Filing Flows › Veracyte (VCYT) › Q1 2025
Veracyte (VCYT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Veracyte (VCYT) reported revenue of $114M for the first quarter 2025 (Q1 2025), +18% from a year earlier and -4% from the quarter before. Operating margin was 2.5%, net earnings $7.0M (6.2% of revenue).
Veracyte, Q1 2025: revenue $114M (+18% year over year), operating margin 2.5%, net earnings $7.0M, operating cash flow $5.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $114M | -4% | +18% |
| Gross profit | $79.5M | +1% | +27% |
| Operating profit | $2.9M | -30% | — |
| Net earnings | $7.0M | +38% | — |
| Operating cash flow | $5.4M | -78% | — |
| Free cash flow | $3.5M | -83% | — |
What changed
Revenue was $114.5M in Q1 2025, up 18% year over year and down 4% from the previous quarter. Testing revenue was the largest line at 94% of revenue. Testing revenue added $17.0M year over year (up 19%), 96% of the total change. Other Testing Revenue declined 87%.
Gross margin was 69.5%, up 5.0 points from a year earlier. Operating profit was $2.9M, a 2.5% margin (up 7.3 points year over year). Operating expenses grew 14% against revenue growth of 18%. The fastest-growing cost line was General & admin (+29%). Net earnings were $7.0M. The effective tax rate was 5.1%. Non-operating items added $4.5M, 61% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.4M, 76% of net earnings. Non-cash charges added back $5.4M of depreciation and amortization and $11.0M of share-based compensation. Working capital and other items used $18.0M. Capital expenditures of $1.8M left free cash flow of $3.5M.
Questions
What was Veracyte's revenue in the first quarter 2025?
Veracyte (VCYT) reported revenue of $114M for the first quarter 2025 (Q1 2025), +18% from a year earlier and -4% from the quarter before.
Was Veracyte profitable in the first quarter 2025?
Operating profit was $2.9M (2.5% of revenue) and net earnings $7.0M.
Source: Veracyte 10-Q on SEC EDGAR.