Veracyte(US:VCYT)2025-11-04 21:08Revenue and Growth - Total revenue for Q3 2025 reached $131.9 million, a 14% increase from $115.9 million in Q3 2024[6] - Testing revenue was $127.8 million, up 17% from $109.5 million in the same quarter last year[6] - Decipher revenue grew by 26% to $82.2 million, while Afirma revenue increased by 7% to $43.2 million[5] - Total volume of tests increased by 18% to 45,888, with testing volume rising by 19% to 43,679 tests[5] - The company raised its full-year 2025 total revenue guidance to $506 million to $510 million, reflecting a 14% year-over-year growth[10] - Full-year 2025 testing revenue guidance was increased to $484 million to $487 million, indicating a 16% year-over-year growth[10] - Total revenue for the nine months ended September 30, 2025, was $376.5 million, up 15.1% from $327.1 million in the same period of 2024[23] Profitability and Earnings - Adjusted EBITDA for Q3 2025 was $39.7 million, representing 30% of revenue, a 45% improvement year-over-year[9] - GAAP net income was $19.1 million, or 15% of revenue, marking a 26% increase compared to Q3 2024[8] - Net income for Q3 2025 was $19.1 million, an increase of 26.5% from $15.2 million in Q3 2024[25] - Basic earnings per share for Q3 2025 was $0.24, compared to $0.20 in Q3 2024, reflecting a 20% increase[23] - Non-GAAP net income for the nine months ended September 30, 2025, was $100,390,000, compared to $64,019,000 in 2024[38] Expenses and Costs - Total operating expenses for Q3 2025 were $68,336,000, slightly up from $66,993,000 in Q3 2024[35] - GAAP cost of testing revenue for Q3 2025 was $33,777,000, an increase from $29,029,000 in Q3 2024[32] - Total stock-based compensation expense for the nine months ended September 30, 2025, was $32.7 million, up from $26.6 million in the same period of 2024[24] - Non-GAAP total operating expenses for the nine months ended September 30, 2025, were $179,452,000, compared to $169,647,000 in 2024[35] Cash and Assets - Cash and cash equivalents at the end of Q3 2025 were $315.6 million, an increase from $239.1 million at the end of 2024[31] - The company reported a net cash provided by operating activities of $83.7 million for the nine months ended September 30, 2025, compared to $50.6 million in the same period of 2024[29] - Total assets as of September 30, 2025, were $1.37 billion, up from $1.30 billion at the end of 2024[27] Clinical and Product Developments - Launched the Afirma v2 transcriptome to enhance testing efficiency and support future product launches[5] - Completed enrollment for the NIGHTINGALE clinical utility trial for the Percepta Nasal Swab test[5] Adjustments and Impairments - The company experienced a foreign currency translation adjustment loss of $4.6 million in Q3 2025, impacting other comprehensive income[25] - The company incurred additional expenses related to Veracyte SAS impairment loss of $20.5 million for the nine months ended September 30, 2025[36] - For the three months ended September 30, 2025, transaction-related expenses associated with the acquisition of C2i Genomics amounted to $0.1 million[1] - For the nine months ended September 30, 2025, total transaction-related expenses related to C2i Genomics were $1.6 million, partially offset by $1.0 million from NanoString contingent consideration[1] - Adjustments for the three months ended September 30, 2025 included a $6.7 million unrealized loss related to Veracyte SAS deconsolidation[3]