Company: VCYT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001384101-25-000110
Chunk: 122

Company: VERACYTE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 122
---
 year period. 

Revenue increased $33.4 million for the six months ended June 30, 2025 compared to the same period in 2024. This was primarily due to a $32.3 million increase in testing revenue and a $1.3 million increase in our biopharmaceutical and other revenue, partially offset by a $0.3 million decrease in our product revenue. The 16% growth in testing revenue was primarily driven by a 20% volume increase, partially offset by lower prior period collections compared to the prior year period. 

Product revenue decreased $0.3 million for the three and six months ended June 30, 2025 compared to the same periods in 2024. 

26

Biopharmaceutical and other revenue increased by $0.8 million for the three months ended June 30, 2025 and increased by $1.3 million for the six months ended June 30, 2025, compared to the same periods in 2024, driven primarily by an increase of customer projects related to our U.S. CLIA test offering.

Cost of revenue

Comparison of the three and six months ended June 30, 2025 and 2024 is as follows (in thousands of dollars, except percentages):

 Three Months Ended June 30,Six Months Ended June 30, 20252024Change%20252024Change%Cost of testing revenue:        Laboratory supplies and reagents expense$15,304 $13,326 $1,978 15 %$28,369 $25,244 $3,125 12 %Sample collection expense3,494 3,164 330 10 %6,320 6,221 99 2 %Compensation expense6,023 5,139 884 17 %11,634 10,354 1,280 12 %Cytopathology services1,615 1,494 121 8 %3,071 2,867 204 7 %Depreciation and amortization556 429 127 30 %986 856 130 15 %Other expenses2,002 1,556 446 29 %3,502 2,602 900 35 %Allocations3,413 2,812 601 21 %6,785 5,755 1,