% | -$30.7M-63.8% | -$18.7M+14.8% | -$22.0M+53.0% | -$46.8M+15.7% | -$55.5M-40.5% | -$39.5M-187.9% | -$13.7M-1855.1% | $781K+122.0% | -$3.5M+30.0% | -$5.1M |
| EPS (Diluted) | — | -$0.40-143.0% | $0.93+126.3% | -$3.54-145.8% | -$1.44-144.1% | -$0.59-47.5% | -$0.40+23.1% | -$0.52+60.3% | -$1.31 | -$2.38+0.4% | -$2.39-106.0% | -$1.16 | $0.10 | -$3.50+30.1% | -$5.01 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CDNA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $413.2M-15.8% | $491.1M+5.2% | $466.8M-14.0% | $543.0M-4.2% | $566.6M+53.8% | $368.5M+142.9% | $151.7M+16.1% | $130.7M+56.4% | $83.6M+8.9% | $76.7M+37.9% | $55.6M-9.0% | $61.1M+519.3% | $9.9M | N/A |
| Current Assets | $257.1M-26.9% | $351.8M+12.2% | $313.7M-19.1% | $387.8M-10.5% | $433.4M+58.7% | $273.1M+279.7% | $71.9M-11.3% | $81.1M+203.0% | $26.8M+0.4% | $26.7M-22.4% | $34.4M-14.8% | $40.3M+393.8% | $8.2M | N/A |
| Cash & Equivalents | $65.4M-43.0% | $114.7M+39.5% | $82.2M-8.6% | $89.9M-74.2% | $348.5M+158.8% | $134.7M+252.3% | $38.2M-40.8% | $64.6M+282.5% | $16.9M-2.1% | $17.3M-42.3% | $29.9M-18.0% | $36.4M+610.4% | $5.1M-12.0% | $5.8M |
| Inventory | $26.7M+36.9% | $19.5M+0.2% | $19.5M+1.2% | $19.2M+11.9% | $17.2M+71.7% | $10.0M+66.5% | $6.0M+21.7% | $4.9M-10.6% | $5.5M+1.2% | $5.5M+612.9% | $766K+11.7% | $686K+32.4% | $518K | N/A |
| Accounts Receivable | $42.6M-34.0% | $64.6M+26.5% | $51.1M-23.0% | $66.3M+11.0% | $59.8M+72.6% | $34.6M+43.9% | $24.1M+146.5% | $9.8M+226.3% | $3.0M+8.1% | $2.8M+16.9% | $2.4M-11.9% | $2.7M+18.4% | $2.3M | N/A |
| Goodwill | $40.3M0.0% | $40.3M0.0% | $40.3M+7.5% | $37.5M+1.5% | $37.0M+55.0% | $23.9M0.0% | $23.9M+98.7% | $12.0M0.0% | $12.0M-13.3% | $13.8M+15.3% | $12.0M0.0% | $12.0M | $0 | N/A |
| Total Liabilities | $110.1M-2.2% | $112.6M-45.2% | $205.5M+83.3% | $112.1M+11.3% | $100.7M+10.9% | $90.8M+72.2% | $52.7M+51.7% | $34.8M-61.2% | $89.5M+57.1% | $57.0M+117.9% | $26.1M+31.8% | $19.8M-87.6% | $160.5M | N/A |
| Current Liabilities | $89.8M+0.5% | $89.4M+14.5% | $78.1M+2.8% | $76.0M-1.7% | $77.3M+11.7% | $69.2M+98.7% | $34.8M+78.6% | $19.5M-54.5% | $42.9M+5.1% | $40.8M+302.2% | $10.2M-8.8% | $11.1M+46.6% | $7.6M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $18.3M+1570.1% | $1.1M-91.5% | $12.9M+136.4% | $5.5M-50.1% | $10.9M | N/A |
| Total Equity | $303.1M-19.9% | $378.4M+44.8% | $261.3M-39.4% | $430.9M-7.5% | $465.9M+67.8% | $277.7M+180.5% | $99.0M+3.2% | $95.9M+1663.9% | -$6.1M-131.5% | $19.5M-33.9% | $29.5M-28.6% | $41.3M+127.4% | -$150.7M-2.4% | -$147.2M |
| Retained Earnings | -$618.9M+1.2% | -$626.2M+7.7% | -$678.3M-47.3% | -$460.4M-20.2% | -$383.2M-8.7% | -$352.5M-5.6% | -$333.8M-7.0% | -$311.8M-16.4% | -$268.0M-26.1% | -$212.6M-22.8% | -$173.1M-8.6% | -$159.4M+0.5% | -$160.2M | N/A |
CDNA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $93.7M | $42.0M+10.5% | $38.0M+306.9% | -$18.4M+27.1% | -$25.2M-30.8% | -$19.3M-157.7% | $33.4M+1307.3% | -$2.8M+30.9% | -$4.0M+72.0% | -$14.3M+13.4% | -$16.5M-69.4% | -$9.8M-191.1% | -$3.4M-513.6% | -$546K+69.3% | -$1.8M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2.0M+994.1% | $186K-66.1% | $549K-54.2% | $1.2M+63.6% | $733K+648.0% | $98K-30.5% | $141K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$6.0M+58.3% | -$14.5M+15.1% | -$17.1M-55.9% | -$11.0M-168.2% | -$4.1M-534.0% | -$644K+66.4% | -$1.9M |
| Investing Cash Flow | $269.1M | $2.2M+546.8% | -$483K-101.2% | $40.4M+117.7% | -$228.5M-578.9% | $47.7M+147.5% | -$100.4M-344.6% | -$22.6M-184.8% | -$7.9M-29.9% | -$6.1M+71.1% | -$21.1M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$57.3M | -$93.4M-1566.0% | -$5.6M+81.1% | -$29.6M-552.8% | -$4.5M-102.4% | $185.6M+13.8% | $163.1M+123697.7% | -$132K-100.3% | $50.3M+71.1% | $29.4M+17.9% | $24.9M | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $87.8M+16713.8% | $522K-98.1% | $27.5M+4189.9% | $642K | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CDNA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | 64.2%+7.3pp | 56.9%+1.1pp | 55.8%-19.0pp | 74.8%-25.2pp | 100.0%0.0pp | 100.0% | N/A | N/A |
| Operating Margin | -8.1%-20.3pp | 12.2%+84.8pp | -72.5%-48.6pp | -24.0%-14.0pp | -10.0%+1.7pp | -11.7%+7.6pp | -19.3%+1.0pp | -20.3%+21.6pp | -42.0%+49.9pp | -91.9%-49.5pp | -42.4%-47.0pp | 4.6%+8.5pp | -3.9%+7.6pp | -11.5% |
| Net Margin | -5.6%-21.4pp | 15.7%+83.6pp | -67.9%-44.1pp | -23.8%-13.5pp | -10.3%-0.6pp | -9.7%+7.5pp | -17.3%+43.8pp | -61.1% | -114.8% | -97.1%-48.4pp | -48.7%-51.6pp | 2.9%+18.9pp | -16.0%+8.7pp | -24.7% |
| Return on Equity | -7.0%-20.9pp | 13.9%+86.7pp | -72.8%-55.0pp | -17.8%-11.2pp | -6.6%+0.2pp | -6.7%+15.4pp | -22.2%+26.6pp | -48.7% | N/A | -202.6%-156.1pp | -46.5%-48.4pp | 1.9% | N/A | N/A |
| Return on Assets | -5.2%-15.9pp | 10.7%+51.5pp | -40.8%-26.7pp | -14.1%-8.7pp | -5.4%-0.3pp | -5.1%+9.4pp | -14.5%+21.3pp | -35.8%+30.6pp | -66.4%-14.9pp | -51.4%-26.8pp | -24.6%-25.9pp | 1.3%+37.2pp | -35.9% | N/A |
| Current Ratio | 2.86-1.1x | 3.94-0.1x | 4.02-1.1x | 5.11-0.5x | 5.61+1.7x | 3.95+1.9x | 2.07-2.1x | 4.16+3.5x | 0.620.0x | 0.65-2.7x | 3.38-0.2x | 3.62+2.5x | 1.08 | N/A |
| Debt-to-Equity | 0.36+0.1x | 0.30-0.5x | 0.79+0.5x | 0.260.0x | 0.22+0.2x | 0.000.0x | 0.000.0x | 0.00 | N/A | 0.06-0.4x | 0.44+0.3x | 0.13 | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -7.9%+22.1pp | -30.0%+12.0pp | -42.0%-3.1pp | -38.9%-24.0pp | -14.9%-12.0pp | -2.9%+6.5pp | -9.4% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
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Where Caredx Ranks
Frequently Asked Questions
What is Caredx's annual revenue?
Caredx (CDNA) reported $379.8M in total revenue for fiscal year 2025. This represents a 13.8% 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 13.8% year-over-year, from $333.8M to $379.8M in fiscal year 2025.
Is Caredx profitable?
No, Caredx (CDNA) reported a net income of -$21.4M in fiscal year 2025, with a net profit margin of -5.6%.
What is Caredx's EBITDA?
Caredx (CDNA) had EBITDA of -$15.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Caredx's operating margin?
Caredx (CDNA) had an operating margin of -8.1% in fiscal year 2025, 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 -5.6% in fiscal year 2025, 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 -7.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Caredx's operating cash flow?
Caredx (CDNA) generated $42.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Caredx's total assets?
Caredx (CDNA) had $413.2M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Caredx spend on research and development?
Caredx (CDNA) invested $71.4M in research and development during fiscal year 2025.
What is Caredx's current ratio?
Caredx (CDNA) had a current ratio of 2.86 as of fiscal year 2025, which is generally considered healthy.
What is Caredx's debt-to-equity ratio?
Caredx (CDNA) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, 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 -5.2% for fiscal year 2025, 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 12.17, 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 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Caredx's earnings high quality?
Caredx (CDNA) reported a net loss of $21.4M while generating $42.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.