Close Menu

financial results

The company fell short of the consensus Wall Street revenue estimate, while its net loss for the quarter also widened.

The company had $1.1 million in revenue during the quarter, a 10 percent increase year over year despite what the firm said was a 15 to 20 percent sales reduction due to recent hurricanes.

Though revenues from its non-invasive heart transplant rejection test AlloMap fell about 5 percent, CareDx is already being reimbursed by Medicare for its new AlloSure test.

The revenue increase was primarily driven by increased revenue in the company's biopharma services, clinical services, and discovery services divisions.

The firm saw a 6 percent increase in fiscal fourth quarter revenues, with growth in both its diagnostics and life science segments.

The company reported a doubling of its third quarter revenues on strong demand for its sexually transmitted disease testing products.

The firm's 14 percent growth in molecular diagnostics sales was driven primarily by continued strength across its Aptima women's health products globally.

The molecular diagnostics company reported total revenues of $56.7 million in the quarter, and saw its testing volume grow 15 percent over Q3 2016.

Revenues at BioReference Labs fell short in the quarter but are expected to grow in the fourth quarter and next year, the company said

Test volume was up 5 percent, but the company's total revenue of $83.8 million was negatively affected by hurricanes in the US, company executives said.

Pages