Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 46

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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million for the three months ended March 31, 2025 compared to the same period in 2024. This was primarily due to a $17.0 million increase in testing revenue driven by a 23% volume increase and a 3% average selling price decrease, and by a $0.6 million increase in our biopharmaceutical and other revenue. The increase in testing revenue and tests reported for the three months ended March 31, 2025 was due to Decipher Prostate and Afirma revenue growing 22% partially offset by a $1.4 million decrease in Envisia revenue. 

Product revenue increased 1% for the three months ended March 31, 2025 compared to the same period in 2024. The result was primarily driven by an increase in demand in test kits and partially offset by lower service revenue.

Biopharmaceutical and other revenue increased by $0.6 million for the three months ended March 31, 2025 compared to the same period in 2024, driven primarily by an increase of customer projects related to our US product offering.

25

Cost of revenue

Comparison of the three months ended March 31, 2025 and 2024 is as follows (in thousands of dollars, except percentages):

 Three Months Ended March 31, 20252024Change%Cost of testing revenue:    Laboratory supplies and reagents expense$13,067 $11,918 $1,149 10 %Sample collection expense2,825 3,057 (232)(8)%Compensation expense5,611 5,215 396 8 %Cytopathology services1,455 1,373 82 6 %Depreciation and amortization430 427 3 1 %Other expenses1,500 1,046 454 43 %Allocations3,372 2,943 429 15 %Total$28,260 $25,979 $2,281 9 %Cost of product revenue:    Product costs$109 $1,263 $(1,154)(91)%License fees and royalties324 436 (112)(26)%Depreciation and amortization178 225 (47)(21)%Other expenses614 599 15 3 %Allocations197 121 76 63 %Total$1,422 $2,644 $(1