NEW YORK – CareDx said on Monday that it expects fourth quarter revenues of $58.4 million to $58.6 million, an increase of approximately 63 percent compared to $35.8 million in Q4 2019.
On average, analysts are expecting Q4 revenues of $53.2 million.
CareDx said that for the three months ended Dec. 31, 2020, testing revenue is expected to be between $50.0 million and $50.2 million compared to $29.1 million in the year-ago period. CareDx provided approximately 25,100 patient results for its AlloSure and AlloMap tests, including approximately 1,100 AlloSure Heart patient results since CareDx received Medicare reimbursement for the test.
Fourth quarter product revenue is expected to be $5.9 million compared to $5.1 million a year ago, while digital and other revenue is expected to be $2.4 million compared to $1.6 million.
Preliminary revenue for the full year is expected to be between $191.9 million and $192.1 million, up about 51 percent from $127.1 million in 2019, and ahead of analysts' average expectation of $186.8 million. Full-year testing revenue is expected to be $163.3 million to $163.5 million compared to $104.6 million in 2019, while product revenue is excepted to be $19.3 million compared to $18.3 million a year ago. Digital and other revenue for 2020 is expected to be $9.3 million compared to $4.2 million in 2019.
CareDx said its preliminary cash, cash equivalents, and marketable securities totaled $224.7 million as of Dec. 31.
In Monday morning trading on the Nasdaq, shares of CareDx were down about 1 percent at $80.