Strong Revenue Growth
Total revenue of $100.1 million grew 21% year-over-year, with all three business segments generating record quarterly revenue.
Improved EBITDA and Share Repurchase
Adjusted EBITDA was $15.3 million, more than double Q3 last year. The company repurchased an additional 2 million shares during the quarter.
Launch of HistoMap Kidney
CareDx launched HistoMap Kidney, a breakthrough tissue-based molecular test, at the American Society of Nephrology meeting.
Revenue Cycle Management Success
The company achieved over 200% improvement in total appeals volume and a 60% improvement in claims submission time, with cash collections accelerating to 124% of testing services revenue.
EPIC Integration Enhancements
EPIC Aura integration projects are in process, with positive feedback from the Boston Children's pilot, leading to a 20% reduction in order turnaround time.