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Diagnostics & research · Healthcare · Fiscal year ends Dec 31
CareDx reported revenue of $380M in the fiscal year ended Dec 2025, up 13.8% from the year before. Operating income was −$31M, an operating margin of −8.1%, and net income was −$21M.
Ranks among the 31 diagnostics & research companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 296 | 322 | 280 | 334 | 380 |
| Research & development | 76.5 | 90.4 | 82.4 | 72.5 | 71.4 |
| Selling, general & admin | 152 | 196 | 203 | 207 | 210 |
| Operating income | −29.7 | −77.2 | −203 | 40.8 | −30.8 |
| Pre-tax income | −32.1 | −76.2 | −190 | 52.9 | −21.1 |
| Income tax | −1.4 | 0.4 | 0.1 | 0.3 | 0.3 |
| Net income | −30.7 | −76.6 | −190 | 52.5 | −21.4 |
| Diluted EPS | −0.59 | −1.44 | −3.54 | 0.93 | −0.40 |
| Diluted shares | 52.2 | 53.3 | 53.8 | 56.6 | 53.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 348 | 89.9 | 82.2 | 115 | 65.4 |
| Receivables | 59.8 | 66.3 | 51.1 | 64.6 | 42.6 |
| Inventory | 17.2 | 19.2 | 19.5 | 19.5 | 26.7 |
| Current assets | 433 | 388 | 314 | 352 | 257 |
| Net PP&E | 22.0 | 35.5 | 35.2 | 33.6 | 33.0 |
| Goodwill | 37.0 | 37.5 | 40.3 | 40.3 | 40.3 |
| Total assets | 567 | 543 | 467 | 491 | 413 |
| Payables | 13.3 | 9.9 | 12.9 | 7.7 | 10.0 |
| Deferred revenue | 4.2 | 5.3 | 4.7 | 4.8 | 4.7 |
| Current liabilities | 77.3 | 76.0 | 78.1 | 89.4 | 89.8 |
| Total liabilities | 101 | 112 | 205 | 113 | 110 |
| Shareholders' equity | 466 | 431 | 261 | 378 | 303 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −19.3 | −25.2 | −18.4 | 38.0 | 42.0 |
| Depreciation & amortisation | 8.8 | 11.6 | 14.4 | 14.2 | 15.0 |
| Stock-based compensation | 36.1 | 46.6 | 49.1 | 66.4 | 34.9 |
| Acquisitions | 15.4 | 0.6 | 6.7 | 0.0 | 0.0 |
| Share buybacks | 0.0 | 0.6 | 27.5 | 0.5 | 87.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 8.6% | −12.9% | 19.1% | 13.8% |
| Operating income growth (YoY) | – | – | – | – | −175.5% |
| EPS growth (YoY) | – | – | – | – | −143.0% |
| Operating margin | −10.0% | −24.0% | −72.5% | 12.2% | −8.1% |
| Net margin | −10.3% | −23.8% | −67.9% | 15.7% | −5.6% |
| Return on equityBlank when equity is negative | −6.6% | −17.8% | −72.8% | 13.9% | −7.0% |
| ROCEEBIT ÷ (assets − current liabilities) | −6.1% | −16.5% | −52.3% | 10.1% | −9.5% |
| Cash conversion (CFO ÷ net income) | 0.63x | 0.33x | 0.10x | 0.72x | −1.97x |
| Receivable days | 74 | 75 | 66 | 71 | 41 |
| Current ratio | 5.61x | 5.10x | 4.02x | 3.94x | 2.86x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.