CareDx Files Naveris Financials: Going Concern Warning in Acquired Business
CDNA has more than doubled off its 52-week low of $13.715.
Summary
CareDx's amendment to its Naveris acquisition filing reveals the acquired company had a going concern warning from its auditor and would have added $33.6 million to CareDx's FY2025 net loss on a pro forma basis.
Key Events · M&A and Partnerships · CDNA
-
Naveris Had Going Concern Warning
PwC's audit report on Naveris's FY2025 financials includes a going concern qualification. Naveris had an accumulated deficit of $65.9 million and negative operating cash flow of $1.1 million in Q1 2026.
-
Acquisition Cost $203.4M Total
Total purchase consideration was $203.4 million, including $146.7 million cash at closing, $7.6 million to option holders, $5 million escrow, and $44 million in contingent consideration fair value.
-
Pro Forma Loss Widens Significantly
The acquisition would have increased CareDx's FY2025 net loss from $21.4 million to $54.9 million, driven by $12.4 million in intangible amortization and $20.6 million in transaction costs.
-
Goodwill and Intangibles Total $196.9M
CareDx recognized $125.1 million in acquired intangible assets (developed technology, customer relationships, NavDx brand) and $71.8 million in goodwill from the acquisition.
Analysis · CDNA · Industrial Applications And Services
This amendment to the Naveris acquisition 8-K reveals that Naveris's audited financial statements carry a going concern qualification from PwC. Naveris had accumulated losses of $65.9 million and negative operating cash flow as of March 31, 2026. CareDx paid $203.4 million in total consideration for a business that was losing money and had substantial doubt about its ability to continue as a standalone entity. The pro forma financials show the acquisition would have increased CareDx's FY2025 net loss from $21.4 million to $54.9 million, driven by $12.4 million in intangible amortization and $20.6 million in transaction costs. This is a significant disclosure because it quantifies the financial burden of the acquisition and reveals the acquired business was in distress.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 34.8% of the 1152 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CDNA was trading at $53.55 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $13.72 to $54.49. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.