Company: VCYT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001384101-25-000014
Chunk: 141

Company: VERACYTE, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 141
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Operating expenses:Research and development69,294 11,989 21 %57,305 Selling and marketing95,434 (6,056)(6)%101,490 General and administrative110,610 24,381 28 %86,229 Impairment of long-lived assets3,368 (64,981)(95)%68,349 Intangible asset amortization - operating expenses3,297 1,191 57 %2,106 Total operating expenses282,003 (33,476)(11)%315,479 Income (loss) from operations16,142 101,937 119 %(85,795)Other income, net9,602 419 5 %9,183 Income (loss) before income taxes25,744 102,356 (134)%(76,612)Income tax provision (benefit)1,606 3,814 (173)%(2,208)Net income (loss)$24,138 $98,542 132 %$(74,404)Other Operating Data:Diagnostic tests reported142,925 27,140 23 %115,785 Product tests sold9,825 (1,367)(12)%11,192 Total test volume152,750 25,773 20 %126,977 Depreciation and amortization expense$23,459 $(3,729)(14)%$27,188 Stock-based compensation expense$36,249 $2,760 8 %$33,489 

Revenue

Revenue increased $84.7 million, or 23%, for the year ended December 31, 2024 compared to 2023. This was primarily due to a $92.4 million increase in testing revenue driven by a 23% volume increase and a 4% average selling price increase, partially offset by a $5.8 million decrease in our Biopharmaceutical and other revenue, as well as a $1.9 million decrease in our product revenue. 

Testing revenue increased by $92.4 million, or 28%, driven by a $73.4 million increase in Decipher revenue and a $19.8 million increase in Afirma revenue. Testing volume increased by 23% driven by Decipher volume growing to over 

73

80,000 tests, representing a year-over-year growth of 36%, additionally Afirma