CareDx Stock Soars 24% as Testing Revenue Jumps 65% and Transplant Test Maker Lifts 2026 Sales Outlook

CareDx shares jumped nearly 24% in early trading Friday. The transplant diagnostics company reported third-quarter revenue growth of 39%, sharply raised its full-year forecast and laid out plans to launch new tests next year.

The stock rose $16.98, or 23.8%, to $88.50, well above its previous 52-week high of $73.43. The gain lifted CareDx's market value to about $4.6 billion.

The shares have nearly quintupled over the past year, up about 377% over 52 weeks.

Revenue jumps 39%

CareDx reported third-quarter revenue of $139 million, up 39% from $100 million a year earlier. The result beat analysts' estimate of about $120.6 million, according to a Reuters-based market summary.

Testing services revenue, the company's core business, rose 65% to $119 million. Test volume rose 51% to about 75,900, helped by the specialty oncology business CareDx added through its July 1 acquisition of Naveris.

Patient and digital solutions revenue rose 31% to $20 million.

The company reported net income of $19 million, or 37 cents a share. Adjusted EBITDA roughly doubled to $30 million, and the adjusted EBITDA margin rose to about 22% from 15%.

"We are extending our leadership in transplantation, expanding into specialty oncology," Chief Executive John Hanna said.

Key third-quarter figures:

Revenue: $139 million, up 39% Testing services revenue: $119 million, up 65% Test volume: about 75,900, up 51% Net income: $19 million, or 37 cents a share Adjusted EBITDA: $30 million, about a 22% margin Cash: $250 million, no debt

Outlook raised

CareDx raised its 2026 revenue forecast to $520 million to $530 million, up from $490 million to $500 million. The new range implies growth of about 38% from last year's $380 million.

It also raised its adjusted EBITDA forecast to $90 million to $100 million, from $66 million to $78 million.

Oncology expansion

The Naveris deal brought CareDx into cancer testing with NavDx, a blood test used to monitor HPV-related head and neck cancers. Specialty oncology made up about 20% of test volume in its first full quarter with the company and contributed $12 million in revenue.

Chief Financial Officer Keith Kennedy said he expects NavDx pricing to rise over time and believes it "will be able to see price appreciation up to $1,000 or higher over time." The test currently brings in about $823 per test.

New tests planned

CareDx is preparing two new launches for 2027.

AlloHeme is a blood test designed to detect relapse in patients with acute myeloid leukemia and myelodysplastic syndromes after cell therapy. In company data, it identified molecular relapse a median of 41 days before clinical diagnosis.

HistoMap Kidney is a tissue-based test designed to classify types of rejection in kidney transplant patients. CareDx said it is targeting lab readiness for both tests by the end of 2026.

Profitability and cash

Kennedy noted that the company has achieved "positive net income all three quarters this year" and is generating "significant cash flow from operations."

CareDx ended the quarter with about $250 million in cash and no debt, giving it room to invest in new products.

Transplant testing, the company's original business, also grew. Transplant test volume rose 21% to about 60,750, and revenue per transplant test rose 22% to $1,756.

A dramatic turnaround

CareDx's surge marks a sharp turnaround for a company whose shares traded near $14 a year ago amid concerns over reimbursement and billing practices.

Since then, the company has returned to profitability, expanded through acquisitions and benefited from growing use of its transplant monitoring tests.

Investors will be watching whether CareDx can sustain growth while integrating its oncology business and launching new tests next year.