$VCYT
Veracyte Inc

2016 Q3 Form 10-Q Financial Statement

#000162828016018398 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $18.60M $14.68M $11.91M
YoY Change 50.81% 23.24% 37.19%
Cost Of Revenue $6.367M $6.301M $5.139M
YoY Change 13.33% 22.61% 29.45%
Gross Profit $12.24M $8.374M $6.769M
YoY Change 82.16% 23.71% 43.72%
Gross Profit Margin 65.77% 57.06% 56.84%
Selling, General & Admin $12.85M $14.33M $12.47M
YoY Change 9.12% 14.92% 38.13%
% of Gross Profit 105.02% 171.17% 184.27%
Research & Development $4.006M $4.267M $3.103M
YoY Change 12.43% 37.51% 38.53%
% of Gross Profit 32.74% 50.96% 45.84%
Depreciation & Amortization $900.0K $940.0K $650.0K
YoY Change 40.63% 44.62% 132.14%
% of Gross Profit 7.36% 11.23% 9.6%
Operating Expenses $16.86M $18.60M $15.58M
YoY Change 9.89% 19.42% 38.21%
Operating Profit -$4.886M -$10.49M -$9.074M
YoY Change -45.03% 15.65% 38.32%
Interest Expense $799.0K $785.0K $90.00K
YoY Change 768.48% 772.22% -181.82%
% of Operating Profit
Other Income/Expense, Net $48.00K $36.00K $28.00K
YoY Change 37.14% 28.57% 40.0%
Pretax Income -$5.640M -$11.24M -$9.140M
YoY Change -36.98% 22.98% 37.24%
Income Tax
% Of Pretax Income
Net Earnings -$5.640M -$11.24M -$9.140M
YoY Change -36.98% 22.98% 37.24%
Net Earnings / Revenue -30.32% -76.59% -76.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$202.0K -$403.4K -$350.9K
COMMON SHARES
Basic Shares Outstanding 27.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.70M $39.00M $51.00M
YoY Change -31.24% -23.53% -12.07%
Cash & Equivalents $31.70M $38.99M $51.05M
Short-Term Investments
Other Short-Term Assets $1.500M $1.500M $2.100M
YoY Change -59.46% -28.57% 40.0%
Inventory $3.416M $3.502M $4.000M
Prepaid Expenses
Receivables $6.312M $3.387M $3.600M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $42.95M $47.40M $60.70M
YoY Change -25.04% -21.92% -5.45%
LONG-TERM ASSETS
Property, Plant & Equipment $10.44M $10.94M $4.200M
YoY Change 68.31% 160.4% 27.27%
Goodwill $1.057M $1.057M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $203.0K $172.0K $800.0K
YoY Change -74.63% -78.5% 166.67%
Total Long-Term Assets $26.70M $27.44M $21.80M
YoY Change 13.13% 25.85% 505.56%
TOTAL ASSETS
Total Short-Term Assets $42.95M $47.40M $60.70M
Total Long-Term Assets $26.70M $27.44M $21.80M
Total Assets $69.65M $74.83M $82.50M
YoY Change -13.91% -9.29% 21.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.081M $2.705M $2.700M
YoY Change -53.32% 0.19% -68.24%
Accrued Expenses $7.189M $8.910M $7.200M
YoY Change -2.85% 23.75% 41.18%
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 $10.27M $11.84M $11.80M
YoY Change -33.31% 0.36% -30.99%
LONG-TERM LIABILITIES
Long-Term Debt $24.89M $24.67M $5.000M
YoY Change 397.82% 393.42% 25.0%
Other Long-Term Liabilities $4.500M $4.600M $400.0K
YoY Change 87.5% 1050.0% -75.0%
Total Long-Term Liabilities $24.89M $24.67M $5.400M
YoY Change 236.36% 356.87% -3.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.27M $11.84M $11.80M
Total Long-Term Liabilities $24.89M $24.67M $5.400M
Total Liabilities $39.65M $41.08M $17.40M
YoY Change 72.37% 136.09% -23.35%
SHAREHOLDERS EQUITY
Retained Earnings -$175.7M -$170.0M
YoY Change
Common Stock $205.7M $203.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.01M $33.75M $65.10M
YoY Change
Total Liabilities & Shareholders Equity $69.65M $74.83M $82.50M
YoY Change -13.91% -9.29% 21.68%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$5.640M -$11.24M -$9.140M
YoY Change -36.98% 22.98% 37.24%
Depreciation, Depletion And Amortization $900.0K $940.0K $650.0K
YoY Change 40.63% 44.62% 132.14%
Cash From Operating Activities -$7.440M -$7.710M -$11.46M
YoY Change 95.28% -32.72% 94.24%
INVESTING ACTIVITIES
Capital Expenditures -$170.0K -$730.0K -$340.0K
YoY Change -84.96% 114.71% -56.41%
Acquisitions
YoY Change
Other Investing Activities $0.00 $120.0K -$600.0K
YoY Change -120.0%
Cash From Investing Activities -$170.0K -$610.0K -$950.0K
YoY Change -84.82% -35.79% 21.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 320.0K -140.0K 37.66M
YoY Change -100.37% 8268.89%
NET CHANGE
Cash From Operating Activities -7.440M -7.710M -11.46M
Cash From Investing Activities -170.0K -610.0K -950.0K
Cash From Financing Activities 320.0K -140.0K 37.66M
Net Change In Cash -7.290M -8.460M 25.25M
YoY Change 47.87% -133.5% -505.3%
FREE CASH FLOW
Cash From Operating Activities -$7.440M -$7.710M -$11.46M
Capital Expenditures -$170.0K -$730.0K -$340.0K
Free Cash Flow -$7.270M -$6.980M -$11.12M
YoY Change 171.27% -37.23% 117.19%

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603000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-148726000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-170044000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
11908000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
23126000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
14675000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
28225000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6937000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12557000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8263000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15329000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2712000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3173000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1107411 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1058359 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
876886 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
383000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2381926 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1200000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
131166 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1420050 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.30
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2861000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6511000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4179521 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5362144 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.03
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.59
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2855000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5056829 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.59
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.50
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.80
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.17
CY2016Q2 us-gaap Share Price
SharePrice
5.03
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2791000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y5M27D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M21D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M22D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
113266 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
51252000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
33753000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2000000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26048934 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24304022 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27859918 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27838955 shares
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
285000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
42000 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
39000 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
206000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
-569000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
712000 USD
CY2016Q2 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1
CY2016Q2 vcyt Number Of Suppliers With Purchase Obligations
NumberOfSuppliersWithPurchaseObligations
2 supplier
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
0 USD
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
288000 USD
CY2015Q2 vcyt Revenue Percent
RevenuePercent
1.00
vcyt Revenue Percent
RevenuePercent
1.00
CY2016Q2 vcyt Revenue Percent
RevenuePercent
1.00
vcyt Revenue Percent
RevenuePercent
1.00
CY2015Q2 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
5321000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
11153000 USD
CY2016Q2 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
5326000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
10650000 USD
CY2015Q2 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.55
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.52
CY2016Q2 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.64
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.62
CY2015Q2 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
6587000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
11973000 USD
CY2016Q2 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
9349000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
17575000 USD
CY2015Q2 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.45
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.48
CY2016Q2 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.36
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.38
vcyt Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageGrantDateFairValue
2.12
vcyt Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageGrantDateFairValue
1.69
vcyt Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod1
124161 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;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%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the 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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0001628280-16-018398-index-headers.html Edgar Link pending
0001628280-16-018398-index.html Edgar Link pending
0001628280-16-018398.txt Edgar Link pending
0001628280-16-018398-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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vcyt-06302016xex311.htm Edgar Link pending
vcyt-06302016xex312.htm Edgar Link pending
vcyt-06302016xex321.htm Edgar Link pending
vcyt-06302016xex322.htm Edgar Link pending
vcyt-06302016xq2.htm Edgar Link pending
vcyt-20160630.xml Edgar Link completed
vcyt-20160630.xsd Edgar Link pending
vcyt-20160630_cal.xml Edgar Link unprocessable
vcyt-20160630_def.xml Edgar Link unprocessable
vcyt-20160630_lab.xml Edgar Link unprocessable
vcyt-20160630_pre.xml Edgar Link unprocessable