Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 31

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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5.3%)Probability of achievement10% - 90% (76%)10% - 90% (86%) Short-Term Investments Held-to-MaturityThe Company's short-term investments consist of United States treasury securities with maturities, at the time of purchase, that were between three months and one year. The Company classifies these investments as held-to-maturity debt securities, which are reported at amortized cost, and are Level I assets as described above. As of March 31, 2025 and December 31, 2024, short-term investments comprised United States treasury bills recorded at amortized cost of $101.2 million and $50.4 million, respectively, with fair values of approximately $101.3 million and $50.4 million, respectively. As of March 31, 2025, gross unrealized gains on short-term investments were insignificant.

6. Commitments and Contingencies

 Operating Leases The Company leases office and laboratory facilities in the U.S., including in South San Francisco and San Diego, California and Austin, Texas, and in Marseille, France, and leases certain equipment under various non-cancelable lease agreements. The lease terms extend to March 2040 and contain extension of lease terms and expansion options. The leases have a weighted average remaining lease term of 11.5 years as of March 31, 2025. The Company had deposits of $1.6 million and $1.5 million included in long-term assets as of March 31, 2025 and December 31, 2024, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the leases.

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Table of ContentsVERACYTE, INC.Notes to Financial Statements(unaudited)

The Company determined its operating lease liabilities using payments through their current expiration dates and a weighted average discount rate of 11.4% based on the rate that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment. Operating lease liabilities along with the associated right-of-use assets are disclosed in the accompanying condensed consolidated balance sheets.  After the adoption of ASC 842, Leases, or ASC 842, the Company classified its deferred rent for tenant improvements with its operating lease right-of-use assets on the consolidated balance sheets. Future minimum lease payments under non-cancelable operating leases