Veracyte (VCYT) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic vision and platform expansion

• Focused on transforming global cancer care through advanced molecular diagnostics, broad genomic assays, and a platform approach.

• Platform supports risk assessment, diagnosis, prognosis, treatment guidance, and monitoring across multiple cancer types, including urology, endocrinology, pulmonology, and women's health.

• Generates more data per test than required, creating a data-driven flywheel for growth and clinical utility.

• Over 800,000 patients served and 600+ supporting publications as of 2025.

• International expansion and innovation are central to long-term strategy.

Financial performance and outlook

• 2025 revenue expected at ~$516 million, with 17% testing revenue growth, led by Afirma and Decipher.

• Achieved >25% adjusted EBITDA margin in 2025, ahead of target, and aiming to maintain it in 2026.

• 2026 revenue guidance of $570–$582 million, with 10–13% YOY growth and 14–16% YOY testing growth.

• Nearly $400 million in cash and no debt, enabling both organic and inorganic growth opportunities.

• Capital allocation prioritizes high-return projects, with a disciplined approach to M&A.

Product innovation and pipeline

• Decipher and Afirma remain core growth drivers, with Decipher at ~33% and Afirma at ~38% market penetration by end of 2025.

• Decipher Metastatic launched; new predictive signatures (PORTOS, PTEN) to be added in 2026.

• Afirma transitioned to V2 transcriptome, improving scalability and result accuracy.

• ProSigna LDT launch planned for mid-2026 in the U.S., with positive OPTIMA PRELIM study outcomes and full readout expected mid-2026.

• True MRD platform launching in muscle-invasive bladder cancer in 1H 2026, with plans for annual new indications from 2027.