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Mar 31, 2020
Veracyte Q1 2020 Earnings Report
Reported solid results for the first quarter of 2020, with strong revenue and volume growth across the genomic testing business.
Key Takeaways
Veracyte announced financial results for Q1 2020, featuring a 20% increase in total testing and product revenue to $30.4 million and a 15% growth in genomic testing volume. The company also secured strategic collaborations and advanced its pipeline.
Total testing and product revenue increased by 20% to $30.4 million.
Total revenue, including biopharmaceutical revenue, increased by 5% to $31.1 million.
Genomic test volume grew by 15% to 10,559 tests.
Net loss was $(11.7) million, or $(0.24) per share.
Veracyte
Veracyte
Veracyte Revenue by Segment
Revenue by Segment
Testing Revenue
CapyFin.comProduct Revenue
CapyFin.comBiopharmaceutical and Other Revenue
CapyFin.com Forward Guidance
Veracyte anticipates impact to their business from the pandemic through 2020, but believe they are well-positioned to emerge strong over the long term due to the fundamental strength and diversification of their business, as well as their strong cash position.
Revenue & Expenses
Visualization of income flow from segment revenue to net income