Company: VCYT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001384101-25-000130
Chunk: 86

Company: VERACYTE, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 securities, which are reported at amortized cost, and are Level I assets as described above. As of September 30, 2025 and December 31, 2024, short-term investments comprised United States treasury bills recorded at amortized cost of $50.9 million and $50.4 million, respectively, with fair values of approximately $50.9 million and $50.4 million, respectively. As of September 30, 2025, gross unrealized gains or losses 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, prior to August 2025, in Marseille, France, and leases certain equipment under various non-cancelable lease agreements. Effective August 2025, in connection with the restructuring proceeding in Veracyte SAS, the Company is no longer a party to the lease in Marseille, France. The lease terms of the Company’s leases as of September 30, 2025 extend to March 2040 and contain extension of lease terms and expansion options. The leases have a weighted average remaining lease term of 11.3 years as of September 30, 2025. The Company had deposits of $1.6 million and $1.5 million included in long-term assets as of September 30, 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.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. 

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

Future minimum lease payments under non-cancelable operating leases as of September 30, 2025 are as follows (in thousands of dollars): Year Ending December