Company: VCYT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001384101-25-000130
Chunk: 31

Company: VERACYTE, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 Veracyte SAS, the Company released the related accumulated foreign currency translation adjustment from accumulated other comprehensive income into earnings. The loss on deconsolidation was calculated as the carrying amount of the former subsidiary’s net liabilities as of the deconsolidation date less the release of the accumulated foreign currency translation, recording of accounts payable and other expenses. The deconsolidation did not have a material effect on the Company’s ongoing operations or liquidity. The fair market value of Veracyte SAS was deemed to be zero consequently no goodwill was allocated. 

14

The following table summarizes the major classes of assets and liabilities of Veracyte SAS that were deconsolidated as of August 1, 2025 (in thousands of dollars):AmountsCurrent assets:Cash and cash equivalents$2,845 Accounts receivable2,087 Supplies and inventory4,318 Prepaid expenses and other current assets3,751 Total current assets13,001 Property, plant and equipment, net804 Right-of-use assets, operating leases673 Total assets deconsolidated14,478 Current liabilities:Accounts payable(3,171)Accrued Liabilities(6,004)Total current liabilities(9,175)Operating lease liabilities(9,459)Total liabilities deconsolidated(18,634)Net liabilities deconsolidated$(4,156)The loss on deconsolidation was calculated as follows (in thousands of dollars):Nine Months Ended September 30,Net liabilities deconsolidated$(4,156)Release of accumulated translation adjustment8,295 Recording of accounts payable to subsidiary 769 Other expenses1,800 Net loss on deconsolidation$6,708 Net cash outflows arising from the deconsolidation of the subsidiary was $2.9 million during the nine months ended September 30, 2025 related to the balance of cash and cash equivalents deconsolidated. Accrued LiabilitiesAccrued liabilities consisted of the following (in thousands of dollars):  September 30, 2025December 31, 2024Accrued compensation expenses$26,952 $30,595 Accrued other21,421 13,231 Total accrued liabilities$48,373 $43,826 

4. Business Combination

On February 5, 2024, or the Closing Date, the Company acquired 100% of the outstanding equity interests of C2i, or