Veracyte Posts Strong Fourth Quarter, Unveils 2025 Projections

Published 7 hours agoVCYT

Veracyte Posts Strong Fourth Quarter, Unveils 2025 Projections

Veracyte, Inc. has reported impressive financial results for the fourth quarter and the full year of 2024. Notably, the company's revenue surged 21% in the fourth quarter to $118.6 million, driven by a 24% rise in testing revenue reaching $112.2 million. Among the standouts, the Decipher test revenue soared by 44%, while the Afirma test revenue saw a modest 4% increase. Adjusted EBITDA came in at $26.1 million, or 22% of revenue.

For the entire 2024, Veracyte recorded a total revenue increase of 23%, amounting to $445.8 million. Testing revenue for the year jumped by 28% to $419.0 million, with Decipher test revenue climbing 43% and Afirma test revenue increasing by 14%. The company's adjusted EBITDA totaled $91.9 million, representing 20.6% of its revenue. These figures have been highlighted in Veracyte's recent release, as reported by investor.veracyte.com.

Looking ahead to 2025, Veracyte projects testing revenue of $470 million to $480 million, reflecting a growth forecast of 12% to 15%, adjusting for the paused Envisia test. The company also anticipates an adjusted EBITDA margin of approximately 21.6% of revenue. In terms of strategy, Veracyte plans to expand its Decipher test into the metastatic prostate cancer market in the first half of 2025. Furthermore, the Afirma test will continue to target growth by increasing penetration in existing accounts and acquiring new customers, as noted by ng.investing.com. These initiatives highlight Veracyte's focus on enhancing its diagnostic offerings and fostering sustained growth.

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