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Mar 31, 2025
Veracyte Q1 2025 Earnings Report
Veracyte reported strong financial results for the first quarter ended March 31, 2025.
Key Takeaways
Veracyte reported strong first quarter 2025 results driven by 22% total testing volume growth, leading to an 18% increase in total revenue to $114.5 million. Net income significantly improved to $7.0 million, and adjusted EBITDA grew 72% to $24.7 million.
Total revenue increased 18% to $114.5 million in the first quarter of 2025.
Total testing volume grew 22% to 40,655 tests, driven by strong Decipher and Afirma demand.
GAAP net income improved significantly to $7.0 million compared to a net loss in the prior year period.
Adjusted EBITDA increased 72% to $24.7 million, representing 21.6% of revenue.
Revenue by Segment
Forward Guidance
Veracyte reiterated its full-year 2025 testing revenue guidance of $470 million to $480 million, representing 12% to 15% year-over-year growth (14% to 16% adjusted). The company raised its guidance for adjusted EBITDA as a percentage of revenue to 22.5% from 21.6%.
Positive Outlook
- Raised full-year 2025 adjusted EBITDA as a percentage of revenue guidance to 22.5%.
- Reiterated full-year 2025 testing revenue guidance of $470 million to $480 million.
- Strong Q1 results position the company to deliver on full-year expectations.
- Launched limited access to Decipher for use in the metastatic prostate cancer population.
- Continuing to advance strategic growth drivers including MRD testing and trial enrollment.
Challenges Ahead
- Unable to provide quantitative reconciliation of expected adjusted EBITDA to GAAP measure.
- Evaluating ownership and operations of the French subsidiary in Marseille.
- French subsidiary has filed a collective proceedings petition with the Marseille Commercial Court.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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