$VCYT
Veracyte Inc

2018 Q3 Form 10-Q Financial Statement

#000138410118000060 Filed on July 23, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $23.47M $22.75M $18.41M
YoY Change 33.95% 23.61% 25.42%
Cost Of Revenue $8.261M $8.246M $6.960M
YoY Change 15.23% 18.48% 10.46%
Gross Profit $15.21M $14.51M $11.45M
YoY Change 46.91% 26.73% 36.68%
Gross Profit Margin 64.8% 63.76% 62.19%
Selling, General & Admin $15.82M $15.56M $14.19M
YoY Change 18.04% 9.65% -1.03%
% of Gross Profit 104.06% 107.24% 123.94%
Research & Development $3.419M $4.601M $3.603M
YoY Change 12.25% 27.7% -15.56%
% of Gross Profit 22.49% 31.72% 31.48%
Depreciation & Amortization $980.0K $990.0K $950.0K
YoY Change -1.01% 4.21% 1.06%
% of Gross Profit 6.45% 6.83% 8.3%
Operating Expenses $19.24M $20.16M $17.79M
YoY Change 16.97% 13.31% -4.37%
Operating Profit -$4.304M -$5.917M -$6.609M
YoY Change -32.41% -10.47% -37.02%
Interest Expense $498.0K $481.0K $808.0K
YoY Change -38.9% -40.47% 2.93%
% of Operating Profit
Other Income/Expense, Net $333.0K $150.0K $119.0K
YoY Change 148.51% 26.05% 230.56%
Pretax Income -$4.470M -$6.250M -$7.300M
YoY Change -36.6% -14.38% -35.05%
Income Tax
% Of Pretax Income
Net Earnings -$4.470M -$6.250M -$7.300M
YoY Change -36.6% -14.38% -35.05%
Net Earnings / Revenue -19.05% -27.47% -39.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$115.7K -$182.2K -$215.5K
COMMON SHARES
Basic Shares Outstanding 34.53M shares 34.35M shares 33.87M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.80M $23.80M $46.50M
YoY Change 88.83% -48.82% 19.23%
Cash & Equivalents $77.85M $23.76M $46.46M
Short-Term Investments
Other Short-Term Assets $1.800M $1.800M $2.000M
YoY Change 12.5% -10.0% 33.33%
Inventory $3.463M $3.049M $3.317M
Prepaid Expenses
Receivables $12.26M $13.01M $11.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $95.37M $41.64M $62.86M
YoY Change 63.85% -33.77% 32.62%
LONG-TERM ASSETS
Property, Plant & Equipment $8.939M $9.035M $10.09M
YoY Change -13.05% -10.48% -7.72%
Goodwill $1.057M $1.057M $1.057M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $837.0K $598.0K $134.0K
YoY Change 370.22% 346.27% -22.09%
Total Long-Term Assets $23.70M $23.83M $25.49M
YoY Change -6.87% -6.52% -7.1%
TOTAL ASSETS
Total Short-Term Assets $95.37M $41.64M $62.86M
Total Long-Term Assets $23.70M $23.83M $25.49M
Total Assets $119.1M $65.46M $88.35M
YoY Change 42.34% -25.9% 18.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.175M $1.962M $2.349M
YoY Change -62.83% -16.48% -13.16%
Accrued Expenses $9.261M $8.429M $8.450M
YoY Change 14.93% -0.25% -5.16%
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 $10.44M $10.39M $10.80M
YoY Change -6.98% -3.78% -8.81%
LONG-TERM LIABILITIES
Long-Term Debt $25.19M $25.10M $24.97M
YoY Change 0.78% 0.53% 1.22%
Other Long-Term Liabilities $4.000M $4.000M $4.300M
YoY Change -4.76% -6.98% -6.52%
Total Long-Term Liabilities $25.19M $25.10M $24.97M
YoY Change 0.78% 0.53% 1.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.44M $10.39M $10.80M
Total Long-Term Liabilities $25.19M $25.10M $24.97M
Total Liabilities $39.66M $39.66M $40.50M
YoY Change -2.9% -2.09% -1.4%
SHAREHOLDERS EQUITY
Retained Earnings -$231.0M -$226.5M -$195.6M
YoY Change 13.98% 15.8% 15.03%
Common Stock $310.4M $252.3M $243.4M
YoY Change 26.45% 3.65% 19.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.42M $25.81M $47.84M
YoY Change
Total Liabilities & Shareholders Equity $119.1M $65.46M $88.35M
YoY Change 42.34% -25.9% 18.06%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$4.470M -$6.250M -$7.300M
YoY Change -36.6% -14.38% -35.05%
Depreciation, Depletion And Amortization $980.0K $990.0K $950.0K
YoY Change -1.01% 4.21% 1.06%
Cash From Operating Activities -$1.790M -$3.100M -$4.910M
YoY Change -64.9% -36.86% -36.32%
INVESTING ACTIVITIES
Capital Expenditures -$660.0K -$530.0K -$110.0K
YoY Change -9.59% 381.82% -84.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$660.0K -$530.0K -$110.0K
YoY Change -9.59% 381.82% -81.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $55.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.53M 240.0K -20.00K
YoY Change 12747.73% -1300.0% -85.71%
NET CHANGE
Cash From Operating Activities -1.790M -3.100M -4.910M
Cash From Investing Activities -660.0K -530.0K -110.0K
Cash From Financing Activities 56.53M 240.0K -20.00K
Net Change In Cash 54.08M -3.390M -5.040M
YoY Change -1103.34% -32.74% -40.43%
FREE CASH FLOW
Cash From Operating Activities -$1.790M -$3.100M -$4.910M
Capital Expenditures -$660.0K -$530.0K -$110.0K
Free Cash Flow -$1.130M -$2.570M -$4.800M
YoY Change -74.14% -46.46% -31.23%

Facts In Submission

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us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
144000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7633000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4601000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8276000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-211087000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-226512000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
250000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
18406000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
34838000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
22751000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
42792000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7994000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15330000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9623000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21166000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3214000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2906000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6061081 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6761730 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
37225000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
25806000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2500000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33873128 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33848645 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34314234 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34320793 shares
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
0 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
63000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
-772000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
67000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
0 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
149000 USD
CY2018Q2 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1
vcyt Numberof Products
NumberofProducts
3 product
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
2100000 USD
CY2018Q2 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
0 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
0 USD
vcyt Tax Benefitfrom Legal Settlement
TaxBenefitfromLegalSettlement
0 USD
vcyt Tax Benefitfrom Legal Settlement
TaxBenefitfromLegalSettlement
93000 USD
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

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0001384101-18-000060.txt Edgar Link pending
0001384101-18-000060-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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vcyt-20180630.xml Edgar Link completed
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vcyt-20180630_cal.xml Edgar Link unprocessable
vcyt-20180630_def.xml Edgar Link unprocessable
vcyt-20180630_lab.xml Edgar Link unprocessable
vcyt-20180630_pre.xml Edgar Link unprocessable