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Dec 31, 2022
Veracyte Q4 2022 Earnings Report
Reported a 19% increase in revenue compared to Q4 2021, driven by strong performance of Decipher and Afirma tests.
Key Takeaways
Veracyte announced strong Q4 2022 financial results, with revenue reaching $80.3 million, a 19% increase compared to the previous year. The company's Decipher and Afirma tests drove testing revenue growth. Veracyte is initiating 2023 annual total revenue guidance of $325 million to $335 million.
Grew total test volume to 28,001, a 26% increase compared to the prior year.
Launched an updated Decipher Genomics Resource for Intelligent Discovery (GRID) patient report.
Submitted the Envisia Genomic Classifier to the Notified Body for CE marking in the European Union, ahead of schedule.
Generated $9.7 million in cash from operating activities.
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 initiating 2023 annual total revenue guidance of $325 million to $335 million, assuming currency rates as of February 22, 2023.
Positive Outlook
- Mid-teens year-over-year growth of testing and product revenue.
Challenges Ahead
- A decline in Biopharmaceutical and other revenue for fiscal 2023 compared to fiscal 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income