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Dec 31, 2020
Veracyte Q4 2020 Earnings Report
Veracyte's revenue increased by 16% to $34.5 million and genomic testing volume grew by 14% to 13,130 tests.
Key Takeaways
Veracyte announced a 16% increase in revenue to $34.5 million for the fourth quarter of 2020, with a 14% growth in genomic testing volume. The company is set to acquire Decipher Biosciences to expand its reach in cancer genomic diagnostics. Multiple new product launches are planned for 2021, including a noninvasive nasal swab test and Percepta Genomic Atlas in lung cancer.
Total revenue increased by 16% to $34.5 million.
Gross margin was 68%, an increase of 2 percentage points.
Genomic testing and product volume increased by 14% to 13,130 tests.
Net loss per common share was $0.14, compared to $0.15.
Veracyte
Veracyte
Veracyte Revenue by Segment
Revenue by Segment
Testing Revenue
CapyFin.comProduct Revenue
CapyFin.comBiopharmaceutical and Other Revenue
CapyFin.com Forward Guidance
Veracyte expects total combined revenue in 2021 to be approximately $190 million to $200 million, representing growth of approximately 65% over 2020 at the midpoint of the range, pending the completion of the acquisition of Decipher Biosciences, which is assumed to occur by April 1, 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income