Veracyte (NASDAQ: VCYT) reported Q4 EPS of ($0.15), $0.08 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $29.7 million versus the consensus estimate of $29.53 million.

For the three months ended December 31, 2019, compared to the prior year:

• Total Revenue was $29.7 million, an increase of 15%;
• Gross Margin was 66%, unchanged;
• Operating Expenses, Excluding Cost of Revenue, were $27.8 million, an increase of 38%;
• Net Loss and Comprehensive Loss was ($7.5) million, an increase of 140%;
• Basic and Diluted Net Loss Per Common Share was ($0.15), an increase of 88%;
• Net Cash Provided by Operating Activities was $1.8 million, compared to $1.2 million used; and
• Cash and Cash Equivalents was $159.3 million at December 31, 2019.

“Veracyte experienced a transformational year in 2019 as we successfully drove strong revenue and volume growth across our products, secured strategic biopharmaceutical collaborations, advanced our pipeline – specifically, our nasal swab test for early lung cancer detection – and positioned the company to become a global leader in advanced genomic diagnostics on a world-class instrumentation platform,” said Bonnie H. Anderson, chairman and chief executive officer of Veracyte. “We also achieved cashflow breakeven status for the fourth quarter of 2019, underscoring our focus on driving business growth, while maintaining financial discipline. We expect 2020 to be a big year for the company as we grow our business, advance our pipeline and leverage the opportunity to expand our global footprint.”

GUIDANCE:

Veracyte sees FY2020 revenue of $138-142 million, versus the consensus of $136.41 million.

For earnings history and earnings-related data on Veracyte (VCYT) click here.