Company: VCYT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001384101-25-000014
Chunk: 144

Company: VERACYTE, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 144
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 %4,927 Total$69,294 $11,989 21 %$57,305 

Research and development expense increased $12.0 million, or 21%, for the year ended December 31, 2024 compared to 2023. The increase was primarily driven by compensation expense due to increased headcount and acquired expenses related to the C2i Acquisition, direct research and development expense related to our on-going development costs for our IVD and MRD strategies, as well as projects to enhance the efficiency of our laboratories. In addition to these development costs, the increase is partially driven by clinical studies including, but not limited to, furthering the support and clinical utility evidence of our Percepta Nasal Swab test, as well as our urology products. These investments were partially offset by the reduction in tech access fees recognized in 2023 under other expenses.  

Comparison of research and development expense for the years ended December 31, 2023 and 2022 are included in Item 8 of Part II of the Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 29, 2024.

75

Selling and marketing

Comparison of the years ended December 31, 2024 and 2023 was as follows (in thousands of dollars, except percentages):

 Year Ended December 31,2024Change%2023Selling and marketing expense:Compensation expense$67,662 $(7,224)(10)%$74,886 Direct marketing expense6,283 861 16 %5,422 Other expenses13,488 (1,096)(8)%14,584 Allocations8,001 1,403 21 %6,598 Total$95,434 $(6,056)(6)%$101,490 

Selling and marketing expense decreased $6.1 million, or 6%, for the year ended December 31, 2024 compared to 2023. The decrease in compensation and other expense was primarily due to the decision to reduce the sales support for our Envisia test and a reversal of the stock-based compensation related to employee exits. Direct marketing expense increased primarily due to increased trade show events.

Comparison of selling and marketing expense for the years ended December 31, 2023 and 2022 are included in Item 8 of Part II of the Annual