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Mar 31, 2021
Veracyte Q1 2021 Earnings Report
Reported strong financial results with revenue increase and strategic acquisition, demonstrating resilience and growth momentum.
Key Takeaways
Veracyte announced its Q1 2021 financial results, reporting a total revenue of $36.7 million, an 18% increase compared to the previous year. The company's genomic testing volume grew by 11% to 14,437 tests. Veracyte also completed the acquisition of Decipher Biosciences, expanding its reach into urologic cancer testing.
Total revenue increased by 18% to $36.7 million, including $3.8 million from urologic cancer testing.
Genomic testing volume increased by 11% to 14,437 tests, including 1,560 tests from Decipher Biosciences.
Gross margin was reported at 66%.
Completed the acquisition of Decipher Biosciences, expanding reach into 7 of the top 10 cancers in the U.S.
Revenue by Segment
Forward Guidance
Veracyte is reiterating its previous 2021 annual total revenue guidance of approximately $190 million to $200 million, representing growth of approximately 65% over 2020 at the midpoint of the range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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