Veracyte Q3 2023 revenue up 19% to $90.1M; net loss widens on $34.9M impairment

VERACYTE, INC.

2023-Q3 EPS reported -$0.64 revenue$262,852,000

Total revenue $90.1M, +19% YoY; testing revenue $82.0M, +27% YoY.
Net loss $29.6M ($0.41 per share) vs $8.7M loss a year ago; includes $34.9M impairment from nCounter license.
Total test volume 32,544, +23% YoY.
Non-GAAP gross margin 69% vs 66% prior year; generated $14.2M cash from ops, cash $202.5M.
Management cites strong demand for Decipher Prostate and Afirma tests driving growth.

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 1.0

VERACYTE, INC. reported the third quarter ended September 30, 2023 results: revenue $90.1 million, net income Net loss for the third quarter of 2023 was $29.6 million, EPS $0.41.

Period: the third quarter ended September 30, 2023
Revenue: $90.1 million
Net income: Net loss for the third quarter of 2023 was $29.6 million
EPS: $0.41
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1 PRESS RELEASE 11-07-2023) --- PRESS RELEASE 11-07-2023 Document Exhibit 99.1 Veracyte Announces Third Quarter 2023 Financial Results Grew Total Revenue to $90.1 million, an Increase of 19% Grew Testing Revenue by 27% Conference Call and Webcast Today at 4:30 p.m. ET SOUTH SAN FRANCISCO, Calif., November 7, 2023 --- Veracyte, Inc. (Nasdaq: VCYT)

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Source: SEC EDGAR

accession 0001384101-23-000161

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