$VCYT
Veracyte Inc

2018 Q4 Form 10-Q Financial Statement

#000138410118000078 Filed on October 29, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $25.75M $23.47M $17.52M
YoY Change 31.4% 33.95% -5.83%
Cost Of Revenue $8.700M $8.261M $7.169M
YoY Change 11.97% 15.23% 12.6%
Gross Profit $17.05M $15.21M $10.35M
YoY Change 44.13% 46.91% -15.41%
Gross Profit Margin 66.21% 64.8% 59.08%
Selling, General & Admin $16.31M $15.82M $13.41M
YoY Change 13.26% 18.04% 4.32%
% of Gross Profit 95.66% 104.06% 129.52%
Research & Development $3.060M $3.419M $3.046M
YoY Change -4.38% 12.25% -23.96%
% of Gross Profit 17.95% 22.49% 29.43%
Depreciation & Amortization $970.0K $980.0K $990.0K
YoY Change -3.0% -1.01% 10.0%
% of Gross Profit 5.69% 6.45% 9.57%
Operating Expenses $20.11M $19.24M $16.45M
YoY Change 12.53% 16.97% -2.4%
Operating Profit -$3.060M -$4.304M -$6.368M
YoY Change -49.34% -32.41% 30.33%
Interest Expense -$540.0K $498.0K $815.0K
YoY Change -78.57% -38.9% 2.0%
% of Operating Profit
Other Income/Expense, Net $490.0K $333.0K $134.0K
YoY Change 308.33% 148.51% 179.17%
Pretax Income -$3.110M -$4.470M -$7.050M
YoY Change -63.15% -36.6% 25.0%
Income Tax
% Of Pretax Income
Net Earnings -$3.110M -$4.470M -$7.050M
YoY Change -63.15% -36.6% 25.0%
Net Earnings / Revenue -12.08% -19.05% -40.24%
Basic Earnings Per Share
Diluted Earnings Per Share -$76.28K -$115.7K -$207.7K
COMMON SHARES
Basic Shares Outstanding 40.54M shares 34.53M shares 33.89M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.00M $77.80M $41.20M
YoY Change 130.09% 88.83% 29.97%
Cash & Equivalents $78.00M $77.85M $41.20M
Short-Term Investments
Other Short-Term Assets $2.400M $1.800M $1.600M
YoY Change 20.0% 12.5% 6.67%
Inventory $3.402M $3.463M $3.760M
Prepaid Expenses
Receivables $13.17M $12.26M $11.64M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $96.95M $95.37M $58.21M
YoY Change 79.78% 63.85% 35.52%
LONG-TERM ASSETS
Property, Plant & Equipment $8.940M $8.939M $10.28M
YoY Change -7.72% -13.05% -1.48%
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 $1.086M $837.0K $178.0K
YoY Change 233.13% 370.22% -12.32%
Total Long-Term Assets $23.69M $23.70M $25.45M
YoY Change -4.26% -6.87% -4.67%
TOTAL ASSETS
Total Short-Term Assets $96.95M $95.37M $58.21M
Total Long-Term Assets $23.69M $23.70M $25.45M
Total Assets $120.6M $119.1M $83.66M
YoY Change 53.35% 42.34% 20.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.516M $1.175M $3.161M
YoY Change -34.7% -62.83% 2.6%
Accrued Expenses $9.186M $9.261M $8.058M
YoY Change 12.37% 14.93% 12.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.357M
YoY Change
Total Short-Term Liabilities $13.06M $10.44M $11.22M
YoY Change 8.57% -6.98% 9.24%
LONG-TERM LIABILITIES
Long-Term Debt $23.93M $25.19M $25.00M
YoY Change -4.06% 0.78% 0.43%
Other Long-Term Liabilities $3.900M $4.000M $4.200M
YoY Change -7.14% -4.76% -6.67%
Total Long-Term Liabilities $23.93M $25.19M $25.00M
YoY Change -4.06% 0.78% 0.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.06M $10.44M $11.22M
Total Long-Term Liabilities $23.93M $25.19M $25.00M
Total Liabilities $40.88M $39.66M $40.84M
YoY Change -1.35% -2.9% 3.02%
SHAREHOLDERS EQUITY
Retained Earnings -$234.1M -$231.0M -$202.6M
YoY Change 10.9% 13.98% 15.35%
Common Stock $313.8M $310.4M $245.5M
YoY Change 26.39% 26.45% 19.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.76M $79.42M $42.82M
YoY Change
Total Liabilities & Shareholders Equity $120.6M $119.1M $83.66M
YoY Change 53.35% 42.34% 20.11%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$3.110M -$4.470M -$7.050M
YoY Change -63.15% -36.6% 25.0%
Depreciation, Depletion And Amortization $970.0K $980.0K $990.0K
YoY Change -3.0% -1.01% 10.0%
Cash From Operating Activities -$1.220M -$1.790M -$5.100M
YoY Change -79.04% -64.9% -31.45%
INVESTING ACTIVITIES
Capital Expenditures -$450.0K -$660.0K -$730.0K
YoY Change 50.0% -9.59% 329.41%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$450.0K -$660.0K -$730.0K
YoY Change 50.0% -9.59% 329.41%
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 1.830M 56.53M 440.0K
YoY Change -253.78% 12747.73% 37.5%
NET CHANGE
Cash From Operating Activities -1.220M -1.790M -5.100M
Cash From Investing Activities -450.0K -660.0K -730.0K
Cash From Financing Activities 1.830M 56.53M 440.0K
Net Change In Cash 160.0K 54.08M -5.390M
YoY Change -102.19% -1103.34% -26.06%
FREE CASH FLOW
Cash From Operating Activities -$1.220M -$1.790M -$5.100M
Capital Expenditures -$450.0K -$660.0K -$730.0K
Free Cash Flow -$770.0K -$1.130M -$4.370M
YoY Change -86.05% -74.14% -39.89%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
VERACYTE, INC.
dei Entity Small Business
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
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us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
217000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3046000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10679000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3419000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11695000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-211087000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-230981000 USD
CY2017Q3 us-gaap Revenues
Revenues
17519000 USD
us-gaap Revenues
Revenues
52357000 USD
CY2018Q3 us-gaap Revenues
Revenues
23466000 USD
us-gaap Revenues
Revenues
66258000 USD
CY2018Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.25
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7885000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
23215000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
10081000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31247000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4825000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4425000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6061081 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6581890 shares
CY2018Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5750000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
37225000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
79417000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2500000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33946748 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33881705 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38620036 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35769623 shares
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
188000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
23000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
-1201000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
834000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
0 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
230000 USD
CY2018Q3 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1 financial_institution
vcyt Numberof Products
NumberofProducts
3 product
CY2017Q3 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
262000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
2400000 USD
CY2018Q3 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
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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0001384101-18-000078-index-headers.html Edgar Link pending
0001384101-18-000078-index.html Edgar Link pending
0001384101-18-000078.txt Edgar Link pending
0001384101-18-000078-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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vcyt-09302018x10q.htm Edgar Link pending
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vcyt-20180630.xml Edgar Link completed
vcyt-20180630.xsd Edgar Link pending
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