Loading...
•
Jun 30, 2024
Veracyte Q2 2024 Earnings Report
Veracyte's second quarter results demonstrated strong revenue growth and profitability.
Key Takeaways
Veracyte announced strong second quarter results with a 27% increase in total revenue to $114.4 million and a 31% increase in testing revenue. The company also reported net income of $5.7 million and adjusted EBITDA of $24.0 million, representing 21% of revenue. They raised full-year 2024 total revenue guidance to $432 million to $438 million.
Total revenue grew by 27% to $114.4 million.
Testing revenue grew by 31%.
Net income increased to $5.7 million, with adjusted EBITDA at $24.0 million, or 21% of revenue.
Total test volume increased by 23% to 39,023.
Revenue by Segment
Forward Guidance
The company is raising full-year 2024 total revenue guidance to $432 million to $438 million, representing year-over-year growth of 20% to 21% and testing revenue growth of approximately 25%. In addition, the company now expects cash, cash equivalents and short-term investments at the end of the year to be $260 million to $270 million.
Positive Outlook
- Full-year 2024 total revenue guidance raised to $432M - $438M
- Represents 20-21% year-over-year growth
- Testing revenue growth of approximately 25%
- Cash, cash equivalents, and short-term investments expected to be $260M - $270M at year-end
- Prior total revenue guidance was $402M - $410M
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
Loading earnings performance data...
Loading earnings reaction data...