Company: VCYT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001384101-25-000060
Chunk: 83

Company: VERACYTE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 to decline as a percentage of revenue thereafter.

Intangible Asset Amortization - Operating Expenses

Our finite-lived intangible assets, acquired in business combinations, are being amortized over 5 to 15 years, using the straight-line method. Intangible asset amortization - operating expenses includes amortization of finite-lived intangible assets related to developed technology utilized in the development of future product and service offerings, trade names and customer relationships.

Other Income (Loss), Net

Other income (loss), net consists primarily of interest income from our cash held in interest bearing accounts, realized and unrealized gains and losses on foreign currency transactions, and French research tax credits. The French research tax credits (crédit d’impôt recherche, or CIR) are generated by our wholly owned subsidiary, Veracyte SAS, in connection with its research efforts performed in Marseille, France. 

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Results of Operations

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

 Three Months Ended 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,