Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 68

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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, contingent upon first achievement or occurrence, by or on behalf of the Company, of the commercial launch of the first, second and third diagnostic tests for use on the nCounter 

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

multiplex analysis system. This contingency was valued at $6.1 million as of the acquisition date and is remeasured to fair value at each reporting date until the contingent consideration is settled, with the corresponding changes included in general and administrative expense in the Company's condensed consolidated statements of operations. As of both March 31, 2025 and December 31, 2024, this contingency was remeasured to $3.3 million. For both the three months ended March 31, 2025 and 2024, no expense was recorded. As of March 31, 2025, the achievement of one of the milestones is forecasted to occur within the next 12 months. As a result, $2.7 million of the contingent consideration is included in short term liabilities at March 31, 2025. The contingent consideration related to the C2i Acquisition as discussed in Note 4, is dependent on the achievement of certain milestones and is payable in cash or shares of the Company’s common stock, at the Company’s election, of up to $25 million and was valued at $17.2 million. The fair value of the contingent consideration related to the C2i Acquisition will be remeasured to fair value at each reporting date until the contingent consideration is settled, with the corresponding changes included in general and administrative expense. As of March 31, 2025 and December 31, 2024, this contingency was remeasured to $11.6 million and $14.3 million, respectively. For the three months ended March 31, 2025, a reversal of expense of $2.0 million was recorded. As of March 31, 2025, the achievement of all of the remaining milestones is forecasted to occur within the next 12 months. As a result, the contingent consideration is included in short term liabilities at March 31, 2025. During the year ended December 31, 2024, one of the milestones was achieved resulting in the payment of $5.0 million in cash and, during the three months ended March 31, 2025, one of the milestones was achieved resulting in the payment