Veracyte Q1 beats: revenue $82.4M (+22%), net loss shrinks 44% to $8.1M

VERACYTE, INC.

2023-Q1 EPS reported -$0.11 revenue$82,422,000

Total revenue $82.4M (+22% YoY); testing revenue $72.4M (+29%); product revenue $3.9M (+31%).
Net loss improved 44% to $8.1M; diluted EPS -$0.11 from -$0.20.
Total test volume 28,788 (+24%); ended cash $177.9M near flat.
Non-GAAP gross margin 68% (vs 65%); operating expenses up 14% to $61.9M.
Enhanced Afirma test with TERT promoter testing; secured 4 new payer contracts.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VERACYTE, INC. reported the first quarter ended March 31, 2023 results: revenue $82.4 million, net income $8.1 million, EPS $0.11.

Period: the first quarter ended March 31, 2023
Revenue: $82.4 million
Net income: $8.1 million
EPS: $0.11
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1 PRESS RELEASE 05.04.2023) --- PRESS RELEASE 05.04.2023 Document Exhibit 99.1 Veracyte Announces First Quarter 2023 Financial Results Grew Total Revenue to $82.4 million, an Increase of 22% Conference Call and Webcast Today at 4:30 p.m. ET SOUTH SAN FRANCISCO, Calif., May 4, 2023 --- Veracyte, Inc. (Nasdaq: VCYT) today announced financial results

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Source: SEC EDGAR

accession 0001384101-23-000065

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