Slide 1: Q1 2022 Business & Financial Presentation
Q1 2022 Business & Financial Presentation May 3, 2022
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, including, but not limited to, our statements related to our expected total revenue and other financial and operating results for 2022 and our plans, objectives, expectations (financial and otherwise) or intentions with respect to our
Slide 3: Key Takeaways
Key Takeaways Strong Q1 2022 revenue of $67.8M driven by Decipher Prostate, as well as Biopharma and Other revenue Narrowed 2022 total revenue guidance range to $265M to $275M1,2 Updated ATS clinical guideline highlights Envisia classifier, reinforcing its intended role in IPF diagnosis Contin
Slide 4: Our vision is to improve outcomes for patients all over the world
Our vision is to improve outcomes for patients all over the world at every step of their journey. © Veracyte, Inc. All rights reserved. May 3, 2022 4
Slide 5: Our Strategy
Our Strategy Identify unmet clinical needs Reach global Develop high- patients with performance our menu of Creating a Global diagnostics Cancer Diagnostics IVDs Leader Deliver tests to US patients through our CLIA labs © Veracyte, Inc. All rights reserved. May 3, 2022 5
Slide 6: Q1 2022 Revenue and Volume
Q1 2022 Revenue and Volume Delivered Q1 2022 total revenue growth of 85% and volume growth of 61% year-over-year Total Revenue By Quarter1,2 Volume By Quarter 23,245 $67.3 $67.8 22,300 20,856 20,972 2,206 $60.4 $8.8 1,978 $11.2 1,874 2,130 $55.1 $6.5 $3.0 $1.6 $2.8 $2.7 $3.0 14,437 $36.7 2,134 $0.6
Slide 7: Q1 2022 Non-GAAP Gross Margin and Operating Expenses
Q1 2022 Non-GAAP Gross Margin and Operating Expenses Total company non-GAAP gross margin stabilizing post-acquisitions; Operating expense growth driven by acquisitions in 2021 Non-GAAP Gross Margin by Quarter1 Non-GAAP Operating Expense by Quarter1,2 $49.1 68% 66% $46.2 66% 64% 65% $42.4 $38.0 $18.0
Slide 8: Q1 2022 Cash Balance
Q1 2022 Cash Balance Ending Q1 2022 cash and cash equivalents balance of $164M Cash Balance1 $324.1 $327.5 • Q1 2022 cash used in operating activities was $8.9M primarily driven by annual bonus compensation payments $173.2 $164.0 $163.6 • Q3 2021 cash usage primarily driven by acquisition of HalioDx
Slide 9: 2022 Revenue Guidance
2022 Revenue Guidance Raising total revenue guidance to $265M - $275M reflecting 21% to 25% YoY growth Total Revenue1,2,3 $265M - $275M $220 • Narrowing total revenue guidance range to 21% to 25% $20 Year-over-Year reflect strong first quarter $11 Revenue Growth • 21% to 25% year-over-year revenue g
Slide 10: Appendix
Vv veracyte APPENDIX
Slide 11: Reconciliation of Non-GAAP Q1 2022 Financial Measures
Reconciliation of Non-GAAP Q1 2022 Financial Measures (Unaudited) (In thousands of dollars) Adjustments Acquisition Related Intangible Assets GAAP Expenses (1) Amortization Expense Other Total Non-GAAP Measure Three Months Ended March 31, 2022 Total revenue $ 67,783 $ — $ — $ — $ 67,783 Cost of test
Slide 12: Reconciliation of Non-GAAP Q1 2021 Financial Measures
Reconciliation of Non-GAAP Q1 2021 Financial Measures (Unaudited) (In thousands of dollars) Adjustments Acquisition Related Intangible Assets GAAP Expenses (1) Amortization Expense Other Total Non-GAAP Measure Three Months Ended March 31, 2021 Total revenue $ 36,703 $ — $ — $ — $ 36,703 Cost of test
Slide 13: Reconciliation of Non-GAAP Q2 2021 Financial Measures
Reconciliation of Non-GAAP Q2 2021 Financial Measures (Unaudited) (In thousands of dollars) Adjustments Acquisition Related Intangible Assets GAAP Expenses (1) Amortization Expense Other Total Non-GAAP Measure Three Months Ended June 30, 2021 Total revenue $ 55,105 $ — $ — $ — $ 55,105 Cost of testi
Slide 14: Reconciliation of Non-GAAP Q3 2021 Financial Measures
Reconciliation of Non-GAAP Q3 2021 Financial Measures (Unaudited) (In thousands of dollars) Adjustments Acquisition Related Intangible Assets GAAP Expenses (1) Amortization Expense Other Total Non-GAAP Measure Three Months Ended September 30, 2021 Total revenue $ 60,370 $ — $ — $ — $ 60,370 Cost of
Slide 15: Reconciliation of Non-GAAP Q4 2021 Financial Measures
Reconciliation of Non-GAAP Q4 2021 Financial Measures (Unaudited) (In thousands of dollars) Adjustments Acquisition Related Intangible Assets GAAP Expenses (1) Amortization Expense Other Total Non-GAAP Measure Three Months Ended December 31, 2021 Total revenue $ 67,336 $ — $ — $ — $ 67,336 Cost of t