$VCYT
VERACYTE, INC.

2019 Q4 Form 10-Q Financial Statement

#000138410119000132 Filed on October 22, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $29.73M $30.97M $23.47M
YoY Change 15.46% 31.99% 33.95%
Cost Of Revenue $10.12M $9.114M $8.261M
YoY Change 16.32% 10.33% 15.23%
Gross Profit $19.61M $21.86M $15.21M
YoY Change 15.01% 43.76% 46.91%
Gross Profit Margin 65.96% 70.57% 64.8%
Selling, General & Admin $22.40M $19.71M $15.82M
YoY Change 37.34% 24.58% 18.04%
% of Gross Profit 114.23% 90.18% 104.06%
Research & Development $4.370M $3.643M $3.419M
YoY Change 42.81% 6.55% 12.25%
% of Gross Profit 22.28% 16.67% 22.49%
Depreciation & Amortization $1.280M $970.0K $980.0K
YoY Change 31.96% -1.02% -1.01%
% of Gross Profit 6.53% 4.44% 6.45%
Operating Expenses $27.81M $23.36M $19.24M
YoY Change 38.29% 21.38% 16.97%
Operating Profit -$8.200M -$1.763M -$4.304M
YoY Change 167.97% -59.04% -32.41%
Interest Expense -$80.00K $58.00K $498.0K
YoY Change -85.19% -88.35% -38.9%
% of Operating Profit
Other Income/Expense, Net $820.0K $1.091M $333.0K
YoY Change 67.35% 227.63% 148.51%
Pretax Income -$7.460M -$730.0K -$4.470M
YoY Change 139.87% -83.67% -36.6%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.458M -$730.0K -$4.470M
YoY Change 139.81% -83.67% -36.6%
Net Earnings / Revenue -25.09% -2.36% -19.05%
Basic Earnings Per Share
Diluted Earnings Per Share -$151.8K -$15.02K -$115.7K
COMMON SHARES
Basic Shares Outstanding 48.84M shares 48.45M shares 34.53M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.3M $195.7M $77.80M
YoY Change 104.23% 151.54% 88.83%
Cash & Equivalents $159.3M $195.7M $77.85M
Short-Term Investments
Other Short-Term Assets $2.200M $2.200M $1.800M
YoY Change -8.33% 22.22% 12.5%
Inventory $6.806M $6.608M $3.463M
Prepaid Expenses
Receivables $19.33M $23.61M $12.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $187.7M $228.1M $95.37M
YoY Change 93.59% 139.14% 63.85%
LONG-TERM ASSETS
Property, Plant & Equipment $8.933M $8.488M $8.939M
YoY Change -0.08% -5.05% -13.05%
Goodwill $2.725M $1.057M $1.057M
YoY Change 157.81% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.437M $1.228M $837.0K
YoY Change 32.32% 46.71% 370.22%
Total Long-Term Assets $87.53M $32.23M $23.70M
YoY Change 269.52% 35.97% -6.87%
TOTAL ASSETS
Total Short-Term Assets $187.7M $228.1M $95.37M
Total Long-Term Assets $87.53M $32.23M $23.70M
Total Assets $275.2M $260.3M $119.1M
YoY Change 128.13% 118.6% 42.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.328M $5.568M $1.175M
YoY Change -7.47% 373.87% -62.83%
Accrued Expenses $13.73M $9.760M $9.261M
YoY Change 49.51% 5.39% 14.93%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $17.47M $16.77M $10.44M
YoY Change 33.77% 60.71% -6.98%
LONG-TERM LIABILITIES
Long-Term Debt $694.0K $639.0K $25.19M
YoY Change -97.1% -97.46% 0.78%
Other Long-Term Liabilities $17.60M $11.90M $4.000M
YoY Change 351.28% 197.5% -4.76%
Total Long-Term Liabilities $694.0K $639.0K $25.19M
YoY Change -97.1% -97.46% 0.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.47M $16.77M $10.44M
Total Long-Term Liabilities $694.0K $639.0K $25.19M
Total Liabilities $35.76M $29.28M $39.66M
YoY Change -12.54% -26.16% -2.9%
SHAREHOLDERS EQUITY
Retained Earnings -$246.7M -$239.2M -$231.0M
YoY Change 5.38% 3.57% 13.98%
Common Stock $486.1M $470.3M $310.4M
YoY Change 54.9% 51.5% 26.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $239.5M $231.0M $79.42M
YoY Change
Total Liabilities & Shareholders Equity $275.2M $260.3M $119.1M
YoY Change 128.13% 118.6% 42.34%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$7.458M -$730.0K -$4.470M
YoY Change 139.81% -83.67% -36.6%
Depreciation, Depletion And Amortization $1.280M $970.0K $980.0K
YoY Change 31.96% -1.02% -1.01%
Cash From Operating Activities $1.790M -$1.550M -$1.790M
YoY Change -246.72% -13.41% -64.9%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M -$240.0K -$660.0K
YoY Change 144.44% -63.64% -9.59%
Acquisitions
YoY Change
Other Investing Activities -$40.00M $0.00 $0.00
YoY Change
Cash From Investing Activities -$41.10M -$220.0K -$660.0K
YoY Change 9033.33% -66.67% -9.59%
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 2.970M 4.790M 56.53M
YoY Change 62.3% -91.53% 12747.73%
NET CHANGE
Cash From Operating Activities 1.790M -1.550M -1.790M
Cash From Investing Activities -41.10M -220.0K -660.0K
Cash From Financing Activities 2.970M 4.790M 56.53M
Net Change In Cash -36.34M 3.020M 54.08M
YoY Change -22812.5% -94.42% -1103.34%
FREE CASH FLOW
Cash From Operating Activities $1.790M -$1.550M -$1.790M
Capital Expenditures -$1.100M -$240.0K -$660.0K
Free Cash Flow $2.890M -$1.310M -$1.130M
YoY Change -475.32% 15.93% -74.14%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1420000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1656000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2387000 USD
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2196000 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
55039000 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
23000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2445000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11603000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8940000 USD
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8488000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24900000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3419000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
6255000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10408000 USD
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
138000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11695000 USD
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3643000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1266000 USD
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
55038000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
55038000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
137848000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
37225000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
25806000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
79417000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
79755000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
224240000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
231024000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2800000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38620036 shares
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-234086000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-239227000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23466000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
66258000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30973000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90638000 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
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
10081000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31247000 USD
CY2019Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13088000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
39508000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4425000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6965000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6235258 shares
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5988598 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
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
393000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
790000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
774000 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35769623 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48588296 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45141502 shares
CY2018Q3 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
87000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
268000 USD
CY2019Q3 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
254000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Espp
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationESPP
572000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
23000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
821000 USD
CY2018Q3 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
1432000 USD
vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
4162000 USD
CY2019Q3 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployee
2324000 USD
CY2019Q3 vcyt Adjustments To Additional Paid In Capital Share Based Compensation Non Employee
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationNonEmployee
62000 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
834000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
1258000 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
71000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
230000 USD
vcyt Interest Expenseand Prepayment Penalty
InterestExpenseandPrepaymentPenalty
174000 USD
vcyt Legal Settlement Regarding Short Swing Profits Net Of Tax
LegalSettlementRegardingShortSwingProfitsNetOfTax
310000 USD
CY2019Q3 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1 financial_institution
vcyt Numberof Products
NumberofProducts
3 product
CY2019Q3 vcyt Numberof Tissue Sample Deliveries
NumberofTissueSampleDeliveries
0 delivery
vcyt Percentof Principal Amount Needed To Be Collateralized By U.S.Treasuryand Agency Securities
PercentofPrincipalAmountNeededToBeCollateralizedByU.S.TreasuryandAgencySecurities
1.02
CY2018Q3 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
1130000 USD
vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
1553000 USD
CY2019Q3 vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
4232000 USD
vcyt Sharebased Compensation Arrangementby Sharebased Payment Award Value Optionsand Non Option Equity Instruments Exercisesin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardValueOptionsandNonOptionEquityInstrumentsExercisesinPeriod
11141000 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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0001384101-19-000132.txt Edgar Link pending
0001384101-19-000132-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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vcyt-09302019x10q.htm Edgar Link pending
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vcyt-20190930.xml Edgar Link completed
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vcyt-20190930_cal.xml Edgar Link unprocessable
vcyt-20190930_def.xml Edgar Link unprocessable
vcyt-20190930_lab.xml Edgar Link unprocessable
vcyt-20190930_pre.xml Edgar Link unprocessable