Filing Flows › Veracyte (VCYT) › Q1 2026
Veracyte (VCYT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Veracyte (VCYT) reported revenue of $139M for the first quarter 2026 (Q1 2026), +21% from a year earlier and -1% from the quarter before. Operating margin was 16.3%, net earnings $28.7M (20.6% of revenue).
Veracyte, Q1 2026: revenue $139M (+22% year over year), operating margin 16.3%, net earnings $28.7M, operating cash flow $35.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $139M | -1% | +21% |
| Gross profit | $101M | -0.8% | +27% |
| Operating profit | $22.6M | -39% | +680% |
| Net earnings | $28.7M | -30% | +307% |
| Operating cash flow | $35.2M | -33% | +557% |
| Free cash flow | $32.3M | -34% | +810% |
What changed
Revenue was $139.1M in Q1 2026, up 21% year over year and down 1% from the previous quarter. Testing revenue was the largest line at 97% of revenue. Testing revenue added $27.8M year over year (up 26%), 113% of the total change. Biopharmaceutical and other revenue declined 92%.
Gross margin was 72.7%, up 3.3 points from Q1 2025. Operating profit was $22.6M, a 16.3% margin (up 13.7 points year over year). Of the extra revenue versus Q1 2025, 80% reached operating profit, above the 3% margin then. Operating expenses grew 2% against revenue growth of 21%. The fastest-growing cost line was Research & development (+53%). Net earnings were $28.7M, up 307% year over year. The effective tax rate was 4.2%. Non-operating items added $7.3M, 24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $35.2M (up 557% year over year), 123% of net earnings. Non-cash charges added back $5.4M of depreciation and amortization and $12.8M of share-based compensation. Working capital and other items used $11.7M. Capital expenditures of $3.0M left free cash flow of $32.3M.
Questions
What was Veracyte's revenue in the first quarter 2026?
Veracyte (VCYT) reported revenue of $139M for the first quarter 2026 (Q1 2026), +21% from a year earlier and -1% from the quarter before.
Was Veracyte profitable in the first quarter 2026?
Operating profit was $22.6M (16.3% of revenue) and net earnings $28.7M.
Source: Veracyte 10-Q on SEC EDGAR.