CareDx (CDNA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $132 million, up 52% year-over-year, driven by strong growth in testing services, patient and digital solutions, and successful integration of NavDx/Naveris.

• GAAP net income was $111 million, reversing a prior year loss, primarily due to operational performance and a $113 million gain from the Lab Products business sale.

• Adjusted EBITDA rose to $25 million (19% margin), reflecting improved gross profit and operational efficiency.

• Completed the divestiture of Lab Products and acquired Naveris, expanding into specialty oncology and reinforcing focus on precision diagnostics.

• Ended the quarter with $374 million in cash and no debt.

Financial highlights

• Testing services revenue grew 61% to $100 million, with volume up 17% to 58,000 tests and average revenue per test at $1,720.

• Patient and digital solutions revenue increased 50% to $19 million; Lab Products revenue rose 8% to $13 million before divestiture.

• Non-GAAP gross margin reached 74%; adjusted EBITDA increased $19 million to $25 million (19% of revenue).

• GAAP net income per basic share was $2.15; diluted EPS was $2.07.

• Cash flow from operations was $31 million; free cash flow reached $28.7 million.

Outlook and guidance

• 2026 revenue guidance raised to $490–$500 million (30% year-over-year growth at midpoint).

• Adjusted EBITDA guidance increased to $66–$78 million (15% of revenue at midpoint).

• Testing volume guidance: 258,000–266,000 for 2026, with specialty oncology volumes up 30% in H2.

• Non-GAAP gross margin guidance: 71%–73%.

• Guidance includes 1H results for Lab Products and 2H results for Naveris, with $24 million estimated 2H revenue from Specialty Oncology.