Company: VCYT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001384101-25-000130
Chunk: 52

Company: VERACYTE, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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$5,267 $5,878 $(611)(10)%$16,117 $17,206 $(1,089)(6)%Stock-based compensation expense$10,757 $8,747 $2,010 23%$32,700 $26,620 $6,080 23%

Revenue

Revenue increased $16.0 million for the three months ended September 30, 2025 compared to the same period in 2024. This was primarily due to a $18.2 million increase in testing revenue partially offset by a $2.3 million decrease in our biopharmaceutical and other revenue. The $2.3 million decrease was due to continued decline in the biopharma business conducted in France and the ultimate deconsolidation of Veracyte SAS in August 2025. The 17% growth in testing revenue was primarily driven by a 19% volume increase, partially offset by lower prior period collections compared to the prior year period. 

Revenue increased $49.4 million for the nine months ended September 30, 2025 compared to the same period in 2024. This was primarily due to a $50.5 million increase in testing revenue and a $1.0 million decrease in our biopharmaceutical and other 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 and the decision to stop marketing Envisia. The Biopharmaceutical and other revenue decrease was driven primarily by a continued decline in biopharmaceutical services, as well as contract development and manufacturing services projects as a result of the restructuring proceedings affecting Veracyte SAS that were underway throughout 2025.

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Product revenue was flat for the three and nine months ended September 30, 2025 compared to the same periods in 2024. 

Cost of revenue

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

 Three Months Ended September 30,Nine Months Ended September 30, 20252024Change%20252024Change%Cost of testing revenue:        Laboratory supplies and reagents expense$14,766 $13,887 $879 6 %$43,134 $39,131 $4,003 10 %Sample