2019 Q3 Form 10-Q Financial Statement

#000138410119000100 Filed on July 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $30.97M $30.14M $22.75M
YoY Change 31.99% 32.46% 23.61%
Cost Of Revenue $9.114M $8.777M $8.246M
YoY Change 10.33% 6.44% 18.48%
Gross Profit $21.86M $21.36M $14.51M
YoY Change 43.76% 47.25% 26.73%
Gross Profit Margin 70.57% 70.88% 63.76%
Selling, General & Admin $19.71M $20.86M $15.56M
YoY Change 24.58% 34.12% 9.65%
% of Gross Profit 90.18% 97.68% 107.24%
Research & Development $3.643M $3.330M $4.601M
YoY Change 6.55% -27.62% 27.7%
% of Gross Profit 16.67% 15.59% 31.72%
Depreciation & Amortization $970.0K $920.0K $990.0K
YoY Change -1.02% -7.07% 4.21%
% of Gross Profit 4.44% 4.31% 6.83%
Operating Expenses $23.36M $24.19M $20.16M
YoY Change 21.38% 20.03% 13.31%
Operating Profit -$1.763M -$3.100M -$5.917M
YoY Change -59.04% -47.61% -10.47%
Interest Expense $58.00K $235.0K $481.0K
YoY Change -88.35% -51.14% -40.47%
% of Operating Profit
Other Income/Expense, Net $1.091M $841.0K $150.0K
YoY Change 227.63% 460.67% 26.05%
Pretax Income -$730.0K -$2.490M -$6.250M
YoY Change -83.67% -60.16% -14.38%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$730.0K -$2.494M -$6.250M
YoY Change -83.67% -60.1% -14.38%
Net Earnings / Revenue -2.36% -8.28% -27.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$15.02K -$54.62K -$182.2K
COMMON SHARES
Basic Shares Outstanding 48.45M shares 41.64M shares 34.35M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.7M $192.6M $23.80M
YoY Change 151.54% 709.24% -48.82%
Cash & Equivalents $195.7M $192.6M $23.76M
Short-Term Investments
Other Short-Term Assets $2.200M $2.600M $1.800M
YoY Change 22.22% 44.44% -10.0%
Inventory $6.608M $5.104M $3.049M
Prepaid Expenses
Receivables $23.61M $19.63M $13.01M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $228.1M $220.0M $41.64M
YoY Change 139.14% 428.28% -33.77%
LONG-TERM ASSETS
Property, Plant & Equipment $8.488M $8.150M $9.035M
YoY Change -5.05% -9.8% -10.48%
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 $1.228M $1.061M $598.0K
YoY Change 46.71% 77.42% 346.27%
Total Long-Term Assets $32.23M $32.43M $23.83M
YoY Change 35.97% 36.1% -6.52%
TOTAL ASSETS
Total Short-Term Assets $228.1M $220.0M $41.64M
Total Long-Term Assets $32.23M $32.43M $23.83M
Total Assets $260.3M $252.4M $65.46M
YoY Change 118.6% 285.54% -25.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.568M $4.061M $1.962M
YoY Change 373.87% 106.98% -16.48%
Accrued Expenses $9.760M $9.820M $8.429M
YoY Change 5.39% 16.5% -0.25%
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 $16.77M $15.32M $10.39M
YoY Change 60.71% 47.44% -3.78%
LONG-TERM LIABILITIES
Long-Term Debt $639.0K $585.0K $25.10M
YoY Change -97.46% -97.67% 0.53%
Other Long-Term Liabilities $11.90M $12.20M $4.000M
YoY Change 197.5% 205.0% -6.98%
Total Long-Term Liabilities $639.0K $585.0K $25.10M
YoY Change -97.46% -97.67% 0.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.77M $15.32M $10.39M
Total Long-Term Liabilities $639.0K $585.0K $25.10M
Total Liabilities $29.28M $28.14M $39.66M
YoY Change -26.16% -29.05% -2.09%
SHAREHOLDERS EQUITY
Retained Earnings -$239.2M -$238.5M -$226.5M
YoY Change 3.57% 5.29% 15.8%
Common Stock $470.3M $462.7M $252.3M
YoY Change 51.5% 83.39% 3.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $231.0M $224.2M $25.81M
YoY Change
Total Liabilities & Shareholders Equity $260.3M $252.4M $65.46M
YoY Change 118.6% 285.54% -25.9%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$730.0K -$2.494M -$6.250M
YoY Change -83.67% -60.1% -14.38%
Depreciation, Depletion And Amortization $970.0K $920.0K $990.0K
YoY Change -1.02% -7.07% 4.21%
Cash From Operating Activities -$1.550M -$2.460M -$3.100M
YoY Change -13.41% -20.65% -36.86%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K -$650.0K -$530.0K
YoY Change -63.64% 22.64% 381.82%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$220.0K -$660.0K -$530.0K
YoY Change -66.67% 24.53% 381.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $137.8M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.790M 127.9M 240.0K
YoY Change -91.53% 53200.0% -1300.0%
NET CHANGE
Cash From Operating Activities -1.550M -2.460M -3.100M
Cash From Investing Activities -220.0K -660.0K -530.0K
Cash From Financing Activities 4.790M 127.9M 240.0K
Net Change In Cash 3.020M 124.8M -3.390M
YoY Change -94.42% -3781.42% -32.74%
FREE CASH FLOW
Cash From Operating Activities -$1.550M -$2.460M -$3.100M
Capital Expenditures -$240.0K -$650.0K -$530.0K
Free Cash Flow -$1.310M -$1.810M -$2.570M
YoY Change 15.93% -29.57% -46.46%

Facts In Submission

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CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2387000 USD
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2573000 USD
CY2018Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
55000000 USD
CY2019Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137800000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137848000 USD
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
403000 USD
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
881000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6729000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8940000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8150000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24900000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4601000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8276000 USD
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3330000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6765000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-234086000 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-238497000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22751000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42792000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30136000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
59665000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
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
CY2019Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
23.25
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9623000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21166000 USD
CY2019Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13943000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26420000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2906000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4325000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6235258 shares
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6567833 shares
CY2018Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5750000 shares
CY2019Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6325000 shares
CY2018Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
0 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
397000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
491000 USD
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
137848000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
137848000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
37225000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
30008000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
25806000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
79755000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
83772000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
224240000 USD
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2800000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
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
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45586081 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43389540 shares
CY2018Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
90000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
181000 USD
CY2019Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
177000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
318000 USD
CY2018Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
1646000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
2729000 USD
CY2019Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
2334000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
3932000 USD
CY2018Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
-5000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
-4000 USD
CY2019Q2 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
55000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
75000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
63000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
72000 USD
CY2018Q4 vcyt Development Programs
DevelopmentPrograms
2 program
CY2016Q4 vcyt Finance Lease Upfront Payment
FinanceLeaseUpfrontPayment
330000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
67000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
1319000 USD
vcyt Increase Decrease Operating Lease Right Of Use Asset Lease Liability
IncreaseDecreaseOperatingLeaseRightOfUseAssetLeaseLiability
0 USD
vcyt Increase Decrease Operating Lease Right Of Use Asset Lease Liability
IncreaseDecreaseOperatingLeaseRightOfUseAssetLeaseLiability
173000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
149000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
120000 USD
CY2018Q2 vcyt Legal Settlement Regarding Short Swing Profits Net Of Tax
LegalSettlementRegardingShortSwingProfitsNetOfTax
0 USD
vcyt Legal Settlement Regarding Short Swing Profits Net Of Tax
LegalSettlementRegardingShortSwingProfitsNetOfTax
310000 USD
CY2019Q2 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1 financial_institution
vcyt Numberof Products
NumberofProducts
3 product
CY2019Q2 vcyt Numberof Tissue Sample Deliveries
NumberofTissueSampleDeliveries
0 delivery
CY2018Q2 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
315000 USD
vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
423000 USD
CY2019Q2 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
2668000 USD
vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
6908000 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. 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-20190630.xml Edgar Link completed
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vcyt-20190630_cal.xml Edgar Link unprocessable
vcyt-20190630_def.xml Edgar Link unprocessable
vcyt-20190630_lab.xml Edgar Link unprocessable
vcyt-20190630_pre.xml Edgar Link unprocessable