VERACYTE Files 8-K on Operations & Financial Condition

TL;DR

**Veracyte just dropped an 8-K on its financials, keep an eye out for details.**

AI Summary

Veracyte, Inc. filed an 8-K on January 8, 2024, to report on its results of operations and financial condition, as well as to make a Regulation FD disclosure. This filing indicates that the company is providing an update on its financial performance, which is crucial for investors to understand the company's current health and future prospects. For shareholders, this matters because it offers transparency into the company's recent financial activities, potentially influencing stock valuation and investment decisions.

Why It Matters

This filing provides an update on Veracyte's financial health, which is essential for investors to assess the company's performance and make informed decisions about buying, holding, or selling its stock.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial condition and operations, not indicating any immediate high-risk events.

Analyst Insight

Investors should look for the full details of the 'Results of Operations and Financial Condition' mentioned in this 8-K, likely in a subsequent earnings release or investor presentation, to fully understand Veracyte's current financial standing.

Key Numbers

• 001-36156 — Commission File Number (Identifies Veracyte's registration with the SEC.)
• 2024-01-08 — Date of Report (Indicates when the earliest event reported in the filing occurred.)
• (650) 243-6300 — Business Phone Number (Contact information for Veracyte, Inc.)

Key Players & Entities

• VERACYTE, INC. (company) — the registrant filing the 8-K
• January 8, 2024 (date) — date of earliest event reported
• 001-36156 (number) — Commission File Number for Veracyte, Inc.
• VCYT (company) — trading symbol for Veracyte, Inc. Common Stock
• The Nasdaq Stock Market LLC (company) — exchange where Veracyte's Common Stock is registered

Forward-Looking Statements

• Veracyte will provide more detailed financial results in an upcoming earnings report. (VERACYTE, INC.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share VCYT The Nasdaq Stock Mar
• $95.0 million — t it generated total revenue of between $95.0 million and $96.0 million, and that its total t
• $96.0 m — al revenue of between $95.0 million and $96.0 million, and that its total test volume w
• $358.0 million — ects to report total revenue of between $358.0 million and $359.0 million and total test volum
• $359.0 million — l revenue of between $358.0 million and $359.0 million and total test volume of approximately
• $215.0 million — d short-term investments were more than $215.0 million as of December 31, 2023. Veracyte's a

Filing Documents

• d543036d8k.htm (8-K) — 33KB
• d543036dex991.htm (EX-99.1) — 19KB
• g543036g0106112544076.jpg (GRAPHIC) — 3KB
• 0001193125-24-003949.txt ( ) — 185KB
• vcyt-20240108.xsd (EX-101.SCH) — 3KB
• vcyt-20240108_lab.xml (EX-101.LAB) — 18KB
• vcyt-20240108_pre.xml (EX-101.PRE) — 11KB
• d543036d8k_htm.xml (XML) — 3KB

02

Item 2.02. Results of Operations and Financial Condition. On January 8, 2024, Veracyte, Inc., a Delaware corporation ("Veracyte"), issued a press release furnished as Exhibit 99.1 to this Current Report on Form 8-K (the "Press Release") that, among other things, announced certain preliminary financial and operating results for the fourth quarter and year ended December 31, 2023, including that Veracyte expects to report that it generated total revenue of between $95.0 million and $96.0 million, and that its total test volume was approximately 34,000 tests, in each case for the fourth quarter of 2023. Veracyte also expects to report total revenue of between $358.0 million and $359.0 million and total test volume of approximately 127,000 tests for the full year ended December 31, 2023. In addition, Veracyte expects to report that cash, cash equivalents and short-term investments were more than $215.0 million as of December 31, 2023. Veracyte's audited financial statements for the year ended December 31, 2023 are not yet available. Accordingly, Veracyte's preliminary revenue and cash information in the Press Release and described herein are estimates and subject to the completion of Veracyte's financial closing procedures and any adjustments that may result from the completion of the audit of Veracyte's financial statements. The preliminary revenue and cash information in the Press Release and described herein may differ materially from the actual results that will be reflected in Veracyte's audited financial statements when they are completed and publicly disclosed.

01

Item 7.01. Regulation FD. In the Press Release, also on January 8, 2024, Veracyte reported the execution of an agreement and plan of merger with C2i Genomics, Inc. ("C2i"). The Press Release is incorporated herein by reference. On January 8, 2024, Veracyte posted supplemental investor materials on the Investors Relations section of its website, available at https://investor.veracyte.com/. The information furnished with this report, including the information included in Items 2.02 and 7.01, as well as Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K, including the Press Release, contains "forward-looking" statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act which involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements related to Veracyte's plans, objectives and expectations (financial and otherwise), including with respect to 2023 and 2024 financial and operating results; Veracyte's anticipated acquisition of C2i; statements regarding the expected benefits of the acquisition, including but not limited to Veracyte's expectation that adding whole-genome minimal residual disease capabilities to its unique diagnostics platform will position Veracyte to serve physicians and their patients further along the care continuum, that Veracyte believes this C2i's technology will enable it to measure a tumor's progression as it evolves from early diagnosis through patient treatment and follow-ups; and Veracyte's intentions with respect to its tests and products, for use in diagnosing and treating diseases, in and outside of the United States. Forward-looking statements can be identified by the use of terminology such as "appears," "anticipate," "intend," "plan," "expect," "believe," "should," "may," "will," "enable," "positioned," "offers," "designed" and similar references to future periods. Actual results may differ materially from those projected or suggested in any forward-looking statements. These statements involve risks and uncertainties, which could cause actual results to differ materially from Veracyte's predictions, and include, but are not limited to: Veracyte's ability to launch, commercialize and receive reimbursement for its products; the ability of the parties to complete the acquisition of C2i on a timely basis or at all, including the required satisfaction or waiver of the closing conditions; Veracyte's and C2i's ability to execute on its busine

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Title or Description 99.1 Press Release issued by Veracyte, dated January 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 8, 2024 VERACYTE, INC. By: /s/ Rebecca Chambers Name: Rebecca Chambers Title: Chief Financial Officer Principal Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR