Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 109

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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 31, 2025 and 2024 is as follows (in thousands of dollars, except percentages):

 Three Months Ended March 31, 20252024Change%General and administrative expense:    Compensation expense$20,173 $17,759 $2,414 14 %Professional fees14,721 7,464 7,257 97 %Information technology expense3,588 2,741 847 31 %Occupancy costs3,111 2,553 558 22 %Depreciation and amortization1,055 966 89 9 %Revaluation of acquisition-related contingent consideration(1,954)5 (1,959)NMOther expenses1,369 1,308 61 5 %Allocations(8,255)(6,586)(1,669)25 %Total$33,808 $26,210 $7,598 29 %

General and administrative expense increased by $7.6 million for the three months ended March 31, 2025, compared to the same period in 2024. Compensation expense for the three months ended March 31, 2025 compared to the same period in 2024 increased primarily due to annual merit increases, additional headcount and higher stock-based compensation. Partially offsetting these impacts was a reduction in restructuring costs recognized in the prior year. Professional fees increased $7.3 million primarily due to $3.8 million of one-time expense related to the on-going proceedings regarding the bankruptcy petition filing made by our French subsidiary, Veracyte SAS, and a one-time $3.3 million payment related to the C2i Acquisition. Information technology expenses increased primarily related to continued investment in our cloud infrastructure, and additional investment in our software development capabilities. Occupancy costs increased primarily due to our expansion of our South San Francisco facilities commitment to support our future growth plans, and contingent consideration decreased $2.0 million primarily in relation to a reversal of expense when the contingency related to our C2i Acquisition was remeasured. General and administrative expenses related to occupancy costs and information technology costs are allocated to general and administrative expense, selling and marketing expense, research and development expense, and cost of revenue based on the headcount and employee location.  

Other income, net

Other income, net, increased $1.8 million for the three months ended March 31, 2025 compared to the