Company profile

Ticker
VCYT
Exchange
CEO
Bonnie H. Anderson
Employees
Incorporated in
Location
Fiscal year end
Former names
Calderome Inc
SEC CIK
IRS number
205455398

VCYT stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 May 20
10 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 31.12M 29.73M 30.97M 30.14M
Net income -11.72M -7.46M -730K -2.49M
Diluted EPS -0.24 -0.15 -0.02 -0.05
Net profit margin -37.65% -25.09% -2.36% -8.28%
Operating income -12.2M -8.2M -1.76M -3.1M
Net change in cash -6.19M -36.35M 3.02M 124.81M
Cash on hand 153.13M 159.32M 195.66M 192.65M
Cost of revenue 9.67M 9.11M 8.78M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 120.37M 92.01M 71.95M 65.09M
Net income -12.6M -23M -31M -31.36M
Diluted EPS -0.27 -0.62 -0.91 -1.09
Net profit margin -10.47% -25.00% -43.09% -48.18%
Operating income -15.13M -22.23M -26.54M -28.8M
Net change in cash 81.32M 44.1M -25.33M 20.14M
Cash on hand 159.32M 78M 33.89M 59.22M
Cost of revenue 36.08M 33.08M 28.2M 25.46M

Financial data from Veracyte earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
6 Jul 20 Keith Kennedy Stock Option Common Stock Option exercise Dispose M Yes 5.98 10,075 60.25K 37,017
6 Jul 20 Keith Kennedy Common Stock Sell Dispose S Yes 28.2134 80,677 2.28M 119,632
6 Jul 20 Keith Kennedy Common Stock Option exercise Aquire M Yes 7.47 22,167 165.59K 184,893
6 Jul 20 Keith Kennedy Common Stock Option exercise Aquire M Yes 5.98 10,075 60.25K 162,726
6 Jul 20 Keith Kennedy Common Stock Option exercise Aquire M Yes 9.05 15,416 139.51K 200,309
6 Jul 20 Keith Kennedy Stock Option Common Stock Option exercise Dispose M Yes 7.47 22,167 165.59K 22,223
6 Jul 20 Keith Kennedy Stock Option Common Stock Option exercise Dispose M Yes 9.05 15,416 139.51K 4,584
2 Jul 20 Keith Kennedy Common Stock Option exercise Aquire M Yes 5.98 2,800 16.74K 158,398
2 Jul 20 Keith Kennedy Common Stock Sell Dispose S Yes 28.0216 5,747 161.04K 152,651
2 Jul 20 Keith Kennedy Stock Option Common Stock Option exercise Dispose M Yes 5.98 2,800 16.74K 47,092
13F holders
Current Prev Q Change
Total holders 165 175 -5.7%
Opened positions 23 29 -20.7%
Closed positions 33 38 -13.2%
Increased positions 57 55 +3.6%
Reduced positions 62 68 -8.8%
13F shares
Current Prev Q Change
Total value 30.65B 35.1B -12.7%
Total shares 56.65M 52.86M +7.2%
Total puts 29.5K 13.2K +123.5%
Total calls 15.6K 17.8K -12.4%
Total put/call ratio 1.9 0.7 +155.0%
Largest owners
Shares Value Change
William Blair Investment Management 4.46M $108.35M +24.9%
BLK BlackRock 4.22M $102.52M -2.2%
Gilder Gagnon Howe & Co 3.57M $86.68M -5.5%
Nikko Asset Management Americas 3.29M $79.92M +7.7%
CMTDF Sumitomo Mitsui Trust 3.29M $79.92M +7.7%
ARK Investment Management 3.27M $79.39M +17.1%
IVZ Invesco 3.22M $78.34M -3.5%
Vanguard 2.71M $65.84M +1.5%
Artisan Partners Limited Partnership 2.71M $65.81M +47.3%
STT State Street 2M $48.62M +0.3%
Largest transactions
Shares Bought/sold Change
ArrowMark Colorado 1.12M +1.12M NEW
William Blair Investment Management 4.46M +887.61K +24.9%
Artisan Partners Limited Partnership 2.71M +869.68K +47.3%
Loomis Sayles & Co L P 724.27K +724.27K NEW
Granite Investment Partners 674.71K +674.71K NEW
ARK Investment Management 3.27M +477.42K +17.1%
Farallon Capital Management 1.38M +375K +37.5%
Driehaus Capital Management 67.71K -356.61K -84.0%
Friess Associates 249.16K +249.16K NEW
Robeco Institutional Asset Management B.V. 0 -245.63K EXIT

Financial report summary

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Risks
  • We have a history of losses, and we expect to incur net losses for the foreseeable future and may never achieve or sustain profitability.
  • Our financial results currently depend mainly on sales of our Afirma tests, and we will need to generate sufficient revenue from this and other diagnostic solutions to grow our business.
  • We depend on a few payers for a significant portion of our revenue and if one or more significant payers stops providing reimbursement or decreases the amount of reimbursement for our tests, our revenue could decline.
  • If payers do not provide reimbursement, rescind or modify their reimbursement policies, delay payments for our tests, recoup past payments, or if we are unable to successfully negotiate additional reimbursement contracts, our commercial success could be compromised.
  • We may experience limits on our revenue if physicians decide not to order our tests.
  • If we fail to comply with federal and state licensing requirements, we could lose the ability to perform our tests or experience disruptions to our business.
  • If we are not successful in integrating the assets acquired from NanoString or if our general strategy of seeking growth through such acquisitions and collaborations is not successful, our prospects and financial condition will suffer.
  • If we are not successful in advancing our collaborations with Johnson & Johnson and others, or if our general strategy of seeking growth through such collaborations is not successful, our prospects and financial condition will suffer.
  • We rely on sole suppliers for some of the reagents, equipment, chips and other materials used to perform our tests, and we may not be able to find replacements or transition to alternative suppliers.
  • We depend on a specialized cytopathology practice to perform the cytopathology component of our Afirma test, and our ability to perform our diagnostic solution would be harmed if we were required to secure a replacement.
  • Due to how we recognize revenue, our quarterly operating results are likely to fluctuate.
  • We may be unable to manage our future growth effectively, which could make it difficult to execute our business strategy.
  • If we are unable to support demand for our commercial tests, our business could suffer.
  • Changes in healthcare policy, including legislation reforming the U.S. healthcare system, may have a material adverse effect on our financial condition and operations.
  • Because of Medicare billing rules, we may not receive reimbursement for all tests provided to Medicare patients.
  • If the FDA were to begin regulating those of our tests that are not currently regulated, we could incur substantial costs and delays associated with trying to obtain premarket clearance or approval.
  • Obtaining marketing authorization by the FDA and foreign regulatory authorities for our diagnostic tests will take significant time and require significant research, development and clinical study expenditures and ultimately may not succeed.
  • If we are unable to obtain marketing authorizations to market Prosigna in additional countries or if regulatory limitations are placed on our diagnostic kit products, our business and growth will be harmed.
  • We are subject to ongoing and extensive regulatory requirements, and our failure to comply with these requirements could substantially harm our business.
  • If we are unable to compete successfully, we may be unable to increase or sustain our revenue or achieve profitability.
  • The loss of members of our senior management team or our inability to attract and retain key personnel could adversely affect our business.
  • Billing for our diagnostic tests is complex, and we must dedicate substantial time and resources to the billing process to be paid.
  • We rely on a third-party provider to transmit claims to payers, and any delay in transmitting claims could have an adverse effect on our revenue.
  • If our internal sales force is less successful than anticipated, our business expansion plans could suffer and our ability to generate revenues could be diminished. In addition, we have limited history selling our molecular diagnostics tests on a direct basis and our limited history makes forecasting difficult.
  • Developing new products involves a lengthy and complex process, and we may not be able to commercialize on a timely basis, or at all, other products we are developing.
  • If we cannot enter into new clinical study collaborations, our product development and subsequent commercialization could be delayed.
  • If we are unable to develop products to keep pace with rapid technological, medical and scientific change, our operating results and competitive position could be harmed.
  • Our Loan and Security Agreement provides our lenders with a first-priority lien against substantially all of our assets, excluding our intellectual property, and contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition.
  • Complying with numerous statutes and regulations pertaining to our business is an expensive and time-consuming process, and any failure to comply could result in substantial penalties.
  • If we use hazardous materials in a manner that causes contamination or injury, we could be liable for resulting damages.
  • Our reliance on distributors for sales of our products outside of the United States, and on clinical laboratories for delivery of Prosigna testing services, could limit or prevent us from selling our products and impact our revenue.
  • If we are sued for product liability or errors and omissions liability, we could face substantial liabilities that exceed our resources.
  • If a catastrophe strikes either of our laboratories or if either of our laboratories becomes inoperable for any other reason, we will be unable to perform our testing services and our business will be harmed.
  • Our inability to raise additional capital on acceptable terms in the future may limit our ability to develop and commercialize new solutions and technologies and expand our operations.
  • Security breaches, loss of data and other disruptions to us or our third-party service providers could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • If we cannot license rights to use technologies on reasonable terms, we may not be able to commercialize new products in the future.
  • If we are unable to protect our intellectual property effectively, our business would be harmed.
  • We may be involved in litigation related to intellectual property, which could be time-intensive and costly and may adversely affect our business, operating results or financial condition.
  • Our ability to use our net operating loss carryforwards may be limited and may result in increased future tax liability to us.
  • If our goodwill or intangible assets become impaired, we may be required to record a significant charge to earnings.
  • We will continue to incur increased costs and demands on management as a result of compliance with laws and regulations applicable to public companies, which could harm our operating results.
  • If we are unable to implement and maintain effective internal control over financial reporting, investors may lose confidence in the accuracy and completeness of our reported financial information and the market price of our common stock may be negatively affected.
  • Our stock price may be volatile, and you may not be able to sell shares of our common stock at or above the price you paid.
  • If securities or industry analysts issue an adverse opinion regarding our stock or do not publish research or reports about our company, our stock price and trading volume could decline.
  • Anti-takeover provisions in our charter documents and under Delaware law could discourage, delay or prevent a change in control and may affect the trading price of our common stock.
  • We have never paid dividends on our capital stock, and we do not anticipate paying dividends in the foreseeable future.
Management Discussion
  • •Total Testing and Product Revenue was $30.4 million, an increase of 20%; including biopharmaceutical revenue, total revenue was $31.1 million, an increase of 5%;
  • •Gross Margin was 61%, which included a $1.1 million write-down of supplies;
  • •Operating Expenses, Excluding Cost of Revenue, were $31.1 million, an increase of 35%;
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
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