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Veracyte (VCYT)
NASDAQ:VCYT
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Earnings Data
Report Date
Mar 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.11Last Year’s EPS
-0.39Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2018
|% Change Since: 10.90%
|Next Earnings Date:Jul 23, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a strong positive sentiment driven by record revenue growth, robust performance in the Decipher and Afirma segments, and an improved financial outlook. Despite some challenges in the product segment and the decision to pause the Envisia CLIA test, the positive aspects significantly outweighed the negatives.Company Guidance
During Veracyte's Q3 2024 earnings call, key metrics highlighted included a 29% year-over-year increase in revenue, reaching $115.9 million, and a remarkable 34% growth in testing revenue, which totaled $109.5 million. The company processed approximately 39,000 tests, marking a 20% increase from the same period in 2023. The testing average selling price (ASP) was approximately $2,975, factoring in $3.5 million in prior-period collections, which, when adjusted, would position ASP at roughly $2,875, a 7% increase year-over-year. Decipher and Afirma tests exhibited robust growth, with Decipher's volume rising by 36% year-over-year, achieving a record 21,250 tests, and Afirma's volume growing by 12% to around 15,100 tests. Non-GAAP gross margin was reported at 71%, with testing gross margin slightly higher at 74%. Operating expenses increased by 11% to $57.6 million, attributed primarily to R&D investments and personnel costs. The company also raised its 2024 revenue guidance to $442 million to $445 million, reflecting strong testing business performance, and projected ending the year with $280 million to $285 million in cash and cash equivalents.Record-Breaking Revenue Growth
Q3 2024 revenue totaled $115.9 million, growing 29% year-over-year, fueled by a 34% increase in testing revenue. This marks the ninth consecutive quarter of 25% or greater testing revenue growth.
Strong Performance of Decipher
Decipher delivered a record 21,250 tests in Q3, up 36% year-over-year. The updated NCCN guidelines and a productive sales force have driven this growth.
Increased Adjusted EBITDA and Cash Position
Adjusted EBITDA reached $27.3 million, or 24% of revenue. The company generated $38 million in cash, ending Q3 with $274.1 million in cash and equivalents.
Guidance Raised for 2024
Total revenue guidance for 2024 was raised to $442 million to $445 million, reflecting improved testing business outlook with revenue growth expectations of approximately 28%.
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VCYT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VCYT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $36.59 | $37.34 | +2.05% |
| Aug 06, 2024 | $21.82 | $27.05 | +23.97% |
| May 07, 2024 | $21.03 | $20.12 | -4.33% |
| Feb 22, 2024 | $24.34 | $22.18 | -8.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Veracyte (VCYT) report earnings?
Veracyte (VCYT) is schdueled to report earning on Mar 03, 2025, TBA Not Confirmed.
What is Veracyte (VCYT) earnings time?
Veracyte (VCYT) earnings time is at Mar 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VCYT EPS forecast?
VCYT EPS forecast for the fiscal quarter 2024 (Q4) is 0.11.
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