Company: VCYT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001384101-25-000110
Chunk: 74

Company: VERACYTE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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ortization of the finite-lived intangible assets is recognized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized. 

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Table of Contents

Amortization expense of $3.3 million and $3.8 million was recognized for the three months ended June 30, 2025 and 2024, respectively, and an expense of $6.5 million and $7.4 million was recognized for the six months ended June 30, 2025 and 2024, respectively.The estimated future aggregate amortization expense as of June 30, 2025 is as follows (in thousands of dollars):Year Ending December 31,Amounts2025 remainder of year$6,657 202612,672 202712,515 202812,515 202912,515 Thereafter32,732 Total$89,606  Supplies and InventorySupplies consisted of lab supplies and reagents to be used in the performance of testing services. Inventory related to finished and semi-finished goods used in the assembly of diagnostic kits related to product sales as well as raw materials consumed in the contract manufacturing process. As of June 30, 2025 and December 31, 2024, supplies and inventory consisted of the following (in thousands of dollars): June 30, 2025December 31, 2024Supplies$20,065 $17,876 Inventory4,955 3,874 Total supplies and inventory$25,020 $21,750 Impairment of AssetsOn July 16, 2025, the Marseille Commercial Court published a decision approving the divestiture of certain portions of the Company's French subsidiary, Veracyte SAS, to Helio Diagnostics SAS, effective August 1, 2025. The remaining assets will be managed by the judicial administrator until such time that the Marseille Commercial Court appoints a judicial liquidator to solely initiate and manage liquidation proceedings. Effective August 1, 2025, the Company no longer has the power to control the financial and operating policies of Veracyte SAS. The Company assessed the associated assets as of June 30, 2025 for impairment and determined that the value of the remaining assets of Veracyte SAS, including accounts receivable; supplies and inventory; right-of-use assets; property, plant, and equipment; and other rece