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Jun 30, 2021
Veracyte Q2 2021 Earnings Report
Veracyte experienced significant momentum with strong growth in thyroid and urologic cancer product lines, and total revenue increased by 166%.
Key Takeaways
Veracyte announced strong second-quarter results with a 166% increase in total revenue to $55.1 million and a 215% increase in genomic volume to 20,856 tests. The company also raised its 2021 total revenue guidance and advanced its clinical evidence, pipeline, and global growth strategy.
Total revenue increased 166% to $55.1 million.
Genomic volume grew 215% to 20,856 tests.
Gross margin increased 500 basis points to 68%.
Net loss improved 18% to $9.0 million.
Veracyte
Veracyte
Veracyte Revenue by Segment
Revenue by Segment
Testing Revenue
CapyFin.comProduct Revenue
CapyFin.comBiopharmaceutical and Other Revenue
CapyFin.com Forward Guidance
Veracyte is increasing its 2021 annual total revenue guidance to a range of $200 million to $208 million.
Positive Outlook
- Increased 2021 annual total revenue guidance to a range of $200 million to $208 million.
- This range represents 69% to 76% total revenue growth for fiscal 2021 compared to fiscal 2020.
- Increased from Veracyte’s prior estimate of 61% to 69% total revenue growth.
- Achieved key managed care milestones for genomic tests.
- Announced the planned acquisition of HalioDx
Revenue & Expenses
Visualization of income flow from segment revenue to net income