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Veracyte, Inc. (VCYT) stock

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NASDAQ: VCYT Nasdaq Life Sciences Tools & Services Next results ~November 4, 2026

B+ Fundamentals grade

Veracyte, Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$35

Cash-flow model

Base case. Range ~$28–$45 across our lower- and higher-growth cases (13.4%–23.4% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 28% below it.

Price used: $49.00, November 2, 2026

Veracyte, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Veracyte files

Where Veracyte stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $562m, up 17.3% on a year earlier, about the same pace as a quarter earlier. That growth ranks 6 of 31 among the life sciences tools & services companies we cover. Free-cash-flow margin rose to 29.5% from 17.5% a year earlier. Operating margin widened to 18.8% from 2.9%. The diluted share count is up 2.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $37.02 a share, against a share price of $51.33.

Source: 10-Q filed July 31, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Veracyte, Inc.'s trailing-twelve-month revenue grew 17.3% year on year, with a free-cash-flow margin of 29.5%. Where it stands out: free-cash-flow margin of 29.5% ranks 1 of 54 life sciences tools & services companies we cover.

Our discounted-cash-flow model values the business at ~$35 per share in the base case (~$28–$45 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 97.7% while net income grew 334.7%: a 237pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 17.3% over the last 12 months, against a median of 6.9% for life sciences tools & services companies we cover.
  • Margins widening. Operating margin is up 15.9 points on a year ago.
  • Strong cash generation. 29.5% of revenue turned into free cash flow, against a median of -1.3% for life sciences tools & services companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.3bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $49.00 is 28% above our value per share of $35.
  • Share dilution. Diluted shares rose 2.5% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 66% and a beta of 1.6 against the S&P 500.
  • Insiders selling. 11 insiders sold $23M of stock over the past 365 days and none bought (93% under pre-set trading plans).
  • Heavily shorted. 14.4% of the shares available to trade are sold short (6.6 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 31, 2026
Earnings per share
$0.54 against an average estimate of $0.43: beat by 25.1%
Revenue
$150m, up 15.5% on a year earlier
Share reaction
-16.9% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.41

Veracyte's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.0%
  • 1 week+1.7%
  • 1 month+7.0%
  • This year+16.4%
  • 1 year+35.8%
  • 5 years-8.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$562M
Operating margin
18.8%
Net margin
20.4%
EPS (TTM, diluted)
$1.40

Growth

Revenue growth
+17.3%
Change in growth rate
+0.4 pts
Share count change
+2.5%

Cash

Free cash flow (TTM)
$166M
FCF margin
29.5%
Stock pay % of revenue
8.6%

Earnings

Last results
July 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Veracyte, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 24.4% a year of cash-flow growth for five years.That is close to the 20.7% a year revenue growth Veracyte has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in24.4%
  • Last 12 months17.3%
  • 3 years a year19.6%
  • 5 years a year20.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($50.69, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$35
Price used
$50.69close November 3, 2026
Implied change
▼ 31%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Veracyte, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($65.8M, FY2026 Q2 TTM), growing 13.8% and 16% in the next two years (forecasts, guidance and its record), then back to 18.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$28–~$45 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Veracyte, Inc.'s free cash flow after stock-based pay ( $65.8M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Veracyte, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$35 ~$28–$45 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$45 ~$35–$62 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.7 ~$1.5–$4.7 Left out: out of range vs price (0.05x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$38 ~$35–$45 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Veracyte, Inc. with Life Sciences Tools & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +64%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $16$20$25$33$42$55
8.5% $13$16$20$25$32$41
10% $11$13$17$21$26$33

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$7.20$7.74$6.53$12.58$27.92$48.94$41.20$23.73$27.51$39.60$42.10$49.00
Market value$187m$223m$222m$466m$1.3bn$2.6bn$2.8bn$1.7bn$2.0bn$3.1bn$3.4bn$4.0bn
+ Net debt (− = net cash)−$34m−$34m−$9m−$53m−$159m−$349m−$172m−$154m−$216m−$239m−$363m−$300m
Enterprise value$153m$189m$213m$413m$1.1bn$2.3bn$2.6bn$1.5bn$1.8bn$2.9bn$3.0bn$3.7bn
Multiples
Price / sales 3.8x3.4x3.1x5.1x10.7x22.2x12.7x5.7x5.5x6.9x6.6x7.1x
Price / earnings —————————128.2x51.1x35.0x
Price / free cash flow ————————58.3x48.5x26.8x24.1x
EV / EBITDA —————————72.1x38.3x29.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

14 /100

Weak moat

How hard Veracyte's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -4.6% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -18.7%; its worst year was -41.3%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -6.0% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 34.4% over five years; stock-based pay has been a median 8.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (19 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $147m and EPS of $0.41 (range $0.35 to $0.45) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.91 +7% $594m +15%
Next $1.94 +2% $660m +11%

Next year's EPS estimate has moved +3.0% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +5.8% on 90 days ago. In the last 30 days, 1 analyst raised Veracyte, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Veracyte, Inc., last 90 days
$1.80 $1.85 $1.90 $1.95 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.80 Current fiscal year, 60 days ago: $1.91 Current fiscal year, 30 days ago: $1.91 Current fiscal year, 7 days ago: $1.91 Current fiscal year, Now: $1.91 $1.91 Next fiscal year, 90 days ago: $1.89 Next fiscal year, 60 days ago: $1.95 Next fiscal year, 30 days ago: $1.95 Next fiscal year, 7 days ago: $1.95 Next fiscal year, Now: $1.94 $1.94

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.80$1.89
60 days ago $1.91$1.95
30 days ago $1.91$1.95
7 days ago $1.91$1.95
Now $1.91$1.94

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.43 $0.54 +25.1%
Mar 2026 $0.33 $0.52 +56.0%
Dec 2025 $0.41 $0.53 +29.8%
Sept 2025 $0.32 $0.51 +59.5%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Veracyte, Inc.'s revenue by +13.8% next year and +16.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+11.6%, weight 68%) and the company's own record (+18.4%, weight 32%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy1192%
Hold18%
Sell00%

Monthly trend

  1. Oct 202629112
  2. Sep 2026291113
  3. Aug 2026281112
  4. Jul 2026271111

Counts of recommendations published by analysts covering Veracyte, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.4%
of tradable shares
Days to cover
6.64
at average volume
Short interest, 1 month
+17%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.5%
of shares
Employees
755
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +35.8%

$36.08 on October 31, 2025 to $49.00

ThenNowEffect
Revenue (last 12 months) $479m $562m +17.3%
Net margin 5.5% 20.4% +270.7%
P/E multiple 109.3x 35.0x −68.0%
Share count 80m 82m −2.5%

Biggest factor: net margin.

Last 3 years +100.3%

$24.46 on November 3, 2023 to $49.00

ThenNowEffect
Revenue (last 12 months) $329m $562m +71.0%
P/S multiple 5.4x 7.1x +33.1%
Share count 72m 82m −11.9%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VCYT−16%−42%+16%+44%+6%+16%
Industry peers (median)+5%−53%−3%−15%−7%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VCYT50%33%50%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VCYT−60%−64%−34%−35%−50%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 81% from February 9, 2021 to October 20, 2022. Getting back needed a 432% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$30.01 – $60.49
From 52-week high
−19.0%
vs 50-day average
+10.0%
vs 200-day average
+14.3%
Volatility (1 year)
66%
Beta vs S&P 500
1.55

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±12.6%
After a week
7 up, 5 down
typical move ±14.8%
After a month
6 up, 6 down
typical move ±21.6%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −16.9% +2.4% −17.2% −22.2%
May 5, 2026 +23.1% +2.2% +18.3% +49.3%
February 25, 2026 +8.6% +0.3% +1.6% −8.1%
January 12, 2026 +2.4% 0.0% −0.8% −14.4%
November 4, 2025 +26.3% −0.8% +17.0% +30.1%
August 6, 2025 +10.7% +0.7% +22.7% +29.7%
May 7, 2025 +2.1% +1.1% −6.8% −10.1%
February 24, 2025 −14.6% −1.0% −14.3% −14.0%
November 6, 2024 +3.9% +3.3% +10.0% +22.8%
August 6, 2024 +28.8% +0.2% +55.0% +41.8%
May 7, 2024 −3.8% +0.1% +10.0% +2.3%
February 22, 2024 −9.6% +2.1% −4.0% −14.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Veracyte, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Veracyte, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Veracyte, Inc.
$300M $400M $500M $600M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $343.1M Revenue (TTM), FY23 Q4: $361.1M Revenue (TTM), FY24 Q1: $375.5M Revenue (TTM), FY24 Q2: $399.6M Revenue (TTM), FY24 Q3: $425.3M Revenue (TTM), FY24 Q4: $445.8M Revenue (TTM), FY25 Q1: $463.4M Revenue (TTM), FY25 Q2: $479.1M Revenue (TTM), FY25 Q3: $495.1M Revenue (TTM), FY25 Q4: $517.1M Revenue (TTM), FY26 Q1: $541.7M Revenue (TTM), FY26 Q2: $561.9M $561.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $343.1M
FY23 Q4 $361.1M
FY24 Q1 $375.5M
FY24 Q2 $399.6M
FY24 Q3 $425.3M
FY24 Q4 $445.8M
FY25 Q1 $463.4M
FY25 Q2 $479.1M
FY25 Q3 $495.1M
FY25 Q4 $517.1M
FY26 Q1 $541.7M
FY26 Q2 $561.9M
Revenue growth, TTM YoY Veracyte, Inc.
16% 18% 20% 22% 24% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 21.0% Revenue growth, TTM YoY, FY23 Q4: 21.8% Revenue growth, TTM YoY, FY24 Q1: 20.7% Revenue growth, TTM YoY, FY24 Q2: 21.6% Revenue growth, TTM YoY, FY24 Q3: 23.9% Revenue growth, TTM YoY, FY24 Q4: 23.5% Revenue growth, TTM YoY, FY25 Q1: 23.4% Revenue growth, TTM YoY, FY25 Q2: 19.9% Revenue growth, TTM YoY, FY25 Q3: 16.4% Revenue growth, TTM YoY, FY25 Q4: 16.0% Revenue growth, TTM YoY, FY26 Q1: 16.9% Revenue growth, TTM YoY, FY26 Q2: 17.3% 17.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 21.0%
FY23 Q4 21.8%
FY24 Q1 20.7%
FY24 Q2 21.6%
FY24 Q3 23.9%
FY24 Q4 23.5%
FY25 Q1 23.4%
FY25 Q2 19.9%
FY25 Q3 16.4%
FY25 Q4 16.0%
FY26 Q1 16.9%
FY26 Q2 17.3%
Operating margin (TTM) Veracyte, Inc.
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -16.2% Operating margin (TTM), FY23 Q4: -23.8% Operating margin (TTM), FY24 Q1: -21.3% Operating margin (TTM), FY24 Q2: -16.8% Operating margin (TTM), FY24 Q3: -5.5% Operating margin (TTM), FY24 Q4: 3.6% Operating margin (TTM), FY25 Q1: 5.1% Operating margin (TTM), FY25 Q2: 2.9% Operating margin (TTM), FY25 Q3: 5.0% Operating margin (TTM), FY25 Q4: 11.2% Operating margin (TTM), FY26 Q1: 14.3% Operating margin (TTM), FY26 Q2: 18.8% 18.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -16.2%
FY23 Q4 -23.8%
FY24 Q1 -21.3%
FY24 Q2 -16.8%
FY24 Q3 -5.5%
FY24 Q4 3.6%
FY25 Q1 5.1%
FY25 Q2 2.9%
FY25 Q3 5.0%
FY25 Q4 11.2%
FY26 Q1 14.3%
FY26 Q2 18.8%
FCF margin (TTM) Veracyte, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 8.5% FCF margin (TTM), FY23 Q4: 9.5% FCF margin (TTM), FY24 Q1: 7.0% FCF margin (TTM), FY24 Q2: 10.0% FCF margin (TTM), FY24 Q3: 13.3% FCF margin (TTM), FY24 Q4: 14.3% FCF margin (TTM), FY25 Q1: 16.9% FCF margin (TTM), FY25 Q2: 17.5% FCF margin (TTM), FY25 Q3: 19.8% FCF margin (TTM), FY25 Q4: 24.5% FCF margin (TTM), FY26 Q1: 28.7% FCF margin (TTM), FY26 Q2: 29.5% 29.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 8.5%
FY23 Q4 9.5%
FY24 Q1 7.0%
FY24 Q2 10.0%
FY24 Q3 13.3%
FY24 Q4 14.3%
FY25 Q1 16.9%
FY25 Q2 17.5%
FY25 Q3 19.8%
FY25 Q4 24.5%
FY26 Q1 28.7%
FY26 Q2 29.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Veracyte took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $517M
  2. Other income $10.4M · 2.0%
  3. Cost of revenue $155M · 29.9%
  4. Gross profit $363M · 70.1%
  5. Research and development $70.8M · 13.7%
  6. Selling, general and admin $211M · 40.8%
  7. Other operating costs $23M · 4.4%
  8. Operating income $57.8M · 11.2%
  9. Net income $66.4M · 12.8%

Shares of revenue. Source: Veracyte's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 3 12 22 38 50 65 72 92 120 117 220 297 361 446 517 562
Gross profit −0 4 9 22 28 40 44 59 84 — — 176 230 298 363 403
EBITDA −15 −18 −22 −28 −31 −25 −23 −18 −11 −27 −62 −15 −59 40 79 127
Operating income −15 −19 −23 −29 −33 −29 −27 −22 −15 −35 −82 −41 −86 16 58 106
Net income −14 −19 −26 −29 −34 −31 −31 −23 −13 −35 −76 −37 −74 24 66 114
Diluted EPS −$4.98 −$5.74 −$1.23 −$1.36 −$1.30 −$1.09 −$0.91 −$0.62 −$0.27 −$0.66 −$1.11 −$0.51 −$1.02 $0.31 $0.82 $1.40
Growth (year on year)
Revenue — +339.6% +88.2% +74.5% +29.6% +31.5% +10.6% +27.9% +30.8% −2.4% +86.8% +35.1% +21.8% +23.5% +16.0% +17.3%
EBITDA — — — — — — — — — — — — — — +100.0% +243.9%
Operating income — — — — — — — — — — — — — — +257.9% +664.9%
Net income — — — — — — — — — — — — — — +174.9% +334.7%
Diluted EPS — — — — — — — — — — — — — — +164.5% +324.0%
Margins
Gross margin −10.6% 34.8% 42.4% 56.5% 56.6% 60.9% 60.8% 64.0% 70.0% — — 59.2% 63.6% 66.9% 70.1% 71.7%
EBITDA margin −554.1% −156.7% −101.3% −72.9% −63.1% −38.9% −31.5% −19.9% −9.1% −23.4% −28.4% −5.1% −16.2% 8.9% 15.3% 22.5%
Operating margin −577.2% −162.8% −105.9% −76.0% −67.6% −44.3% −36.9% −24.2% −12.6% −30.1% −37.3% −13.9% −23.8% 3.6% 11.2% 18.8%
Net margin −546.1% −160.4% −116.9% −76.9% −68.1% −48.2% −43.1% −25.0% −10.5% −29.7% −34.4% −12.3% −20.6% 5.4% 12.8% 20.4%
Free-cash-flow margin −521.7% −74.2% −93.6% −77.7% −66.9% −49.5% −35.7% −16.7% −5.0% −10.7% −16.9% −0.3% 9.5% 14.3% 24.5% 29.5%
Cash flow
Cash from operations −14 −7 −19 −28 −27 −28 −24 −14 −3 −10 −32 8 44 75 136 178
Capital spending 0 1 1 2 6 4 2 2 3 3 5 9 10 11 10 12
Free cash flow −14 −9 −20 −30 −33 −32 −26 −15 −6 −13 −37 −1 34 64 127 166
Stock-based pay — — 1 4 6 6 7 6 10 13 23 27 33 36 44 49
Free cash flow after stock pay — — −22 −33 −39 −39 −32 −21 −16 −26 −60 −28 1 28 83 117
Balance sheet
Cash 8 14 71 35 39 59 34 78 159 349 173 154 216 239 363 300
Total debt 0 0 5 5 5 25 25 25 1 1 1 — 0 0 0 0
Net debt (negative = net cash) −8 −14 −66 −30 −34 −34 −9 −53 −159 −349 −172 −154 −216 −239 −363 −300
Diluted shares 3m 3m 21m 22m 26m 29m 34m 37m 46m 53m 68m 72m 73m 78m 81m 82m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.5bn
Short-term assets $575mLonger-term assets $912m
What it owes, and who funded it · $1.5bn
Short-term liabilities $63mLonger-term liabilities $35mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $575m of assets due within a year against $63m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $575m short-term assets against $35m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Veracyte, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.5%
year over year
R&D spending
16.6%
of revenue
Days sales outstanding
35 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in life sciences tools & services
Last 12 months unless stated VCYT AZTA TXG TWST NEO RGEN Median
Revenue, last 12 months $562m $614m $617m $432m $788m $806m $229m
Revenue growth, last 12 months 17.3% 4.9% −4.3% 19.2% 11.1% 13.8% 6.9%
Revenue growth, 3-year average 19.6% −0.9% 2.8% 22.4% 11.1% 7.3% 2.9%
Revenue growth, latest quarter 15.5% 12.0% −12.6% 23.2% 11.4% 10.9% 8.5%
Gross margin 71.7% 44.0% 70.0% 52.0% 44.8% 53.5% 51.9%
Operating margin 18.8% −28.6% −14.3% −33.6% −6.3% 2.3% −14.3%
Operating margin, 3-year average 1.6% −15.0% −23.3% −50.8% −12.5% 1.4% −22.4%
Net margin 20.4% −20.0% −12.2% −31.7% −4.1% −1.5% −16.1%
Cash from operations / revenue 31.7% 6.2% 20.6% −12.3% 0.5% 16.1% 1.3%
Free-cash-flow margin 29.5% 1.6% 19.7% −21.6% −3.6% 13.2% −2.2%
Free-cash-flow margin, 3-year average 19.0% 5.0% 7.8% −22.0% −3.1% 16.6% 0.6%
Stock pay / revenue 8.6% 3.1% 16.0% 15.4% 4.4% 4.2% 4.4%
Change in share count 2.5% −1.1% 4.2% 2.4% 1.2% 0.3% 1.0%

Median of all 54 companies we cover in life sciences tools & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

54 life sciences tools & services companies
Measure Company Peer median Rank
Revenue growth Growth 17.3% 6.9% 13 of 54
Change in growth rate Growth +0.4pp +0.4pp 27 of 54
Gross margin Profitability 71.7% 52.0% 5 of 45
Operating margin Profitability 18.8% -14.3% 7 of 52
Net margin Profitability 20.4% -12.2% 2 of 54
Free-cash-flow margin Cash generation 29.5% -1.3% 1 of 54
Stock pay as % of revenue Cash generation 8.6% 4.4% 32 of 53
Change in share count Balance sheet 2.5% 1.0% 31 of 46
Days sales outstanding Balance sheet 35 days 62 days 8 of 48

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Testing $493M 94.2% ▲ 17.7%
Products $14.3M 2.7% ▲ 5.0%
Biopharmaceutical and Other $9.7M 1.8% ▼ 26.5%
Biopharmaceutical and Other Biopharmaceutical Revenue $6.5M 67.6% ▼ 8.6%
Biopharmaceutical and Other Contract Manufacturing and Testing $3.1M 32.4% ▼ 47.9%
Testing Other $6.2M 1.2% ▼ 47.5%
Geography
Region Revenue Share YoY
United States $497M 96.0% ▲ 17.3%
Outside the US $20.5M 4.0% ▼ 7.6%

From Veracyte, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5.2B
Institutions reporting
363
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
72 / 39

Top buyers and sellers, Q2 2026: 200 institutions bought and 159 sold ; the biggest buyer was Driehaus Capital Management LLC (+1.0M shares) and the biggest seller Arrowmark Colorado Holdings LLC (−932K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $792M 13.5M 15.2% ▲ 2.4%
FMR LLC $452M 7.7M 8.7% ▼ 0.8%
Artisan Partners Limited Partnership $325M 5.5M 6.2% ▲ 0.8%
Vanguard Portfolio Management LLC $277M 4.7M 5.3% ▲ 6.1%
State Street Corp $276M 4.7M 5.3% ▼ 6.8%
Vanguard Capital Management LLC $211M 3.6M 4.0% ▲ 1.7%
Dimensional Fund Advisors LP $166M 2.8M 3.2% ▼ 1.9%
First Trust Advisors LP $147M 2.5M 2.8% ▲ 18.5%
ARK Investment Management LLC $135M 2.3M 2.6% ▼ 24.8%
Wellington Management Group LLP $134M 2.3M 2.6% ▼ 11.1%
Geode Capital Management, LLC $124M 2.1M 2.4% ▲ 7.5%
Goldman Sachs Group Inc $96.5M 1.6M 1.8% ▲ 28.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Veracyte, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $22.6M 61 trades by 11 insiders · 93% under pre-set plans
Net ▼ $22.6M net selling
Insider Date Trade Shares Price Value
Eastham Karin Director October 27, 2026 Sell pre-set plan 14,850 $50.00 $742,573
Holstein Jens Director October 27, 2026 Sell pre-set plan 7,500 $50.00 $375,000
Bhanji Muna Director October 19, 2026 Sell pre-set plan 1,864 $43.70 $81,457
Holstein Jens Director September 24, 2026 Sell pre-set plan 7,500 $47.00 $352,500
Leite John Global Chief Commercial Off September 21, 2026 Sell pre-set plan 4,015 $40.00 $160,600
Holstein Jens Director September 14, 2026 Sell pre-set plan 5,000 $40.95 $204,750
Mcguire Annie EVP, General Counsel September 4, 2026 Sell pre-set plan 2,154 $42.79 $92,170
Mcguire Annie EVP, General Counsel September 4, 2026 Sell pre-set plan 1,100 $43.67 $48,037
Chambers Rebecca Chief Financial Officer September 4, 2026 Sell pre-set plan 2,477 $42.81 $106,040
Chambers Rebecca Chief Financial Officer September 4, 2026 Sell pre-set plan 1,175 $43.71 $51,359
Febbo Phillip G. Chief Scientific & Med Officer September 4, 2026 Sell pre-set plan 2,705 $43.66 $118,100
Febbo Phillip G. Chief Scientific & Med Officer September 4, 2026 Sell pre-set plan 10,405 $42.89 $446,270

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 15 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 1 sale of Veracyte, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded February 18, 2026, filed March 9, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded November 12, 2025, filed December 15, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 19, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • May 5, 2026
  • February 25, 2026
  • January 12, 2026
  • November 4, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Veracyte, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Veracyte, Inc. in brief

What does Veracyte, Inc. do?
Veracyte, Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.
What is Veracyte, Inc.'s stock ticker?
Veracyte, Inc. trades under the ticker VCYT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Veracyte, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Veracyte, Inc. reported revenue of $562M, 17.3% higher than a year earlier, according to its SEC filings.
What is Veracyte, Inc.'s free cash flow?
Veracyte, Inc.'s free-cash-flow margin is 29.5% of revenue over the trailing twelve months, ranking 1 of the 54 life sciences tools & services companies we cover.
What is Veracyte, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Veracyte, Inc.'s free cash flow after stock-based pay gives ~$35 per share in the base case, and ~$28–$45 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Veracyte, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Artisan Partners Limited Partnership. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Veracyte, Inc.'s market cap?
On November 2, 2026, Veracyte, Inc.'s market capitalisation was about $4B, with a price-to-earnings ratio of 35.0 and net debt of -$300M. Market figures come from third-party market data and may be delayed.
Who are Veracyte, Inc.'s competitors?
In our Life Sciences Tools & Services peer group, the companies closest to Veracyte, Inc. are Azenta, Inc., 10x Genomics, Inc., Twist Bioscience Corp, Neogenomics Inc and Repligen Corp. The side-by-side comparison below sets their revenue, margins and growth against Veracyte, Inc.'s.
Are insiders buying or selling Veracyte, Inc. stock?
Over the last 12 months, Veracyte, Inc.'s directors and officers reported 0 open-market purchases and 61 sales on Form 4. The insider trading page charts every trade.
When is Veracyte, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Veracyte, Inc. announces its own schedule.