Veracyte (VCYT) financial statements
Veracyte reported revenue of $517M in fiscal 2025, up 25.9% a year over 9 years.
Net income was $66M and the operating margin 11.2%, against -44.3% in 2016.
Free cash flow was $127M.
The diluted share count rose 179% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Veracyte's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65M | $72M | $92M | $120M | $117M | $220M | $297M | $361M | $446M | $517M |
| Cost of revenue | $25M | $28M | $33M | $36M | — | — | $121M | $131M | $148M | $155M |
| Gross profit | $40M | $44M | $59M | $84M | — | — | $176M | $230M | $298M | $363M |
| Research and development | $15M | $14M | $15M | $15M | $17M | $30M | $41M | $57M | $69M | $71M |
| Selling, general and admin | $52M | $55M | $65M | $83M | $89M | $181M | $171M | $188M | $206M | $211M |
| Operating income | -$29M | -$27M | -$22M | -$15M | -$35M | -$82M | -$41M | -$86M | $16M | $58M |
| Interest expense | $3M | $5M | $2M | $677,000 | $229,000 | — | — | — | — | — |
| Pre-tax income | -$31M | -$31M | -$23M | -$13M | -$35M | -$82M | -$36M | -$77M | $26M | $68M |
| Income tax | $0 | $0 | $0 | $0 | $0 | -$6M | $133,000 | -$2M | $2M | $2M |
| Net income | -$31M | -$31M | -$23M | -$13M | -$35M | -$76M | -$37M | -$74M | $24M | $66M |
| EPS (diluted) | -$1.09 | -$0.91 | -$0.62 | -$0.27 | -$0.66 | -$1.11 | -$0.51 | -$1.02 | $0.31 | $0.82 |
| Diluted shares | 29M | 34M | 37M | 46M | 53M | 68M | 72M | 73M | 78M | 81M |
| Gross margin | 60.9% | 60.8% | 64.0% | 70.0% | — | — | 59.2% | 63.6% | 66.9% | 70.1% |
| Operating margin | -44.3% | -36.9% | -24.2% | -12.6% | -30.1% | -37.3% | -13.9% | -23.8% | 3.6% | 11.2% |
| Net margin | -48.2% | -43.1% | -25.0% | -10.5% | -29.7% | -34.4% | -12.3% | -20.6% | 5.4% | 12.8% |
Balance sheet
Fiscal years, from Veracyte's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $59M | $34M | $78M | $159M | $349M | $173M | $179M | $216M | $289M | $413M |
| Receivables | $9M | $13M | $13M | $19M | $18M | $41M | $44M | $40M | $47M | $45M |
| Inventory | $3M | $5M | $3M | $7M | $5M | $11M | $14M | $16M | $22M | $21M |
| Total current assets | $74M | $54M | $97M | $188M | $376M | $243M | $249M | $286M | $372M | $488M |
| Property, plant and equipment | $11M | $10M | $9M | $9M | $9M | $15M | $18M | $21M | $23M | $22M |
| Goodwill | $1M | $1M | $1M | $3M | $3M | $708M | $696M | $703M | $746M | $767M |
| Total assets | $101M | $79M | $121M | $275M | $457M | $1.2B | $1.2B | $1.1B | $1.3B | $1.4B |
| Total current liabilities | $12M | $12M | $13M | $17M | $17M | $64M | $63M | $61M | $79M | $60M |
| Long-term debt | $25M | $25M | $24M | $694,000 | $810,000 | $0 | — | — | — | — |
| Total liabilities | $41M | $41M | $41M | $36M | $36M | $91M | $81M | $71M | $124M | $96M |
| Shareholders' equity | $60M | $37M | $80M | $239M | $421M | $1.1B | $1.1B | $1.0B | $1.2B | $1.3B |
| Net debt | -$34M | -$9M | -$53M | -$159M | -$349M | -$172M | -$154M | -$216M | -$239M | -$363M |
Cash flow
Fiscal years, from Veracyte's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$28M | -$24M | -$14M | -$3M | -$10M | -$32M | $8M | $44M | $75M | $136M |
| Capital spending | $4M | $2M | $2M | $3M | $3M | $5M | $9M | $10M | $11M | $10M |
| Free cash flow | -$32M | -$26M | -$15M | -$6M | -$13M | -$37M | -$1M | $34M | $64M | $127M |
| Stock-based compensation | $6M | $7M | $6M | $10M | $13M | $23M | $27M | $33M | $36M | $44M |
| Net borrowing | $19M | -$505,000 | $0 | -$25M | -$100,000 | $0 | -$1M | $0 | $0 | — |
| Free cash flow margin | -49.5% | -35.7% | -16.7% | -5.0% | -10.7% | -16.9% | -0.3% | 9.5% | 14.3% | 24.5% |
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Open VCYT in InvestinglyQuestions
What was Veracyte's revenue in 2025?
$517M in fiscal 2025, from its 10-K filing.
How much free cash flow does Veracyte generate?
$127M in fiscal 2025 (operating cash flow minus capital spending).
From Veracyte's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.