10-K · February 26, 2026
Veracyte (VCYT) shows material operational improvement in 2025 driven by stronger test volume and margin expansion; quarterly trends show accelerating profitability and cash generation. The company is executing a clear…
Earnings analysis · 10-Q
VCYT earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Veracyte (VCYT) reported strong Q1 2026 results, surpassing consensus estimates with revenue of $139.1 million and EPS of $0.52, compared to estimates of $130.4 million in revenue and $0.31 in EPS. Testing revenue grew…
Read full summary
Veracyte (VCYT) reported strong Q1 2026 results, surpassing consensus estimates with revenue of $139.1 million and EPS of $0.52, compared to estimates of $130.4 million in revenue and $0.31 in EPS. Testing revenue grew by 26% year-over-year, reflecting solid product demand, although general and administrative expenses decreased significantly due to reallocations following restructuring efforts.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.52
What stood out
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Revenue Growth of 21% YoY
Total revenue increased by $24.6 million to $139.1 million, up 21% from Q1 2025.
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Significant EPS Beat
EPS rose to $0.52, beating the consensus estimate of $0.31 by 0.21.
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Testing Revenue Surge of 26%
Testing revenue reached $135.1 million, up 26% year-over-year, largely due to a 19% increase in test volume.
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Operating Income Jumps
Income from operations increased dramatically to $22.6 million, up 680% compared to $2.9 million in Q1 2025.
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Free Cash Flow Improvement
Free Cash Flow increased to $35.2 million in Q1 2026 from $5.4 million a year ago.
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Cash Reserves Increased
Cash and cash equivalents totaled $439.1 million, up $26.2 million from the previous quarter.
What to watch
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Restructuring Challenges
Continued integration risks remain following the restructuring of Veracyte SAS, impacting international operations.
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Dependency on Testing Volume
Future revenue is heavily dependent on the sustained volume of tests performed, which is subject to external factors.
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Regulatory Environment Risks
Potential changes in government regulations or reimbursement policies could negatively affect pricing and revenue.
Management's outlook
Raised 2026 revenue guidance to $582-$592 million from $570-$582 million.
Earlier filings 4
10-Q · May 8, 2025
Veracyte reported Q1 revenue of $114.473M (up from $96.844M a year ago) with gross profit of $79.508M and operating income of $2.904M, producing net income of $7.047M and diluted EPS of $0.09. Operating cash flow turned…
10-Q · November 7, 2024
Veracyte reported a stronger Q3 with total revenue of $115,860,000 and a return to operating profitability (income from operations $12,017,000) versus an operating loss in the year-ago quarter. Gross profit rose to…
10-Q · August 7, 2024
Veracyte reported better-than-expected Q2 results with revenue of $114.428M (up from $90.322M a year ago) driven by testing revenue growth. Gross profit was $77.913M (≈68.1% gross margin) and the company returned to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.