Veracyte, Inc.

VCYT

HealthcareMid CapUS Equities · NYSE / NASDAQ

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Company Profile

Veracyte, Inc. operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Genomic Classifiers for prostate cancer diagnosis; Decipher Bladder Genomic Classifier for bladder cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; and Percepta Nasal Swab Test for lung cancer diagnosis. It also provides the nCounter analysis system services. The company was formerly known as Calderome, Inc. and changed its name to Veracyte, Inc. in March 2008. Veracyte, Inc. was incorporated in 2006 and is headquartered in South San Francisco, California.

Valuation

Market Cap$4.0B

Current Price$53.30as of Jun 23, 2026

P/E Ratio60.06

P/B Ratio3.04

EV / EBITDA40.86

EV / Sales7.08

Profitability

Operating Margin15.1%

Net Profit Margin12.8%

EBITDA Margin17.3%

Returns

ROE5.1%

ROCE5.8%

ROIC %-

ROA4.7%

Solvency

Current Ratio8.15

Debt / Equity0.03

Debt / Assets0.03

CFO / Net Profit2.05

Price History▲ 99.55% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$517M▲ 16.0%

EBITDA$90M▲ 82.1%

Net Profit$66M▲ 174.9%

Cash from Ops (CFO)$136M▲ 81.5%

Free Cash Flow (FCF)$127M▲ 98.5%

Revenue CAGR 3Y20.4%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$517M	$90M	$66M	$127M	5.1%	16.0%	174.9%
2024	$446M	$49M	$24M	$64M	2.1%	23.5%	-132.4%
2023	$361M	$-49M	$-74M	$34M	-7.1%	21.8%	103.5%
2022	$297M	$-10M	$-37M	$-1M	-3.4%	-	-
2021	-	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	296.54	361.05	445.76	517.14
Operating Revenue	-	296.54	361.05	445.76	517.14
Cost Of Revenue	-	120.86	131.37	147.62	154.61
Gross Profit	-	175.68	229.68	298.14	362.53
Operating Expense	-	211.02	247.13	278.64	284.25
Research And Development	-	40.60	57.30	69.29	70.81
Selling General And Administration	-	170.76	187.72	206.04	210.95
Total Expenses	-	331.88	378.50	426.25	438.86
Operating Income	-	-35.34	-17.45	19.51	78.28
Total Operating Income As Reported	-	-41.08	-85.80	16.14	57.78
EBITDA	-	-10.30	-49.41	49.20	89.62
Normalized EBITDA	-	-7.18	18.22	54.62	112.86
EBIT	-	-36.23	-76.60	25.75	68.20
Interest Income	-	1.97	7.34	11.15	12.72
Interest Expense	-	0.20	0.02	0	0
Net Interest Income	-	1.77	7.33	11.15	12.72
Other Non Operating Income Expenses	-	0.26	1.13	0.50	0.44
Other Income Expense	-	-2.86	-66.50	-4.92	-22.80
Interest Income Non Operating	-	1.97	7.34	11.15	12.72
Interest Expense Non Operating	-	0.20	0.02	0	0
Net Non Operating Interest Income Expense	-	1.77	7.33	11.15	12.72
Pretax Income	-	-36.43	-76.61	25.74	68.20
Tax Provision	-	0.13	-2.21	1.61	1.85
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-0.66	-1.95	-0.34	-0.63
Net Income Continuous Operations	-	-36.56	-74.40	24.14	66.35
Net Income From Continuing And Discontinued Operation	-	-36.56	-74.40	24.14	66.35
Net Income From Continuing Operation Net Minority Interest	-	-36.56	-74.40	24.14	66.35
Net Income	-	-36.56	-74.40	24.14	66.35
Net Income Common Stockholders	-	-36.56	-74.40	24.14	66.35
Net Income Including Noncontrolling Interests	-	-36.56	-74.40	24.14	66.35
Normalized Income	-	-34.09	-8.73	29.21	88.97
Diluted NI Availto Com Stockholders	-	-36.56	-74.40	24.14	66.35
Basic Average Shares	-	71.55	72.64	76.48	78.58
Diluted Average Shares	-	71.55	72.64	78.16	80.57
Reconciled Depreciation	-	25.93	27.19	23.46	21.42
Reconciled Cost Of Revenue	-	97.01	106.28	127.46	135.68
Total Unusual Items	-	-3.12	-67.63	-5.41	-23.24
Total Unusual Items Excluding Goodwill	-	-3.12	-67.63	-5.41	-23.24
Special Income Charges	-	-3.32	-68.35	-3.37	-27.21
Gain On Sale Of Business	-	-	-	-	-6.71
Write Off	-	3.32	68.35	3.37	20.50
Impairment Of Capital Assets	0	3.32	68.35	3.37	-
Gain On Sale Of Security	-	0.20	0.72	-2.04	3.97
Depreciation Amortization Depletion Income Statement	-	2.08	2.11	3.30	2.49
Depreciation And Amortization In Income Statement	-	2.08	2.11	3.30	2.49
General And Administrative Expense	-	145.46	161.12	178.27	179.99
Other Gand A	-	21.84	22.46	35.80	27.88
Salaries And Wages	-	123.62	138.66	142.48	152.12
Rent Expense Supplemental	5.06	5.82	8.11	-	-
Selling And Marketing Expense	-	25.30	26.60	27.77	30.96
Rent And Landing Fees	5.06	5.82	8.11	-	-
Amortization	-	2.08	2.11	3.30	2.49
Amortization Of Intangibles Income Statement	-	2.08	2.11	3.30	2.49
Depreciation Income Statement	1.85	2.24	3.49	-	-
Other Taxes	-1.54	-2.42	-0.57	-0.50	-

Peer Comparison

Healthcare sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Veracyte, Inc.this co.	VCYT	$4.0B	60.06↑ premium	3.04	5.1%	40.86
Indivior Pharmaceuticals, Inc.	INDV	$4.4B	21.08	-44.71	-212.1%	15.07
Amneal Pharmaceuticals, Inc.	AMRX	$4.3B	59.86	-60.93	-101.8%	11.13
RadNet, Inc.	RDNT	$4.2B	-222.64	3.81	-1.7%	16.71
Waystar Holding Corp.	WAY	$3.9B

Learn while you research

Hand-picked academy chapters to deepen your understanding of Veracyte, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$517M

$90M

$66M

$127M

5.1%

16.0%

174.9%

2024

$446M

$49M

$24M

$64M

2.1%

23.5%

-132.4%

2023

$361M

$-49M

$-74M

$34M

-7.1%

21.8%

103.5%

2022

$297M

$-10M

$-37M

$-1M

-3.4%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

296.54

361.05

445.76

517.14

Operating Revenue

296.54

361.05

445.76

517.14

Cost Of Revenue

120.86

131.37

147.62

154.61

Gross Profit

175.68

229.68

298.14

362.53

Operating Expense

211.02

247.13

278.64

284.25

Research And Development

40.60

57.30

69.29

70.81

Selling General And Administration

170.76

187.72

206.04

210.95

Total Expenses

331.88

378.50

426.25

438.86

Operating Income

-35.34

-17.45

19.51

78.28

Total Operating Income As Reported

-41.08

-85.80

16.14

57.78

EBITDA

-10.30

-49.41

49.20

89.62

Normalized EBITDA

-7.18

18.22

54.62

112.86

EBIT

-36.23

-76.60

25.75

68.20

Interest Income

1.97

7.34

11.15

12.72

Interest Expense

0.20

0.02

Net Interest Income

1.77

7.33

11.15

12.72

Other Non Operating Income Expenses

0.26

1.13

0.50

0.44

Other Income Expense

-2.86

-66.50

-4.92

-22.80

Interest Income Non Operating

1.97

7.34

11.15

12.72

Interest Expense Non Operating

0.20

0.02

Net Non Operating Interest Income Expense

1.77

7.33

11.15

12.72

Pretax Income

-36.43

-76.61

25.74

68.20

Tax Provision

0.13

-2.21

1.61

1.85

Tax Rate For Calcs

Tax Effect Of Unusual Items

-0.66

-1.95

-0.34

-0.63

Net Income Continuous Operations

-36.56

-74.40

24.14

66.35

Net Income From Continuing And Discontinued Operation

-36.56

-74.40

24.14

66.35

Net Income From Continuing Operation Net Minority Interest

-36.56

-74.40

24.14

66.35

Net Income

-36.56

-74.40

24.14

66.35

Net Income Common Stockholders

-36.56

-74.40

24.14

66.35

Net Income Including Noncontrolling Interests

-36.56

-74.40

24.14

66.35

Normalized Income

-34.09

-8.73

29.21

88.97

Diluted NI Availto Com Stockholders

-36.56

-74.40

24.14

66.35

Basic Average Shares

71.55

72.64

76.48

78.58

Diluted Average Shares

71.55

72.64

78.16

80.57

Reconciled Depreciation

25.93

27.19

23.46

21.42

Reconciled Cost Of Revenue

97.01

106.28

127.46

135.68

Total Unusual Items

-3.12

-67.63

-5.41

-23.24

Total Unusual Items Excluding Goodwill

-3.12

-67.63

-5.41

-23.24

Special Income Charges

-3.32

-68.35

-3.37

-27.21

Gain On Sale Of Business

-6.71

Write Off

3.32

68.35

3.37

20.50

Impairment Of Capital Assets

3.32

68.35

3.37

Gain On Sale Of Security

0.20

0.72

-2.04

3.97

Depreciation Amortization Depletion Income Statement

2.08

2.11

3.30

2.49

Depreciation And Amortization In Income Statement

2.08

2.11

3.30

2.49

General And Administrative Expense

145.46

161.12

178.27

179.99

Other Gand A

21.84

22.46

35.80

27.88

Salaries And Wages

123.62

138.66

142.48

152.12

Rent Expense Supplemental

5.06

5.82

8.11

Selling And Marketing Expense

25.30

26.60

27.77

30.96

Rent And Landing Fees

5.06

5.82

8.11

Amortization

2.08

2.11

3.30

2.49

Amortization Of Intangibles Income Statement

2.08

2.11

3.30

2.49

Depreciation Income Statement

1.85

2.24

3.49

Other Taxes

-1.54

-2.42

-0.57

-0.50

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Veracyte, Inc.this co.

VCYT

$4.0B

60.06↑ premium

3.04

5.1%

40.86

Indivior Pharmaceuticals, Inc.

INDV

$4.4B

21.08

-44.71

-212.1%

15.07

Amneal Pharmaceuticals, Inc.

AMRX

$4.3B

59.86

-60.93

-101.8%

11.13

RadNet, Inc.

RDNT

$4.2B

-222.64

3.81

-1.7%

16.71

Waystar Holding Corp.

WAY

$3.9B

Veracyte, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Veracyte, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on