Veracyte is a molecular-diagnostics company whose principal products are Decipher Prostate and Afirma thyroid tests. It processes U.S. laboratory tests centrally and distributes diagnostic kits internationally, with an expanding portfolio in breast cancer and bladder-cancer monitoring.
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A snapshot of what VERACYTE, INC. owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230001384101-24-000017 | Feb 29, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240001384101-25-000014 | Feb 28, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001384101-26-000010 | Feb 26, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Veracyte’s established cancer-testing franchises are generating stronger earnings and operating cash flow, but headline improvements also reflect collection adjustments, acquisition-accounting credits and changes in its French operations. Revenue reached $517.1 million in 2025, with $66.4 million of GAAP net income; first-half 2026 revenue was $289.4 million and net income was $54.2 million. Decipher Prostate and Afirma remain the economic foundation. Prosigna LDT and TrueMRD launched in the second quarter of 2026, while September’s completed Convergent acquisition adds a longer-dated bladder-cancer opportunity requiring substantial upfront cash before an expected, reimbursement-dependent late-2028 launch. The central trade-off is stronger existing-test economics versus continuing reimbursement, development, supplier and acquisition execution risks. This view uses supplied disclosures through September 14, within the October 24, 2026 source cutoff.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-07-30 · 8-K · 2026-09-10 · EX-99.1 · 2026-09-10
Decipher Prostate helps inform prostate-cancer treatment decisions, while Afirma helps classify indeterminate thyroid nodules. Veracyte generally bills insurers or patients for tests processed in its U.S. laboratories and bears collection risk. International Prosigna customers instead purchase kits and perform testing locally. Testing, products and biopharmaceutical services are revenue categories within one reporting segment, not independently reported businesses with fully allocated profits.
Clinical evidence, physician adoption and payer coverage reinforce one another, but none guarantees payment for every completed test. Revenue is recognized using estimated collectible consideration rather than billed list prices. Favorable collections on prior-year tests contributed $6.2 million in 2025 and $8.7 million in first-half 2026. These amounts are already included in revenue, so reported revenue per test is not a clean measure of current pricing.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30
Revenue increased from $361.1 million in 2023 to $445.8 million in 2024 and $517.1 million in 2025. GAAP results moved from a $74.4 million loss to profits of $24.1 million and $66.4 million. Testing demand drove growth, while international services weakened. The 2024 turnaround also benefited from sharply lower impairment charges. In 2025, testing costs grew more slowly than diagnostic volume, supporting operating leverage.
The 2025 result was not purely recurring improvement: acquisition-liability remeasurement produced a $15.3 million credit, while French operations generated a $20.5 million impairment and a separate $6.7 million deconsolidation loss. Veracyte lost control of its French subsidiary on August 1, 2025. Its results remained in continuing operations through that date; completed deconsolidation does not establish completed liquidation.
Sources: 10-K · 2023-12-31 · 10-K · 2024-12-31 · 10-K · 2025-12-31
Operating cash flow reached $136.3 million in 2025 and $81.0 million in first-half 2026. These figures exceed net income partly because noncash compensation and other charges are added back; they are not alternative profit measures. At June 30, cash and equivalents were $299.5 million and short-term investments $185.7 million, together $485.2 million versus $412.9 million at year-end. Cash alone declined mainly as funds moved into investments. Restricted cash is separate.
First-half cash capital expenditure was $5.8 million. Employee share-vesting tax payments exceeded equity-plan proceeds, creating a financing cash outflow rather than a discretionary buyback. Operating lease liabilities were $40.1 million. The supplied reports establish no available credit facility or covenant headroom. June liquidity predates the Convergent acquisition and must not be presented as the post-acquisition balance.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · 8-K · 2026-09-10
First-half 2026 revenue rose 18% to $289.4 million, and GAAP net income reached $54.2 million versus $6.1 million. Demand and collections improved, but the comparison also benefits from the absence of the prior-year French impairment. A $12.5 million reassignment of software expenses from G&A into R&D explains much of the apparent spending shift between those functions; it is not equivalent to additional company-wide spending.
Prosigna LDT and TrueMRD launched in the second quarter, and the company reported Medicare coverage for the TrueMRD Monitoring Test. July guidance called for $590–596 million of 2026 revenue and adjusted EBITDA margin above 26%. On September 14, Veracyte completed Convergent’s acquisition for stated upfront cash consideration of $150 million, subject to adjustments, plus up to $30 million contingent on publication and reimbursement milestones. Its first planned UroAmp application is expected in late 2028, subject to reimbursement timing.
Sources: 10-Q · 2026-06-30 · EX-99.1 · 2026-07-30 · 8-K · 2026-09-10 · EX-99.1 · 2026-09-10
Medicare and UnitedHealthcare represented 33% and 13% of first-half 2026 revenue, respectively; Medicare Advantage is classified with private payers. Coverage restrictions, payment disputes and future reimbursement resets can affect realized revenue. Sole-source suppliers, outsourced Prosigna manufacturing, clinical-development execution and substantial acquisition goodwill remain additional exposures. Patent litigation against Sonic is pending, not a realized recovery. New-product launches establish availability, not durable adoption, profitability or cash returns.
Sources: 10-Q · 2026-06-30 · 10-K · 2025-12-31 · EX-99.1 · 2026-09-10
USD 517.145 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 517.145 m | 16.0% |
| 2024 | USD 445.764 m | 23.5% |
| 2023 | USD 361.051 m | — |
Consolidated revenue across testing, product, and biopharmaceutical and other categories.
Sources: 10-K · 2025-12-31
USD 66.353 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 66.353 m | 174.9% |
| 2024 | USD 24.138 m | — |
Consolidated GAAP net income or loss after income taxes.
Sources: 10-K · 2025-12-31
USD -74.404 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD -74.404 m | — |
Consolidated GAAP net income or loss after income taxes.
Sources: 10-K · 2025-12-31
USD 136.307 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 136.307 m | 81.5% |
| 2024 | USD 75.096 m | 69.8% |
| 2023 | USD 44.222 m | — |
Consolidated GAAP cash flow from operating activities, after operating working-capital changes.
Sources: 10-K · 2025-12-31
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