CDNA - Earnings call transcript Q2 2024

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Operator

Good day, everyone, and welcome to today's CareDx, Inc.

Second Quarter 2024 Earnings Conference Call. [Operator Instructions]

Please note this call may be recorded. I'll be standing by if you should need any assistance. pleasure the my Mr. over now is to call turn to It Chodaczek, Director. Greg Managing

Gregory Chodaczek

Good you Thanks, today. and afternoon, Leo. thank for us joining

Earlier is results XX, financial company's today, quarter www.caredx.com. CareDx June ending website for at XXXX. available currently the release on the The released

will President Officer, Chief Chief and call. afternoon's Hanna, Officer; and this John Jain, Abhishek Executive Financial host

within the this Before will be management securities we everyone call include are to remind that that made get of of Private started, provisions the to I Litigation the forward-looking which laws, safe XXXX. statements statements Reform Act federal of would during meaning Securities like pursuant making the harbor

and forward-looking could should upon and results in or should enrollment limitation, our undue statements that statements, uncertainties those of you these from this contained estimates results implied trends, are that examination historical of these on reliance statements involve historical place be based and not anticipated regarding and be by various forward-looking are facts to expectations pricing operating cause differ coverage decisions, assumptions. statements financial materially statements. Accordingly, All including, risks Any deemed These not current expectations matters, to without call statements. statements. actual our material and forward-looking

and business, list of please a the description uncertainties and our and Commission. Exchange For see the with associated with risks Securities our filings

otherwise. whether this XXXX. in speaks because statements, revise future live law, obligation, only projections information or call or provided by conference any or CareDx as information, new disclaims other any XX, information intention today, update The events to to required July of except the broadcast forward-looking financial or

Generally be that the of may discussion in This financial calculated accordance today's call comparable release Reconciliations to measures include Principles. in Accounting the found with financial SEC. will are measure Accepted GAAP also not earnings filed most directly certain a with

the now John. call over will to turn I

John Hanna

today's you you, everyone Thank joined Greg, who to has call. and thank

quarter providing innovation strong needs our execution. across of had address to patients, year, centers that all growth. disciplined start solutions the good marked a our and by businesses robust we driving another to After operational commitment are transplant and growth CareDx's

publish evidence testing allograft our of extending survival. We supporting the compelling services continue to role in

are high-quality complex top and drivers helping customers our benefit navigate Our how NGS-based outcomes, solutions I line our digital examples increased technologies. In are centers remarks, underpinning achieve of adoption gaining growth. the our supplanting and laboratory workflows to and labs, vital utilization products will solutions my prepared and patients, transplant share legacy of wider

We've reached an business. inflection point our in

the management coupled adjusted approach became translated in with into expense growth, line bottom in remaining this updated the in adjusted expect our our EBITDA sizable year disciplined line for adjusted our has to to both year, We improvements be guidance. revenue growth. resulting positive and full X adjusted EBITDA quarter in EBITDA Our for top quarters of resulting and positive reflected as EBITDA, the neutral

XX% year-over-year expected $XXX year Given midpoint are growth for $XXX rate revenue million guidance. at results we year-to-date our year, the fiscal to million, of of the remainder guidance for our strong our XXXX the and raising to a of growth

financial our to Turning results.

in the consecutive quarter, second quarter. tests, million, previous growth This the quarter $XX.X the Testing X% we delivered of business, our from reported we the the For Services sequential XX% Testing year. approximately prior revenue up In XX% volumes. up from Services from represents up year fourth of XX,XXX and prior

Testing making our XX% revenue in adjusted prior We was $XX.X Services $XX.X tests Testing in the accrued Services million, XX% quarter from of year-over-year. in million, quarters, revenue year-over-year. $XX.X revenue million up performed up

study Journal in earnings rejection Transplantation. publication Slide ] cellular transplant and of identifies that demonstrates shown AlloSure [ milestone Heart demonstrate Heart excellent significant on prospective which Heart SHORE our of that X findings second ] years quarter, AlloMap [ post acute clinical donor-derived our heart the HeartCare, We more HeartCare on As X the observational outcomes potentially better Slide clinicians the and Lung In a of peer-reviewed also rates alone. X study transplant. we combines with The DNA and cell-free is care achieved presentation, first patients surveillance than believe guide biopsy biopsies to associated in sparingly. could lower heart perform that using this

and SHORE over prospective is continue to to foreseeable for for in future. study publications years, X enrolled. of kind SHORE generate participating XX is with most its the transplantation, designed follow X,XXX SHORE we The meaningful extensive patients study heart the will patients so expect centers

The Regeneration, X,XXX Organ and patients. was patients that donor-derived testing in DNA Paris study Moving demonstrating with A risk and in of that rejection to underwent along Institute validating in subclinical study detect cell-free AlloSure Medicine international our ], the Nature Belgium. by business. [ stable the our AI-enabled month model Kidney prediction landmark kidney U.S. was conducted and last for Transplantation multicenter published AlloView researchers

in findings of donor-specific clinically key rejection AlloSure Kidney Kidney detected Slide suggesting cell-free may DNA before surveillance study creatinine, from Kidney treatment the patients to T and biopsy. antibody-mediated the levels for be treated decrease Presentation monitoring AlloSure serum Kidney are: AlloView surveillance of with in biopsy-proven such rejection with used antibodies our of donor-derived care analysis measures consecutive cell-free compared AlloSure elevated donor-derived cell-mediated receiving successfully detection Several and were patients; improves patients an rejection AlloSure X Investor rejection, and Kidney standard as levels DNA shown subclinical in assess and stable testing AlloSure to response; rejection of biopsies;

invasive to establish and indicator leading that progress AlloSure's before rejection. response avoiding of in and while transplant a These procedures. clinicians treatment symptoms findings intervene occur role patients. underscores It biopsy in monitor This kidney transplant routine rejection study contribute of of globally body clinical a post-treatment new enables evidence to rejection monitoring standards of growing kidney as may

who transplant in advocate to the to third quarter. of patients likely the and determination forward draft long-standing to Turning coverage their coverage. and to with look hearts, molecular restore by criteria tests clinicians February lungs these ordered that to tests in transplanted coverage of and Medicare a CareDx continue available to necessary the affirming local We language. year, blood and access permanently that continue Recall, issued ensuring to CMS kidneys meet transplant can specialty remain physician. a statement medically patients and their societies Medicare's this patients coverage finalization when local commitment

XXXX, AlloSure revenue cycle management, new AlloMap with plans, approximately heart contributed coupled in will significant Kidney. growth from additional nationwide. services. kidney had lives coverage million Shield for future have to testing [ benefit policies gained half We we improvements commercial coverage, This and coverage to Blue we XX our includes ] payer Cross, from success totaling increasing The the for in commercial In quarters. of other first Blue and ASP have continue in ] AlloSure [ Heart, Heart, that plans

in Solutions This information achieved $XX be for Moving our of and of our an system solution million SaaS software year-over-year to We growth. Patient quarter our Digital representing growth management can lab uptake business. first over revenue, XX% and HLA attributed to conversions laboratories.

transplant outcomes, to complement from of least products Our additional continue one digital at each Because in U.S.-based transplant value-added offerings solutions. patient us. traction deliver other having solutions with over XX% positive our and centers are our digital centers gain acquiring in

and and utilization CareDx's have their software implemented engagement case, solutions Children's organizations. accreditation to achieving that, Joe outcomes. their insights, into high-quality CareDx's Damasio's tools program, are centers Hospital Florida facilitate Memorial transplant ] aiding transform for quality regulatory, with payer adult cloud-based in Hospital, pediatric raw reporting renowned this software [ and and data

primarily achieving organ bone our and industry-leading transplantation. another over reported our adoption first, Products growth. are by year-over-year driven discovering representing typing XX% typing Tx technologies. our legacy use transplantation in $XX for growth benefits business, Tx Centers kits has Lab over was solid we strong many AlloSeq In global in revenue, NGS-based of marrow that AlloSeq HLA continued million This

NGS migration HLA We will typing expect this continue. best-in-class toward our

labs Italy, AlloSeq Europe, For need operational growth the it brings using the reflex a AlloSeq [ This efficiencies. Cagliara thereby eliminating ambiguous is top price-sensitive in They to to the transitioned from in region. recognize Tx. market for Tx NGS-based one the in innovation resolve in Italy, like example, to markets and Rome, reflects Camilo testing ] increasing typing solutions which the X legacy of top value results, San provides PCR methods HLA HLA value real-time X

In and demonstrated quarter Products, and had across year-over-year strong solid a Digital Services, summary, all and will Lab we Solutions X believe we businesses: continue. growth Testing will this

entire our plan I CareDx and in the globally return want transplant to thank to for against to delivering commitment disciplined growth. their their patients to team execution for

that, With results. Abhishek? quarter details more Abhishek share to on our ask second I will

Abhishek Jain

remarks before In quarter Thank turning remarks on you, second non-GAAP I my will our John. guidance. Unless to will otherwise discuss results. today, results our revised focus XXXX my noted,

non-GAAP reconciliations to recent For refer release, further presentation filings. our please GAAP and SEC earnings to information, in press

providing key the with details revised guidance. more around before start our me XXXX Let highlights financial

up second Reported total revenue quarter, XX% the of year-over-year. $XX.X million for

Delivered up of as over consecutive the year-over-year quarter, sequential fourth volume X% quarter testing XX,XXX representing results, compared services to test the and XX% growth. last

services $XX.X grew million, strong comparable basis, tests Services performed year-over-year, a growth. year-over-year, associated XX% including periods. testing Testing million of Reported revenue prior by revenue On volume adjusted $XX.X with in ] driven up [ our XX%

of revenue Digital Products and $XX.X up year-over-year. million, million, revenue year-over-year of Patient $XX.X Reported XX% up Solutions and XX%

loss of gain EBITDA of adjusted million QX to $XX.X million in compared as XXXX. Reported $XX.X

ended cash million the equivalents marketable of cash $XXX operations generated Finally, and cash, from and securities. $XX.X million quarter in with

in the performance quarter, of are XXXX full our revenue second million $XXX guidance $XXX to prior raising to year from million. million strong we Due overall million $XXX guidance to the our to $XXX

the margins. to gross details, Moving starting with

to margin performed the million XX% second associated gross margin with gross compared XXXX. revenue Our prior was Testing Testing periods, in the Services XX% non-GAAP in for in second tests quarter [ XX% Services in ]. the quarter of was $XX.X Adjusted

Digital quarter second up Patient XXXX. was Solutions in XX%, the for XX% Our and gross second from quarter the margin of non-GAAP

for transplant second and lower that margin business XX%. was our gross gross quarter our profile, business Solutions non-GAAP a margin Patient has Excluding the pharmacy Digital

XX% last flattish was Our quarter. in Products the the margin from compared and XX% gross XXXX to of business XX% quarter quarter, second in second non-GAAP down

down and the clinical were for with previous million $X.X spend and up the operating The million increase quarter. of from associated down P&L. approximately Non-GAAP trials. Moving from quarter-over-quarter conference quarter R&D expenses $XX.X XXXX second associated spend second $X.X the with the quarter was million,

in and reported gain of the million in million EBITDA loss XXXX second $X.X quarter the $XX.X to was of second the of adjusted previous million quarter. $XX.X a quarter Reported XXXX EBITDA of loss compared adjusted for

revenue the EBITDA periods, prior performed quarter. in neutral this adjusted we associated Excluding were tests $XX.X million with

$XX.X ended in cash, equivalents marketable debt. no generated with and and We in securities and cash. operations position to cash million a Turning of $XXX.X strong cash from million the quarter

guidance revenue all healthy we to to the businesses the anticipated full growth the and Turning to XXXX second million. are million in on of the $XXX the Based raising performance our quarter guidance. year year, in of across second half $XXX

The between The half teens the in Services is our volume XXXX the Testing guidance midpoint ASP the of growth of mid-XXs difference volume growth by our year-over-year XXXX. assumptions in in assumes revenue second high revenue driven expansion. and growth rates and for

of per digits half blended coverage. in We teens are ASP for grow as XXXX. business And $X,XXX business grow second assuming and No double the to Solutions high change approximately Digital low year-over-year. our year-over-year. our test Patient to Products in medical

guided We gross EBITDA to to to expect our year between expectations full $XX $XX million margin, improved Testing approximately and adjusted loss improved and to previously be the driven gross $X compared margin. be by million. to million million Due XX% $XX for gross expect the and XXXX to of Services margin XX%, the the we EBITDA gain our revenue

to the remarks. turn to call deliver to John closing now over would I like

John Hanna

you, Abhishek. Thank

want significant As past here we conclude year, team the our line CareDx progress I our into growth. the top highlight stand position the to at prepared in second of has XXXX. line strong a remarks, entering bottom and made half translating over remarkable We

will to the will CareDx the into provide location released want public long-term quarter, specific weeks. Prior early Investor Day insights hosting in and advisory an where be concluding the I call, we growth of date will our in coming to the fourth share be A that strategy.

operator the questions. to with I the line like for would open And ask that, to

Operator

Instructions] Hallum. take [Operator Bonello Craig first from of We'll our Bill question

William Bonello

quarter. looking nice really of things. Guys, Congratulations. Couple

I So clean and think surprising given on collections, you maybe have at that million million. had that the another the you've you prior been about thought efforts was period $X.X $XX making. now last quarter, up, not you and all But

on more collect you don't there we -- the mean billing? it include about but opportunities guidance, to get and period that how there I basis? in still want I on should Is go-forward prior to go think a back is

Abhishek Jain

question. is Bill, this I'll Abhishek take this

for million this what this around, collection time recognized you're good a the quarter $XX So we and standpoint, have we prior period. had guidance the right, from particular basically we done And of end that the part. in, we the in us That's are including the getting in in will our revenues first help improved and baked higher some collections guidance. that's range high

part so, And seeing on last particular successes what we that size that X of is some seen on the opportunity. based or overall this have And year we second the the in decreasing. in reason pool the of opportunities decided are wins such in the end some area bake are we from overall of of of And kind the that's this of the guidance. kind to our high particular

William Bonello

to us as Or testing? helpful. still then in though draft the surveillance some are you of what Okay. And tell kidney? That's you're terms seeing behaving you surveillance is really to starting reversion MolDx in back policy? the testing see physicians increase can just Are LCD

John Hanna

Bill, it's John.

are the have and draft using it for be cause. behavior their which changed LCD not test that in finalization. testing can the We in surveillance anticipation the comfortable continue clinicians scenarios more see relative to They with of being used to

William Bonello

then ask And can Okay. one I if question. last

any donor-derived cfDNA? [ Just going thoughts an ] that vamp we see could September? that update Possible classification to this references into

John Hanna

to ask respond to Robert going that. I'm to

Robert Woodward

something they've future that even unclear It's over as publication. it would years. talked think the coming discussed, something that happen is as when guidance, is that be I the might if out that in about far

So not short that's term.

Operator

next Tycho of We'll question our take Jefferies. from Peterson

Unknown Analyst

Kayla wanted off on the I This start to IOTA ] Tycho. is [ for just program. with

is starts synced the down reimbursement successful. hoping are 'XX we You've And what the from be program changes reimbursement, the mentioned proposed? How to things assuming and potential changes are in that see? come line . program,

John Hanna

the referring IOTA repeat you and You're question? program Can to the reimbursement?

Unknown Analyst

Yes.

some the reimbursement what program. I about the come of talked could changes that and of lines see guess down potential when? You've model changes we could kind

John Hanna

program. Yes, Alex about IOTA the to to I'm ask talk going

Alexander Johnson

discussion roughly speak, penalties kidney It still Sure. This a so is transplant rewards, is in. built for and the now a program half that really in and long-term program. come there's centers lot comments of that are to into and

will of IOTA and those specific happen puts as the ups so centers And takes in are those that and to the that's program. gives and IOTA program part

Unknown Analyst

can then all stick Or the involved currently maybe that Okay. Say be with able to are are expands? anything worth those out CDNA pick be participating versus the Prospera in as That's helpful. will ]? program? the market standardized do or an using? share And that to like for effort centers do [ testing [ up calling And they ] AlloSure to defend tasks the there

Alexander Johnson

organs, realize that we and I this more think that can It's do right? patients, decisions that. program what's at going utilization, is that. driven important CareDx, do solutions have to to have here how are And help incentivize on we tools, help make centers to them to to evidence

in to we're on good position that thinking we're so execute a And strategies. help their very them

Operator

Matt We'll Sykes move to Sachs. next of Goldman

Prashant Kota

the quarter. Congrats This is Prashant for on Matt. on

and like half trend this in So you transplant to second about growth are thinking and how first, trending when of the low year? upside kidney for first the remaining single-digit for first heart, that throughout seems How given for have volumes of number half are the for flattish you half growth the transplant annualize the trended remainder XXXX. year, this volumes

Unknown Executive

in monitor last trend that. direction. we addressed that In general, Yes, that And transplant quarter-over-quarter that the business. volume to there's we I I to and going IOTA opportunity we're the grow trends plenty was for to going see of increasing to Prashant. we're volume. continue to us mean to a year-over-year continue regardless that upwards the in with question as in anticipate of program continue the see go think

Prashant Kota

testing. question it. a And on then single versus Got multimodality just

the market space you competitor quantify in well. evolve this to Can . main approach much involved multimodality? is that as the How And how your going is capturing? for been with share forward? just you projected So have

Unknown Executive

identify and I have test, rejection of AlloSure alone. supports results, to think cell-free and get Heart DNA testing are that we've patients fewer biopsy a less particular, Heart positive higher likely that than single strong transplantation, evidence in AlloMap base rate events. dual dual that a significant negative a donor-derived built at rejection And heart multimodal in

there previously of testing I undergo think the get heart for that And and very adoption CareDx of a And testing strong said so patients is HeartCare. is multimodal we've of upwards the from transplant evidence XX% high.

Prashant Kota

transplant if squeeze gene then kidney the test for And could expression they're I for and with monitoring? it. Got Kidney the How last one given HistoMap do one. sizes all for profiling UroMap market compare market AlloMap

John Hanna

question. be the It's going Investor great a We're addressing our products in quarter. pipeline to future fourth Day in

that on question hold we'll that until time. So

Operator

Raymond Cooper question of next Andrew from James. Our is

Andrew Cooper

volumes this of Has terms prepared word I of think, in know Maybe you it on of touched the point, in scope used inflection in first, kind the step-up bit changed? quarter-over-quarter I was kind impressive. little anything of the just one of was an a remarks.

love here driving really would settle adoption just kind So think the the noise year. is as over down see last some of what of we that you continued from

John Hanna

Alex, going Testing our I'm that. to President of to Patient ask answer Yes. Services,

Alexander Johnson

Andrew. Yes,

leading strategy. are advocating sure as approach we're about heard to how for that and that is us about We I through That and the hasn't type of SHORE, we're look center-by-center think clinical to changed. evidence make talking see consistently, evidence. you And it's you our executing HeartCare, emerging innovation on market, our in differentiation

while the strategy really is is our we're we So into see go-to-market. our and pleased, baked growth and that this something

Andrew Cooper

what in comfortable X a Helpful. of response Could uses. when what to of you you commented that I from elaborate has you're regards little been you [ bit or I disruption regard? that more by whether then some been more getting little kind what something to and meant shouldn't just the have seeing of in a maybe, and of comment it Bill the on cause terms it's think kind in on ] Okay. And that clinicians think, John, bit really

John Hanna

Andrew. Sure, Yes.

could a this coverage where a for that a that be elevated. think be result is immunosuppression of pretest ordered a can creatine for a levels test could be result to clinical program. There as under criteria as the reflects on signs of the symptoms. what trying serum as result I could today ago, was commenting are It such on monitor another number which Alex Medicare It in was being performed a and the cause. scenarios change of It second of the patient. the in be

what done around in has team in more the that settings. the so comfortable to been scenarios at some and utility so it ordering have quite testing become educate policy those utilize is scenarios. those ] And scenarios considered Alex forecast with the as his appropriate, to And medically and our is clinicians which successfully necessary as driving, company has growth and and under reasonable [ and centers these both they they it that in can a degree, those more is

Andrew Cooper

around the quarter, the in year. this out, to Helpful. in. If out the were of terms million one XX.X that a backing you of the just I right, the rest I'm [ added one last if you XX math in of north in Okay. XQ being ] talk think lives little I ASP coverage. sneak Abhishek, about back doing bit terms Maybe $X,XXX for additional of you when said

some factors? moderating So higher from kind reason of we shouldn't what's number a maybe bit of expect trend or any here the little that to

Abhishek Jain

have in Yes. in those our of baked The not our midpoint of this, that some necessarily guide. kind I'm the the of way pieces end Andrew, of I high guide, about at thinking

kind it's from of to more high very level, not a So that's QX, ASP seeing a any the see. assumptions. how at be I'm here going change flattish step I

Operator

Mason to Carrico Stephens. next move of We'll

Mason Carrico

leave or an utilization talks on just has strong ordering on up, new it mean see of whether that impact your quarter. had really in with data once you through I'll it Congrats much clinicians? and adoption the them, a I trends? ramp of maybe reps Yes, frequency it's put front there. in How SHORE of a clinicians testing do pick

Alexander Johnson

Prague clinicians Yes. since, data this around has only early the This has heart been transplant, is big ], that I of a Mason. in topic think, and increased. for Ever [ Alex, introduction the

early for out SHORE. being years. and I starting This with early seeing think the The the X,XXX that's early tremendous. come center data. a see impact in we're we're study studies And to followed SHORE of of X going of to patients the just data I days the is amount XX of think is

going So to we're for getting started, that's some continue and time.

Mason Carrico

Got it.

of And framework increase you you're or there, could IOTA broadly engagement bit a conversations us having some the with of some little any transplant start the some model. your with their guys maybe Okay. the centers Has more of you give broad of utilize driven of Any early that I around around to to centers guess. color to implement sort color offerings?

Alexander Johnson

that increased is there They're themselves. well organize questions interest. are them certainly trying Centers certainly on help positioned know think are many in. And this there receiving coming. I we we're to is areas more to

Mason Carrico

quarter Okay. here. missed guys the willing would type did this, but to? the have be volume I And trends during across last you call you one out organ may

Abhishek Jain

No, we level. say, not at the But growth across volume we out the that what organ organs. can are seeing the all Mason, we growth called have

Operator

from next take We'll question Massaro of BTIG. Mark our

Vidyun Bais

LCD, update in any just sense you maybe out. about outcomes for on the the that that that range us the a Could data given them of and waiting had This give might coming final you've in data since I short dialogue out what Mark. is the look is read for weeks. understand interim just Vivian you're particularly a thinking with for we're CMS how

John Hanna

that policy prepared updated in months. want As coming the And CMS that remarks, transplant provide I to to the to access have will that, we publicly continue for we here assays monitoring be rejection. observed solid anticipate shared they organ state in

Medicine SHORE and of transplant monitoring our them We, asked, we the course, the as and, with do shared [indiscernible] we're agency our around have communicate with management. Nature you publication as that. for both so And regularly as data kidney with well

results there. the about reviewing diligent they So literature positive the and are

we'll final continue their await policy. just so And to

Unknown Analyst

prior one, collections. to dig Okay. just little on a period a pretty And substantial Perfect. in the more wanted was just bit number. It Understood. I

that hear in do contemplated they And year? the year? Or you guide the go further some I the do back tapering think say but remainder tests that? just we sequentially it to end prior the include should degree, So than off from is collections of about for did it of guys the the high

Abhishek Jain

Yes.

So out, that these prior tests periods. we're definitely they calling go back

part that we We including effort we test done I have that the believe number. the the quarter have And pan previously, $XX we quarters that of quite past lot we pool but that was kind a guidance. these not a the are in out and current in high done in of seen referencing, wins decided it shrinking, of that of available of any we've as the in of kind data what our on expectation in now, million few kind wins kind may on based the many to bake that is that's of end of

Operator

of Chen Yi Wainright. from question next our H.C. take We'll

Yi Chen

you talking you talk X are first when question prior back? the X primarily the to performed those is maybe quarters years about in X, tests or maybe X back in or about My in periods, X

Abhishek Jain

Yes.

back on So we these typically there few of we go multiple generally where quarters. around working years, have Yi and not Advantage a course, One with necessarily payers, called Medicare just these out are the these a couple tests have been tests, what of components is, Chen.

the that's first So part.

and of helping in we certain collections these on discussions kind ASPs our increased seeing And based on the the a how basis. the improving is us recognizing revenue payers with are which based are and quarter tests, our and second is we everybody, on actually part go-forward current that on

So there are X components there.

Yi Chen

Okay.

primarily top expect periods? the you in X term, growth? do So by equally or could X in collection they in current volume contribute near growth test top of better the maybe performed next the quarter? be growth line Or line to Or to quarters, the for driven tests prior

Abhishek Jain

is The to revenue for we is our Yi volume are way going saying and are high teens to the Chen, be be basically in in we guiding going mid-XXs. growth half, that growth the our second

is So of But is majority decent guidance you of there by expansion, pretty is piece revenue can basically that still which the growth in now. revenue in, volume. say our ASP because the driven still, the a baked

Operator

We'll take of ]. our next Debourcy question Nephron from Thomas Research [

Unknown Analyst

I prior guess back period the to question. going

a just the maybe negotiate period just that around commercial network incremental reimbursement? helping look-back plans, guess, Are getting plans clarify as So coverage. part either from to what's I of a I want this? Is M&A or you you

Abhishek Jain

that's question, starting Tom. let negotiations you with were have Yes. many an actually of Medicare here. And these payers. me No, these claims a national of decided been having great one -- payer example unpaid give Advantage process to We large we And the January XXXX.

not So now. just past negotiate that's of paid were that with an are that claims kind being able able some to the to in payment example we we sometimes payers as these we're of the get and to

Unknown Analyst

growth, even in a maybe related is maybe like it where obviously -- more, to, mentioned just last doctors -- from of transplant relative quarter. And that as order some guess, related overall, or follow-up volume towards across early I they doctors Understood. situations to shifting or faster monitoring the various understanding maybe terms impressive it's there's around majority then the you I guess, to test. just Do you transplant think I a adopting, middle just recognition in adopters, assay? greater of the top centers maybe

Alexander Johnson

is Alex. This Yes.

is their the So technologies bigger this getting of picture value. want help But one patients. a cause. these use clinicians with are I adoption these is these technologies. They think, right? an are ordering listen, of multiple, to that's area to early clearly in for we comfortable it's And of factor more cycle

monitor molecular launched years AlloSure a Kidney patients it, for right? think test have never was had Majority X ago, transplant. you If their about to of help

about that's excited us certainly way and about And cycle, gets go those every trends a place, helping long coming both really we so adoption what factor, think day. but in have when you a patients this on to it's

Operator

conclude well as our does This question-and-answer session for as today. our conference

You your and disconnect a everyone, great day. may have now lines,

CareDx (CDNA) 31 Jul 242024 Q2 Earnings call transcript