2019 Q2 Form 10-Q Financial Statement

#000138410119000046 Filed on April 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $30.14M $29.53M $20.04M
YoY Change 32.46% 47.34% 21.96%
Cost Of Revenue $8.777M $8.513M $7.867M
YoY Change 6.44% 8.21% 24.93%
Gross Profit $21.36M $21.02M $12.17M
YoY Change 47.25% 72.63% 20.12%
Gross Profit Margin 70.88% 71.17% 60.75%
Selling, General & Admin $20.86M $19.38M $17.19M
YoY Change 34.12% 12.77% 28.69%
% of Gross Profit 97.68% 92.22% 141.18%
Research & Development $3.330M $3.435M $3.675M
YoY Change -27.62% -6.53% -8.81%
% of Gross Profit 15.59% 16.34% 30.19%
Depreciation & Amortization $920.0K $945.0K $980.0K
YoY Change -7.07% -3.57% 8.65%
% of Gross Profit 4.31% 4.5% 8.05%
Operating Expenses $24.19M $22.82M $20.86M
YoY Change 20.03% 9.37% 20.0%
Operating Profit -$3.100M -$2.067M -$8.955M
YoY Change -47.61% -76.92% 19.13%
Interest Expense $235.0K $303.0K $448.0K
YoY Change -51.14% -32.37% -44.0%
% of Operating Profit
Other Income/Expense, Net $841.0K $453.0K $226.0K
YoY Change 460.67% 100.44% 126.0%
Pretax Income -$2.490M -$1.920M -$9.180M
YoY Change -60.16% -79.08% 11.68%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.494M -$1.917M -$9.180M
YoY Change -60.1% -79.12% 11.68%
Net Earnings / Revenue -8.28% -6.49% -45.81%
Basic Earnings Per Share
Diluted Earnings Per Share -$54.62K -$46.64K -$267.9K
COMMON SHARES
Basic Shares Outstanding 41.64M shares 41.11M shares 34.29M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.6M $67.80M $27.20M
YoY Change 709.24% 149.26% -47.18%
Cash & Equivalents $192.6M $67.84M $27.15M
Short-Term Investments
Other Short-Term Assets $2.600M $2.400M $2.100M
YoY Change 44.44% 14.29% -4.55%
Inventory $5.104M $3.768M $4.557M
Prepaid Expenses
Receivables $19.63M $16.62M $13.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $220.0M $90.62M $47.05M
YoY Change 428.28% 92.6% -29.03%
LONG-TERM ASSETS
Property, Plant & Equipment $8.150M $8.114M $9.215M
YoY Change -9.8% -11.95% -13.53%
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 $1.061M $1.049M $466.0K
YoY Change 77.42% 125.11% 266.93%
Total Long-Term Assets $32.43M $32.92M $24.14M
YoY Change 36.1% 36.37% -8.25%
TOTAL ASSETS
Total Short-Term Assets $220.0M $90.62M $47.05M
Total Long-Term Assets $32.43M $32.92M $24.14M
Total Assets $252.4M $123.5M $71.19M
YoY Change 285.54% 73.53% -23.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.061M $4.064M $3.356M
YoY Change 106.98% 21.1% 28.53%
Accrued Expenses $9.820M $8.788M $8.483M
YoY Change 16.5% 3.6% 24.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $15.32M $14.33M $11.84M
YoY Change 47.44% 21.03% 25.8%
LONG-TERM LIABILITIES
Long-Term Debt $585.0K $12.85M $25.02M
YoY Change -97.67% -48.62% 0.29%
Other Long-Term Liabilities $12.20M $12.60M $4.100M
YoY Change 205.0% 207.32% -6.82%
Total Long-Term Liabilities $585.0K $12.85M $25.02M
YoY Change -97.67% -48.62% 0.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.32M $14.33M $11.84M
Total Long-Term Liabilities $585.0K $12.85M $25.02M
Total Liabilities $28.14M $39.77M $41.18M
YoY Change -29.05% -3.44% 4.91%
SHAREHOLDERS EQUITY
Retained Earnings -$238.5M -$236.0M -$220.3M
YoY Change 5.29% 7.15% 16.97%
Common Stock $462.7M $319.8M $250.3M
YoY Change 83.39% 27.77% 3.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.2M $83.77M $30.01M
YoY Change
Total Liabilities & Shareholders Equity $252.4M $123.5M $71.19M
YoY Change 285.54% 73.53% -23.13%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$2.494M -$1.917M -$9.180M
YoY Change -60.1% -79.12% 11.68%
Depreciation, Depletion And Amortization $920.0K $945.0K $980.0K
YoY Change -7.07% -3.57% 8.65%
Cash From Operating Activities -$2.460M -$1.011M -$7.413M
YoY Change -20.65% -86.36% -8.37%
INVESTING ACTIVITIES
Capital Expenditures -$650.0K $765.0K $227.0K
YoY Change 22.64% 237.0% -63.09%
Acquisitions
YoY Change
Other Investing Activities $0.00 $20.00K $0.00
YoY Change -100.0%
Cash From Investing Activities -$660.0K -$749.0K -$227.0K
YoY Change 24.53% 229.96% 26.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $137.8M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $12.50M $0.00
YoY Change
Cash From Financing Activities 127.9M -$8.394M $901.0K
YoY Change 53200.0% -1031.63% 63.82%
NET CHANGE
Cash From Operating Activities -2.460M -$1.011M -$7.413M
Cash From Investing Activities -660.0K -$749.0K -$227.0K
Cash From Financing Activities 127.9M -$8.394M $901.0K
Net Change In Cash 124.8M -$10.15M -$6.739M
YoY Change -3781.42% 50.68% -12.71%
FREE CASH FLOW
Cash From Operating Activities -$2.460M -$1.011M -$7.413M
Capital Expenditures -$650.0K $765.0K $227.0K
Free Cash Flow -$1.810M -$1.776M -$7.640M
YoY Change -29.57% -76.75% -12.23%

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CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4181000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8940000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8114000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
12500000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3675000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3435000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-234086000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-236003000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20041000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29529000 USD
CY2018Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
14118000 USD
CY2018Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.25
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11543000 USD
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12477000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1175000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1759000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6235258 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6733949 shares
CY2018Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5750000 shares
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
30008000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
79755000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
83772000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2800000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34271254 shares
CY2018Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
91000 USD
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41168593 shares
CY2019Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
141000 USD
CY2018Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
1083000 USD
CY2019Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
1598000 USD
CY2018Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
1000 USD
CY2019Q1 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
20000 USD
CY2018Q1 vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
56000 USD
CY2019Q1 vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
95000 USD
CY2016Q4 vcyt Finance Lease Upfront Payment
FinanceLeaseUpfrontPayment
330000 USD
CY2018Q1 vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
228000 USD
CY2019Q1 vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
287000 USD
CY2018Q1 vcyt Increase Decrease Operating Lease Right Of Use Asset Lease Liability
IncreaseDecreaseOperatingLeaseRightOfUseAssetLeaseLiability
0 USD
CY2019Q1 vcyt Increase Decrease Operating Lease Right Of Use Asset Lease Liability
IncreaseDecreaseOperatingLeaseRightOfUseAssetLeaseLiability
80000 USD
CY2018Q1 vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
70000 USD
CY2019Q1 vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
64000 USD
CY2018Q1 vcyt Legal Settlement Regarding Short Swing Profits Net Of Tax
LegalSettlementRegardingShortSwingProfitsNetOfTax
310000 USD
CY2019Q1 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1 financial_institution
CY2019Q1 vcyt Numberof Products
NumberofProducts
3 product
CY2018Q1 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
108000 USD
CY2019Q1 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
4240000 USD
CY2019Q1 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; the useful lives of property and equipment; the recoverability of long-lived assets; the incremental borrowing rate for leases; 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>

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vcyt-20190331.xml Edgar Link completed
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vcyt-20190331_cal.xml Edgar Link unprocessable
vcyt-20190331_def.xml Edgar Link unprocessable
vcyt-20190331_lab.xml Edgar Link unprocessable
vcyt-20190331_pre.xml Edgar Link unprocessable