CDNA CareDx Inc

---

---

Exhibit 99.1

 

CareDx Reports Preliminary Revenue Results for Fourth Quarter and Full Year 2023

BRISBANE, Calif. — (BUSINESS WIRE)—January 9, 2024, CareDx, Inc. (Nasdaq: CDNA) – The Transplant Company^™ focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers –today reported preliminary financial results for the fourth quarter and full year ended December 31, 2023.

Fourth Quarter and Full Year 2023 Highlights

 

•

Full year 2023 revenue is expected to be in the range of $279 million to $280 million, which is above the high end of guidance for fiscal year 2023.

 

•

Testing Services patient results grew for the second quarter in a row to approximately 39,900, an increase of 4% as compared to the third quarter of 2023.

 

•

Fourth quarter revenue for Testing Services is expected to be between $46 million and $47 million, a decrease of 3% as compared to the third quarter of 2023, which included one-time items previously discussed during third quarter earnings call.1

 

•

Full year revenue for Patient and Digital Solutions is expected to be approximately $37 million and for Products is expected to be approximately $33 million, up 29% and 14% year-over-year, respectively.

 

•

Repurchased 2.8 million shares of common stock for $26 million under share buyback program.

 

•

Maintained a strong balance sheet, with approximately $235 million in cash and cash equivalents and marketable securities, with no debt.

 

•

Achieved the fifth consecutive quarter of collections at over 100% of revenue for Testing Services.

 

•

Supported hundreds of transplant patient advocates on Capitol Hill urging President Biden and Health and Human Services (HHS) Secretary Becerra to restore Medicare coverage for molecular blood testing.

Preliminary revenue for the three months ended December 31, 2023, is expected to be between $65 million and $66 million, a decrease of approximately 3% compared with $67.2 million in the third quarter of 2023. Testing services revenue for the fourth quarter is expected to be between $46 million and $47 million, compared with $47.8 million in the third quarter of 2023 and compared with $65.4 million in the same period in 2022. Total AlloSure^® and AlloMap^® patient results provided in the fourth quarter were approximately 39,900. Patient and Digital Solutions revenue for the fourth quarter is expected to be $9.7 million, compared to $8.4 million in the same period in 2022. Product revenue for the fourth quarter is expected to be $9.2 million, compared to $8.6 million in the same period in 2022.

---

Preliminary revenue for the full year ended December 31, 2023, is expected to be between $279 million and $280 million, a decrease of approximately 13% compared with $321.8 million in 2022, primarily driven by the impact of the Medicare Billing Article on Testing Services revenue. Testing services revenue for 2023 is expected to be between $209 million and $210 million, compared with $263.7 million in 2022. Patient and Digital Solutions revenue for 2023 is expected to be $37.2 million, compared to $28.8 million in 2022. Product revenue for 2023 is expected to be $33.5 million, compared to $29.3 million in 2022.

Preliminary cash, cash equivalents, and marketable securities were approximately $235 million as of December 31, 2023.

“After setting a new volume baseline in Testing Services in the third quarter of 2023, we finished the year with upward momentum. The fourth quarter showed a second sequential quarter of patient testing volume growth,” said Alex Johnson, President of Patient and Testing Services, and a member of the Office of the Chief Executive Officer at CareDx. “Our team continues to execute well as we advance transplant patient care.”

The preliminary financial information presented in this press release is based on CareDx’s current expectations and may be adjusted as a result of, among other things, the completion of customary annual audit procedures. CareDx will report its fourth quarter and full year 2023 financial results, and anticipates providing 2024 financial guidance during its earnings call for the fourth quarter of 2023.

About CareDx – The Transplant Company

CareDx, Inc., headquartered in Brisbane, California, is a leading precision medicine solutions company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. CareDx offers testing services, products, and digital healthcare solutions along the pre- and post-transplant patient journey, and is the leading provider of genomics-based information for transplant patients. For more information, please visit: www.CareDx.com.

Forward Looking Statements

This press release includes forward-looking statements, including expectations regarding CareDx’s fourth quarter and full year 2023 revenue, number of patient results, and cash, cash equivalents, and marketable securities as of December 31, 2023, its ability to advance transplant patient care, its prospects in 2024, and its anticipation to report 2023 financial results and provide 2024 financial guidance during its earnings call for the fourth quarter of 2023. These forward-looking statements are based upon information that is currently available to CareDx and its current expectations, speak only as of the date hereof, and are subject to

---

numerous risks and uncertainties, including the completion of the audit of CareDx’s 2023 financial statements, general economic and market factors, and global economic and marketplace uncertainties, among others discussed in CareDx’s filings with the Securities and Exchange Commission (the “SEC”), including the Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed by CareDx with the SEC on February 27, 2023, the quarterly report on Form 10-Q for the quarter ended March 31, 2023 filed by CareDx with the SEC on May 10, 2023, the quarterly report on Form 10-Q for the quarter ended June 30, 2023 filed by CareDx with the SEC on August 8, 2023, and the quarterly report on Form 10-Q for the quarter ended September 30, 2023 filed by CareDx with the SEC on November 8, 2023, and other reports that CareDx has filed with the SEC. Any of these may cause CareDx’s actual results, performance, or achievements to differ materially and adversely from those anticipated or implied by CareDx’s forward-looking statements. CareDx expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

CareDx, Inc.

Media Relations

Anna Czene

818-731-2203

aczene@caredx.com

Investor Relations

Greg Chodaczek

investor@caredx.com

Reference

 

1.

In the third quarter of 2023, MolDX covered HeartCare® for use in heart transplant surveillance for the first 12 months post-transplant. HeartCare tests not meeting the coverage criteria were not recognized in revenues in the third quarter, post Noridian adoption of the Billing Article. Lastly, revenues in the third quarter were positively impacted by a one-time claims settlement with a large Medicare advantage payer for outstanding claims.

Exhibit 99.2 ™ The Transplant Company Focused on improving care across the entire transplant patient journey Corporate Presentation January 9, 2024 Patrick G. Kidney Transplant Recipient

---

Safe Harbor Statement These slides and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation, including statements regarding the future financial position of CareDx®, Inc. (together with its subsidiaries, “CareDx” or the “Company”), including financial targets, business strategy, and plans and objectives for future operations, are forward-looking statements. CareDx has based these forward-looking statements on its estimates and assumptions and its current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those contained in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q that the Company has filed or may subsequently file with the U.S. Securities and Exchange Commission (the “SEC”). In light of these risks, uncertainties and assumptions, the forward- looking events and circumstances discussed in this presentation are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. CareDx undertakes no obligation to update publicly or revise any forward-looking statements for any reason after the date of this presentation or to conform these statements to actual results or to changes in CareDx’s expectations. These slides and the accompanying oral presentation contain certain non-GAAP financial measures, which are provided to assist in an understanding of the business and performance of CareDx. These measures should always be considered only as a supplement to, and not as superior to, financial measures prepared in accordance with GAAP. Please refer to the Appendix included in these slides for a reconciliation of the non-GAAP financial measures included in these slides and the accompanying oral presentation to the most directly comparable financial measures prepared in accordance with GAAP. Certain data in this presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data or undertakes any obligation to update such data after the date of this presentation. Such data involves risks and uncertainties and is subject to change based on various factors. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company. 2

---

Office of the Chief Executive Officer Update Michael Goldberg, Board Chairperson

---

Office of the Chief Executive Officer Update Michael Goldberg Abhishek Jain Alex Johnson Board Chairperson Chief Financial Officer President of Patient & Testing Services • Confidence in leadership and bench strength • Strong business performance in Q3 and Q4 2023 • Search underway for new Chief Executive Officer 4

---

CareDx Leadership Office of the Chief Executive Officer Michael D. Goldberg Abhishek Jain Alexander L. Johnson BOARD CHAIRPERSON CHIEF FINANCIAL OFFICER PRESIDENT OF PATIENT & TESTING SERVICES Executive Leadership Robert N. Woodward, PhD Marica Grskovic, PhD Kashif Rathore GS Jha Stacey Follon Jeffrey A. Novack CHIEF SCIENTIFIC OFFICER CHIEF OPERATIONS OFFICER CHIEF OF PATIENT AND SVP, CHIEF INFORMATION SENIOR VICE PRESIDENT, GENERAL COUNSEL DIGITAL SOLUTIONS OFFICER & CHIEF HEAD OF HUMAN INFORMATION SECURITY RESOURCES OFFICER 5

---

Transplant Vision and Growth Strategy Alex Johnson, President of Patient & Testing Services, Office of the Chief Executive Officer

---

Our Vision The leading partner for the transplant ecosystem Our Mission We are committed to improving long-term outcomes by providing innovative solutions throughout the entire transplant patient journey Patrick G. Kidney Transplant Recipient 7

---

CareDx Key Highlights We are in early stages of a $6B+ market opportunity in transplant care, serving some of the 1 highest need patients in the US healthcare system Our strategy is to develop and provide best in class, reimbursed high value clinical solutions 2 to patients to extend allograft survival Our ability to ‘go deep’ in transplant enables us to understand the unmet clinical needs in the 3 market and continue our leadership We will continue to innovate and redefine patient care with the team that brought 4 sequencing and AI innovation to the transplant clinic We are set up to efficiently allocate capital to deliver growth and strong shareholder returns 5 8

---

Serving High-Cost Patient Population with Large Unmet Need Delivering Clinical Solutions to Help Extend Allograft Survival Transplant Patients Need Opportunity to Improve Care Along Better Care Transplant Patient Journey • Among highest need patients in US healthcare system • Created market standard in gene expression 1 profiling with AlloMap and in dd-cfDNA surveillance • Within 5 years of transplant: with AlloSure • 1 in 5 kidneys fail • 1 in 3 hearts fail • Improving clinical utility through combination of multi- • 1 in 2 lungs fail modality surveillance technologies • Next generation: • Unmet need: Balance immunosuppression & infection • Driving better patient management and adherence rejection with a robust suite of digital health tools 2 • End stage renal disease is costly: ~$37B in 2020 2 • ~6.1% of ALL Medicare expenditures in 2020 • Creating future standards for xenotransplant, and stem cell and cell transplant monitoring • Transplantation is more cost-effective • Annual Centers for Medicaid & Medicare Services (CMS) spend on kidney transplant maintenance is less 2 than half dialysis cost 9 1.HRSA OPTN Data; 2. NIH NIDDK, United States Renal Data System (USRDS) 2022 Annual Data Report (ADR).

---

CareDx Leading with Innovation for 25 Year FIRST FIRST FIRST FIRST FIRST FIRST FIRST Gene Expression Validated Transplant Validated CareDx GEP and dd- Medicare Profiling for dd-cfDNA Center Multi-Modality AI Enabled cfDNA for Coverage for Transplant for Kidney EMR in Heart Tools Xeno Multimodality Transplant Transplant HeartCare Transplant System 2005 2016 2019 2020 2020 2022 2023 HLA AiKidney Typing 1998 2006 2010s 2017 2020 2020 2021 2023 Founded AlloMap Built AlloSure Kidney Tx Patient App AlloSure FIRST AlloSure Lung Heart Portfolio of Medicare Home Heart Validated Medicare Medicare HLA Typing Coverage Phlebotomy Medicare dd-cfDNA for Coverage Coverage Solutions Service Coverage Lung Transplant Source: Data on file. 10 10

---

CareDx Focused on $6B TAM Opportunity in Transplant TESTING SERVICES PRODUCTS DIGITAL U.S. Global Global 1.5M+ Users ~400,000 Patients 1.5M+ Patients >1,000 Top 150 Centers perform >1,000 majority of all transplants Labs & Centers Centers & Ecosystem Robust TAM continues Post EMR & Patient Engagement HLA Typing & Surveillance Billing Article $4B+ $1B+ $1B+ Source: Data on file. TAM does not include cell therapy. 11 11

---

1 A Growing Transplant Market with Potential to Double in 5-10 Years 1 Longer Term Trends Near Term Upsides Perfusion Growth Tailwinds Today Mid-single digit CMS /Kidney Care Recovery in annualized growth Choices (KCC) living donors 40K transplants of transplant incentives 2 4 annually in US market Donation After Increased ~400K living with Opportunity: Circulatory Death utilization of transplanted solid Patients 3 years (DCD) organs 3 organ in US post-transplant from allocation who have not Xeno changes Early stages of received non- & Engineered adoption curve invasive testing Organs 1. Internal estimates based on drivers; 2.OPTN HRSA data; 3. Data on file; 4. Based on UNOS transplant growth. Data on file. 12

---

CareDx Testing Services Strategy Bring next Be the generation of partner of innovation to choice for the transplant transplant clinic centers Increase Grow adoption of reimbursement AlloMap and and coverage AlloSure through clinical data and evidence 13

---

CareDx Testing Services Strategy Integrated, sticky offerings across care journey Be the Bring next Scale coverage of all partner of generation of major transplant centers choice for innovation to transplant the transplant centers Next-gen collaborations clinic for research & innovation Increase Grow adoption of reimbursement AlloMap and and coverage AlloSure through clinical data and evidence 14

---

Testing Services Strategy – Increase Patient Uptake and Adoption Bring next Be the generation of partner of innovation to choice for “Build back AlloSure the transplant transplant Kidney via new clinic centers transplant center “Billing Article” protocols Grow Increase Expand HeartCare reimbursement adoption of with data and and coverage AlloMap and differentiation AlloSure Address unmet through clinical need in lung with data and AlloSure Lung dvidence 15

---

Testing Services Strategy – Expand Coverage Bring next Be the generation of partner of innovation to choice for the transplant Add private payer Transplant clinic coverage for Centers AlloSure Kidney and HeartCare Increase Grow adoption of Publish surveillance reimbursement AlloMap and data via KOAR and coverage AlloSure through clinical Re-engineer test data and intake and billing evidence appeals process 16

---

Testing Services Strategy – Innovate in Our Core Continue to innovate at scale Bring next in core portfolio generation of Be the Expand multi- innovation to partner of modality with the transplant choice for new covered tests clinic transplant centers Scale AI and decision support Increase Grow tools adoption of reimbursement Incubate opportunity AlloMap and and coverage in new areas, AlloSure e.g., cell therapy through clinical data and evidence 17

---

New Testing Services Volume Baseline Set in Second Half of 2023 Created Platform for Growth Base Financial Model Now Assumes Continued Impact of Billing Article Billing Article successfully operationalized internally ü Systems and Ordering Updating: 90%+ Completed Q3'23 ü Center and Clinician Education: 90%+ Completed Q3'23 ü OpEx and Cost Controls: Completed Q3'23 and Q4'23 actions; efficiency opportunities continue ü Budget Planning: Assumes Billing Article becomes “Policy” with LCD finalization “Billing Article” Timeline and LCD Next Steps Future Aug 2023 Nov 2023 March 2023 May 2023 • Billing Article • MolDX Issues • LCD Finalization • LCD Public Comment Period • 2nd Billing Article • Effective from Proposed LCD Over March 31, 2023 18

---

CareDx Supporting Transplant Community Advocating Against Medicare Rollbacks with CMS & Biden Administration Professional Society Engagement Patient Advocacy Senator Gillibrand (D-NY) speaking at Honor the Gift Press Conference held on Capitol Hill, December 5, 2023. Congressional Efforts National Media Coverage Meetings with CMS and Contractors 19

---

Clinical Studies and Pipeline Innovation Robert Woodward, PhD, Chief Scientific Officer

---

CareDx Continues to Build New Solutions and Key Evidence 20+ years of unmatched evidence development for non-invasive 1 testing Multi-center study data demonstrate additional clinical scenarios 2 1,2 Society guidelines recommend use of CareDx testing services 3 Investments in multi-center studies to provide key evidence for 4 payer coverage in 2024 and 2025 Pipeline of future launches will both complement and enhance 5 existing testing services 1. ESOT Consensus Conference Highlight Report, November 2022; 2. The International Society for Heart and Lung Transplantation (ISHLT) Guidelines for the Care of Heart Transplant Recipients. Jnl of Heart and Lung Transplantation. December 2022. 21

---

Growing Evidence Supporting Clinical Utility and Adoption Products Goals 2024 Data Sources KOAR KIDNEY OKRA Surveillance not tied to Biopsy AlloSure Kidney National Expanded For-Cause Uses Databases HEART SHORE Utility of Multimodality AlloMap Heart Single-center HeartCare Utility > 1 year AlloSure Heart publications AlloSure Pediatrics Validation HeartCare ALAMO LUNG Expanded, Repeated Utility Single-center AlloSure Lung Surveillance Value publications 22

---

Guidelines and Evidence from Studies to Support Payer Coverage In Progress: CareDx Sponsored Studies Types of Evidence to Support Coverage Name Area Centers Patients KOAR Kidney Transplant Outcomes >55 >1,700 - Improve immediate OKRA Kidney Transplant Outcomes >60 >1,900 outcomes SHORE Heart Transplant Outcomes >60 >2,700 ALAMO Lung Transplant Outcomes 20* 500* - Improve long-term MAPLE Liver Transplant Test development and validation 30* 1,500* outcomes ACROBAT Utility for Stem Cell Transplant 11 >300 - Benefits of expanded use earlier/later Clinical Guidelines Established post-transplant ESOT Consensus 2023 ISHLT - Test-driven Guidance – Guidelines personalized care All Organs for Heart - Health economics *Targets 23

---

Differentiation Through Complementary Multi-Modality Pipeline UroMap AlloMap Kidney HistoMap Product Urine Gene Expression Profiling Blood Gene Expression Profiling Biopsy Gene Expression Profiling − Early use − Gene Expression Profiling − BK differentiation (GEP) Added Mechanism − Quantified Method for − Urine analyte approach Differentiation − Potential type of Rejection Rejection Diagnosis − Potential type of Rejection Diagnosis Diagnosis − CMS Coverage in Process − Additional Publications − CMS Coverage in Process − Additional Publications in 2024 Underway − Additional Analysis Process Outlook − Multimodality Studies Underway − Path to CMS Coverage Underway 24

---

Differentiation Through Digital Decision Support AiKidney: AlloView Heart: AiCAV Product AiKidney: iBox − Predictive Algorithm − Cardiac Allograft with Multiple Inputs Vasculopathy (CAV) − Prognostic Algorithm Differentiation to Further Educate Diagnosis from on Rejection Risk AI-Derived Algorithm − Leverage 2023 2024 − Wide Availability Publications − In Development Upon Publication Outlook − Further Tools Incorporation 25

---

Patient Journey Expansion and Moat Kashif Rathore, Chief of Digital Health and Patient Solutions

---

Summary: Patient Journey Expansion and Digital Moat One Stop for Transplant Centers Significant interest from clinicians to improve patient management using intelligence 1 and data driven solutions Digital and Patient business grew 29% in FY'23 compared to FY'22, primarily driven by 2 success of acquisitions and contribution by SaaS revenue CareDx offers an integrated portfolio of high impact solutions with CareDx Pro 3 Our Patient and Digital services moat reinforces CareDx as the partner of choice for 4 transplant centers Continued focus on high value Digital and Lab Testing services that extend allograft 5 survival and monitoring for patients 27

---

Growing Transplant Center Presence Over 70% of Organ Transplant Centers Use One or More Digital Patient Journey Solutions* Patient Operational Lab Logistics Outcomes Management Support Management Support Quality Center 70% Penetration* Centers using 1 or more CareDx patient and digital solutions Digital Products * Center penetration and growth opportunity based on UNOS listed transplant centers in 2023; does not include non-transplant hospitals. Data on file and as of December 31, 2023 28

---

Patient and Digital Solutions Moat In Transplant Center Ecosystem Integrated Patient Care Solutions From One Company, CareDx Transplant Account Manager Lab CLIA Team Patient Care Managers TRANSPLANT Medical Science Liaison Remote Care Navigators CENTERS Field Lab Services Team Transplant Coordinator Assistants TRANSPLANT ECOSYSTEM Laboratory 3 Operational Logistics CarePortal Patient Quality Management Support Support Management Improvement 29

---

CareDx Pro Provides a Seamless Transplant Center Experience Eases Access to Digital and Testing Services Offerings Before CareDx PRO With CareDx PRO Individual product interfaces, per center One interface, per center CENTER CENTER CENTER CENTER CENTER CENTER CENTER CENTER CENTER CENTER Deployed by CENTER CENTER over 30 New Digital Offering New Digital Offering customers …200+ centers …200+ centers Unified Single Framework Plug-and-Play 30

---

CareDx PRO: How it Works Once in place, any CareDx solution can be enabled by CareDx B CareDx PRO button is placed right within clinician A CareDx PRO EMR workflow This is the EMR i.e., Epic or Cerner D Selected CareDx Solution C Appears Here Digital solutions Clinicians can open right within navigate between clinician EMR any CareDx workflow solution (similar to navigating between software in Microsoft Office 365) 31

---

Financial & Operational Highlights Abhishek Jain, Chief Financial Officer Office of the Chief Executive Officer

---

Preliminary Q4 and FY 2023 Financial Highlights Preliminary FY'23 revenue in the range of $279M to $280M; which is above the high end 1 of guidance for FY'23 Patient test services results grew for the second quarter in a row at approx. 39,900; an 2 increase of 4% as compared to Q3'23 Preliminary Testing Services revenue for Q4'23 in the range of $46M and $47M, a decrease of 3% 3 1 as compared to Q3'23 which included one-time items previously discussed in Q3 earnings call Preliminary revenue for Patient and Digital Solutions for FY'23 is $37M and for Products is $33M, 4 up approx. 29% and 14% year over year, respectively 5 Repurchased 2.8M shares of common stock in Q4'23 for $26M under share buyback program Strong balance sheet and cash position of $235M as of December 31, 2023 6 1. MolDX covered HeartCare for use in heart transplant surveillance, effective April 1, 2023, for the first 12 months post-transplant. HeartCare tests not meeting the coverage criteria were not recognized in revenues in the third quarter, post Noridian adoption of the Billing Article. Lastly, revenues in the 33 third quarter were positively impacted by a one-time claims settlement with a large Medicare advantage payer for outstanding claims.

---

FY'23 Preliminary Revenue Above High End of Guidance Solid Growth in Products and Digital Solutions Businesses; Testing Services Impacted by Billing Article (in millions of dollars) FY'23 Preliminary Revenue Testing Services Impacted by Billing Article -13% 322 -21% ~279-280 264 ~209-210 Solid Growth in Products and Digital Business +29% +14% 37 33 29 29 Product Patient and Digital Total Solutions & Other FY2022 FY2023 34

---

Billing Article Impacted Product Mix Cardiothoracic Now Represents about 60% of Volume and over 50% in Revenues Volume Revenue 100% 100% 50% 50% 0% 0% Before After Before After Billing Article Billing Article Billing Article Billing Article Abdominal Cardiothoracic Abdominal Cardiothoracic Note: Abdominal includes Kidney and Cardiothoracic includes Heart, Lung. 35

---

Testing Services Volumes Have Stabilized Post the Billing Article Impact and Are Now Growing 60,000 Billing Article Impact 40,000 20,000 0 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 36 Back to Growth

---

Focus on Significant Commercial Payors Coverage Opportunity PAYOR MIX 100% Large Opportunity on Non- Reimbursed Tests 50% • Focus on Commercial Coverage 30% • Purpose-designed studies and analysis to gain Medicare coverage 0% • Re-engineered test intake and billing appeals Volume Revenue process Commercial Medicare 37

---

Coverage Successes in FY'2023 Cardiothoracic Abdominal 7.5M 7.5M New Lives Added NA 31.5M Expanded Coverage Added in FY ’23 Added in FY ’23 • 4 Blues Plans • 1 National • 3 Large Regional • 2 Blues Plans Expansion • 1 Large National • National 38

---

Cash Collection Continues to Stay Strong th Cash Collections Above Testing Services Revenue for 5 Consecutive Quarter Ratio of Cash Collections to Revenue 120% Collected ~$17M More in Cash as Compared to FY'23 Preliminary Revenue Scaled infrastructure 100% 80% 0% FY2021 FY2022 FY2023 Q1’23 Q2’23 Q3’23 Q4’23 39

---

Billing Article Impact and Mitigating Actions Actions Taken in Q2/Q3: $50-$60M 1. Swift operational implementation of Billing Article requirements and stabilization of Testing Services volumes 2. Immediate cost reductions as announced in Q2'23 of $40-$50M BILLING ARTICLE IMPACT ON ADJUSTED EBITDA Q4 and Beyond: Path to Adjusted EBITDA Profitability/Positive Operating Cash Flow ~$100M 1. Further cost and workforce reductions undertaken in Q4’23. Focus on legal and other operating expenses 2. Profitable organic growth 3. Continued focused efforts on collection 40

---

CareDx Leadership in Growing Transplant Market with a Differentiated Financial Phenotype Large TAM & Strong Gross Strong Cash Path to Testing Services Opportunities Margins Position of Profitability Volume to Grow $235M and Positive Stabilized and Profitably GM Expansion Operating Growing Testing Services for Products and No Debt Cashflow Volumes Digital Solutions 41

---

42

v3.23.4

Document and Entity Information	Jan. 09, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001217234
Document Type	8-K
Document Period End Date	Jan. 09, 2024
Entity Registrant Name	CAREDX, INC.
Entity Incorporation State Country Code	DE
Entity File Number	001-36536
Entity Tax Identification Number	94-3316839
Entity Address, Address Line One	8000 Marina Boulevard
Entity Address, City or Town	Brisbane
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94005
City Area Code	(415)
Local Phone Number	287-2300
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, $0.001 Par Value
Trading Symbol	CDNA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

---