CareDx Reports Q2 2025 Revenue of $86.7 Million, Net Loss of $8.6 Million

CareDx, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $86.7 million, a decrease of 6% compared to $92.3 million in the same period last year. The decline was primarily driven by a 13% drop in testing services revenue, which amounted to $62.0 million, down from $70.9 million in the prior year. This decrease was attributed to adjustments related to prior period tests and lower collections for tests performed in the current quarter. However, product revenue increased by 12% to $11.8 million, and patient and digital solutions revenue rose by 19% to $12.8 million, reflecting growth in these segments.

In terms of profitability, CareDx reported a net loss of $8.6 million for the quarter, compared to a loss of $4.6 million in the same quarter of 2024. The increase in net loss was influenced by higher operating expenses, which totaled $97.8 million, slightly down from $99.6 million a year earlier. Notably, litigation settlement expenses of $350,000 were recorded in the current quarter, contributing to the overall loss. The company’s cash, cash equivalents, and marketable securities stood at $186 million as of June 30, 2025, following a $50 million share repurchase program completed during the quarter.

Operationally, CareDx reported a testing services volume of 49,500, which represented a 13% increase year-over-year. The company continues to focus on expanding its product offerings and enhancing its digital solutions, which have shown promising growth. The company has also initiated several clinical studies to support its existing and future testing services, aiming to maintain its leadership in the transplantation market.

Geographically, the majority of CareDx's revenue continues to come from the United States, with testing services revenue from the U.S. at $61.7 million, down from $70.7 million in the previous year. The company is also actively pursuing international expansion and has established partnerships to enhance its product offerings. As of June 30, 2025, CareDx had a total employee headcount of approximately 500, reflecting its commitment to growth and operational efficiency.

Looking ahead, CareDx anticipates continued growth in its patient and digital solutions segments and aims to improve its testing services revenue through enhanced collections and new product launches. The company remains focused on addressing its operational challenges and is committed to strengthening its internal controls, particularly in light of a material weakness identified in its financial reporting processes. CareDx's management believes that its existing cash reserves and operational strategies will be sufficient to meet its anticipated cash requirements for the next 12 months.