Veracyte Q2 2023 Earnings Report
Key Takeaways
Veracyte announced outstanding second-quarter results, marked by a 24% increase in total revenue to $90.3 million and a 28% increase in total test volume to 31,809 compared to the second quarter of 2022. The company generated a record $17 million in cash from operations and raised its full-year 2023 total revenue guidance to $342 million to $350 million.
Total revenue increased by 24% to $90.3 million compared to Q2 2022.
Total test volume grew by 28% to 31,809 compared to Q2 2022.
Generated approximately $17 million of cash from operating activities.
Full-year 2023 total revenue guidance raised to $342 million to $350 million.
Veracyte
Veracyte
Veracyte Revenue by Segment
Forward Guidance
The company is raising full-year 2023 total revenue guidance to $342 million to $350 million, representing year-over-year growth of 15% to 18%, and an improvement compared to prior guidance of $330 million to $340 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income