Veracyte (VCYT) Reports Narrower Q1 Loss, Raises '24 Sales View

Zacks05-08

Veracyte VCYT delivered a diluted loss of 2 cents per share in the first quarter of 2024 compared with a loss of 11 cents per share in the year-ago period. The reported figure is also narrower than ...

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The reported figure is also narrower than ...</p>\n\n<a href=\"https://finance.yahoo.com/news/veracyte-vcyt-reports-narrower-q1-125500875.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Veracyte (VCYT) Reports Narrower Q1 Loss, Raises '24 Sales View</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVeracyte (VCYT) Reports Narrower Q1 Loss, Raises '24 Sales View\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-08 20:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/veracyte-vcyt-reports-narrower-q1-125500875.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Veracyte VCYT delivered a diluted loss of 2 cents per share in the first quarter of 2024 compared with a loss of 11 cents per share in the year-ago period. The reported figure is also narrower than ...</p>\n\n<a href=\"https://finance.yahoo.com/news/veracyte-vcyt-reports-narrower-q1-125500875.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RMD","symbol_name":"瑞思迈","start_time":0,"source_url":"https://finance.yahoo.com/news/veracyte-vcyt-reports-narrower-q1-125500875.html","article_id":"2433722555","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Z9cpClmJQHpcjlETszUEbA--~B/aD00NjU7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/0e6e00119767dea571e2db52c929df03"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433722555","pubTimestamp":1715172900,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"VeracyteVCYT delivered a diluted loss of 2 cents per share in the first quarter of 2024 compared with a loss of 11 cents per share in the year-ago period. The reported figure is also narrower than the Zacks Consensus Estimate of a loss of 19 cents per share.Revenues reported in the first quarter increased 17.5% year over year to $96.8 million. The metric exceeded the Zacks Consensus Estimate by 3.3%.Testing revenueswere $90.3 million in the reported quarter, up 24.7% year over year. This rise was mainly due to Decipher and Affirma volumes, along with ASP  growth, driven by payer contracting and prior period collection.Product revenuesfell 9.1% year over year to $3.5 million.Selling and marketing expenses fell 9% to 23.8 million, while general and administrative expenses increased 24.5% to $26 million. R&D expenses totaled $16 million, up 25% year over year. The company delivered an operating loss of $0.57 million in the first quarter compared to an operating loss of $3.8 million during","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"RMD":"瑞思迈","EHC":"Encompass Health Corporation","VCYT":"Veracyte Inc","RMD.AU":"Resmed DRC"},"translate_title":"Veracyte报告Q1亏损收窄，提高24年销售预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VCYT":1,"EHC":0.9,"RMD":0.9,"RMD.AU":0.9},"content_text":"Veracyte VCYT delivered a diluted loss of 2 cents per share in the first quarter of 2024 compared with a loss of 11 cents per share in the year-ago period. The reported figure is also narrower than the Zacks Consensus Estimate of a loss of 19 cents per share.\nRevenues\nRevenues reported in the first quarter increased 17.5% year over year to $96.8 million. The metric exceeded the Zacks Consensus Estimate by 3.3%.\nQuarterly Details\nTesting revenues were $90.3 million in the reported quarter, up 24.7% year over year. This rise was mainly due to Decipher and Affirma volumes, along with ASP (Average Selling Price) growth, driven by payer contracting and prior period collection.\nProduct revenues fell 9.1% year over year to $3.5 million.\n\nVeracyte, Inc. Price, Consensus and EPS Surprise\n\nVeracyte, Inc. price-consensus-eps-surprise-chart | Veracyte, Inc. Quote\n\nBiopharmaceutical and other revenues of $3.0 million reflected a 51% decrease compared to last year’s figure. This was mainly affected by the overall spending constraints across the industry.\nMargins\nThe total cost of revenues (product, testing, biopharmaceutical and other) during the reported quarter was $31.5 million, up 20% year over year.\nThe gross profit rose 16.4% to $65.4 million. The gross margin contracted 66 basis points (bps) to 67.5% in the first quarter.\nSelling and marketing expenses fell 9% to 23.8 million, while general and administrative expenses increased 24.5% to $26 million. R&D expenses totaled $16 million, up 25% year over year. The company delivered an operating loss of $0.57 million in the first quarter compared to an operating loss of $3.8 million during last year’s comparable period.\nCash, Capital Structure and Solvency\nVeracyte exited the first quarter with cash and cash equivalents of $209.2 million compared with $216.5 million at the end of 2023. The cumulative net cash outflow from operating activities at the first quarter-end was $9 million compared with cash outflow of $2.2 million at the end of the first quarter of 2023.\nGuidance\nVertacyte provided a revised financial outlook for 2024.\nRevenues for 2024 are expected between $402 million and $410 million (earlier $394 million and $402 million). The Zacks Consensus Estimate presently stands at $399.1 million.\nOur Take\nVeracyte reported a lower-than-expected loss, with revenues surpassing estimates in the first quarter of 2024. The company had a strong start to 2024, driven by robust growth from its market-leading Decipher Prostate and Afirma tests. With Decipher Prostrate, Veracyte delivered a new quarterly volume record, with growth coming from both new and existing providers. The company expanded its minimal residual disease (MRD) testing capabilities during the quarter by completing the acquisition of C2i Genomics and initiated the development of the first MRD test using the novel, whole-genome approach.\nMeanwhile, the decrease in product revenues was mainly due to the lower demand for Prosigna, which was affected by the supplier issues seen previously. The Biopharma business continued to be impacted by industry-wide spending constraints.\nZacks Rank and Key Picks\nVeracyte currently carries a Zacks Rank #3 (Hold).\nSome better-ranked stocks from the broader medical space are Medpace MEDP, ResMed RMD and Encompass Health Corporation EHC.\nMedpace, sporting a Zacks Rank #1 (Strong Buy), reported a first-quarter 2024 EPS of $3.20, which beat the Zacks Consensus Estimate by 30.6%. Revenues of $511 million improved 17.7% from last year’s comparable figure. You can see the complete list of today’s Zacks #1 Rank stocks here.\nMedpace has an estimated 2024 earnings growth rate of 26.5% compared with the industry’s 12.3%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 12.8%.\nResMed, sporting a Zacks Rank #1, reported a first-quarter 2024 EPS of $2.13, which topped the Zacks Consensus Estimate by 10.9%. Revenues of $1.20 billion surpassed the Zacks Consensus Estimate by 1.9%.\nRMD has an estimated fiscal 2024 earnings growth rate of 17.9% compared to the industry’s 15.7%. In each of the trailing four quarters, the company delivered an average earnings surprise of 2.8%.\nEncompass Health, carrying a Zacks Rank #2 (Buy), reported a first-quarter 2024 adjusted EPS of $1.12, which surpassed the Zacks Consensus Estimate by 20.4%. Net operating revenues of $1.3 billion topped the Zacks Consensus Estimate by 3.6%.\nEHC has an estimated long-term earnings growth rate of 15.6% compared with the industry’s 11.7% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 18.7%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nResMed Inc. (RMD) : Free Stock Analysis Report\nVeracyte, Inc. (VCYT) : Free Stock Analysis Report\nMedpace Holdings, Inc. (MEDP) : Free Stock Analysis Report\nEncompass Health Corporation (EHC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433722555"}