Veracyte Announces First Quarter 2019 Financial Results
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Veracyte (VCYT) Tops Q1 EPS by 5c, Revenues Beat; Raises FY19 Revenue Guidance Above Consensus
April 30, 2019 5:05 PM EDTVeracyte (NASDAQ: VCYT) reported Q1 EPS of ($0.05), $0.05 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $29.5 million versus the consensus estimate of $27.61 million.
We delivered excellent results in the first quarter of 2019, said Bonnie Anderson, chairman and chief executive officer of Veracyte. Product revenue and genomic volume both grew significantly in the quarter, and our biopharmaceutical service revenue exceeded our expectations. We also demonstrated financial discipline, improving our cash used in operating activities by 86%.
Anderson continued, In addition, we received a final Medicare... More
