Veracyte Q1 revenue $96.8M (+17%), testing revenue +25%, net loss narrows 77%

VERACYTE, INC.

2024-Q1 EPS reported -$0.02 revenue$96,844,000

Total revenue $96.8M (up 17% YoY); testing revenue $90.3M (up 25%) led by Decipher Prostate and Afirma.
Net loss improved 77% to $1.9M ($0.02 per share) from $8.3M loss in Q1 2023.
Non-GAAP gross margin held at 68%; non-GAAP op expenses grew 6% to $61.6M.
Decipher Prostate received highest NCCN rating; contracted with large commercial payer covering ~30M members.
Completed C2i Genomics acquisition for MRD testing; initiated bladder cancer MRD test; cash $209.2M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERACYTE, INC. reported first quarter ended March 31, 2024 results: revenue $96.8 million, net income $1.9 million, EPS $0.02.

Period: first quarter ended March 31, 2024
Revenue: $96.8 million
Net income: $1.9 million
EPS: $0.02
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1 PRESS RELEASE 05.07.2024) --- PRESS RELEASE 05.07.2024 Document Exhibit 99.1 Veracyte Announces First Quarter 2024 Financial Results Grew total revenue to $96.8 million, an increase of 17% Grew testing revenue by 25% Conference call and webcast today at 4:30 p.m. ET SOUTH SAN FRANCISCO, Calif., May 7, 2024 --- Veracyte, Inc. (Nasdaq: VCYT) today

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Source: SEC EDGAR

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