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Caredx, Inc. (CDNA) stock

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NASDAQ: CDNA Nasdaq Health Care Services Next results ~January 18, 2027

B+ Fundamentals grade

Caredx, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$24

Valuation models combined (3)

Base case. Range ~$22–$27. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Caredx, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 26 sales by directors and officers, last 12 monthsInsider trades
  • Funds127 adding, 81 cuttingOf 47 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Caredx files

10-Q filed October 29: Caredx

Model value −14.9%

Trailing twelve-month revenue to September 2026 reached $497m at CareDx, up 38.9% on a year earlier and an acceleration from 34.4% growth a quarter earlier. Among the 36 health care services companies we cover, that growth ranks third. Profitability also improved: free-cash-flow margin climbed to 10.3% from 7.8%, while operating margin widened to 23.4% from 16.7%. Meanwhile, the diluted share count fell 9.3% year on year, lifting the claim of each remaining share on the business. Despite these gains, our fundamentals grade slips from A to B+. Our model value has fallen too, from $32.00 to $27.23 a share, well below the current share price of $72.64.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Caredx stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $458m, up 34.4% on a year earlier, faster than the 19.2% growth a quarter earlier. That growth ranks 5 of 34 among the health care services companies we cover. Free-cash-flow margin rose to 17.3% from 1.0% a year earlier. Operating margin widened to 23.6% from 13.5%. The diluted share count is down 9.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades A. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $32.00 a share, against a share price of $72.55.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 18, 2027 (estimated)

Caredx, Inc.'s trailing-twelve-month revenue grew 38.9% year on year, with a free-cash-flow margin of 10.3%. Where it stands out: net margin of 25.9% ranks 2 of 41 health care services companies we cover. Where it lags: stock pay as % of revenue of 7.7% ranks 31 of 35 health care services companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 174% in the quarter to 2026-09-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 38.9% over the last 12 months, against a median of 7.3% for health care services companies we cover.
  • Growth speeding up. The growth rate is 4.5 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 6.8 points on a year ago.
  • Shrinking share count. Diluted shares fell 9.3% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.3bn.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 76% and a beta of 1.2 against the S&P 500.
  • Insiders selling. 7 insiders sold $13M of stock over the past 365 days and none bought (76% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 40% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 7.7% ranks 31 of 35 health care services companies we cover (median 0.9%).
  • Heavily shorted. 13.2% of the shares available to trade are sold short (4.6 days of average volume to cover).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.70 against an average estimate of $0.26: beat by 174.5%
Revenue
$139m, up 39.3% on a year earlier
Share reaction
+21.2% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
revenue $520m to $530m (full year 2026); adjusted EBITDA $90m to $100m (full-year 2026)
Next report
October 29, 2026; average EPS estimate $0.23

Caredx's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.8%
  • 1 week+24.3%
  • 1 month+27.9%
  • This year+355.8%
  • 1 year+472.5%
  • 5 years+76.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$497M
Operating margin
23.4%
Net margin
25.9%
EPS (TTM, diluted)
$2.43

Growth

Revenue growth
+38.9%
Change in growth rate
+4.5 pts
Share count change
−9.3%

Cash

Free cash flow (TTM)
$51.2M
FCF margin
10.3%
Stock pay % of revenue
7.7%

Earnings

Last results
October 29, 2026
Next results (est.)
January 18, 2027

News & updates

Updated November 1, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Insider trade
  5. Results
  6. Insider trade
  7. Insider trade
  8. Deal

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Caredx, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Caredx, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$22 ~$17–$26 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$19–$35 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$7.5 ~$7.6–$21 Left out: out of range vs price (0.09x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$27 ~$23–$32 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$24 ~$22–$27 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Caredx, Inc. with Health Care Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$6.40$2.70$7.34$25.14$21.57$72.45$45.48$11.41$12.00$21.41$18.84$85.88
Market value$76m$45m$171m$896m$909m$3.4bn$2.4bn$608m$645m$1.2bn$1.0bn$4.5bn
+ Net debt (− = net cash)−$14m$7m$17m−$65m−$38m−$135m−$348m−$90m−$82m−$115m−$65m−$250m
Enterprise value$62m$51m$188m$831m$871m$3.2bn$2.0bn$518m$563m$1.1bn$939m$4.3bn
Multiples
Price / sales 2.7x1.1x3.5x11.7x7.2x17.5x8.0x1.9x2.3x3.6x2.6x9.1x
Price / earnings —————————23.1x—35.3x
Price / free cash flow —————100.7x———31.9x23.9x65.8x
EV / EBITDA —————————20.0x—31.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard Caredx's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -14.1% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -20.9%; its worst year was -74.7%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -3.9% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 2.9% over five years; stock-based pay has been a median 12.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (23 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.20 +107% $495m +30%
Next $1.29 +8% $526m +6%

Next year's EPS estimate has moved +13.8% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +28.3% on 90 days ago. In the last 30 days, 5 analysts raised Caredx, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Caredx, Inc., last 90 days
$0.80 $1.00 $1.20 $1.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.93 Current fiscal year, 60 days ago: $1.21 Current fiscal year, 30 days ago: $1.20 Current fiscal year, 7 days ago: $1.20 Current fiscal year, Now: $1.20 $1.20 Next fiscal year, 90 days ago: $1.13 Next fiscal year, 60 days ago: $1.35 Next fiscal year, 30 days ago: $1.33 Next fiscal year, 7 days ago: $1.29 Next fiscal year, Now: $1.29 $1.29

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.93$1.13
60 days ago $1.21$1.35
30 days ago $1.20$1.33
7 days ago $1.20$1.29
Now $1.20$1.29

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.26 $0.70 +174.5%
Jun 2026 $0.23 $0.37 +59.5%
Mar 2026 $0.13 $0.34 +161.5%
Dec 2025 $0.23 $0.12 −47.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Revenue full year 2026 $520m to $530m Raised
    “For the full year 2026, CareDx now expects revenue to be in the range of $520 million to $530 million, compared with its previously disclosed range of $490 million to $500 million.” source
  • Adjusted EBITDA full-year 2026 $90m to $100m Non-GAAP Raised
    “The Company now expects full-year 2026 Adjusted EBITDA to be in the range of $90 million to $100 million, compared with its previously disclosed range of $66 million to $78 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

7 analysts, Oct 2026
Buy571%
Hold229%
Sell00%

Monthly trend

  1. Oct 2026527
  2. Sep 2026527
  3. Aug 2026437
  4. Jul 2026347

Counts of recommendations published by analysts covering Caredx, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.2%
of tradable shares
Days to cover
4.56
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
3.1%
of shares
Employees
761
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +472.5%

$15.00 on October 31, 2025 to $85.88

ThenNowEffect
Revenue (last 12 months) $341m $458m +34.4%
Net margin 17.1% 24.2% +42.1%
P/E multiple 15.0x 40.6x +171.4%
Share count 58m 53m +10.5%

Biggest factor: p/e multiple.

Last 3 years +1261.0%

$6.31 on November 3, 2023 to $85.88

ThenNowEffect
Revenue (last 12 months) $309m $458m +48.1%
P/S multiple 1.1x 9.8x +800.2%
Share count 54m 53m +2.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CDNA−37%−75%+5%+78%−12%+356%
Industry peers (median)−1%−25%+8%−6%−6%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CDNA50%17%50%58%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CDNA−57%−77%−72%−40%−54%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 95% from January 20, 2021 to October 25, 2023. Getting back needed a 1851% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$14.52 – $87.41
From 52-week high
−1.8%
vs 50-day average
+41.5%
vs 200-day average
+152.8%
Volatility (1 year)
76%
Beta vs S&P 500
1.19

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±11.2%
After a week
6 up, 5 down
typical move ±10.1%
After a month
8 up, 3 down
typical move ±13.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +21.2% −2.1% — —
July 30, 2026 +23.4% +2.4% +26.5% +40.6%
April 28, 2026 −4.8% −0.5% −5.3% +3.9%
April 16, 2026 +21.9% +1.5% +14.2% +13.7%
February 24, 2026 −1.8% +1.6% +0.1% −3.8%
January 12, 2026 +17.9% 0.0% +17.9% +15.1%
November 4, 2025 +11.9% −0.8% +13.6% +31.4%
August 6, 2025 −6.1% +0.7% −5.6% +7.5%
April 30, 2025 −16.9% +0.7% −18.5% −6.3%
February 26, 2025 +0.8% −1.5% −2.2% −12.2%
January 13, 2025 −6.7% +0.3% −3.9% +1.4%
November 4, 2024 +1.1% +1.0% +3.1% +14.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Caredx, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Caredx, Inc.
$200M $300M $400M $500M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $280.3M Revenue (TTM), FY24 Q1: $275.1M Revenue (TTM), FY24 Q2: $297.1M Revenue (TTM), FY24 Q3: $312.8M Revenue (TTM), FY24 Q4: $333.8M Revenue (TTM), FY25 Q1: $346.4M Revenue (TTM), FY25 Q2: $340.8M Revenue (TTM), FY25 Q3: $358M Revenue (TTM), FY25 Q4: $379.8M Revenue (TTM), FY26 Q1: $412.8M Revenue (TTM), FY26 Q2: $458.1M Revenue (TTM), FY26 Q3: $497.4M $497.4M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $280.3M
FY24 Q1 $275.1M
FY24 Q2 $297.1M
FY24 Q3 $312.8M
FY24 Q4 $333.8M
FY25 Q1 $346.4M
FY25 Q2 $340.8M
FY25 Q3 $358M
FY25 Q4 $379.8M
FY26 Q1 $412.8M
FY26 Q2 $458.1M
FY26 Q3 $497.4M
Revenue growth, TTM YoY Caredx, Inc.
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -12.9% Revenue growth, TTM YoY, FY24 Q1: -13.9% Revenue growth, TTM YoY, FY24 Q2: -4.0% Revenue growth, TTM YoY, FY24 Q3: 5.3% Revenue growth, TTM YoY, FY24 Q4: 19.1% Revenue growth, TTM YoY, FY25 Q1: 25.9% Revenue growth, TTM YoY, FY25 Q2: 14.7% Revenue growth, TTM YoY, FY25 Q3: 14.5% Revenue growth, TTM YoY, FY25 Q4: 13.8% Revenue growth, TTM YoY, FY26 Q1: 19.2% Revenue growth, TTM YoY, FY26 Q2: 34.4% Revenue growth, TTM YoY, FY26 Q3: 38.9% 38.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -12.9%
FY24 Q1 -13.9%
FY24 Q2 -4.0%
FY24 Q3 5.3%
FY24 Q4 19.1%
FY25 Q1 25.9%
FY25 Q2 14.7%
FY25 Q3 14.5%
FY25 Q4 13.8%
FY26 Q1 19.2%
FY26 Q2 34.4%
FY26 Q3 38.9%
Operating margin (TTM) Caredx, Inc.
-100% -50% 0% 50% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -72.5% Operating margin (TTM), FY24 Q1: -73.3% Operating margin (TTM), FY24 Q2: -61.0% Operating margin (TTM), FY24 Q3: -53.2% Operating margin (TTM), FY24 Q4: 12.2% Operating margin (TTM), FY25 Q1: 14.4% Operating margin (TTM), FY25 Q2: 13.5% Operating margin (TTM), FY25 Q3: 16.7% Operating margin (TTM), FY25 Q4: -8.1% Operating margin (TTM), FY26 Q1: -3.9% Operating margin (TTM), FY26 Q2: 23.6% Operating margin (TTM), FY26 Q3: 23.4% 23.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -72.5%
FY24 Q1 -73.3%
FY24 Q2 -61.0%
FY24 Q3 -53.2%
FY24 Q4 12.2%
FY25 Q1 14.4%
FY25 Q2 13.5%
FY25 Q3 16.7%
FY25 Q4 -8.1%
FY26 Q1 -3.9%
FY26 Q2 23.6%
FY26 Q3 23.4%
FCF margin (TTM) Caredx, Inc.
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -11.7% FCF margin (TTM), FY24 Q1: -17.9% FCF margin (TTM), FY24 Q2: -10.0% FCF margin (TTM), FY24 Q3: -2.1% FCF margin (TTM), FY24 Q4: 7.1% FCF margin (TTM), FY25 Q1: 3.7% FCF margin (TTM), FY25 Q2: 1.0% FCF margin (TTM), FY25 Q3: 7.8% FCF margin (TTM), FY25 Q4: 7.1% FCF margin (TTM), FY26 Q1: 14.0% FCF margin (TTM), FY26 Q2: 17.3% FCF margin (TTM), FY26 Q3: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -11.7%
FY24 Q1 -17.9%
FY24 Q2 -10.0%
FY24 Q3 -2.1%
FY24 Q4 7.1%
FY25 Q1 3.7%
FY25 Q2 1.0%
FY25 Q3 7.8%
FY25 Q4 7.1%
FY26 Q1 14.0%
FY26 Q2 17.3%
FY26 Q3 10.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 20 22 27 28 41 48 77 127 192 296 322 280 334 380 497
Gross profit — — — — — 27 44 82 — — — — — — —
EBITDA −1 −0 2 −11 −34 −17 −11 −19 −16 −21 −66 −189 55 −16 134
Operating income −2 −1 1 −12 −37 −20 −16 −25 −23 −30 −77 −203 41 −31 116
Net income −5 −4 1 −14 −39 −55 −47 −22 −19 −31 −77 −190 53 −21 129
Diluted EPS −$5.01 −$3.50 $0.10 −$1.16 −$2.39 −$2.38 −$1.31 −$0.52 −$0.40 −$0.59 −$1.44 −$3.54 $0.93 −$0.40 $2.43
Growth (year on year)
Revenue — +8.1% +23.6% +3.1% +44.4% +18.9% +58.4% +66.0% +51.3% +54.2% +8.6% −12.9% +19.1% +13.8% +38.9%
EBITDA — — — −732.0% — — — — — — — — — −128.7% +81.1%
Operating income — — — <−999% — — — — — — — — — −175.5% +95.3%
Net income — — — <−999% — — — — — — — — — −140.6% +82.6%
Diluted EPS — — — <−999% — — — — — — — — — −143.0% +101.2%
Margins
Gross margin — — — — — 55.8% 56.9% 64.2% — — — — — — —
EBITDA margin −6.2% −0.9% 6.5% −39.6% −84.7% −34.3% −14.8% −15.0% −8.1% −7.1% −20.4% −67.4% 16.5% −4.2% 27.0%
Operating margin −11.5% −3.9% 4.6% −42.4% −91.9% −42.0% −20.3% −19.3% −11.7% −10.0% −24.0% −72.5% 12.2% −8.1% 23.4%
Net margin −24.7% −16.0% 2.9% −48.7% −97.1% −114.8% −61.1% −17.3% −9.7% −10.3% −23.8% −67.9% 15.7% −5.6% 25.9%
Free-cash-flow margin −9.4% −2.9% −15.0% −38.9% −42.0% −30.0% −7.9% −2.2% 17.4% −6.5% −7.8% −6.6% 11.4% 11.1% 13.9%
Cash flow
Cash from operations −2 −1 −3 −10 −17 −14 −4 −3 33 −19 −25 −18 38 42 69
Capital spending 0 0 1 1 1 0 2 0 0 0 0 0 0 0 0
Free cash flow −2 −1 −4 −11 −17 −14 −6 −3 33 −19 −25 −18 38 42 69
Stock-based pay 0 0 1 1 2 2 7 22 23 36 47 49 66 35 38
Free cash flow after stock pay −2 −1 −5 −12 −19 −16 −13 −25 10 −55 −72 −67 −28 7 31
Balance sheet
Cash 6 5 36 30 17 17 65 38 135 348 90 82 115 65 250
Total debt 0 — 11 16 24 34 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −6 −5 −25 −14 7 17 −65 −38 −135 −348 −90 −82 −115 −65 −250
Diluted shares 1m 1m 9m 12m 16m 23m 36m 42m 46m 52m 53m 54m 57m 53m 53m
Returned to shareholders
Buybacks — — — — — — — — 0 0 1 28 1 88 —
Total returned — — — — — — — — 0 0 1 28 1 88 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $641m
Short-term assets $321mLonger-term assets $320m
What it owes, and who funded it · $641m
Short-term liabilities $139mLonger-term liabilities $35mShareholders' equity $467m
  • Short-term assets cover short-term liabilities $321m of assets due within a year against $139m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $321m short-term assets against $35m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Caredx, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$87.8M
Returned to shareholders
325%
of free cash flow
Buybacks, last 3 fiscal years
$116M
Diluted share count
−9.3%
year over year
Total shareholder yield
1.9%
dividends 0.0% + buybacks 1.9% of market value
R&D spending
17.0%
of revenue
Days sales outstanding
35 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated CDNA STLN USPH VMD DCGO DLHC Median
Revenue, last 12 months $497m $587m $812m $302m $295m $254m $1.2bn
Revenue growth, last 12 months 38.9% 38.4% 11.3% 25.2% −32.4% −29.5% 7.3%
Revenue growth, 3-year average 18.7% 26.1% 11.8% 24.5% −13.3% −9.5% 11.3%
Revenue growth, latest quarter 39.3% 34.6% 8.5% 23.9% −8.7% −46.9% 8.5%
Gross margin 65.5% — 18.7% 57.5% — 24.3% 27.9%
Operating margin 23.4% −4.4% 9.4% 7.5% −62.2% −0.1% 2.3%
Operating margin, 3-year average −4.4% −11.0% 9.0% 7.9% −20.8% 3.5% 2.3%
Net margin 25.9% −6.2% 4.0% 4.8% −65.3% −8.5% 1.2%
Cash from operations / revenue 13.9% 0.1% 10.2% 20.2% −7.7% 5.5% 6.1%
Free-cash-flow margin 10.3% −0.6% 7.9% 9.7% −8.8% 5.5% 5.1%
Free-cash-flow margin, 3-year average 5.3% −5.7% 9.0% 4.1% 1.4% 6.6% 3.6%
Stock pay / revenue 7.7% 0.9% 1.1% 3.0% 4.6% 0.5% 1.1%
Change in share count −9.3% 25.7% 0.2% −1.6% −7.1% 2.2% 0.3%

Median of all 41 companies we cover in health care services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

41 health care services companies
Measure Company Peer median Rank
Revenue growth Growth 38.9% 7.3% 4 of 41
Change in growth rate Growth +4.5pp +1.1pp 7 of 41
Operating margin Profitability 23.4% 2.6% 3 of 40
Net margin Profitability 25.9% 1.2% 2 of 41
Free-cash-flow margin Cash generation 10.3% 5.1% 11 of 40
Stock pay as % of revenue Cash generation 7.7% 0.9% 31 of 35
Change in share count Balance sheet -9.3% 0.4% 2 of 39
Days sales outstanding Balance sheet 35 days 39 days 11 of 31

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Services $274M 72.3% ▲ 10.1%
Patient and Digital Solutions $56.9M 15.0% ▲ 30.5%
Products $48.4M 12.7% ▲ 18.6%
Geography
Region Revenue Share YoY
United States $360M 94.8% ▲ 13.3%
Outside the US $19.9M 5.2% ▲ 23.8%

From Caredx, Inc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
226
Shares held vs prior quarter
▲ 1.6%
Positions opened / closed
51 / 13

Top buyers and sellers, Q2 2026: 127 institutions bought and 81 sold ; the biggest buyer was Divisadero Street Capital Management, LP (+701K shares) and the biggest seller BAMCO Inc (−1.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $137M 4.8M 9.0% ▲ 6.5%
State Street Corp $70.4M 2.5M 4.6% ▼ 10.6%
Vanguard Capital Management LLC $62.6M 2.2M 4.1% ▲ 1.7%
Deerfield Management Company, L.P. $56.9M 2.0M 3.7% ▼ 8.8%
ARK Investment Management LLC $55.7M 2.0M 3.7% ▼ 12.3%
Boston Partners $55.2M 1.9M 3.6% ▲ 2.9%
BAMCO Inc $55.2M 1.9M 3.6% ▼ 41.9%
Gagnon Securities LLC $50.5M 1.8M 3.3% ▲ 0.5%
Chevy Chase Trust Holdings, LLC $41M 1.4M 2.7% ▼ 4.4%
Geode Capital Management, LLC $37.9M 1.3M 2.5% ▲ 5.9%
Ophir Asset Management Pty Ltd $36M 1.3M 2.4% ▲ 28.0%
Renaissance Technologies LLC $35.4M 1.2M 2.3% ▲ 4.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Caredx, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $13.3M 26 trades by 7 insiders · 76% under pre-set plans
Net ▼ $13.3M net selling
Insider Date Trade Shares Price Value
Novack Jeffrey Adam Secretary and General Counsel August 5, 2026 Sell pre-set plan 500 $46.75 $23,375
Novack Jeffrey Adam Secretary and General Counsel August 5, 2026 Sell pre-set plan 2,188 $46.15 $100,976
Bickerstaff George Director August 5, 2026 Sell 20,000 $46.29 $925,800
Goldberg Michael Director August 4, 2026 Sell 44,700 $47.06 $2.1M
Cournoyer Christine Director August 4, 2026 Sell pre-set plan 16,000 $46.94 $751,040
Valantine Hannah Director July 16, 2026 Sell pre-set plan 28,679 $36.14 $1M
Valantine Hannah Director July 16, 2026 Sell pre-set plan 100 $36.55 $3,655
Hanna John Walter Jr President and CEO July 16, 2026 Sell pre-set plan 50,000 $36.11 $1.8M
Hanna John Walter Jr President and CEO July 16, 2026 Sell pre-set plan 68,000 $39.01 $2.7M
Hanna John Walter Jr President and CEO June 29, 2026 Sell pre-set plan 39,900 $29.24 $1.2M
Hanna John Walter Jr President and CEO June 26, 2026 Sell pre-set plan 100 $29.00 $2,900
Valantine Hannah Director June 15, 2026 Sell pre-set plan 12,103 $23.11 $279,700

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 14 trades and filings

No trades in Caredx, Inc. disclosed in the last 12 months; 14 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded March 6, 2023, filed April 17, 2023
  • Tom Malinowski(D-NJ 7):Purchase, $15,001 - $50,000, traded March 2, 2021, filed April 10, 2021
  • Tom Malinowski(D-NJ 7):Sale (partial), $1,001 - $15,000, traded January 11, 2021, filed August 26, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 18, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 28, 2026
  • April 16, 2026
  • February 24, 2026
  • January 12, 2026

Recent SEC filings

Data status

When each part of this page on Caredx, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Caredx, Inc. in brief

What does Caredx, Inc. do?
Caredx, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.
What is Caredx, Inc.'s stock ticker?
Caredx, Inc. trades under the ticker CDNA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Caredx, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Caredx, Inc. reported revenue of $497M, 38.9% higher than a year earlier, according to its SEC filings.
What is Caredx, Inc.'s free cash flow?
Caredx, Inc.'s free-cash-flow margin is 10.3% of revenue over the trailing twelve months, ranking 11 of the 40 health care services companies we cover.
Who are Caredx, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Caredx, Inc. buying back stock, and does it pay a dividend?
Caredx, Inc. spent $87.8M on share repurchases over the trailing twelve months, and its diluted share count fell 9.3% over the year.
What is Caredx, Inc.'s market cap?
On November 2, 2026, Caredx, Inc.'s market capitalisation was about $4.5B, with a price-to-earnings ratio of 35.3 and net debt of -$250M. Market figures come from third-party market data and may be delayed.
Who are Caredx, Inc.'s competitors?
In our Health Care Services peer group, the companies closest to Caredx, Inc. are Starling Oncology, Inc., U S Physical Therapy Inc, Viemed Healthcare, Inc., Docgo Inc. and DLH Holdings Corp. The side-by-side comparison below sets their revenue, margins and growth against Caredx, Inc.'s.
Are insiders buying or selling Caredx, Inc. stock?
Over the last 12 months, Caredx, Inc.'s directors and officers reported 0 open-market purchases and 26 sales on Form 4. The insider trading page charts every trade.
When is Caredx, Inc.'s next earnings date?
Around January 18, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Caredx, Inc. announces its own schedule.