Business
Veracyte Announces Fourth Quarter and Full-Year 2022 Financial Results
Grew Fourth Quarter Revenue to $80.3 Million Grew 2022 Total Revenue to $296.5 Million Conference Call and Webcast Today at 4:30 p.m. ET SOUTH SAN FRANCISCO,
About this update from Veracyte, Inc.
[{"type":"text","content":"\nGrew Fourth Quarter Revenue to $80.3 Million\n\nGrew 2022 Total Revenue to $296.5 Million\n\nConference Call and Webcast Today at 4:30 p.m. ET\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nVeracyte, Inc. (Nasdaq: VCYT) today announced financial results for the fourth quarter and full year ended December 31, 2022.\n\n“We had an outstanding fourth quarter, driving record revenue and operating cash flows, achieving the best quarter ever for both our Decipher prostate and Afirma thyroid tests,” said Marc Stapley, Veracyte’s chief executive officer. “Moreover, throughout 2022, we invested in our long-term growth drivers to deliver on our promise of empowering clinicians with high-value insights to guide and assure patients at pivotal moments in the race to diagnose and treat cancer. Moving into 2023, we have a clear strategy, strong financial position, and significant momentum to advance our vision of transforming cancer care for patients all over the world.”\n\nKey Business Highlights:\n\n\nGrew total test volume to 28,001 in the fourth quarter and 102,524 for the full-year 2022, an increase of 26% and 30%, respectively, compared to the prior year.\n\n\nLaunched an updated Decipher Genomics Resource for Intelligent Discovery (GRID) patient report, providing physicians who order the Decipher Prostate Genomic Classifier with expanded precision-medicine insights, on a Research Use Only basis.\n\n\nSubmitted the Envisia Genomic Classifier to the Notified Body for CE marking in the European Union, ahead of schedule.\n\n\nPublished data in the International Journal of Radiation Oncology, Biology, Physics demonstrating that the Decipher Prostate Genomic Classifier can improve risk stratification among men with clinically high-risk prostate cancer.\n\n\nPublished a meta-analysis of 13 independent studies for the Afirma Genomic Sequencing Classifier in the Journal of Clinical Endocrinology & Metabolism, confirming the test’s strong real-world performance in informing thyroid nodule diagnosis.\n\n\nPublished data in Frontiers in Endocrinology suggesting that insights derived from Veracyte’s comprehensive thyroid nodule database of whole-transcriptome sequencing may help personalize care for patients with thyroid nodules.\n\n\nGenerated $9.7 million in cash from operating activities in the fourth quarter and $7.5 million for the full-y...