CDNA - Earnings call transcript Q3 2020

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Operator

[00:00:02] Greetings and welcome to The Care, the third quarter of Twenty earnings conference call at this time, all participants are in listen only mode. The question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad.

As a reminder this conference is being recorded, I would like to turn the conference over to your host, Mr. Greg Chodaczek, management director. sir. ahead, go Please

Greg Chodaczek

available Good and today, thank this for KTXA XXth, Bell, Officer Officer, is ending you. www.youtube.com Financial website us Chief Chief Business Peterman's the for call. Officer, today. afternoon's September Executive currently release The Earlier released Sisso, twenty. host the afternoon Thank company's you at president and Reg joining quarter on Chief [XX:XX:XX] will financial Michael results and

not that I measure looking Before laws, be like meaning revise to would management we information, disclaims any provisions Act everyone be as should certain of call to pursuant Please the obligation statements forward will future statements broadcast historical be generally in this speaks with projections This remind or are Any include of started, to financial deemed statements to this measures Exchange during otherwise. will get live made Private are which business. forward are Securities securities in for call of financial making of safe I to and statements the XXXX. Litigation and the that federal descriptions Reform within harbor facts contained a statements, to in earnings information, Target comparable that October including operating the pricing looking reconciliation or list These or this new our by matters any events looking the financial looking these looking limitation most required update today, current results today's differ our of and our assumptions. calculated the the that results examination statements. expectations decisions, a coverage, without anticipated principles, and the regarding from not various accordance to XXth, except call and could future may in accepted and material should statements historical statements, release Accordingly, whether of reliance call risks uncertainties XXXX. statements. or and or conference other to over involve or are expectations undue with The based our also those only and forward upon All be discussion you financial of and forward enrollment cause risks forward estimates actual these associated statements on filed materially place trends, uncertainties Peter. implied provided directly gap turn accounting filings include that Commission. by of the Securities FCC. see law because now other information intention not with found with will the call

Peter Maag

caregivers. about everyone. and results [XX:XX:XX] our company Thanks, patients to outstanding the to and Greg, lives is and improve quarter of good you talk transplant the today great our excited to afternoon, work I'm doing third

of of of like thank and transplant point Before X.X Twenty top million million have our I reported bring their point came five five from fifty US product the is digital four added lot get we record an team point services, primarily percent testing million with financial revenue quarter growth quarter again, In fifty with the company to line. five of million, other year point I Their results, of to would from XXXX. revenue over eight and and third member A the revenue work every results. to our fifty year a four for asked three compared eight continue our quarter our of the increase team. of forty Once twenty, to during the patients Kennedy to to quarterly trying times dedication and again, these they driving our third tireless game. we revenue Once

never to planned And the announced been and this We grow today. to strategy long Dayaks has it position Reg to which CEO earlier a our is expand team into of stronger. shown that in [XX:XX:XX] transition, lean we in because have here, have pleasure our seen

You executed the combining patient building for profitable has incredible notably have valuable, and and become a positively people XXXX Alisher Reg successfully significantly seen arrest us active our with also organization has impact, impacted also acceleration to evolution my existing powerhouse chairman. executing over platform. the medicine, most same multiple in Manufacturing directors Over in company's a Restaraunt closely the precision continue board Reg the as together the to development business team organizations company. Kodiak's incredible research into The growth which strategy to care performance. Commercial a come and in our and the and direction. initiatives, to been executive the successful build looking working to cardiac worked to with beyond true of strategy. Reg. accelerate forward leader new and Clinical, of role in the transplant in management Reg two years growth we strategic an me, years, the the and been has I'm of the in set major of instrumental has and company's penetration has from you, has to past led

Reginald Seeto

afternoon, Good everyone. [XX:XX:XX]

today. Firstly, thank in special place shape its It help and truly where IPO to and his to want KTXA it Peter I leadership for to is building dedication on build. is a

in chair And next honored board to this as journey deeply continue accepting executive to and faith has able extremely growth fashion. this staying lead on of I'm their Peter in thirdly, with a trust together chapter seamless to fortunate Katie and the that be me Secondly, placed I'm evolution.

years. more exciting mentor We've been hundred is basic such idea. of to covid-XX. of an been for than many our very this kidney response successful in As you cases eight twenty accelerate. the growth, the know, has increase said, number he over in XX of provided year Alami year With that a pot mine We quarter, percent to covered one for over results XX of thousand patient and began an third when

growth strategic and new shareholder go long decision to that in a on made and the would create invest we term and U.S., value. the in offensive Here drive areas

As we for to to our allocate second call, quarter position wisely, we mentioned robust our during growth. our look company capital

are investments bearing fruit. already these of some And

investment areas over capabilities The several is first of direct to months. our patient the past these

and our program, this built outreach care patient patient comprehensive with froggies resource act will have our discharged from nephrology believe around we health health metrics. transplant We of part regimen outreach supervision as provide coordinate adherence, patients recently help and We manage a safely term newly medication caregivers encourage reminder, complex transplant. a continue messages transplant community manage the are bring through for group. once their to designed We center of Also, team me scheduling to to health will Alisher they the maintaining patients their to app. centric [XX:XX:XX] post the mobile better formed their was to utilize transplant our patients This simplicity transplant. of launched care measure care long as

what from blood leave continues Alabama, centers the all offering are is between have drawn percent And patients. to enrolled up remote offering XXX call and transplant test, Rhema need offers track of quarter heart to date, have for kidney, without XX now, XX investment the one originating made mobile the of track, lung area their over transplant test Mobile, results. third homes. track To their to Another patients approximately we transplant to patients remote their ability XXXX

second care of are than their said, to experienced valuable transmitting offering in track to patients, reduce lower this of XX transplant being risk expected, as acquiring or is That level percent aware givers. more quarter, the we coronavirus. believe service was Raymi the and plus As clinicians patients their how we a rate

to and We The to submit like other third a improving Multicenter this area recently option is is an data clinical We rejection, The we having survival and identify that dossier the of solid lung demonstrated detect organ reviewed which alcohol support summer, can alone a invasive patients lower this game clinical peer lives [XX:XX:XX] a our of the updated for with positive tool only need transplant. long data. patients patients bronchoscopy, Lung be Ligers a study data Lagat investment whose continuous alcohol development publications. could strategic announced published from the surveillance that the publication transplant of for changer a critical MultiChoice for believe Study. lung noninvasive newly with new transplant patients. of with of any having we Earlier rate Alisher of rejection transplant the communication month, acute

attending the our significant we KTXA covid-XX communication continued patients approaches world, innovative at in fourth the Regarding presenting Last in ongoing clinical using to virtual the an our a quarter the Regarding hosting a pinned at the our we experienced provide we of remain with six [XX:XX:XX] KTXA industry early about Solutions this studies, the lung International to Not by Immunogenic showcase to nine quarter. by we okra the in virtual presence and quarter, to those to hosted Histocompatibility a second not past laurels, study data opportunities to compared the posters we including to the essential certainly hospitalizations to We're of but clinicians on examining conferences, new the Society in and subjects saw industry to communicate symposia, industry clinical and Oakhurst this we for think in quarter. achieving develop on down and due during enrollment education in transplant quarter, Kalven posters American virtual acceleration offerings the expect recently community. third two data. increase token continuing tools Society, an September at of conference. for pace XX rest Barring LCG sponsored Alisher Congress publications plenary session. least, of announced Transplantation and third conducting pivotal our Virtual it's

and we to year continues business XX on patients the second for This personnel. best For much biopsy percent for switched year Well, is to facilities class third the transplant product It quarter. has global by of their growth the our many impacted still laboratories their pandemic hospitals our us utilization assure. products solution. transplant non-essential study, been saw to over a the access some a Europe business the at protocols continue because rate difficult in and U.S. Hodgy in restrict for across quarter to we negatively gain as short traction for reported

testing program excited Alice rigorous the is patients. for noninvasive heart patient Hotcake, very after valuable solution final This of to technical receive month surveillance Medicaid to coverage way also this and we're made protocol to Moldings for determine Shohat paves Finally, assessment a Allen providers by to be the available that decision care. had Alice, Stewart combination and transplant managing the a to

news from Goldex hear in local to becomes before the expect We effective mid-November. reimbursement coverage

discuss financial to Now hand over Mike, financials. our

Michael Bell

Reg.. Thank [XX:XX:XX] you,

revenue growth a year the percent. million three four third to first year, the income for total over point XX Turning statement, fifty was quarter of

saw we part growth driven penetration Our was accelerated and Fokine line out my other top this by quarter. on

result, testing a third to in As the percent five five increased year XX year million. over forty quarter services revenue point

other and quarter revenue Our point and million four our to first of increase our million revenue gross margins. movies X.X was product five digital

For a primarily recovered the The the from quarter supplemented of period due in the nineteen the margin XXXX. margin phlebotomy gross approximately by by testing of twenty, Nunga third Twenty to the gross XX tests third the in quarter Twenty slight to percent was volume, percent basis the remotivate lab of percent, margin on remote was compared another proportion same services. sequential XX for significant percent, of the compared of second twenty mobile XX quarter quarter increase originating XXX XX in in margin points basis. a that gross the The decrease to gross to twenty, compared of

net non-Government XXXX, was third a net loss eight million point Bashar compared was of was loss share the million XXXX. the a first loss net of think to net Twenty the the period loss cents same net X.X cents in to net of income percent compared a period of quarter twenty cents was Bashour, in of Dungannon, quarter income of income in third for compared nine I X.X of XXXX. compared twenty quarter of Twenty to the period the of one four same third government in in twenty, XXXX. non in For two to Twenty per same point the quarter a to quarter XX million Our zero the six million net [XX:XX:XX]

million, other million of now adjusted X.X a amortization reminder, April margin million five two quarter closed income Twenty depreciation of we tax, of an for recent and flow was reminder, to six XX XX program quarter this operating adjusted third twenty. third adjusted payment of first the which expenses net As recorded XXXX. positive and of EBITDA a We quarter in we eight XXX advance cash percent to define and twenty. announcements, non-GAAP income interest, point we cash to payment million a from them the is before the of in point as and with EBITDA adjusted compared income margin expect zero third April, in EBITDA in CMF And million positive, Twenty percent recoup on XXXX. XX, That's CMF quarter, begin based the EBITDA

We we of track back line. our continued investments remote positive were on were third we've the deliver that are quarter, the operating extremely operating gross and margin made able despite that adjusted across the to margins EBITDA flow impacts to pleased in that track expense second quarter the and cash we get after such our strong in able

what months. on is There drive to And Twenty expanding transplant on our we to of to nephrologists. invested are we continue guidance top close community the line not future marketing still transplant and business our patients sales allocate our the by surrounding by going much for strategically to focus direct normality year revenue level developing a value offensive our mentioned, ongoing capital back full to twenty pipeline growth beyond and As providing some many over [XX:XX:XX] of return been the such, to shareholder are have couple ultimately, and efforts and will have impacts to over last will with as Turning and centers in EPS centers now be growth. on covid-XX currently out. the we of uncertainty guidance seen,

Peter Maag

[XX:XX:XX] you, affecting employees closing, record the covid-XX Kodiak's, In third was quarter despite all life. aspects quarter another of Mike. Thank our for

and to caregivers. new continue We and develop the their to unique and patients improve of deliver solutions transplant lives

November investor months, platform He Over a would the gear here. this accelerator virtual which many to and on a future transplantation therapeutic the meeting, continue innovation in company built [XX:XX:XX] invite Xth, and area him as community joining. I in has an our higher foot open I shifted the organization to to our his will congratulate on with forward two thirty into one shape and all several question. like rest And keep of we of powerhouse to will [XX:XX:XX] now care. working like continue build security look call Eastern. into past exciting the to you As in may ways. would well appointment as the to I a the the Reg for has transplant to example, transplantation for a Thursday, p.m. Thank CEO, we Finally, on to on to closely

Operator

we'll [XX:XX:XX] your this A on a line telephone Thank confirmation a the conducting ask please you'd question, indicate in like if star that question At queue to keypad. session, your one call remove while you. time, pick we be speaker necessary question questions. and start press for is market. the answer like Moment, fresh to to please, pressing the question be queue participants if a in using handset for to you'd before it up your may from the would equipment,

sir. go Couillard. The question Please is from ahead, first Brandon

Brandon Couillard

Good Clearly, been afternoon. a CEO long the [XX:XX:XX] this here. you've Good Hey, position. the afternoon. in Brandon in at time thanks.

Just curious to elaborate.

Kodiak's you for now Peter, right that like think Just, the you would if know, And, around any, why or other perhaps know, to know, potential to of transition. this pursue changes do have is near be might outside money in you the curious know approach pursue. strategy opportunities I you you you time you'll term?

Peter Maag

on was from the this Yes. [XX:XX:XX] closely full be company, strategy Peter. phase seasonal Thanks, bit development. years. in a so uncourteous. the on is the I'll the growth organization, also different the in for the I've been for Peter involved the lines. with time you last know, you been of few I'll over [XX:XX:XX] mean, which overtime little to in on No you doing two and know, to the, worked activities working position. the the team the years there and now thank changes in I'm rain, moving all terms continue I question, any the much and with exciting. cross I don't think on last I've next very all to corporate to I've incredibly I over the the managed of I I vetch business be strategy expect focus joking

again, course the So, what that's developed. normal of of part we've

Brandon Couillard

or Thanks. then Peter. Breg question [XX:XX:XX] And

significant how I quarters. mature, they a potential about sort you of the or the hired these over centers surveillance you and rates or hires care amount of as You next additional really managers tests of patient in utilization or few from could the period. if perhaps continue new just quantify Curious guess, to either by impact productivity think those initial

Reginald Seeto

[XX:XX:XX] mean, Grima which, as we role, a has Track. know, Yeah, the response patients to our you Trelease during, particularly know, strategic key see in you a thanks. covered I asset, played

think, that I schedule care things when a the patient themselves. to centers is higher some know, patients, key of do you than the note when much our it it's adherence the mangers actually actually

think the benefit with such I move from we're seeing, offerings a because know, to time as the having now them direct same you relationship at we alloca. patient

been asset has real for strategic a the really So organization.

we're reason XXXX expanded track. be why have benefits part the that think should down of well. noted I we've the we with EPS seeing That's It the also more as Ms. the with than been patients of that

Brandon Couillard

fourth any kind or of color I maybe as you quarter just the helpful the [XX:XX:XX] you, only far guess outlook is one the with plan maybe investment as OpEx thing? for Michael, share just for

Michael Bell

I to, marketing, continue and you you the the increase. sales know, development I know, to should on the pipeline the and continued remarks, and QX. you you the say, and on know, for throughout year, expect throughout mean, invest would also us that we've continue and Yes, you research really I [XX:XX:XX] investment know, scripted Brandon, mentioned it

our in expense to I sequentially operating it QX. in in did would know expect increase to QX, You what? it as as again did

Brandon Couillard

[XX:XX:XX] Thank you.

Operator

go is question Steven next The from sir. [XX:XX:XX] Piper Sandler. Please Mah ahead,

Steven Mah

good [XX:XX:XX] afternoon, everyone. Great. Yes,

Peter Maag

on. to [XX:XX:XX] you have good Stephen,

Steven Mah

[XX:XX:XX] it's run. congratulations, in from overtime good full time. Yeah, build go done Yeah, to Congratulations is Peter. X believe to transition hands yeah, I now. just it's for it to Breg where to to a great it's take been with well-deserved you all for been you've was and And working

So, well so deserved.

Peter Maag

half billion executing very we following long Thank you Stephen, and, been yet so and much, this for two on and two time, a a you've opportunity were [XX:XX:XX] the know, there's you much story as and dollar, lung, the just company, [XX:XX:XX] many so the billion heart over with in drivers I'm beginning kidney. so Tammin handing And excited Red. with I'm this we to dollars growth on of so

Steven Mah

[XX:XX:XX] Yeah, yeah, it I great. yeah, yeah, Yeah. think and a a timing like think I good no, seems it's seems like good it's

So maybe the indication heart know care Do any just you decision. pricing? you heart moving have questions, the, on got you care I on to know, the

Michael Bell

[XX:XX:XX] Hi, not Stephen, it's Mike. No, yet.

get I yet, the pricing additional that on in middle reimbursement mentioned the the have we earlier would effective. as think go November, which we've information. of to no we're news got we mid again when this is expecting the call no But by when

Steven Mah

Ok, you could care, remind timelines the us and for going Medicare kidney on again [XX:XX:XX] to on reimbursement? And great. then submit you're when

Peter Maag

we're stage. ongoing Kindercare continuing on still we're this On so for of part that at doing an as Okura, Kindercare part [XX:XX:XX] clinical of it's reimbursement, study until with

Steven Mah

sort like have as steady percentage pandemic OK. then could track, give twenty in know us sense know, maybe you it's And think state will volume to state and what some Ok, level be I But, steady be. predict [XX:XX:XX] a a of will you Maybe post of of reopened. the hard And run what post you this forward? on a twenty is like a a rate? to know, going finally gotcha, you level senators remote know I

Reginald Seeto

our for state think percent [XX:XX:XX] expect be around I XX mark. the to we for strategy, Yeah, steady

consistent think relatively lead uncertainty, that it's as know, that, fairly, that's seeing usage well. we're I a remote certainly to track number. also covid, something And would you with this you know, with more know, you said

Steven Mah

can has only give the pandemic color. you give just you know, and, can issues thing And track gotcha. covid-XX patient some improved Ok, on a adherence us sense sense of and with us [XX:XX:XX] a remote continue with how

Reginald Seeto

continue themselves. [XX:XX:XX] increase think outpatient really we've hearings been nonromantic this through the with care thing, importantly, of a drive, it. be blood bit have we patients them of do one trail track an schedule a for with that's a of remote Yet and patients actually at and to is home. to call during like to been we part nine importantly, that's do managers sleep, the this more more actually And that's what reschedule than has know, this in compelling. they time seen ability when that really what want been mean, of really, the the and is there actually something Patients, forward. increase It's share feedback I you in in XX versus actually the there's really they to saying and recontract, the more I an moving offering, more in patients doing centers and use

Steven Mah

[XX:XX:XX] makes as getting total Yeah, yeah, mean, well. sorry. so I compromise, that and some Yeah,

Reginald Seeto

Yeah, of [XX:XX:XX] additional think I I enables think the point of an contact as patient well. also direct with this his L.A., launch

it's nice think a I continuum.

our have connecting and are way our we also as transplant calling app. is them up. transplants also now, patients patient obviously patient through as they leave well calling patients are a have But you These L.A. of center. digital know, when We the demand

part of with interaction of So plan this all the it's sort the continue to patient.

Steven Mah

and lot for four a can of makes you sense in remote That squeeze in Mike more less [XX:XX:XX] given one one maybe track.

going be margins significant know, forward. volumes with Can part it's your of the know us I can sense a XX Thank stated to how you get You give goal of impacted of you to percent the you. term phlebotomy. are a margins? gross long going the

Michael Bell

third first recovered quarter. quarter, gross back on nicely to where on our know, margins and really were the they [XX:XX:XX] this Yeah, you know, you obviously, and, quarter we in

lap. then margins. And increase, coming we in And volume going that naturally projects to of sort look think QX down that we've efficiency lot a was we over and to into got improvement the optimization in increased going also, lab drive got improvement continues in as on that's remote the So look I that But the as the already. track the of volume at we in in out, as moment. the to coming

through So get will this your Alice, and additional and we've payer Kidney mentioned we on as average and And of reimbursement increase down get know, drive Alisher or the margin [XX:XX:XX] reimbursement heart that. then, before, drop improvement. to whether as we that reimbursement, for for drive you going coming private the course, the topline to in the also to we gross that's that's

So I think we're feeling really comfortable that we can get to XX percent gross margins.

Operator

a Capital question Nowak, from go There's ahead, [XX:XX:XX] Alex Craig-Hallum Group. sir. Please

Alex Nowak

transitions Good congrats, everyone, and Great. the [XX:XX:XX] Peter and afternoon, on Reg, here.

up during growth on You've tough we impressive a put And some call. really during bit the quarter. a touched

a that investments. mentioned You is your all of culmination this of

more track much very to protocols. focus managers care have out on there You patient

just quarter? highest I liquid in about to think and could the was us that also is during generating general you of But push what QX investment signal you that biopsy. the out you go for You saw profile continuing have one beyond? the to of benefit how And hoping QX most kind a beneficial do is into

Reginald Seeto

adding into you to Yeah, moving the suite for patient, communities back that's in And we're of been build patient think that response last things I we've and most with as build the we Lobsterfest. like I investment think way that know, relationship not within us response now and this additional out there. it's to only patient. think mind the their with care the see to the continue as as our of closer Like is, care And what things offering strategy, part seen amazing the I Rhema. think that that to has of really to sort premium of starts clearly, important all connectivity mile. off instead [XX:XX:XX] patient relationship made the we person, be that DGP I within Traffic we doing is

Alex Nowak

it, your point, to or [XX:XX:XX] still this investments are starting the is all you results come? to see that within Got to quarter, of and community that in the

Reginald Seeto

numbers, and over with we to last very benefits plan far community so we're that we're out our beginning the say results the that we've seen out is don't strategy. can team see We [XX:XX:XX] we've what early that pleased those built some Yes, urology and break months. three we've of but

Alex Nowak

[XX:XX:XX] got the growth around given And the programs next announced all kidney transplants, And what people moving that perform drive that have transplants it. all be that advances to rate kidney the market is Medicare transplant. been several of years? and Ok, doing should the a more essentially of then underlying to for kidney

You what of five or done others either to that know in to needs by else years? be transplants CNN to kidney doubling get

Reginald Seeto

five we and transplant latent this is life and more [XX:XX:XX] well. But patients demand And for if of that And something organs. there to demand could we better, happy know, very on you're every of percent the so industry XX because, increase that that's know, we [XX:XX:XX] met. the are had industries maybe of are that as where if great curity am accelerate dynamic do there tremendously question, you organs you a and, that to Alex, that's little few I only do, take understand thinking supply to will a [XX:XX:XX] benefit bit, there of the and entire is ultimately enough about actually

within doubling organs transplant curveball covid-XX, we five years, a transplant swing I the that goal. many centers above a and actually We this you full are stated So, think the probably know, previous to is already back but of bit year. the see had of centers

do. I can So we of a doubt is that opportunity no that so lot there have

think go No. element of One, And organs. opio organ two the people lot Number room that these effective. and and a is there's future. to most donate the is with Now, procurement these that important organizations in grow I efficient are

Alex Nowak

continue. it U.S. with, then and great, called ears What better [XX:XX:XX] would volumes? centers. eyes Now you Kobe That's how entering just and wave focused another Are what April know, or down question know on do the will slow manage the everyone's be the to that the transplant last the are or for hearing third in they here or regarding looks way virus? me, transplant proceeding about like transplant May, they down for like we're you or activity shut cases

Reginald Seeto

States United what you that. what like by across continues mean, XXX, region locations. you seeing things seen, transplant And Yes, continual into want. within is to, by we XXX today. what and that have and center know, insights than found the offering And need we're know, really response covid where variability they [XX:XX:XX] I a more increase even response, some there's center track transplant an we've in I of centers region, with think you than centers they to built remote covering know, more good is

So respond, important all has I and to been for organs to to needs think that also heart from ability lung. the react to different kidney us really

Alex Nowak

great. That's I it. appreciate Thank [XX:XX:XX] you.

Reginald Seeto

[XX:XX:XX] Thanks, Steve.

Operator

course, Cooper, please James, [XX:XX:XX] question have Randy we go Of ahead. for Raymond a

Andrew Cooper

guys, Reg, Hey, a the congrats. coverage. Peter of lot kind [XX:XX:XX] chorusing of and and

to So maybe the as just different know, of we it take little potential and know, that asked bit the in this know, access be transplantations there, you to we When the access centers, and I'll what's markets I the thinking about maybe bucket, you think past being think we based. particularly how know, as path more you into environment or yesterday, European about, into and limited. obviously you a you product your market about try a competitive the direction first move, European to was your the should customers or

Reginald Seeto

requires of to of pretty kids I found sort building that at virtual just class we've product as I shifted we've by the demos think, is recognized in has there done I know, virtual in demonstrations. be that think which what US On side, the you been if much firstly many more might will a type to of the see and that well. process. I we've we think the business, our best marketing, of [XX:XX:XX] what covered look to And [XX:XX:XX]

So business us. the think that's I from parking next

in continue I think terms is children our to Europe, has correct having strong where this some DNA, of the in do have continue particularly think benefit us to And to see area that. an enabled and to of I with Sophie work interest. infrastructure, we we

why talking a know, that actually translating now colleagues of us, have make information as we thing have The bedini. their other Europe you to of now as support to is sort as much us our who about is communities other excitement are sure to that so of to and many well flow, and well show analyzing who in there's folks it this continuation been,

Andrew Cooper

helpful. that's about sort was as I in we that. brought [XX:XX:XX] kidney it know you about, already, up sorry a Ok, of care, And know, question great, then but just think

that think about anywhere that how customers anything you've away it take whether we about, you you heart potential care have the conversations had, through potential pipelines, changed If that the know from for know, was the or is hair, for you think you product? with kidney around there that

Reginald Seeto

push been [XX:XX:XX] been to Yeah, I to trying we've into that's think is, to demonstrate think that you that, because lead has really Hawke able for innovation. I what further I about know, think

many to phone, of first As transplant. you know, Profiling DNA bring expression. were you the the know, gene the to we're transplant on first bring into to Sophi

approach, terms really demonstration. day multimodality the the to of continue the you do that know, validates at, I that in do be critics those we innovation, was never of a saying every trailblazer. that's we I think that you combination we front we really three at as of in want first, what mean, prescription as thing company. one our that a to important know, for is drive lost us, And really, approved MultiChoice the it's look

we've the translating of profiling, in So also addition that the know, added in is DNA France. and care, we've that that think to ability I algorithm approach. taken really, the same evolve eyeballs, the expression in you sense, which to selfie And gene

And we will difference. a make I that believe think meaningful so

we're we've addition, and Houston as offerings on well. your office working in that got In map digital also

is this future really basis Multimodality transplant. the foundational again, and Kanika the for So,

Andrew Cooper

more and surface we there what after more Ok, of or be [XX:XX:XX] out you M&A maybe great, one at not in guys about you think where, in may the where any comment about in deputy the. more anything should as landscape. Any think the is any sort to just looking or of the the being you race perhaps, has may players know, on active surfaced, as earlier seeing we potentially that financially of terms you're bubbling some year, more

Reginald Seeto

the mean, That's similar our got to peers, raise, a to us first ratio Yeah, I at it be the I'd to to equity like median. [XX:XX:XX] least the at make. the point to

business and testing are services, last there we two Secondly, just also you to the we continue multiple years but over multiple know, the lines, products have services. monitor we not know, the you being have And opportunities, that discussed. and

is we attractive. on what we'll that So we And be those. happens to believe that of as course part see to normal continue are think that our I meant there

Andrew Cooper

there. stop I'll [XX:XX:XX] Thanks.

Operator

Nam, go next Sung-Ji Please is The [XX:XX:XX] BTIG. question from ahead.

Sung-Ji Nam

trying the Raj for is Peter lung. thanks to know, you first transplant? wondering monitoring, what bronchoscopy a was and sense procedures then. in for undergo the the remind was lung you Hi, how and opportunity and Just your Could [XX:XX:XX] us many rejection to about to patients get of congratulations taking questions in both market there year

year. the first Following

Reginald Seeto

with know, similar alcohol another size opportunity sort testing actually in [XX:XX:XX] that there a of as first the that, more you to the, This is Yeah, in I you of mortality of to patients XXXX lung think is would with high about terms now one, know, year. lot one conditions. of And transplant patients.

with there's maybe And Look so continue of sort XXX, protocol believe know, the some with that a we but establishing higher surveillance. getting, that feedback we're to that the that. originally I we're this, of initially there's frequency need at there's think maybe you the as even

Peter Maag

five know, survival. for know, one year five Lung have live they've seeing a reiterate they that [XX:XX:XX] has been XX patients And, these Fred don't but years XX what problems year, you saying, probably, you the to know, the was you and kidney of heart, just to

is unmet it's tail, not of the because opportunity, in as exciting so but need So the not is a terms very significant. this big

talking Chalfie that And DNA three we so publications have major the on very Richard on is now on saurian publications was exciting. which lung, about, other or

I quickly adjacent he'll might accelerate go be benefit of field, be quickly, to which into able and So, the you existing very this on. is platform think taking know,

Sung-Ji Nam

future? and might reason helpful. guys kind the there was the you announcement, any obviously of benefit And the the pursue that's Medicare which Great, is [XX:XX:XX] in largely be just from that a Could A.D.s? something pursuing curious, but nonevent,

Reginald Seeto

the that molecular You think to reimbursement evolve. diagnostics know, in landscape continues I [XX:XX:XX]

and has run making are are in high phenomenal sure I general as products products a think our in you that, had company value recognized know, such. the diagnostics

very then comfortable constantly roads. moldings with evaluating the were current a Molex, driven we is I other data think which and through But to reimbursement Meridien. approach are approach other through and getting we

you through office might and the dual an central multimodality the [XX:XX:XX] right think, track the But thought a approach. So, with we're comfortable with one between poster And FDA on I know, opportunity care office really the maybe our a combining know, now, approach. reimbursement child we combination heart day be very have going offerings. you how is current

Sung-Ji Nam

great you of guess, then date. the that be year for I revenue volume, a I'm versus maybe Owasso would to this for quarter Mike, make a quarter couple your, report able contribution Such what [XX:XX:XX] ones the or of split and was part could sort you sure the to quick that and volume certainly know, the Alan, Alan this for

Michael Bell

[XX:XX:XX] but early to spacing an more the you XXXXXX yet on of move for previous still [XX:XX:XX] you know, hope we forward, know, be to or Well, to as than know, hour No. similar the that, days announcing on less so, quarter, out dollars, you ourselves. And all, similar volumes. first so, we

now, I the know, eight way you for growth. not volume show. is that [XX:XX:XX] know, in thousand volume which you But that and fantastic hundred twenty commercial both one think for total our Alami no, at was, quarter, we is at. You we're the look know, splitting not And the we're testing so, at services

Sung-Ji Nam

Thank much. you Ok, [XX:XX:XX] great. sounds so

Peter Maag

you. Thank [XX:XX:XX]

Operator

a Wainwright, your to ahead. a go someone. wish star As one the phone, question, Have H.C. question, your [XX:XX:XX] please you ask telephone if reminder, on Yi Chen,

Yi Chen

you questions. Thank my taking for [XX:XX:XX]

Is engrossing contributed results center procedures remote with patients which is, patient each track? question protocol in quarter? transplant it becoming surveillance compliant this more at First more transplant penetration factor with or

Reginald Seeto

know, levels protocols but us, hallmark know, than and has protocols both Yes, of for XX to growth driving the [XX:XX:XX] with our have different continue been, more the quarter. continue I grow you been we each you the think,

opportunity develops an the simple as center, a for DNA protocol. us such know, specific it's Alisher a So you Selfe

Peter Maag

we that are the to you to know, there's time. add maybe so new so the early this, platform And all coming patients [XX:XX:XX] onto

we're XX on So, you depending penetrated. at how know, it, you right percent five now, to look

adherence. the So you right might rate be But by was onto the mentioning growth time by is now, the patients very platform, the patients still up at by on dynamic the managers, primarily to same with our to catch while growth the know, we care new new continues coming added Rich being driven platform. patient compliance our and

Yi Chen

next trend first that revenue the total expenses have Do decreasing as Don, sales thanks. expect the trend Up marketing and you [XX:XX:XX] quarters. question is continue? shown for of percentage to a three

Peter Maag

women I patient line, marketing, we're I investing will that [XX:XX:XX] community and QX of that think on continue continue. invest think grew still the all focusing said managers nephrology. that be to in and care will we've and in added having expense because we're in in still But you that, know, sales sequentially

still growth. revenue will the it fast So continue as I grow, think the to maybe not as as

Yi Chen

Got Thank you. [XX:XX:XX] it.

Operator

the call answer we remarks. for to closing turn have gentlemen, can that and question Peter and the the end over session back of Ladies [XX:XX:XX] reached I Maag

Peter Maag

for [XX:XX:XX] thank us. joining you Well, very much

I'm transplantation. keep powerhouse And a very building forward discussion. are Thank you looking in you. Thank tremendous We'll much. future updated. to We you

Operator

for time. This conference, you today's [XX:XX:XX] participation. lines Thank concludes disconnect know, your you your this at

CareDx (CDNA) 29 Oct 202020 Q3 Earnings call transcript