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Veracyte, Inc. is a global diagnostics company focused on transforming cancer care for patients worldwide. The company empowers clinicians by providing high-value insights to guide and reassure patients during critical moments in diagnosing and treating cancer. Veracyte sells genomic tests and products designed to diagnose and treat diseases, primarily cancer, both in the United States and internationally.
- Testing Revenue - Provides diagnostic testing services, including Decipher and Afirma, which are central to the company's operations.
- Product Revenue - Offers product test kits that complement the diagnostic services.
- Biopharmaceutical and Other Revenue - Engages in collaborations and provides genomic insights to support drug development and other clinical applications.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Marc Stapley ExecutiveBoard | Chief Executive Officer | Board Member at Glaukos Corporation ; Board Member at Helix OpCo, LLC | Marc Stapley has served as the Chief Executive Officer of Veracyte since June 1, 2021 and as a member of the Board of Directors since June 8, 2021. Previously, he held executive roles at Helix OpCo and Illumina, showcasing his broad expertise in the life sciences sector. | View Report → |
Annie McGuire Executive | General Counsel and Chief People Officer | Annie McGuire has served as General Counsel at VCYT since February 2022 and assumed the additional role of Chief People Officer in January 2023, reflecting her extensive leadership in legal and human resources functions. | ||
John Leite Executive | Chief Commercial Officer, CLIA | John Leite, Ph.D. is the Chief Commercial Officer, CLIA at VCYT since September 1, 2023. He previously served as Senior Vice President, General Manager, Pulmonology & Market Access at VCYT from September 2022, and held executive roles at InterVenn Biosciences, Illumina, Inc., and Genoptix Medical Laboratories. | ||
Phillip Febbo Executive | Chief Scientific Officer and Chief Medical Officer | Board member, Regan Udall Foundation for the FDA | Phillip Febbo joined VCYT as Chief Scientific Officer and Chief Medical Officer on October 2, 2023, where he leads the global team across research, medical, and clinical affairs focused on advancing diagnostic tests in cancer. Previously, he held key executive roles as Chief Medical Officer at Illumina and Genomic Health. | |
Rebecca Chambers Executive | Chief Financial Officer (CFO) | Board member at Inari Medical, Inc. | Rebecca Chambers has served as the Chief Financial Officer (CFO) of Veracyte, Inc. since July 2021. In addition to leading the CLIA Operations team at Veracyte, she also sits on the board of Inari Medical, Inc.. | |
Brent Shafer Board | Director | Brent Shafer serves as a Director at Veracyte, Inc. since September 3, 2024 and also serves on the Compensation Committee of the Board. | ||
Eliav Barr Board | Director | Eliav Barr, M.D., has served as a Director on VCYT's Board of Directors since August 2022. He brings extensive industry experience from his previous leadership roles at Merck Research Laboratories, including Head of Global Clinical Development and Chief Medical Officer. | ||
Evan Jones Board | Director | Managing Member at jVen Capital, LLC | Evan Jones has served as a Director at VCYT since February 2008 and actively participates in the Audit, Nominating and Corporate Governance, and Regulatory and Compliance committees. He brings extensive experience from the life sciences industry, including his role as Managing Member at jVen Capital, LLC and previous executive positions at OpGen and Digene. | |
Jens Holstein Board | Director | CFO of BioNTech SE | Jens Holstein has been a Director at VCYT since August 2020 where he also serves as Chair of the Audit Committee. He has extensive financial leadership experience, having served as CFO of BioNTech SE since July 2021. | |
Karin Eastham Board | Director | Director at Personalis, Inc.; Chair of the Board at Personalis, Inc.; Director at Nektar Therapeutics; Director at Geron Corporation | Karin Eastham has served as a Director on Veracyte's Board since December 2012. She also chairs the Compensation Committee and is a member of the Audit Committee, bringing extensive experience from her roles in the life sciences industry. | |
Muna Bhanji Board | Director | Founder and President, TIBA Global Access LLC; Intellia Therapeutics, Inc.; Cytokinetics, Inc.; Ardelyx, Inc.; Corus International (International NGO) | Muna Bhanji is currently a Director at VCYT since March 2021, and she has extensive experience in the biopharmaceutical industry, having held senior leadership roles at Merck & Co., Inc.. | |
Robert S. Epstein Board | Chairperson of the Board of Directors | Board Member at Fate Therapeutics, Inc. ; Board Member at Illumina, Inc. ; Strategic Consultant in life sciences | Robert S. Epstein has served as Chairperson of the Board of Directors at Veracyte since January 2015. He brings extensive experience from previous roles in healthcare leadership at Medco Health Solutions and as a strategic consultant since 2013. | |
Tom Miller Board | Director | Tom Miller, Ph.D., was appointed as a Director at Veracyte, Inc. on September 3, 2024, and also serves on the Regulatory and Compliance Committee of the Board. Detailed prior career history is not provided in the documents. |
- Given your limited commercial headcount increases, can you elaborate on how you strategically allocate resources between Decipher and Afirma while evaluating future investments in digital pathology initiatives? What specific shifts in headcount or focus do you anticipate over the coming year?
- With 2024 delivering strong results despite market headwinds, how will you balance further investments in growth drivers like MRD testing and metastatic expansion with your commitment to margin improvement and disciplined capital deployment? What specific levers do you plan to pull to achieve this dual objective?
- The guidance for Decipher growth appears highly dependent on volume expansion and prior one-time payer collections; how do you plan to sustain growth absent significant ASP tailwinds, and what risks do you see in maintaining this trajectory?
- In light of your recent MRD technical assessment submission to MolDx and potential federal agency impacts, can you provide more detailed guidance on expected reimbursement timelines and the contingency plans if delays occur? How might such delays affect your overall growth outlook for 2025?
- With the challenges surrounding the French entity and the potential impact on biopharma revenue and Prosigna supply, what specific measures are in place to ensure continuity for Prosigna customers and to safeguard your broader IVD strategy in international markets?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the thyroid cancer diagnostics space using next-generation sequencing technology or other methods to measure mutational markers such as BRAF and KRAS, along with numerous other mutations. | |
ThyroSeq (marketed by Sonic Healthcare Limited) | Offers solutions in the thyroid cancer diagnostics market, utilizing next-generation sequencing technology or other methods to measure mutational markers. |
Provides genomic testing for prognostic purposes within localized prostate cancer and competes in the breast cancer diagnostics market. | |
MDxHealth, SA | Offers genomic testing for prognostic purposes within localized prostate cancer. |
ArteraAI | Develops solutions combining traditional pathology methods and AI-powered image analysis, potentially emerging as competitors in prostate cancer diagnostics. |
Primary competitor in minimal residual disease (MRD) testing for muscle-invasive bladder cancer (MIBC) and other indications. | |
Competes in the MRD space and informs treatment decisions. | |
Operates in the MRD space and informs treatment decisions. | |
Competes in the MRD space and informs treatment decisions. | |
Principal competitor in the breast cancer diagnostics market and operates in the MRD space. | |
Agendia, Inc. | Competes in the breast cancer diagnostics market. |
Expected to compete in the lung cancer diagnostics market, particularly with the Percepta Nasal Swab test. | |
Commercial laboratory with strong infrastructure to support the commercialization of diagnostic services. | |
Commercial laboratory with strong infrastructure to support the commercialization of diagnostic services. | |
Sonic Healthcare USA | Commercial laboratory with strong infrastructure to support the commercialization of diagnostic services. |
Entered the clinical diagnostics market and poses potential competition. | |
Roche Diagnostics | Develops diagnostic products and competes in the clinical diagnostics market. |
Siemens AG | Develops diagnostic products and competes in the clinical diagnostics market. |
Develops diagnostic products and competes in the clinical diagnostics market. | |
TempusAI, Inc. | Competes in the MRD space and informs treatment decisions. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Medicare | Third-party payer | All | 31% of 2024 revenue (~$138.19M = 31% of $445.76M ) and 16% of 2024 accounts receivable (~$7.44M = 16% of $46.53M ) |
UnitedHealthcare | Third-party payer | All | 13% of 2024 revenue (~$57.95M = 13% of $445.76M ) and 12% of 2024 accounts receivable (~$5.58M = 12% of $46.53M ) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
C2i Genomics, Inc. | 2024 | Completed on Feb 5, 2024, Veracyte acquired C2i Genomics for $70 million with a payment structure that included cash, escrow deposits (e.g., $8 million into escrow, $0.2 million with a securityholder’s agent), and up to 2,698,349 shares of common stock; the deal also incorporates up to $25 million in performance-based milestone payments, aimed at bolstering MRD capabilities within Veracyte’s diagnostics platform. |
HalioDx SAS | 2021 | Completed on August 2, 2021, Veracyte acquired HalioDx for a total consideration of €260 million (approximately €147 million in cash and €113 million in common stock), with terms subject to customary adjustments; the acquisition strategically supports the development and manufacturing of test kits for the nCounter platform, enhances immuno-oncology capabilities, and expands Veracyte’s diagnostic menu globally. |
Decipher Biosciences | 2021 | Completed on March 12, 2021, this deal involved acquiring 100% of Decipher Biosciences for approximately $594.7 million (or around $600 million with customary adjustments), with a combination of upfront cash and post-closing payments, and included transaction expenses and certain nonrecurring compensation expenses; strategically, the acquisition expanded Veracyte’s genomic cancer diagnostics into multiple cancer types and added a CAP-accredited, CLIA-certified laboratory facility in San Diego. |
Recent press releases and 8-K filings for VCYT.
- FY 2025 guidance includes expected testing revenue of $470–480M with 12–15% YOY growth, underscoring strong topline momentum and improved adjusted EBITDA margins compared to FY 2024.
- The company emphasized its market leadership with core products Decipher and Afirma, and highlighted initiatives such as the Nasal Swab test and NIGHTINGALE trial to further expand its diagnostics portfolio.
- Future strategic drivers focus on deepening market penetration and launching new platform products, positioning the firm for enhanced profitability and sustained growth beyond FY 2025.
- Record Q4 & FY 2024 Performance: Revenue reached approximately $119M in Q4 (21% YoY growth) with full-year revenue of $446M, marking a record year for the company .
- Robust Testing Revenue & Decipher Growth: Q4 testing revenue was about $112M with Decipher executing over 22,400 tests in Q4 and 80,000+ tests in FY 2024, showcasing strong market adoption .
- Turnaround in Profitability: FY 2024 GAAP net income improved to $24M after a loss of ($74M) in FY 2023 .
- Improved EBITDA Margins: Adjusted EBITDA margin rose to 20.6% in FY 2024 from 12.6% in FY 2023, reflecting effective operational execution .
- Strong Cash Generation: Q4 operating cash flow reached $24.5M with full-year operating cash flow of $75.1M .
- Positive 2025 Guidance & Strategic Initiatives: The company forecasts Q1 testing revenue of $470–$480M with margin expansion (approx. 100bps) while advancing Decipher, Afirma, MRD, and NIGHTINGALE studies .