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Veracyte (VCYT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Veracyte (VCYT) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $152M · 21¢ of every $1 of revenue kept as net profit · operating margin 10.9%
Veracyte made $152M in Q3 2026 (+15% Y/Y): Testing revenue $146M, Product revenue $4.6M, Biopharmaceutical and other revenue $709K. Operating margin 10.9%, net earnings $31.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $151.8M in Q3 2026, up 15% year over year and up 1% from the previous quarter. Testing revenue was the largest line at 96% of revenue. Testing revenue added $18.7M year over year (up 15%), 94% of the total change. Biopharmaceutical and other revenue declined 13%.
Gross margin was 70.6%, up 1.4 points from Q3 2025. Operating profit was $16.6M, a 10.9% margin (down 6.5 points year over year). Operating profit fell $6.4M even though revenue rose $19.9M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 32% against revenue growth of 15%. The fastest-growing cost line was Research & development (+101%). Net earnings were $31.5M, up 65% year over year. The effective tax rate was -49.1%. Non-operating items added $4.6M, 22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $40.3M (down 10% year over year), 128% of net earnings. Non-cash charges added back $6.0M of depreciation and amortization and $14.0M of share-based compensation. Working capital and other items used $11.2M. Capital expenditures of $2.3M left free cash flow of $37.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $152M | +15% | 10.9% | $31.5M | $40.3M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $150M | +16% | 15.3% | $25.5M | $45.8M |
| Q1 2026 | 10-Q | May 6, 2026 | $139M | +22% | 16.3% | $28.7M | $35.2M |
| Q4 2025 | 10-K | Feb 26, 2026 | $141M | +18% | 26.4% | $41.1M | $52.6M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $132M | +14% | 17.4% | $19.1M | $44.8M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $130M | +14% | -4.0% | −$980K | $33.6M |
| Q1 2025 | 10-Q | May 8, 2025 | $114M | +18% | 2.5% | $7.0M | $5.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Medicare & Medicaid — 34% of its revenue · Stated in 10-K (sentence) · source
About Veracyte
At Veracyte, we believe that exceptional cancer care begins with exceptional diagnostics. We are a global diagnostics company that empowers clinicians with the high-value insights they need to guide and assure patients at pivotal moments in the race to diagnose and treat cancer. Our high-performing tests enable clinicians to make more confident diagnostic, prognostic and predictive treatment decisions. Insights from these tests help patients avoid unnecessary procedures and interventions and accelerate time to appropriate treatment, thereby improving outcomes for patients across our global markets.
In its own words, from its 10-K, filed Feb 26, 2026.
Veracyte against its Services-Medical Laboratories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +15%. Operating margin: 10.9% against the peers' median 7.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VCYT Veracyte | Q3 2026 | $152M | +15% | 10.9% |
| LH Labcorp Holdings | Q3 2026 | $3.8B | +7% | 10.6% |
| DGX Quest Diagnostics | Q3 2026 | $3.1B | +10% | 15.5% |
| NTRA Natera | Q3 2026 | $794M | +34% | -8.6% |
| FTRE Fortrea Holdings | Q3 2026 | $692M | -1% | 2.2% |
| RDNT RadNet | Q2 2026 | $623M | +25% | 6.3% |
| GH Guardant Health | Q3 2026 | $361M | +36% | -36.8% |
| CAI Caris Life Sciences | Q3 2026 | $275M | +27% | 7.0% |
| LMRI Lumexa Imaging Holdings | Q2 2026 | $264M | +5% | 8.7% |
Source: Veracyte 10-Q on SEC EDGAR · CIK 1384101 · Services-Medical Laboratories
Guidance and outlook
13F: who owns VCYT and who is buying
More on VCYT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Veracyte guidance history: guided vs reported
- Veracyte gross margin by quarter
- Veracyte operating margin by quarter
- Veracyte net income by quarter
- Veracyte free cash flow by quarter
- Veracyte R&D spending by quarter
- Veracyte capital expenditures by quarter
- Veracyte Testing revenue revenue by quarter
- Veracyte Product revenue revenue by quarter
- Veracyte Biopharmaceutical and other revenue revenue by quarter