Veracyte Q1 revenue up 85% to $67.8M; net loss narrows 65%

VERACYTE, INC.

2022-Q1 EPS reported -$0.20 revenue$67,783,000

Total revenue $67.8M, +85% YoY; test volumes 23,245, +61% YoY.
Testing revenue $56.0M (+69%); Biopharma and other $8.8M (vs $0.6M); product revenue $3.0M (-3%).
GAAP net loss $14.5M, improved 65%; diluted EPS loss $0.20, improved 70%.
Non-GAAP gross margin 65%, roughly flat; cash $163.6M at quarter-end.
Business highlights: expanded Percepta data at ATS, three AUA abstracts, launch of Biopharma Atlas.

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