2017 Q3 Form 10-Q Financial Statement

#000138410117000050 Filed on July 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $17.52M $18.41M $14.68M
YoY Change -5.83% 25.42% 23.24%
Cost Of Revenue $7.169M $6.960M $6.301M
YoY Change 12.6% 10.46% 22.61%
Gross Profit $10.35M $11.45M $8.374M
YoY Change -15.41% 36.68% 23.71%
Gross Profit Margin 59.08% 62.19% 57.06%
Selling, General & Admin $13.41M $14.19M $14.33M
YoY Change 4.32% -1.03% 14.92%
% of Gross Profit 129.52% 123.94% 171.17%
Research & Development $3.046M $3.603M $4.267M
YoY Change -23.96% -15.56% 37.51%
% of Gross Profit 29.43% 31.48% 50.96%
Depreciation & Amortization $990.0K $950.0K $940.0K
YoY Change 10.0% 1.06% 44.62%
% of Gross Profit 9.57% 8.3% 11.23%
Operating Expenses $16.45M $17.79M $18.60M
YoY Change -2.4% -4.37% 19.42%
Operating Profit -$6.368M -$6.609M -$10.49M
YoY Change 30.33% -37.02% 15.65%
Interest Expense $815.0K $808.0K $785.0K
YoY Change 2.0% 2.93% 772.22%
% of Operating Profit
Other Income/Expense, Net $134.0K $119.0K $36.00K
YoY Change 179.17% 230.56% 28.57%
Pretax Income -$7.050M -$7.300M -$11.24M
YoY Change 25.0% -35.05% 22.98%
Income Tax
% Of Pretax Income
Net Earnings -$7.050M -$7.300M -$11.24M
YoY Change 25.0% -35.05% 22.98%
Net Earnings / Revenue -40.24% -39.66% -76.59%
Basic Earnings Per Share
Diluted Earnings Per Share -$207.7K -$215.5K -$403.4K
COMMON SHARES
Basic Shares Outstanding 33.89M shares 33.87M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.20M $46.50M $39.00M
YoY Change 29.97% 19.23% -23.53%
Cash & Equivalents $41.20M $46.46M $38.99M
Short-Term Investments
Other Short-Term Assets $1.600M $2.000M $1.500M
YoY Change 6.67% 33.33% -28.57%
Inventory $3.760M $3.317M $3.502M
Prepaid Expenses
Receivables $11.64M $11.03M $3.387M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $58.21M $62.86M $47.40M
YoY Change 35.52% 32.62% -21.92%
LONG-TERM ASSETS
Property, Plant & Equipment $10.28M $10.09M $10.94M
YoY Change -1.48% -7.72% 160.4%
Goodwill $1.057M $1.057M $1.057M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $178.0K $134.0K $172.0K
YoY Change -12.32% -22.09% -78.5%
Total Long-Term Assets $25.45M $25.49M $27.44M
YoY Change -4.67% -7.1% 25.85%
TOTAL ASSETS
Total Short-Term Assets $58.21M $62.86M $47.40M
Total Long-Term Assets $25.45M $25.49M $27.44M
Total Assets $83.66M $88.35M $74.83M
YoY Change 20.11% 18.06% -9.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.161M $2.349M $2.705M
YoY Change 2.6% -13.16% 0.19%
Accrued Expenses $8.058M $8.450M $8.910M
YoY Change 12.09% -5.16% 23.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.22M $10.80M $11.84M
YoY Change 9.24% -8.81% 0.36%
LONG-TERM LIABILITIES
Long-Term Debt $25.00M $24.97M $24.67M
YoY Change 0.43% 1.22% 393.42%
Other Long-Term Liabilities $4.200M $4.300M $4.600M
YoY Change -6.67% -6.52% 1050.0%
Total Long-Term Liabilities $25.00M $24.97M $24.67M
YoY Change 0.43% 1.22% 356.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.22M $10.80M $11.84M
Total Long-Term Liabilities $25.00M $24.97M $24.67M
Total Liabilities $40.84M $40.50M $41.08M
YoY Change 3.02% -1.4% 136.09%
SHAREHOLDERS EQUITY
Retained Earnings -$202.6M -$195.6M -$170.0M
YoY Change 15.35% 15.03%
Common Stock $245.5M $243.4M $203.8M
YoY Change 19.34% 19.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.82M $47.84M $33.75M
YoY Change
Total Liabilities & Shareholders Equity $83.66M $88.35M $74.83M
YoY Change 20.11% 18.06% -9.29%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$7.050M -$7.300M -$11.24M
YoY Change 25.0% -35.05% 22.98%
Depreciation, Depletion And Amortization $990.0K $950.0K $940.0K
YoY Change 10.0% 1.06% 44.62%
Cash From Operating Activities -$5.100M -$4.910M -$7.710M
YoY Change -31.45% -36.32% -32.72%
INVESTING ACTIVITIES
Capital Expenditures -$730.0K -$110.0K -$730.0K
YoY Change 329.41% -84.93% 114.71%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $120.0K
YoY Change -100.0% -120.0%
Cash From Investing Activities -$730.0K -$110.0K -$610.0K
YoY Change 329.41% -81.97% -35.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 440.0K -20.00K -140.0K
YoY Change 37.5% -85.71% -100.37%
NET CHANGE
Cash From Operating Activities -5.100M -4.910M -7.710M
Cash From Investing Activities -730.0K -110.0K -610.0K
Cash From Financing Activities 440.0K -20.00K -140.0K
Net Change In Cash -5.390M -5.040M -8.460M
YoY Change -26.06% -40.43% -133.5%
FREE CASH FLOW
Cash From Operating Activities -$5.100M -$4.910M -$7.710M
Capital Expenditures -$730.0K -$110.0K -$730.0K
Free Cash Flow -$4.370M -$4.800M -$6.980M
YoY Change -39.89% -31.23% -37.23%

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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
440000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
646000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
463000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11480000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10093000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
68000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
721000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
135000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4267000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7728000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3603000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7633000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
120000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
120000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-180084000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-195599000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
14675000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
28225000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
18406000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
34838000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8263000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15329000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7994000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15330000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3173000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3214000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5251832 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6394917 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
59581000 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33848645 shares
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
47844000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27859918 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27838955 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33873128 shares
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
42000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
0 USD
CY2016Q2 vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
0 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
156000 USD
CY2017Q2 vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
0 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
0 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
712000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
-772000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
206000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
0 USD
CY2017Q2 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
288000 USD
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
0 USD
CY2016Q2 vcyt Prepayment Penalty
PrepaymentPenalty
0 USD
vcyt Prepayment Penalty
PrepaymentPenalty
50000 USD
CY2017Q2 vcyt Prepayment Penalty
PrepaymentPenalty
0 USD
vcyt Prepayment Penalty
PrepaymentPenalty
0 USD
CY2016Q2 vcyt Revenue Percent
RevenuePercent
1
vcyt Revenue Percent
RevenuePercent
1
CY2017Q2 vcyt Revenue Percent
RevenuePercent
1
vcyt Revenue Percent
RevenuePercent
1
CY2016Q2 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
5326000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
10650000 USD
CY2017Q2 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
795000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
2089000 USD
CY2016Q2 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.64
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.62
CY2017Q2 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.96
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.94
CY2016Q2 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
9349000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
17575000 USD
CY2017Q2 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
17611000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
32749000 USD
CY2016Q2 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.36
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.38
CY2017Q2 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.04
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.06
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates include: revenue recognition; contractual allowances; the useful lives of property and equipment; the recoverability of long-lived assets; the estimation of the fair value of intangible assets; stock options; income tax uncertainties, including a valuation allowance for deferred tax assets; and contingencies. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions.</font></div></div>

Files In Submission

Name View Source Status
vcyt-20170630_lab.xml Edgar Link unprocessable
0001384101-17-000050-index-headers.html Edgar Link pending
0001384101-17-000050-index.html Edgar Link pending
0001384101-17-000050.txt Edgar Link pending
0001384101-17-000050-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
vcyt-06302017xex101.htm Edgar Link pending
vcyt-06302017xex311.htm Edgar Link pending
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vcyt-06302017xex321.htm Edgar Link pending
vcyt-06302017xex322.htm Edgar Link pending
vcyt-06302017xq210q.htm Edgar Link pending
vcyt-20170630.xml Edgar Link completed
vcyt-20170630.xsd Edgar Link pending
vcyt-20170630_cal.xml Edgar Link unprocessable
vcyt-20170630_def.xml Edgar Link unprocessable
vcyt-20170630_pre.xml Edgar Link unprocessable