Veracyte (VCYT) FY2020 results: revenue $117 million, down 2.4% on the year
Veracyte, Inc. (VCYT) reported revenue of $117 million for fiscal 2020, the year ended 31 December 2020, down 2.4% on the year before. Net income was -$35 million, and diluted earnings per share $-0.66. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$117 million
-2.4% on the year
FY2013FY2020
Operating margin
-30.1%
-12.6% a year earlier
FY2013FY2020
Net income
-$35 million
FY2013FY2020
Diluted EPS
-$0.66
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
117
120
92.0
-2.4%
Cost of revenue
n/a
36.1
33.1
Gross profit
n/a
84.3
58.9
Gross margin
n/a
70.0%
64.0%
Research and development
17.2
14.9
14.8
+15.8%
Operating income
-35.4
-15.1
-22.2
Operating margin
-30.1%
-12.6%
-24.2%
Interest expense
0.2
0.7
2.0
-66.2%
Pre-tax income
-34.9
-12.6
-23.0
Income tax
0.0
0.0
0.0
Net income
-34.9
-12.6
-23.0
Net margin
-29.7%
-10.5%
-25.0%
Diluted EPS
-$0.66
-$0.27
-$0.62
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-9.7
-3.2
-13.5
Capital expenditure
2.8
2.8
1.9
+2.9%
Free cash flow
-12.5
-6.0
-15.4
Free cash flow margin
-10.7%
-5.0%
-16.7%
Cash from investing
-3.8
-42.7
-1.9
Cash from financing
204
127
59.5
+59.9%
Depreciation and amortisation
7.9
4.1
3.9
+93.0%
Share-based compensation
13.0
9.8
6.0
+32.5%
Diluted shares, weighted
53m
46m
n/a
+15.4%
Shares outstanding at period end
58m
50m
34m
+17.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
421
239
79.8
+75.9%
Debt
0.8
0.7
25.3
+16.7%
Operating lease liabilities
9.9
11.5
0.0
-13.8%
Other liabilities
25.2
23.6
15.6
+7.0%
Total liabilities and equity
457
275
121
+66.1%
Fixed assets
9.0
8.9
8.9
+0.6%
Goodwill
2.7
2.7
1.1
0.0%
Intangible assets
59.9
65.0
12.0
-7.8%
Cash and equivalents
349
159
78.0
+119.3%
Receivables
18.5
19.3
13.2
-4.5%
Inventory
4.7
6.8
3.4
-31.6%
Other assets
13.0
13.1
4.1
-0.3%
Total assets
457
275
121
+66.1%
10-K for the year ended 31 December 2020, filed 22 February 2021: the filing.