VCYT VERACYTE, INC.

Overview and Growth

Fiscal 2025 results for VERACYTE, INC. combined $517.14M of revenue with net income of $66.35M and an operating cash inflow of $136.31M. At $517.14M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $445.76M in fiscal 2024, revenue recorded a 16.0% year-over-year increase. The company reported diluted EPS of $0.82, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 164.5% increase from fiscal 2024 diluted EPS of $0.31. Asset turnover was 0.37x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $362.53M as gross profit before recognizing operating expenses and other items. Gross margin was 70.1%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $57.78M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 11.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $66.35M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 12.8% margin after operating costs and the remaining recognized items. The earnings statement records $68.20M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 13.2% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $1.85M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 2.7%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 5.1%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 4.7%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $1.41B, supported by $96.44M of liabilities and $1.31B of shareholder equity. The near-term balance sheet paired $488.38M of current assets with $59.94M of current liabilities at the reporting date. At 8.15x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $362.58M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 604.9%, excluding receivables and other current assets. The liabilities-to-assets relationship was 6.9%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 25.8% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 8.2% from $1.30B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $136.31M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 2.05x, showing the relationship between accrual earnings and operating cash. Capital spending was $9.68M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 7.1%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $126.63M of positive free cash flow for the period. Free cash flow represented 24.5% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 9.0%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.