CareDx, Inc. [CDNA] reports annual net loss of $190,284,000.0
Company Reports Revenue of $280.3 million
CareDx, Inc.[CDNA] has reported a net loss of $190,284,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $280.3 million
Based in BRISBANE, California, CareDx, Inc. operates in the SERVICES sector.
In the Consolidated Statements of Operations for the fiscal year ending December 31, 2023, total revenues amounted to $280.3 million, showing a slight decrease compared to the previous year's figure of $321.8 million in 2022 and $296.4 million in 2021.
Operating expenses for the same period included research and development costs of $81.9 million in 2023, $90.4 million in 2022, and $76.5 million in 2021. Sales and marketing expenses were recorded at $83.3 million in 2023, $96.0 million in 2022, and $77.2 million in 2021. General and administrative costs were $117.9 million in 2023, $100.4 million in 2022, and $75.0 million in 2021.
It is noted that restructuring costs were incurred in 2023, amounting to $2.32 million. Litigation expenses were also significant in 2023 at $96.3 million.
The loss from operations in 2023 was $203.4 million, which was substantially higher than the loss of $77.2 million in 2022 and $29.7 million in 2021.
Other income and expenses for the same period showed that total other income was $13.2 million in 2023, $1.0 million in 2022, and a loss of $2.4 million in 2021.
The net loss for the fiscal year ending December 31, 2023, amounted to $190.3 million, compared to $76.6 million in 2022 and $30.7 million in 2021.
With regards to earnings per share (EPS), the basic and diluted EPS in 2023 were both reported at $(3.54) per share. This is higher than the figures of $(1.44) per share in 2022 and $(0.59) per share in 2021.
The weighted-average shares used to compute the net loss per share in 2023 were 53.8 million shares, slightly higher than the respective figures in 2022 and 2021.
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