Company: VCYT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001384101-25-000110
Chunk: 79

Company: VERACYTE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 of June 30, 2025 and December 31, 2024, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the leases.The Company determined its operating lease liabilities using payments through their current expiration dates and a weighted average discount rate of 11.4% based on the rate that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment. Operating lease liabilities along with the associated right-of-use assets are disclosed in the accompanying condensed consolidated balance sheets.  After the adoption of ASC 842, Leases, or ASC 842, the Company classified its deferred rent for tenant improvements with its operating lease right-of-use assets on the consolidated balance sheets. 

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Table of ContentsVERACYTE, INC.Notes to Financial Statements(unaudited)

Future minimum lease payments under non-cancelable operating leases as of June 30, 2025 are as follows (in thousands of dollars): Year Ending December 31,AmountsRemainder of 2025$4,263 20265,903 20278,503 20288,677 20298,362 Thereafter56,821 Total future minimum lease payments92,529 Less: amount representing interest41,883 Present value of future lease payments50,646 Less: short-term lease liabilities6,414 Long-term lease liabilities$44,232  The Company recognizes operating lease expense on a straight-line basis over the non-cancelable lease period. The following table summarizes operating lease expense and cash paid for amounts included in the measurement of lease liabilities (in thousands of dollars): Three Months Ended June 30,Six Months Ended June 30,2025202420252024Operating lease expense$2,182 $1,422 $4,362 $2,964 Cash paid for amounts included in the measurement of lease liabilities$1,977 $1,534 $3,899 $3,163 ContingenciesFrom time to time, the Company may be involved in various legal proceedings and claims arising in the ordinary course of business. Although the outcomes of such matters cannot be predicted with certainty, the Company believes there is no litigation pending that could have, either individually or in the aggregate, a material adverse impact on the Company's consolidated financial statements.On May 1, 2025, the Company filed a complaint in