"We had a strong start to 2024, driven by robust growth from our market-leading Decipher Prostate and Afirma tests. We executed upon our strategies to further penetrate these markets by expanding our clinical evidence, and, for Decipher, securing enhanced status in guidelines while also achieving a key commercial reimbursement milestone," said Marc Stapley, Veracyte's chief executive officer. "We also expanded our capabilities into minimal residual disease (MRD) testing by completing our acquisition of C2i ...

Financial Position - As of December 31, 2023, the company had cash and cash equivalents of $216.5 million, consisting of bank deposits and money market funds[507]. - The company held $4.1 million of bank deposits denominated in Euros as of December 31, 2023, which are subject to foreign currency risk[508]. - The company reported cash and cash equivalents of $216.5 million as of December 31, 2023, compared to $154.2 million in 2022, indicating improved liquidity[524]. - Cash, cash equivalents, and restricted cash increased to $217.3 million at the end of 2023, up from $155.0 million in 2022, representing a 39.7% increase[537]. - The total assets decreased to $1.115 billion in 2023 from $1.156 billion in 2022, reflecting a reduction in intangible assets[524]. - The company’s total stockholders' equity decreased to $1.044 billion in 2023 from $1.075 billion in 2022, reflecting the impact of net losses[524]. - The company’s accumulated deficit increased to $468.1 million in 2023 from $393.7 million in 2022, indicating ongoing financial challenges[524]. - The fair value of money market funds decreased significantly from $131.2 million in 2022 to $1.4 million in 2023[617]. - The Company had no short-term investments as of December 31, 2023, compared to $24.6 million in U.S. treasury bills in 2022[621]. Revenue and Losses - Total revenue for 2023 was $361.1 million, up 21.7% from $296.5 million in 2022[526]. - The company’s testing revenue for the year ended December 31, 2023, was approximately $326.5 million, an increase of 30.3% from $250.5 million in 2022[526]. - The net loss for 2023 was $74.4 million, compared to a net loss of $36.6 million in 2022, reflecting a significant increase in losses[526]. - Operating expenses for 2023 totaled $446.8 million, a rise of 32.4% from $337.6 million in 2022[526]. - Revenue from biopharmaceutical and other revenue for the year ended December 31, 2023 was $18.9 million, a decrease from $33.4 million in 2022[580]. - The company recorded a comprehensive loss, which includes net loss and foreign currency translation adjustments, reflecting the overall financial performance[594]. Expenses and Costs - Research and development expenses increased to $57.3 million in 2023, up 41.2% from $40.6 million in 2022[526]. - The company reported stock-based compensation expenses of $33.1 million in 2023, up from $26.7 million in 2022[535]. - The Company recorded impairment charges of $66.9 million and $3.3 million for the years ended December 31, 2023 and 2022, respectively[565]. - The company incurred an impairment loss of $68.3 million in 2023, compared to $3.3 million in 2022[535]. - The Company’s cost of testing revenue includes laboratory expenses, sample collection expenses, and compensation expenses, among others[581]. Legal and Compliance Risks - The company expects to incur significant legal, accounting, and compliance costs as a public company, which could harm its operating results[384]. - The company is required to maintain internal control over financial reporting and report any material weaknesses, which could negatively impact investor confidence[385]. - The company may face reputational damage if it fails to meet environmental, social, and governance (ESG) expectations set by investors and regulators[387]. Stock and Equity - The company has a total of 6,570,076 common stock equivalents excluded from diluted net loss per common share for 2023 due to their anti-dilutive effect[600]. - As of December 31, 2023, the total outstanding and unvested stock options increased to 6,318,389, with a weighted average exercise price of $22.95[638]. - The intrinsic value of stock options exercised in 2023 was $9.0 million, compared to $6.3 million in 2022[640]. - The total stock-based compensation expense for 2023 was $33.141 million, up from $26.734 million in 2022, reflecting increases across all expense categories[651]. Future Projections and Plans - The company plans to continue focusing on expanding its testing services and improving reimbursement rates based on historical data and anticipated trends[526]. - The estimated future aggregate amortization expense for finite-lived intangible assets is projected to be $81.3 million as of December 31, 2023[613]. Tax and Deferred Tax Assets - The Company established a valuation allowance against its net deferred tax assets, which increased by $14.5 million in 2023, $4.8 million in 2022, and $41.9 million in 2021[659]. - The Company had gross deferred tax assets of $162,835 thousand and net deferred tax assets of $22,915 thousand as of December 31, 2023[657]. - The Company had unrecognized tax benefits of $5.7 million as of December 31, 2023, with no anticipated significant changes in the next 12 months[665]. Acquisitions - The company completed the acquisition of C2i Genomics, Inc. in February 2024, enhancing its capabilities in minimal residual disease detection[544]. - The Company completed the acquisition of C2i for a purchase price of $70.0 million on February 5, 2024, with potential milestone payments of up to $25.0 million based on future performance[676]. - The HalioDx acquisition in 2021 was valued at $319.6 million, enhancing the company's capabilities in immuno-oncology[601]. - The Decipher Biosciences acquisition in 2021 was approximately $594.7 million, aimed at advancing diagnostic tests for urologic cancers[602].

Veracyte, Inc. (NASDAQ:VCYT) Q4 2023 Earnings Conference Call February 22, 2024 4:30 PM ET Company Participants Shayla Gorman - Senior Director of Investor Relations Marc Stapley - Chief Executive Officer Rebecca Chambers - Chief Financial Officer Conference Call Participants Sung Ji Nam - Scotiabank Dustin Scaringe - William Blair Matt Sykes - Goldman Sachs Puneet Souda - Leerink Partners Operator Good day, and thank you for standing by. Welcome to the Veracyte Fourth Quarter and Full Year 2023 Financial R ...

| --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q4 2023 Business and Financial Presentation | | | | | | | | February 22, 2024 | | | | | | | 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 re ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36156 VERACYTE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

Veracyte, Inc. (NASDAQ:VCYT) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Tristan Ribar – Vice President-Finance Marc Stapley – Chief Executive Officer Rebecca Chambers – Chief Financial Officer Conference Call Participants Puneet Souda – Leerink Sung Ji Nam – Scotiabank Mason Carrico – Stephens Inc Operator Good day, and thank you for standing by. Welcome to the Veracyte Third Quarter 2023 Financial Results Webcast. At this time all participants are in a listen-only mod ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36156 VERACYTE, INC. (Exact name of registrant as specified in its charter) Delaware 20-5455398 (State or other ...

Financial Data and Key Metrics Changes - The company reported revenue of over $90 million for Q2 2023, representing a growth of 24% compared to the prior year [5][19] - Cash generated from operations reached approximately $17 million, a record for the company [6] - The company ended the quarter with $191 million in cash, cash equivalents, and short-term investments, exceeding expectations [24][27] Business Line Data and Key Metrics Changes - The core testing business grew by 37%, with approximately 15,000 Decipher Prostate tests performed in the quarter [5][7] - Afirma tests reached over 13,000 performed, leading to an increase in revenue growth expectations to the low to mid-teens for 2023 [11] - Biopharmaceutical and other revenue totaled $4.6 million, down 55% year-over-year due to project reductions and extended sales cycles [21] Market Data and Key Metrics Changes - The market for molecular diagnostics in prostate cancer is now estimated to be approximately 30% penetrated, with Decipher representing the majority of that penetration [8] - The company added over 70 new accounts for Afirma tests, contributing to its growth [11] Company Strategy and Development Direction - The company is focused on enhancing clinical evidence for its tests and expanding its library of published studies [9] - The IVD strategy aims to deliver tests outside the United States, with ongoing development of products like Prosigna and Envisia [15][16] - The company is adjusting its estimates for the NIGHTINGALE study enrollment to the second quarter of 2024 due to staffing challenges at investigator sites [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of the Decipher business, citing strong execution and market opportunities [30] - The biopharma business faces macroeconomic challenges, leading to project terminations and longer timelines for new contracts [13][41] - The company raised its revenue guidance for 2023 to $342 million to $350 million, reflecting strong first-half results [25] Other Important Information - Tina Nova will step down from her operational role, transitioning to a consulting capacity, effective September 3 [29] - The company is focused on maintaining a strong financial profile while investing in long-term growth drivers [66] Q&A Session Summary Question: Dynamics driving Afirma growth - Management highlighted enhancements in product offerings and improved ordering capabilities as key drivers of Afirma's growth [33][37] Question: Biopharma business outlook - Management acknowledged ongoing macro headwinds affecting the biopharma business, emphasizing a cautious approach to investments [39][41] Question: Competitive dynamics for Decipher - Management indicated that Decipher is capturing market share, supported by strong evidence generation and sales team performance [74] Question: Enrollment timeline for NIGHTINGALE study - Management provided an updated estimate for the final patient enrollment in the NIGHTINGALE study to the second quarter of 2024, with preliminary data expected thereafter [80][84]

veracyte. 8/8/2023 1 Q2 2023 Business and Financial Presentation August 8, 2023 © Veracyte, Inc. All rights reserved. Forward-looking statements and non-GAAP information This presentation contains forward-looking statements, including, but not limited to, our statements related to our expected total revenue for 2023 and other financial and operating results and our plans, objectives, expectations (financial and otherwise) or intentions with respect to our tests and products, including our biopharma atlas, f ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36156 VERACYTE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 20-5455398 6000 ...