On July 30, 2026 Veracyte, Inc. (Nasdaq: VCYT), a leading cancer diagnostics company, reported financial results for the second quarter ended June 30, 2026.

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"Q2 was a milestone quarter for Veracyte as we launched two new products, Prosigna LDT and TrueMRD for MIBC, while also delivering strong double-digit revenue growth, profitability and cash generation," said Marc Stapley, Veracyte’s chief executive officer. "These launches meaningfully expand our ability to serve more patients across the cancer care continuum and, combined with the strength of our core business, position us well to deliver durable double-digit growth."

Key Financial Highlights
For the three-month period ended June 30, 2026, as compared to the same period in 2025:
•Increased total revenue by 15% to $150.3 million and testing revenue by 19% to $145.7 million, driven by Decipher growth of 20% to $91.9 million and Afirma growth of 18% to $51.2 million.
•Increased total volume by 13% to 50,967 tests and testing volume by 14% to 48,389 tests, driven by Decipher growth of 17% to approximately 29,700 tests and Afirma growth of 10% to approximately 18,600 tests.
•Recorded GAAP net income of $25.5 million, or 17.0% of revenue, and delivered adjusted EBITDA of $44.0 million, or 29.2% of revenue.
•Generated $45.8 million of cash from operations to end the quarter with $485.2 million of cash, cash equivalents, and short-term investments as of June 30, 2026.
Key Business Highlights
•Launched the Prosigna Breast Test in the U.S. for patients diagnosed with early-stage hormone-receptor positive (HR+) breast cancer.
•Launched the TrueMRD Monitoring Test for patients with muscle-invasive bladder cancer (MIBC).
•Secured Medicare coverage for the TrueMRD Monitoring Test, representing the first Medicare coverage decision for the whole-genome sequencing-based TrueMRD platform.
•Further expanded the clinical evidence of our testing portfolio, including new predictive evidence from the OPTIMA trial supporting the clinical utility of Prosigna and the ENZAMET trial expanding the Decipher clinical evidence base. Together, Decipher and Afirma were featured in nearly 60 abstracts and presentations during the quarter.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Note Regarding Use of Non-GAAP Financial Measures."

Second Quarter 2026 Financial Results

Total revenue for the second quarter of 2026 was $150.3 million, an increase of 15% compared to $130.2 million reported in the second quarter of 2025. Testing revenue was $145.7 million, an increase of 19% compared to $122.3 million in the second quarter of 2025, driven by growth in our Decipher Prostate and Afirma tests. Product revenue was $3.9 million, an increase of 7% compared to $3.6 million in the second quarter of 2025. Biopharmaceutical and other revenue was $0.8 million, an expected decrease compared to $4.3 million in the second quarter of 2025 given the restructuring and liquidation proceedings of Veracyte SAS.

Total gross margin for the second quarter of 2026 was 72%, compared to 69% in the second quarter of 2025. Non-GAAP gross margin was 75%, compared to 72% in the second quarter of 2025.

Operating expenses were $85.6 million for the second quarter of 2026 compared to $95.0 million in the second quarter of 2025. Non-GAAP operating expenses grew 16% to $70.0 million compared to $60.3 million in the second quarter of 2025.

Net income for the second quarter of 2026 was $25.5 million, an increase of $26.5 million compared to the second quarter of 2025. Diluted net earnings per common share was $0.31, an improvement of $0.32 compared to the second quarter of 2025. Non-GAAP diluted net earnings per common share was $0.54, an increase of $0.10 compared to the second quarter of 2025. Net cash provided by operating activities in the first six months of 2026 was $81.0 million, an improvement of $42.1 million compared to the same period in 2025.

Adjusted EBITDA for the second quarter of 2026 was $44.0 million, an improvement of 23% compared to the second quarter of 2025, representing 29.2% of revenue compared to 27.5% of revenue in the same period in 2025.

2026 Financial Outlook

The company is raising 2026 total revenue guidance to $590 million to $596 million, or 14% to 15% growth, from prior guidance of $582 to $592 million, or 13% to 14% growth. The company is also raising testing revenue guidance to $576 million to $582 million, or 17% to 18% growth, from prior guidance of $570 million to $580 million, excluding the contribution from recently launched tests.

The company continues to expect adjusted EBITDA margin to be greater than 26%.

The company is unable to provide a quantitative reconciliation of expected adjusted EBITDA margin to expected GAAP net income margin, the most directly comparable forward-looking GAAP measure without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, that are dependent on various factors, are out of the company’s control, or that cannot be reasonably predicted. Such adjustments include, but are not limited to, acquisition-related expenses, and other adjustments. Any associated estimate of these items and their impact on GAAP performance for the guidance period could vary materially. For more information on the non-GAAP financial measures, please refer to the section titled "Note Regarding Use of Non-GAAP Financial Measures" at the end of this press release.

Conference Call and Webcast Details

Veracyte will host a conference call and webcast today at 4:30 p.m. Eastern Time to discuss the company’s financial results and provide a general business update. The conference call will be webcast live from the company’s website and will be available via the following link: View Source The webcast should be accessed 10 minutes prior to the conference call start time. A replay of the webcast will be available for one year following the conclusion of the live broadcast and will be accessible on the company’s website at View Source

(Press release, Veracyte, JUL 30, 2026, View Source [SID1234669541])