$VCYT
Veracyte Inc

2016 Q4 Form 10-Q Financial Statement

#000162828016020770 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $18.26M $18.60M $12.34M
YoY Change 30.02% 50.81% 25.36%
Cost Of Revenue $6.520M $6.367M $5.618M
YoY Change 5.5% 13.33% 34.72%
Gross Profit $11.74M $12.24M $6.717M
YoY Change 49.17% 82.16% 18.47%
Gross Profit Margin 64.3% 65.77% 54.45%
Selling, General & Admin $11.56M $12.85M $11.78M
YoY Change -5.32% 9.12% 4.68%
% of Gross Profit 98.47% 105.02% 175.32%
Research & Development $3.590M $4.006M $3.563M
YoY Change 7.49% 12.43% 59.78%
% of Gross Profit 30.58% 32.74% 53.04%
Depreciation & Amortization $910.0K $900.0K $640.0K
YoY Change 49.18% 40.63% 120.69%
% of Gross Profit 7.75% 7.36% 9.53%
Operating Expenses $15.41M $16.86M $15.34M
YoY Change -2.53% 9.89% 13.79%
Operating Profit -$3.670M -$4.886M -$8.888M
YoY Change -53.78% -45.03% 13.8%
Interest Expense -$810.0K $799.0K $92.00K
YoY Change 636.36% 768.48% -183.64%
% of Operating Profit
Other Income/Expense, Net $80.00K $48.00K $35.00K
YoY Change 60.0% 37.14% 75.0%
Pretax Income -$4.400M -$5.640M -$8.950M
YoY Change -45.07% -36.98% 13.29%
Income Tax
% Of Pretax Income
Net Earnings -$4.400M -$5.640M -$8.950M
YoY Change -45.07% -36.98% 13.29%
Net Earnings / Revenue -24.1% -30.32% -72.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$138.7K -$202.0K -$323.8K
COMMON SHARES
Basic Shares Outstanding 27.95M shares 27.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.20M $31.70M $46.10M
YoY Change 51.41% -31.24% 4.77%
Cash & Equivalents $59.22M $31.70M $46.12M
Short-Term Investments
Other Short-Term Assets $2.200M $1.500M $3.700M
YoY Change 46.67% -59.46% 76.19%
Inventory $3.475M $3.416M $4.000M
Prepaid Expenses
Receivables $8.756M $6.312M $3.500M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $73.63M $42.95M $57.30M
YoY Change 53.66% -25.04% 13.02%
LONG-TERM ASSETS
Property, Plant & Equipment $11.48M $10.44M $6.200M
YoY Change 11.31% 68.31% 63.16%
Goodwill $1.057M $1.057M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $134.0K $203.0K $800.0K
YoY Change -15.72% -74.63% 166.67%
Total Long-Term Assets $27.41M $26.70M $23.60M
YoY Change 0.27% 13.13% 11.85%
TOTAL ASSETS
Total Short-Term Assets $73.63M $42.95M $57.30M
Total Long-Term Assets $27.41M $26.70M $23.60M
Total Assets $101.0M $69.65M $80.90M
YoY Change 34.27% -13.91% 12.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.424M $3.081M $6.600M
YoY Change -52.33% -53.32% -23.26%
Accrued Expenses $9.110M $7.189M $7.400M
YoY Change 4.85% -2.85% 21.31%
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 $11.53M $10.27M $15.40M
YoY Change -21.65% -33.31% -14.44%
LONG-TERM LIABILITIES
Long-Term Debt $24.92M $24.89M $5.000M
YoY Change 399.36% 397.82% 38.89%
Other Long-Term Liabilities $4.400M $4.500M $2.400M
YoY Change 2.33% 87.5% 50.0%
Total Long-Term Liabilities $24.92M $24.89M $7.400M
YoY Change 399.36% 236.36% 42.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.53M $10.27M $15.40M
Total Long-Term Liabilities $24.92M $24.89M $7.400M
Total Liabilities $41.45M $39.65M $23.00M
YoY Change 72.76% 72.37% -2.13%
SHAREHOLDERS EQUITY
Retained Earnings -$180.1M -$175.7M
YoY Change 21.08%
Common Stock $239.7M $205.7M
YoY Change 19.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.58M $30.01M $57.80M
YoY Change
Total Liabilities & Shareholders Equity $101.0M $69.65M $80.90M
YoY Change 34.27% -13.91% 12.67%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$4.400M -$5.640M -$8.950M
YoY Change -45.07% -36.98% 13.29%
Depreciation, Depletion And Amortization $910.0K $900.0K $640.0K
YoY Change 49.18% 40.63% 120.69%
Cash From Operating Activities -$4.230M -$7.440M -$3.810M
YoY Change 49.47% 95.28% -41.74%
INVESTING ACTIVITIES
Capital Expenditures -$450.0K -$170.0K -$1.130M
YoY Change -89.26% -84.96% 91.53%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$450.0K -$170.0K -$1.120M
YoY Change -89.26% -84.82% -85.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 32.20M 320.0K 0.000
YoY Change -161100.0% -100.0%
NET CHANGE
Cash From Operating Activities -4.230M -7.440M -3.810M
Cash From Investing Activities -450.0K -170.0K -1.120M
Cash From Financing Activities 32.20M 320.0K 0.000
Net Change In Cash 27.52M -7.290M -4.930M
YoY Change -490.91% 47.87% -64.81%
FREE CASH FLOW
Cash From Operating Activities -$4.230M -$7.440M -$3.810M
Capital Expenditures -$450.0K -$170.0K -$1.130M
Free Cash Flow -$3.780M -$7.270M -$2.680M
YoY Change -377.94% 171.27% -54.96%

Facts In Submission

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CY2016Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
120000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
603000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-148726000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-175681000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
12335000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
35461000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
18603000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
46828000 USD
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6048000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18606000 USD
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7087000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
22416000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4186000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4745000 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
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
950486 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2568269 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
386000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
225066 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1440350 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.29
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6511000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8640000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4179521 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5287887 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.03
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.54
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
8421000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5059400 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.54
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
10.42
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.15
CY2016Q3 us-gaap Share Price
SharePrice
7.61
CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
6206000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M2D
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
P7Y7M17D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M22D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
113923 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
51252000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
30005000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2100000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27640806 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25428506 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27916819 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27865100 shares
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
1173000 USD
vcyt Capital Expenditures Incurred But Not Yet Paid Net
CapitalExpendituresIncurredButNotYetPaidNet
0 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
59000 USD
vcyt Debt Instrument End Of Term Payment Interest Amount
DebtInstrumentEndOfTermPaymentInterestAmount
206000 USD
vcyt Deferred Stock Offering Costs
DeferredStockOfferingCosts
71000 USD
vcyt Deferred Stock Offering Costs
DeferredStockOfferingCosts
0 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
1578000 USD
vcyt Increase Decrease In Accrued Liabilities And Deferred Rent
IncreaseDecreaseInAccruedLiabilitiesAndDeferredRent
-1091000 USD
CY2016Q3 vcyt Number Of Major Financial Institutions With Which Cash And Cash Equivalents Deposited
NumberOfMajorFinancialInstitutionsWithWhichCashAndCashEquivalentsDeposited
1
CY2016Q3 vcyt Number Of Suppliers With Purchase Obligations
NumberOfSuppliersWithPurchaseObligations
5 supplier
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
0 USD
vcyt Payment Of End Of Term Obligation
PaymentOfEndOfTermObligation
288000 USD
CY2015Q3 vcyt Revenue Percent
RevenuePercent
1.00
vcyt Revenue Percent
RevenuePercent
1.00
CY2016Q3 vcyt Revenue Percent
RevenuePercent
1.00
vcyt Revenue Percent
RevenuePercent
1.00
CY2015Q3 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
5350000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
16504000 USD
CY2016Q3 vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
4700000 USD
vcyt Revenue Recognized On Accrual Basis
RevenueRecognizedOnAccrualBasis
15350000 USD
CY2015Q3 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.57
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.53
CY2016Q3 vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.75
vcyt Revenue Recognized On Accrual Basis Percentage
RevenueRecognizedOnAccrualBasisPercentage
0.67
CY2015Q3 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
6985000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
18957000 USD
CY2016Q3 vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
13903000 USD
vcyt Revenue Recognized Received In Cash
RevenueRecognizedReceivedInCash
31478000 USD
CY2015Q3 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.43
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.47
CY2016Q3 vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.25
vcyt Revenue Recognized Received In Cash Percentage
RevenueRecognizedReceivedInCashPercentage
0.33
vcyt Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod1
218061 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>

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0001628280-16-020770.txt Edgar Link pending
0001628280-16-020770-xbrl.zip Edgar Link pending
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vcyt-09302016xex311.htm Edgar Link pending
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vcyt-20160930.xml Edgar Link completed
vcyt-20160930.xsd Edgar Link pending
vcyt-20160930_cal.xml Edgar Link unprocessable
vcyt-20160930_def.xml Edgar Link unprocessable
vcyt-20160930_lab.xml Edgar Link unprocessable
vcyt-20160930_pre.xml Edgar Link unprocessable