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VCYT

Veracyte, Inc.

VCYT

Veracyte, Inc. • NASDAQ
$47.34 ▼ -0.78% (-0.37)
Market Cap $3.74 B
52w High $50.71
52w Low $22.61
Dividend Yield 0%
P/E 124.58
Volume 262.59K
Outstanding Shares 79.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $131.872M ▲ $66.243M ▼ $19.137M ▲ 14.512% ▲ $0.243 ▲ $24.155M ▲
Q2-2025 $130.164M ▲ $95.037M ▲ $-980K ▼ -0.753% ▼ $-0.013 ▼ $6.739M ▲
Q1-2025 $114.473M ▼ $76.604M ▲ $7.047M ▲ 6.156% ▲ $0.09 ▲ $6.526M ▼
Q4-2024 $118.632M ▲ $74.579M ▲ $5.113M ▼ 4.31% ▼ $0.07 ▼ $9.696M ▼
Q3-2024 $115.86M $66.993M $15.155M 13.08% $0.2 $22.727M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $366.428M ▲ $1.368B ▲ $110.12M ▼ $1.258B ▲
Q2-2025 $320.719M ▲ $1.344B ▲ $123.047M ▲ $1.221B ▲
Q1-2025 $287.355M ▼ $1.315B ▲ $120.475M ▼ $1.195B ▲
Q4-2024 $289.441M ▲ $1.3B ▲ $124.069M ▲ $1.176B ▼
Q3-2024 $274.079M $1.275B $98.979M $1.176B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $19.137M ▲ $44.757M ▲ $48.263M ▲ $2.977M ▲ $96.074M ▲ $41.965M ▲
Q2-2025 $-980K ▼ $33.605M ▲ $-224K ▲ $-566K ▲ $33.388M ▲ $32.319M ▲
Q1-2025 $7.047M ▲ $5.362M ▼ $-51.818M ▲ $-6.484M ▼ $-52.866M ▼ $3.543M ▼
Q4-2024 $5.113M ▼ $24.524M ▼ $-54.141M ▼ $-4.51M ▼ $-34.528M ▼ $20.383M ▼
Q3-2024 $15.155M $29.963M $-2.242M $10.289M $38.156M $27.721M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Biopharmaceutical And Other
Biopharmaceutical And Other
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Product
Product
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Testing
Testing
 $220.00M ▲$110.00M ▼$120.00M ▲$130.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, roughly multiplying several times, which shows strong demand for Veracyte’s tests and services. Gross profit has risen in line with sales, suggesting the underlying test economics are solid and the company is scaling reasonably well. After several years of operating and net losses, Veracyte has recently turned a small profit, indicating that its business model is approaching maturity. However, profitability is still relatively modest and likely sensitive to any slowdown in growth or increase in spending, so there is not yet a long track record of stable earnings.

Balance Sheet

Balance Sheet The balance sheet looks conservatively structured. Total assets and shareholder equity have increased meaningfully over time, reflecting reinvestment into the business and past acquisitions. Debt remains quite low relative to the size of the company, which reduces financial risk and interest burden. Cash levels are healthy, though not excessive, and have fluctuated with acquisitions and investments. Overall, Veracyte appears to have a solid capital base and limited leverage, giving it room to navigate industry cycles and fund development without relying heavily on borrowing.

Cash Flow

Cash Flow Cash generation has improved notably. Operating cash flow has moved from negative to clearly positive territory, which suggests the core business is now funding itself rather than relying mainly on external capital. Free cash flow has also turned positive and has been edging up, helped by relatively modest capital spending requirements. The business appears asset-light, with limited needs for heavy equipment or facilities. That said, free cash flow is still at a developing stage, so large strategic moves or slower growth could swing cash generation more quickly than in a mature, highly cash-generative company.

Competitive Edge

Competitive Edge Veracyte occupies a differentiated niche in genomic diagnostics, especially in thyroid, prostate, bladder, lung, and certain lung-fibrosis conditions. Its strength comes from a combination of deep clinical evidence, inclusion in treatment guidelines, and broad reimbursement, all of which build physician trust and make its tests easier to adopt. The company’s large, proprietary genomic datasets and its focus on RNA-based, whole-transcriptome analysis create a technical and data moat that is not easy to replicate quickly. Established sales relationships in key specialties add another layer of defense. On the risk side, the broader genomic diagnostics market is competitive and fast-moving, reimbursement policies can evolve, and larger players or new technologies in liquid biopsy and minimal residual disease could pressure pricing or share over time.

Innovation and R&D

Innovation and R&D Innovation is a clear centerpiece of Veracyte’s strategy. The company’s core platform combines whole-transcriptome RNA sequencing with machine learning, enabling tests that do more than simple yes/no answers by offering risk scores and treatment guidance. Its portfolio spans Afirma for thyroid nodules, Decipher for prostate and bladder cancer, Envisia for lung fibrosis, Percepta for lung cancer risk, and Prosigna for breast cancer, providing diversification across multiple diseases. Recent moves, such as the acquisition of C2i Genomics for minimal residual disease testing and HalioDx for immuno-oncology and European manufacturing, expand Veracyte’s technology base and geographic reach. Partnerships with Illumina and the push into in vitro diagnostic kits aim to put its assays into local labs worldwide. The opportunity is to turn this platform and pipeline into a broad, global franchise, but execution risk is meaningful: clinical validation, regulatory approvals, guideline inclusion, and reimbursement timelines can be long and uncertain, and integration of new technologies must be managed carefully.

Summary

Veracyte has evolved from a loss-making growth story into a business that is approaching sustainable profitability, backed by steady revenue growth and improving margins. Its balance sheet is relatively strong, with low debt and growing equity, and cash generation has moved in the right direction, indicating increasing financial self-sufficiency. Competitively, the company benefits from deep clinical evidence, strong reimbursement, proprietary data, and a focused commercial presence in key specialties. Its innovation engine, built around RNA sequencing, AI, and strategic acquisitions, positions it to expand into new cancer types, minimal residual disease testing, and global IVD markets. The main things to watch are the durability of its recent profitability, the pace of adoption of new tests, regulatory and reimbursement dynamics, and how well it integrates and commercializes its expanding pipeline and technologies.

NEWS

November 6, 2025 · 8:30 AM UTC

Veracyte to Participate in Upcoming Investor Conferences

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November 4, 2025 · 4:05 PM UTC

Veracyte Announces Third Quarter 2025 Financial Results

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November 3, 2025 · 4:15 PM UTC

Veracyte Announces First Publications Using Afirma GRID Research Tool To Help Usher in Next Generation of Thyroid Nodule Testing

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October 15, 2025 · 5:31 PM UTC

Veracyte to Release Third Quarter 2025 Financial Results on November 4, 2025

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September 28, 2025 · 4:00 PM UTC

Veracyte Announces that Decipher-Enabled Biomarker Predicts Hormone Therapy Benefit in Men with Recurrent Prostate Cancer

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