Veracyte (VCYT) FY2019 results: revenue $120 million, up 30.8% on the year
Veracyte, Inc. (VCYT) reported revenue of $120 million for fiscal 2019, the year ended 31 December 2019, up 30.8% on the year before. Net income was -$13 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$120 million
+30.8% on the year
FY2012FY2019
Operating margin
-12.6%
-24.2% a year earlier
FY2012FY2019
Net income
-$13 million
FY2012FY2019
Diluted EPS
-$0.27
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
120
92.0
72.0
+30.8%
Cost of revenue
36.1
33.1
28.2
+9.1%
Gross profit
84.3
58.9
43.8
+43.0%
Gross margin
70.0%
64.0%
60.8%
Research and development
14.9
14.8
13.9
+0.2%
Operating income
-15.1
-22.2
-26.5
Operating margin
-12.6%
-24.2%
-36.9%
Interest expense
0.7
2.0
4.9
-65.5%
Pre-tax income
-12.6
-23.0
-31.0
Income tax
0.0
0.0
0.0
Net income
-12.6
-23.0
-31.0
Net margin
-10.5%
-25.0%
-43.1%
Diluted EPS
-$0.27
-$0.62
-$0.91
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-3.2
-13.5
-23.9
Capital expenditure
2.8
1.9
1.8
+47.1%
Free cash flow
-6.0
-15.4
-25.7
Free cash flow margin
-5.0%
-16.7%
-35.7%
Cash from investing
-42.7
-1.9
-1.3
Cash from financing
127
59.5
-0.2
+113.9%
Depreciation and amortisation
4.1
3.9
3.8
+5.0%
Share-based compensation
9.8
6.0
6.6
+64.6%
Diluted shares, weighted
46m
n/a
n/a
Shares outstanding at period end
50m
34m
34m
+45.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
239
79.8
37.2
+200.2%
Debt
0.7
25.3
24.9
-97.3%
Operating lease liabilities
11.5
0.0
n/a
Other liabilities
23.6
15.6
16.5
+51.0%
Total liabilities and equity
275
121
78.7
+128.1%
Fixed assets
8.9
8.9
9.7
-0.1%
Goodwill
2.7
1.1
1.1
+157.8%
Intangible assets
65.0
12.0
13.1
+441.8%
Cash and equivalents
159
78.0
33.9
+104.3%
Receivables
19.3
13.2
12.7
+46.8%
Inventory
6.8
3.4
5.3
+100.1%
Other assets
13.1
4.1
2.9
+221.0%
Total assets
275
121
78.7
+128.1%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.