Company: VCYT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001384101-25-000110
Chunk: 124

Company: VERACYTE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 124
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13%, for the six months ended June 30, 2025 compared to the same period in 2024. The increase in cost of testing revenue was due to increased volume in testing, higher staffing to support testing performance and the build out of infrastructure related to current and future growth expectations, primarily related to Decipher Prostate and Afirma tests, partially offset by lab efficiencies.

Cost of product revenue decreased $0.1 million, or 7%, for the three months ended June 30, 2025 and decreased $1.3 million, or 30%, for the six months ended June 30, 2025 compared to the same periods in 2024, driven primarily by lower volume of kit sales.

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Cost of biopharmaceutical and other revenue includes labor costs, laboratory supplies and pass-through expenses incurred. Cost of biopharmaceutical and other revenue for the three and six months ended June 30, 2025 decreased by $0.2 million and $0.4 million, respectively, compared to the same periods in 2024, driven by reductions of staffing and variable expenses related to projects. 

Research and development

Comparison of the three and six months ended June 30, 2025 and 2024 is as follows (in thousands of dollars, except percentages):

 Three Months Ended June 30,Six Months Ended June 30, 20252024Change%20252024Change%Research and development expense:        Compensation expense$9,063 $8,365 $698 8 %$18,812 $17,450 $1,362 8 %Direct research and development expense3,292 5,243 (1,951)(37)%7,434 9,117 (1,683)(18)%Depreciation and amortization437 248 189 76 %868 486 382 79 %Other expenses1,443 1,091 352 32 %2,824 2,371 453 19 %Allocations2,029 1,518 511 34 %4,046 3,006 1,040 35 %Total$16,264 $16,465 $(201)(1)%$33,984 $32,430 $1,554 5 %

Research and development expense decreased $0.2 million, or 1%, for