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Dec 31, 2023
Veracyte Q4 2023 Earnings Report
Veracyte reported strong Q4 2023 results with revenue growth driven by Afirma and Decipher businesses.
Key Takeaways
Veracyte announced a 22% increase in fourth-quarter revenue, reaching $98.2 million. The company's testing revenue grew by 29%, driven by the strong performance of Decipher Prostate and Afirma tests. Veracyte is focused on leveraging its Veracyte Diagnostics Platform to drive revenue growth and expects to achieve positive cash flow for the third consecutive year.
Total test volume increased to 33,836 in Q4 2023.
Endocrinology offering enhanced with TERT promoter mutation testing for Afirma and Afirma GRID research tool.
Decipher Prostate evidence base strengthened with additional publications and abstracts.
C2i Genomics Inc. acquired, adding whole-genome minimal residual disease (MRD) capabilities.
Revenue by Segment
Forward Guidance
The company is maintaining full-year 2024 total revenue guidance of $394 million to $402 million and consistent with prior guidance, expects cash, cash equivalents and short-term investments at the end of the year to be $230 million to $234 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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