Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 45

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 March 31, 20252024Change%Revenue:    Testing revenue$107,309 $90,303 $17,006 19%Product revenue3,580 3,537 43 1%Biopharmaceutical and other revenue3,584 3,004 580 19%Total revenue114,473 96,844 17,629 18%Cost of revenue:    Cost of testing revenue28,260 25,979 2,281 9%Cost of product revenue1,422 2,644 (1,222)(46)%Cost of biopharmaceutical and other revenue2,698 2,838 (140)(5)%Intangible asset amortization - cost of revenue2,585 2,915 (330)(11)%Total cost of revenue34,965 34,376 589 2%Gross profit79,508 62,468 17,040 27%Operating expenses:Research and development17,720 15,965 1,755 11%Selling and marketing24,454 23,782 672 3%General and administrative33,808 26,210 7,598 29%Impairment of long-lived assets— 429 (429)(100)%Intangible asset amortization - operating expenses622 738 (116)(16)%Total operating expenses76,604 67,124 9,480 14%Income (loss) from operations2,904 (4,656)7,560 (162)%Other income, net4,524 2,748 1,776 65%Income (loss) before income taxes7,428 (1,908)9,336 (489)%Income tax provision (benefit)381 (44)425 (966)%Net income (loss)$7,047 $(1,864)$8,911 (478)%Other Operating Data:    Diagnostic tests reported38,078 30,969 7,109 23%Product tests sold2,577 2,455 122 5%Total test volume40,655 33,424 7,231 22%Depreciation and amortization expense$5,362 $5,590 $(228)(4)%Stock-based compensation expense$10,958 $8,019 $2,939 37%

Revenue

Revenue increased $17.6