Core Insights - Veracyte (VCYT) is experiencing significant growth in its Afirma business line and the Decipher franchise, although macroeconomic challenges pose risks to its operations [1][11]. Financial Performance - The company has a market capitalization of $3.41 billion and an earnings yield of 3.8%, outperforming the industry's -2.6% yield [2]. - Veracyte has consistently exceeded earnings estimates over the past four quarters, with an average surprise of 45.1% [2]. Business Highlights - The Afirma solution, including the Afirma GSC and Afirma Xpression Atlas, is effectively addressing thyroid nodule diagnosis, with a 13% volume growth in Q3 2025 driven by new account wins and increased utilization [3][4][9]. - The Decipher franchise has expanded into bladder cancer, with the Decipher Bladder test being the first genomic test covered by Medicare, contributing to a total of approximately 26,700 tests performed in Q3 2025, marking 14 consecutive quarters of over 25% year-over-year volume growth [5][6][9]. - Veracyte ended Q3 2025 with cash and cash equivalents of $366 million and no debt, indicating a strong liquidity position [7][10]. Cost and Economic Challenges - The company faces macroeconomic challenges, including rising interest rates and inflation, which have led to an 11.6% year-over-year increase in total cost of revenues, with selling and marketing expenses rising by 8.1% to $24.5 million [11].