Business
Veracyte Announces First Quarter 2025 Financial Results
Strong testing volume growth resulted in total revenue of $114.5 million, an increase of 18% Conference call and webcast today at 4:30 p.m. ET SOUTH SAN
About this update from Veracyte, Inc.
[{"type":"text","content":"\nStrong testing volume growth resulted in total revenue of $114.5 million, an increase of 18%\n\nConference call and webcast today at 4:30 p.m. ET\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nVeracyte, Inc. (Nasdaq: VCYT), a leading cancer diagnostics company, today announced financial results for the first quarter ended March 31, 2025.\n\n\"We started 2025 with the eleventh consecutive quarter of 20% or more testing volume growth, driven by strong Decipher and Afirma demand,” said Marc Stapley, Veracyte’s chief executive officer. “With solid Q1 results and Decipher now available for metastatic prostate cancer patients, we are well positioned to deliver on our expectations for this year and beyond, especially given our recent successes in advancing our strategic growth drivers. As always, everything we do is in service of patients globally and I look forward to delivering on our vision of transforming cancer care.”\n\nKey Financial Highlights\n\nFor the three-month period ended March 31, 2025, as compared to the same period in 2024:\n\n\nIncreased total revenue by 18% to $114.5 million and testing revenue by 19% to $107.3 million.\n\n\nIncreased total volume by 22% to 40,655 tests and testing volume by 23% to 38,078 tests.\n\n\nGrew Decipher revenue by 33% to $66.6 million and Afirma revenue by 6% to $38.3 million.\n\n\nGrew Decipher volume by 37% to approximately 22,600 tests and Afirma volume by 10% to approximately 15,500 tests.\n\n\nIncreased net income to $7.0 million, or 6.2% of revenue, and delivered adjusted EBITDA of $24.7 million, or 21.6% of revenue.\n\n\nGenerated $5.4 million of cash from operations to end the quarter with $287.4 million of cash, cash equivalents, and short-term investments.\n\n\nKey Business Highlights\n\n\nLaunched limited access to Decipher for use in the metastatic population, expanding coverage across the entire risk spectrum of prostate cancer care.\n\n\nDemonstrated accuracy of whole-genome sequencing-based minimal residual disease (MRD) testing platform for muscle-invasive bladder cancer at EAU25 with new data presented from the multicenter, interventional TOMBOLA clinical trial.\n\n\nEnrolled the first patient into the UMBRELLA trial for patients with pancreatic cancer, sarcoma, colorectal cancer, or NSCLC, utilizing Veracyte’s differentiated data-driven whole genome MRD approach.\n...