CareDx Expects Q4 Preliminary Revenue Of $65M-$66M, Down Approximately 3% Q/Q; Est. $61.71M
Portfolio Pulse from Benzinga Newsdesk
CareDx, Inc. has announced its preliminary revenue for Q4 to be between $65M-$66M, which represents a decrease of about 3% from the previous quarter. This figure surpasses the estimated revenue of $61.71M. The company also reported that its preliminary cash, cash equivalents, and marketable securities were approximately $235 million as of December 31, 2023.
January 09, 2024 | 12:11 pm
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POSITIVE IMPACT
CareDx's Q4 preliminary revenue outperformed estimates, but showed a quarterly decrease. Strong cash position may reassure investors.
The preliminary revenue figure for CareDx is higher than the estimated revenue, which is a positive signal for investors and could lead to a short-term increase in stock price. However, the quarter-over-quarter decrease might temper gains. The company's strong cash position is a positive indicator of financial health, which could further support the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100