Veracyte, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Veracyte, Inc. has submitted its comprehensive 2023 annual report on Form 10-K, detailing its financial performance and business operations.</b>

AI Summary

VERACYTE, INC. (VCYT) filed a Annual Report (10-K) with the SEC on February 29, 2024. Veracyte, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 6000 Shoreline Court, Suite 300, South San Francisco, CA 94080. Veracyte, Inc. was formerly known as Calderome Inc. before a name change on December 19, 2006. The filing includes financial data and disclosures relevant to the 1934 Act.

Why It Matters

For investors and stakeholders tracking VERACYTE, INC., this filing contains several important signals. This 10-K filing provides investors with a detailed overview of Veracyte's financial health, operational strategies, and risk factors for the fiscal year 2023. Understanding the information within this report is crucial for assessing the company's current standing and future prospects in the medical diagnostics market.

Risk Assessment

Risk Level: medium — VERACYTE, INC. shows moderate risk based on this filing. The company's financial performance and future growth are subject to market dynamics and regulatory changes inherent in the healthcare and diagnostics industry, as detailed in its 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in Veracyte's 10-K filing to understand its performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (As of date)
• 0001384101 — Central Index Key (Filer's identifier)
• 001-36156 — SEC File Number (SEC registration number)

Key Players & Entities

• VERACYTE, INC. (company) — Filer name
• 2023 (date) — Fiscal year end
• 2024-02-29 (date) — Filing date
• 6000 SHORELINE COURT, SUITE 300 (address) — Business address
• SOUTH SAN FRANCISCO (location) — Business address city
• CA (location) — Business address state
• 94080 (postal_code) — Business address zip
• CALDEROME INC (company) — Former company name

FAQ

Industry Context

Veracyte operates in the medical laboratories sector, providing diagnostic tests and services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

1. Analyze Veracyte's revenue streams and growth segments for FY2023.
2. Review the company's balance sheet and cash flow statements for financial health indicators.
3. Examine any disclosed risk factors to understand potential business challenges.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. Previous filings would need to be compared for year-over-year changes.

Key Financial Figures

• $0.001 — h registered Common Stock, par value, $0.001 per share VCYT The Nasdaq Stock Marke

Filing Documents

• vcyt-20231231.htm (10-K) — 2050KB
• vcyt-12312023xex42.htm (EX-4.2) — 25KB
• vcyt-12312023xex1023johnle.htm (EX-10.23) — 11KB
• vcyt-12312023xex1024ccocli.htm (EX-10.24) — 157KB
• vcyt-12312023xexx1025philf.htm (EX-10.25) — 32KB
• vcyt-1231x2023xexx1026cmo_.htm (EX-10.26) — 177KB
• vcyt-12312023xex10272019st.htm (EX-10.27) — 277KB
• vcyt-12312023xex1028c2igen.htm (EX-10.28) — 101KB
• vcyt-12x31x2023xex1029form.htm (EX-10.29) — 25KB
• vcyt-12312023xex211.htm (EX-21.1) — 6KB
• vcyt-12312023xex231.htm (EX-23.1) — 4KB
• vcyt-12312023xex311.htm (EX-31.1) — 17KB
• vcyt-12312023xex312.htm (EX-31.2) — 17KB
• vcyt-12312023xex321.htm (EX-32.1) — 7KB
• vcyt-12312023xex322.htm (EX-32.2) — 7KB
• ex-971xxveracyteclawbackpo.htm (EX-97.1) — 62KB
• image_0.jpg (GRAPHIC) — 8KB
• image_01.jpg (GRAPHIC) — 7KB
• vcyt-20231231_g1.jpg (GRAPHIC) — 129KB
• 0001384101-24-000017.txt (&nbsp;) — 10043KB
• vcyt-20231231.xsd (EX-101.SCH) — 52KB
• vcyt-20231231_cal.xml (EX-101.CAL) — 104KB
• vcyt-20231231_def.xml (EX-101.DEF) — 259KB
• vcyt-20231231_lab.xml (EX-101.LAB) — 741KB
• vcyt-20231231_pre.xml (EX-101.PRE) — 468KB
• vcyt-20231231_htm.xml (XML) — 1127KB

Risk Factors

Item 1A. Risk Factors 22

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 61

Cybersecurity

Item 1C. Cybersecurity 61

Properties

Item 2. Properties 63

Legal Proceedings

Item 3. Legal Proceedings 63

Mine Safety Disclosure

Item 4. Mine Safety Disclosure 63 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 63

[Reserved]

Item 6. [Reserved] 64

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 65

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 80

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 81

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 113

Controls and Procedures

Item 9A. Controls and Procedures 113

Other Information

Item 9B. Other Information 115

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 115 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 115

Executive Compensation

Item 11. Executive Compensation 115

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 115

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 115

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 115 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 116

Form 10-K Summary

Item 16. Form 10-K Summary 120

SIGNATURES

SIGNATURES 120 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this report, the words "expects," "anticipates," "intends," "estimates," "plans," "believes," "continuing," "ongoing," and similar expressions are intended to identify forward-looking statements. These are statements that relate to future events and include, but are not limited to, the factors that may impact our financial results; our expectations regarding revenue; our expectations with respect to our future research and development, general and administrative and selling and marketing expenses and our anticipated uses of our funds; the impact of inflation, rising interest rates and foreign exchange fluctuations, as well as regional conflicts globally, energy and supply chain disruptions, and market volatility resulting from the above, on our business; changes in our executive officers; our beliefs with respect to the optimization of our processes for the analysis of ribonucleic acid, or RNA, samples; our ability to successfully integrate C2i Genomics, Inc., or C2i, HalioDx and Decipher Biosciences into our business; our ability to deploy the nCounter Analysis System successfully and run our tests on this platform worldwide; our belief in the importance of maintaining libraries of clinical evidence; our expectations regarding the Percepta Nasal Swab classifier for early lung cancer detection, the Envisia classifier on the nCounter system and the LymphMark lymphoma subtyping test; our expectations regarding the addition of minimal residue detection capabilities to our diagnostics platform; our expectations regarding our diagnostic company partnerships; our expectations regarding capital expenditures; our anticipated cash needs and our estimates regarding our capital requirements; the timing and success of our transition to offering more of our tests as in vitro diagnostic tests on multiple platforms worldwide; o

View Full Filing

View this 10-K filing on SEC EDGAR