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Sep 30, 2023
Veracyte Q3 2023 Earnings Report
Veracyte's Q3 2023 earnings were announced, demonstrating strong revenue growth driven by demand for Decipher Prostate and Afirma tests.
Key Takeaways
Veracyte announced a 19% increase in total revenue to $90.1 million for Q3 2023, driven by a 27% increase in testing revenue. The company raised its full-year 2023 total revenue guidance to $352 million to $354 million.
Total revenue increased by 19% to $90.1 million compared to Q3 2022.
Testing revenue grew by 27% compared to Q3 2022, reaching $82.0 million.
Total test volume increased by 23% to 32,544 compared to Q3 2022.
The company ended the quarter with $202.5 million in cash and cash equivalents.
Revenue by Segment
Forward Guidance
The company is raising full-year 2023 total revenue guidance to $352 million to $354 million, representing year-over-year growth of approximately 19%, and an improvement compared to prior guidance of $342 million to $350 million.
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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