Quarterly ResultMay 5, 2026, 04:14 PM
Veracyte Q1 Revenue +21% to $139.1M; Raises 2026 Guidance
AI Summary
Veracyte reported strong first-quarter 2026 financial results, with total revenue increasing 21% to $139.1 million and testing revenue growing 26% to $135.1 million. The company achieved GAAP net income of $28.7 million, a 307% improvement year-over-year, and adjusted EBITDA of $42.8 million. Driven by robust performance, particularly from Decipher and Afirma tests, Veracyte raised its full-year 2026 total revenue guidance to $582 million to $592 million and adjusted EBITDA margin to greater than 26%.
Key Highlights
- Total revenue increased 21% to $139.1 million in Q1 2026.
- Testing revenue grew 26% to $135.1 million, driven by Decipher (+30%) and Afirma (+21%).
- GAAP net income was $28.7 million, a 307% improvement from Q1 2025.
- Adjusted EBITDA rose 73% to $42.8 million, representing 30.8% of revenue.
- Generated $35.2 million in cash from operations, ending with $439.1 million in cash.
- Raised 2026 total revenue guidance to $582 million-$592 million (13%-14% growth).
- Increased 2026 adjusted EBITDA margin guidance to greater than 26%.
- Advanced evidence pipeline for Decipher with enrollment completed for GUIDANCE and G-MAJOR phase III trials.