CareDx (CDNA) Q1 2026 earnings summary

Executive summary

• Achieved Q1 2026 revenue of $118 million, up 39% year-over-year, with strong growth in Testing Services and Patient & Digital Solutions; net income reached $3 million, reversing a prior year loss.

• Testing Services revenue rose 48% to $91 million, with volumes up 17% and average revenue per test at $1,660.

• Announced divestiture of Lab Products business for $170 million, sharpening focus on core precision medicine and digital solutions.

• Announced acquisition of Naveris/Navoris, expanding into viral-mediated cancer MRD with a differentiated, Medicare-covered platform and $34 million estimated 2025 revenue.

• Adjusted EBITDA increased to $19 million, up over 300% year-over-year, reflecting operational efficiency.

Financial highlights

• Q1 2026 total revenue was $118 million, up from $85 million year-over-year; Testing Services revenue grew 48% to $91 million.

• Patient and Digital Solutions revenue increased 33% to $16 million; Lab Products revenue declined 4% to $10 million.

• Non-GAAP gross margin reached 73%; GAAP gross margin improved to 71% from 66% year-over-year.

• Adjusted EBITDA was $19 million, margin 16%; free cash flow improved to $514,000 from negative $28.2 million.

• Ended quarter with $198 million in cash and no debt.

Outlook and guidance

• Raised 2026 revenue guidance to $447–$465 million (20% year-over-year growth at midpoint); adjusted EBITDA guidance $43–$57 million (58% growth at midpoint).

• Testing volume expected between 224,000–229,000 tests for 2026, a 13% increase year-over-year.

• Testing services revenue guided at $337–$351 million (25% growth at midpoint); patient digital revenue at $63–$66 million (13% growth).

• Product revenue expected flat at $45–$50 million; gross margins modeled at 68–71%; operating expenses $68–$70 million per quarter.

• No Navoris contribution included in current 2026 guidance.