Veracyte lifts quarterly sales 15% as it buys bladder-test firm and plans buyback
The diagnostics group posted $31.5m of quarterly net income and approved a $100m repurchase, but trimmed its full-year testing revenue outlook.
Veracyte reported third-quarter 2026 revenue of $151.8m on 4 November, 15% higher than a year earlier, and net income of $31.5m. The company credited the growth to its Decipher Prostate and Afirma tests.
The board authorised the company to repurchase up to $100m of its own shares over 12 months. Veracyte also set full-year 2026 revenue guidance at $590m to $593m. It lowered its forecast for testing revenue, though the material available does not say by how much or why.
Veracyte also acquired Convergent Genomics, which brings a urine-based test for bladder cancer into the group. Financial terms of the deal and any timetable for launching the technology were not provided.
On reimbursement, the company secured Medicare coverage for Prosigna, its test for breast cancer recurrence. The scope of the coverage and its effective date were not given in the available information.
Why it matters
- A lower testing revenue forecast alongside 15% quarterly growth is a gap worth watching, but the available material does not explain it.
- The Convergent Genomics deal points to Veracyte's interest in urine-based bladder cancer testing. Price and launch timing are undisclosed, so its commercial weight cannot yet be judged.
- Medicare coverage for Prosigna is a market-access step for the breast cancer test. Its value will depend on coverage criteria and the effective date, neither of which has been detailed.
- The $100m buyback authorisation gives the company a capital-return option over the next 12 months. It is an authorisation, not a commitment to buy a set amount.
Company's press release (SEC filing): Veracyte, Inc. ↗
Written by CompePharma's editorial system from the company's filing; claims are the company's. AI-assisted; check the source before acting. Not investment advice.
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