Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation May 5, 2026 © 2026 Veracyte, Inc. All rights reserved. 1
Slide 2: Forward-looking statements and non-GAAP information
Forward-looking statements and non-GAAP information This presentation contains forward-looking statements, including, but not limited to our statements related to our plans, objectives, and expectations (financial and otherwise), including with respect to our 2025 and 2026 financial and operating re
Slide 3: Our vision is to transform cancer care for patients all over the world
Our vision is to transform cancer care for patients all over the world © 2026 Veracyte, Inc. All rights reserved. 3
Slide 4: Five years of execution resulting in profitable growth
Five years of execution resulting in profitable growth Total Revenue (M) Adjusted EBITDA Margin 27% five-year testing revenue CAGR Met and exceeded 25% target ahead of schedule $517 $446 27.6% $361 20.6% $297 $220 $493 12.6% $419 $327 8.3% $251 $188 4.1% 2021 2022 2023 2024 2025 2021 2022 2023 2024
Slide 5: Approaching an inflection point following years of disciplined execution
Approaching an inflection Met and exceeded adjusted EBITDA margin point following years of target ahead of schedule disciplined execution 2021 2026 Delivered >20% Decipher volume growth every quarter Integrate Decipher acquisition Recognized by NCCN as the only gene expression test with high-quality
Slide 6: Growing Decipher
Decipher® >20% YoY volume growth every quarter since acquisition Growing Decipher 24% Quarterly Volume 27,250 28,000 28,000 26,700 25,500 Continued expansion in 21,250 22,400 22,550 ordering providers and 19,900 orders per physician 16,500 Strong traction across the full spectrum of prostate cancer
Slide 7: Driving adoption across the full spectrum of prostate cancer risk
Driving adoption across the full spectrum of prostate cancer risk High-Risk / Advanced Disease Low-Risk / Active Surveillance Nearly 30% growth across high-risk categories, >80,000 patients tested to date in the including RP1, BCR2, and metastatic disease in Q1 2026 low-risk setting Results from ENZ
Slide 8: Enhancing our clinical offerings as our evidence base expands
Enhancing our clinical offerings as our evidence base expands Expand clinical signatures Build digital pathology Generate evidence to support available on the Decipher report database Decipher Bladder For example, PORTOS, PTEN and Digitizing all historical patient 11 abstracts were presented at the
Slide 9: Growing Afirma
Afirma® Improved no results rate sequentially and YoY, Growing Afirma benefiting scalability, cost profile, and patient 12% impact Quarterly Volume 18,250 16,950 17,000 17,200 17,200 16,300 15,700 15,450 15,100 Incorporated additional 14,000 molecular signatures to Afirma GRID Healthy new account wi
Slide 10: Prosigna: Prognostic testing for breast cancer
Prosigna Prognostic testing for breast cancer Provides additional data around the risk of recurrence and biological classification of the cancer to help inform treatment decisions ~225,000 patients Positive outcomes data LDT launch anticipated diagnosed annually from 10-year OPTIMA PRELIM in mid-202
Slide 11: Differentiated approach: Whole genome every step of the way
TrueMRD AACR Spotlight Theater demonstrated growing external validation Differentiated approach: Whole genome every step of the way Multiple studies already completed in MIBC, CRC, Lung Commercial launch First indication targeted on track for Q2 2026 is muscle-invasive bladder cancer (MIBC) Robust s
Slide 12: Strong topline growth driven by testing revenue
Strong topline growth driven by testing revenue Total Revenue (M) 1 Testing Revenue (M)1 Testing Volume (K) Q1 Q1 Q1 $139 $135 45.2 38.1 $114 $107 21% 26% 19% YOY growth YOY growth YOY growth Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Testing ASP: $2,9862 ASP increased 3% versus the prior year
Slide 13: Delivered strong net income and adjusted EBITDA
Delivered strong net income and adjusted EBITDA Cash and short-term GAAP Net Income (M) Adjusted EBITDA Margin investments (M)1 Q1 Q1 End of Quarter $28.7 30.8% $439.1 $287.4 21.6% $7.0 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 1. Ending balance of cash, cash equivalents and short-term investm
Slide 14: Raising financial outlook for 2026
Raising financial outlook for 2026 Revenue (M)1 Testing Revenue (M)1 Adjusted EBITDA Margin1,3 $582-$592 $570-$580 $517 $493 13-14% 16-18% YOY growth YOY growth >26% adjusted 2025 2026 2025 2026 EBITDA Excludes the contribution of new tests Raised from prior expectations Raised from prior expectatio
Slide 15: Fueling growth with a steady cadence of expected catalysts
Fueling growth with a steady cadence of expected catalysts 2026 2027+ Afirma Expand Afirma GRID clinical signatures Decipher Expand Decipher clinical signatures TrueMRD Additional TrueMRD indications TrueMRD Launch TrueMRD in MIBC Decipher Launch Decipher qPCR IVD Prosigna Launch Prosigna LDT1 Prosi
Slide 16: © 2026 Veracyte, Inc. All rights reserved.
© 2026 Veracyte, Inc. All rights reserved. 16
Slide 17: Reconciliation of Non-GAAP Gross Profit and Gross Margin
Reconciliation of Non-GAAP Gross Profit and Gross Margin (Unaudited) (In thousands of dollars) Three Months Ended Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 GAAP cost of testing revenue $ 31,645 $ 28,260 $ 32,407 $ 33,777 $ 33,118 $ 33,306 Stock-based compensation
Slide 18: Reconciliation of Non-GAAP Operating Expenses
Reconciliation of Non-GAAP Operating Expenses (Unaudited) (In thousands of dollars) Three Months Ended Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 GAAP research and development $ 19,290 $ 17,720 $ 16,264 $ 15,981 $ 20,849 $ 27,098 Stock-based compensation expense (1
Slide 19: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA (Unaudited) (In thousands of dollars) Three Months Ended Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 GAAP Net Income (Loss) $ 5,113 $ 7,047 $ (980) $ 19,137 $ 41,149 $ 28,707 GAAP Net Income (Loss) as a % of Revenue 4.3 % 6.2 % (0.8
Slide 20: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA (Unaudited) (In thousands of dollars) Twelve Months Ended Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Dec 31, 2025 GAAP Net Income (Loss) $ (75,563) $ (36,560) $ (74,404) $ 24,138 $ 66,353 GAAP Net Income (Loss) as a % of Revenue (34.4 %) (12.3 %) (20.6 %) 5
Slide 21: Reconciliation of Non-GAAP Net Income, EPS and WASO
Reconciliation of Non-GAAP Net Income, EPS and WASO (Unaudited) (In thousands of dollars) Three Months Ended Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 GAAP Net Income (Loss) $ 5,113 $ 7,047 $ (980) $ 19,137 $ 41,149 $ 28,707 Amortization of intangible assets 3,609
Slide 22: © 2026 Veracyte, Inc. All rights reserved.
© 2026 Veracyte, Inc. All rights reserved. 22