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Veracyte(VCYT) - 2021 Q3 - Quarterly Report
2021-11-09 21:37
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, 2021 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 ...
Veracyte(VCYT) - 2021 Q2 - Earnings Call Presentation
2021-07-30 17:59
(veracyte. Second Quarter 2021 Performance July 29, 2021 Forward-Looking Statements This presentation contains statements that are not historical and that are based on our beliefs and assumptions and on information currently available to us. These statements constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other fact ...
Veracyte(VCYT) - 2021 Q2 - Earnings Call Transcript
2021-07-30 02:33
Veracyte, Inc. (NASDAQ:VCYT) Q2 2021 Earnings Conference Call July 29, 2021 4:30 PM ET Company Participants Tracy Morris - Vice President of Corporate Communications and Investor Relations Marc Stapley - Chief Executive Officer Rebecca Chambers - Chief Financial Officer Bonnie Anderson - Executive Chairwoman Conference Call Participants Brian Weinstein - William Blair Puneet Souda - SVB Leerink Sung Ji Nam - BTIG Dave Delahunt - Goldman Sachs Thomas Flaten - Lake Street Capital Tejas Savant - Morgan Stanley ...
Veracyte(VCYT) - 2021 Q2 - Quarterly Report
2021-07-29 20:19
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, 2021 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 ...
Veracyte(VCYT) - 2021 Q1 - Earnings Call Transcript
2021-05-11 02:10
Veracyte, Inc. (NASDAQ:VCYT) Q1 2021 Earnings Conference Call May 10, 2021 4:30 PM ET Company Participants Tracy Morris - Vice President, Corporate Communications and Investor Relations Bonnie Anderson - Chairman and Chief Executive Officer Jane Alley - Acting Chief Financial Officer Marc Stapley - Incoming Chief Executive Officer Giulia Kennedy - Chief Scientific and Medical Officer Tina Nova - General Manager, Thyroid & Urology Conference Call Participants Puneet Souda - SVB Leerink Brian Weinstein - Will ...
Veracyte(VCYT) - 2021 Q1 - Quarterly Report
2021-05-10 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Table of Contents FORM 10-Q (Exact name of registrant as specified in its charter) Delaware 20-5455398 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1 ...
Veracyte (VCYT) Investor Presentation - Slideshow
2021-04-08 22:37
ANSWERSCorporate Presentation veracyte. April 5, 2021 Forward-Looking Statements This presentation contains statements that are not historical and that are based on our beliefs and assumptions and on information currently available to us. These statements constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors ...
Veracyte (VCYT) Presents At SVB Leerink 10th Annual Global Healthcare Conference - Slideshow
2021-02-26 23:39
ANSWERS veracyte. 2021 SVB Leerink Global Healthcare Conference February 24, 2021 Forward-Looking Statements This presentation contains statements that are not historical and that are based on our beliefs and assumptions and on information currently available to us. These statements constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks, uncertainties, as ...
Veracyte(VCYT) - 2020 Q4 - Annual Report
2021-02-22 21:18
Financial Performance - The company's revenue from diagnostic services for the year ended December 31, 2020, was approximately $102.0 million[486]. - Total revenue for 2020 was $117.483 million, a decrease of 2.4% from $120.368 million in 2019[491]. - Testing revenue was $101.970 million, down from $107.355 million in 2019, representing a decline of 4.0%[491]. - Net loss for 2020 was $34.909 million, compared to a net loss of $12.599 million in 2019, indicating an increase in losses of 177.5%[491]. - The Company generated additional revenue of $1.5 million in 2020 due to changes in testing revenue estimates, reducing the loss from operations by the same amount and decreasing loss per share by $0.02[547]. - Revenue from Afirma accounted for a significant portion of the Company's income, with Medicare contributing 24% and UnitedHealthcare 11% of total revenue in 2020[531]. - The Company recognized no revenue from instrument sales for the years ended December 31, 2020, 2019, or 2018[552]. - The Company recognized revenue of $1.5 million and $7.0 million for biopharmaceutical revenue for the years ended December 31, 2020 and 2019, respectively[562]. - The Company recognized biopharmaceutical revenue of $1.0 million for the sale of commercial and development rights in 2020[563]. Assets and Equity - Total assets increased to $457.163 million in 2020, up from $275.212 million in 2019, reflecting a growth of 66.0%[489]. - Total stockholders' equity rose to $421.232 million in 2020, compared to $239.455 million in 2019, marking an increase of 76.0%[489]. - Cash and cash equivalents as of December 31, 2020, were $349.364 million, significantly higher than $159.317 million in 2019, an increase of 119.9%[489]. - The Company’s total cash, cash equivalents, and restricted cash at the end of 2020 was $349.9 million, a substantial increase from $159.9 million in 2019[499]. - The Company had deposits of $603,000 in restricted cash as of December 31, 2020, held as collateral for a standby letter of credit[533]. - The Company’s long-lived assets were entirely located in the United States as of December 31, 2020 and 2019[578]. Operating Expenses - Operating expenses for 2020 totaled $152.872 million, an increase of 12.8% from $135.495 million in 2019[491]. - Research and development expenses increased to $17.204 million in 2020, up from $14.851 million in 2019, representing a growth of 15.9%[491]. - The Company’s stock-based compensation increased to $13.0 million in 2020 from $9.8 million in 2019, reflecting higher employee compensation costs[497]. - The Company reported a $1.1 million write-down of supplies due to the expiration of reagents, attributed to a decline in volumes from the COVID-19 pandemic[566]. Cash Flow and Financing - Net cash used in operating activities was $9.7 million in 2020, compared to $3.2 million in 2019, indicating increased cash outflows from operations[497]. - The Company raised approximately $193.8 million in an equity offering in August 2020, and $593.8 million in February 2021, enhancing its financial resources for future growth[519][520]. - The Company’s net cash provided by financing activities was $203.6 million in 2020, compared to $127.3 million in 2019, highlighting strong financing efforts[497]. - The Company entered into a loan agreement allowing borrowing up to $35 million, with a term loan advance of $25 million and a revolving line of credit of $10 million[609]. - The average interest rate for the Term Loan Advance was 5.4% for the year ended December 31, 2020[610]. - Interest expense for the year ended December 31, 2020 was $229,000, down from $677,000 in 2019[616]. Compliance and Legal Risks - The company is subject to increased legal, accounting, and compliance costs due to public company regulations, which could adversely affect operating results[337]. - The company expects to incur significant costs related to compliance with the Sarbanes-Oxley Act and other regulations, impacting management resources[337]. - The company must maintain effective internal control over financial reporting, and any material weaknesses could lead to a decline in investor confidence and stock price[338]. - The company may face challenges in maintaining effective internal controls as it grows, requiring additional management and staff resources[339]. Stock and Compensation - The Company had total common stock equivalents of 5,499,345 for the year ended December 31, 2020, down from 6,133,190 in 2019[584]. - The Company had 4,867,303 stock options and restricted stock units outstanding as of December 31, 2020[619]. - The total intrinsic value of stock options as of December 31, 2020 was $135,879,000[631]. - The intrinsic value of stock options exercised was $32.9 million in 2020, compared to $31.3 million in 2019 and $4.9 million in 2018, indicating a significant increase in option exercises[633]. - The total stock-based compensation expense for the year ended December 31, 2020, was $12.995 million, up from $9.807 million in 2019 and $5.958 million in 2018, reflecting a growth of approximately 32% year-over-year[640]. - As of December 31, 2020, the company had $25.7 million of unrecognized compensation expense related to unvested stock options and restricted stock units, expected to be recognized over an estimated weighted-average period of 2.40 years[640]. Tax and Regulatory Matters - The company recorded no provision for income taxes during the years ended December 31, 2020, 2019, or 2018, reflecting ongoing losses[649]. - As of December 31, 2020, the company had net operating loss carryforwards of approximately $282.9 million available to reduce future taxable income[654]. - The Company had $68.1 million in net operating loss carryforwards for federal tax purposes as of December 31, 2020, which will begin to expire in 2026[654]. - As of December 31, 2020, the Company had unrecognized tax benefits of $3.6 million, which would not currently affect the effective tax rate due to fully offsetting deferred tax assets[658]. - The unrecognized tax benefits increased from $3.278 million in 2019 to $3.563 million in 2020, reflecting a gross increase of $285,000 in the current period[659]. - The major tax jurisdictions for the Company are the United States and California, with all tax years remaining open for examination for three to four years[660].
Veracyte(VCYT) - 2020 Q4 - Earnings Call Transcript
2021-02-18 04:41
Veracyte, Inc. (NASDAQ:VCYT) Q4 2020 Earnings Conference Call February 17, 2021 4:30 PM ET Company Participants Tracy Morris - Vice President, Corporate Communications and Investor Relations Bonnie Anderson - Chairman and Chief Executive Officer Keith Kennedy - Chief Operating Officer and Chief Financial Officer Conference Call Participants Puneet Souda - SVB Leerink Brian Weinstein - William Blair Sung Ji Nam - BTIG Thomas Flaten - Lake Street Capital Mike Matson - Needham & Company Sandy Draper - Truist S ...