0001384101-23-000142 | 10-Q | XBRL Viewer

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Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 215,959	$ 215,274
Accumulated Amortization	(58,515)	(47,708)
Total	157,444	167,566
Indefinite-lived intangible assets	7,300	7,300
Total intangible assets	223,259	222,574
Intangible assets, net	$ 164,744	174,866
Weighted Average Remaining Amortization Period (Years)	8 years 2 months 12 days
Percepta product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 16,000	16,000
Accumulated Amortization	(8,800)	(8,267)
Total	$ 7,200	7,733
Weighted Average Remaining Amortization Period (Years)	7 years
Prosigna product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,120	4,120
Accumulated Amortization	(984)	(847)
Total	$ 3,136	3,273
Weighted Average Remaining Amortization Period (Years)	11 years
Prosigna customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,430	2,430
Accumulated Amortization	(1,742)	(1,499)
Total	$ 688	931
Weighted Average Remaining Amortization Period (Years)	1 year
nCounter Dx license
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,880	46,880
Accumulated Amortization	(11,199)	(9,636)
Total	$ 35,681	37,244
Weighted Average Remaining Amortization Period (Years)	11 years
LymphMark product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 990	990
Accumulated Amortization	(507)	(436)
Total	$ 483	554
Weighted Average Remaining Amortization Period (Years)	4 years
Decipher product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 90,000	90,000
Accumulated Amortization	(20,734)	(16,234)
Total	$ 69,266	73,766
Weighted Average Remaining Amortization Period (Years)	8 years
Decipher trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,000	4,000
Accumulated Amortization	(1,843)	(1,443)
Total	$ 2,157	2,557
Weighted Average Remaining Amortization Period (Years)	3 years
HalioDx developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 40,258	39,724
Accumulated Amortization	(7,975)	(5,899)
Total	$ 32,283	33,825
Weighted Average Remaining Amortization Period (Years)	8 years
HalioDx customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,664	4,602
Accumulated Amortization	(1,570)	(1,144)
Total	$ 3,094	3,458
Weighted Average Remaining Amortization Period (Years)	5 years
HalioDx customer backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,617	6,528
Accumulated Amortization	(3,161)	(2,303)
Total	$ 3,456	$ 4,225
Weighted Average Remaining Amortization Period (Years)	2 years

Components of Other Income

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Components of Other Income

Other income, net consists of the following (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
French research tax credits	$	(1,483)	$	936	$	(474)	$	1,827
Interest income	1,258		212		2,447		251
Interest expense	(3)		(70)		(10)		(132)
Gain (loss) on currency revaluation	(82)		(365)		146		(465)
Other	84		373		72		389
	$	(226)	$	1,086	$	2,181	$	1,870

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net loss	$ (16,493)	$ (23,993)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	13,529	13,048
Loss on disposal of property, plant and equipment	136	0
Stock-based compensation	18,366	12,584
Deferred income taxes	125	(118)
Interest on end-of-term debt obligation	0	107
Noncash lease expense	1,977	1,638
Revaluation of acquisition-related contingent consideration	(344)	(48)
Effect of foreign currency on operations	(167)	716
Impairment loss	1,410	3,318
Changes in operating assets and liabilities:
Accounts receivable	1,789	(2,936)
Supplies and inventory	2,782	(3,654)
Prepaid expenses and other current assets	(2,530)	(1,830)
Other assets	(1,048)	284
Operating lease liabilities	(2,091)	(1,680)
Accounts payable	792	(1,373)
Accrued liabilities and deferred revenue	(3,734)	(5,298)
Net cash provided by (used in) operating activities	14,499	(9,235)
Investing activities
Purchase of short-term investments	(19,700)	(8,972)
Proceeds from sale of short-term investments	39,773	0
Proceeds from maturity of short-term investments	5,000	2,175
Purchases of property, plant and equipment	(4,662)	(4,963)
Net cash provided by (used in) investing activities	20,411	(11,760)
Financing activities
Payment of long-term debt	0	(97)
Payment of taxes on vested restricted stock units	(3,168)	(1,865)
Proceeds from the exercise of common stock options and employee stock purchases	5,250	3,877
Net cash provided by financing activities	2,082	1,915
Increase (decrease) in cash, cash equivalents and restricted cash	36,992	(19,080)
Effect of foreign currency on cash, cash equivalents and restricted cash	43	(670)
Net increase (decrease) in cash, cash equivalents and restricted cash	37,035	(19,750)
Cash, cash equivalents and restricted cash at beginning of period	154,996	173,946
Cash, cash equivalents and restricted cash at end of period	192,031	154,196
Supplementary cash flow information:
Purchases of property, plant and equipment included in accounts payable and accrued liability	110	69
Cash paid for tax	0	64
Cash and cash equivalents	191,142
Restricted cash	889
Total cash, cash equivalents and restricted cash	$ 192,031	$ 154,196

Balance Sheet Components - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
2023 remainder of year	$ 10,680
2024	21,320
2025	20,194
2026	18,343
2027	17,737
Thereafter	69,170
Total	$ 157,444	$ 167,566

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 2,782
2024	5,619
2025	5,729
2026	1,412
2027	593
Thereafter	599
Total future minimum lease payments	16,734
Less: amount representing interest	1,870
Present value of future lease payments	14,864
Less: short-term lease liabilities	4,973	$ 4,070
Long-term lease liabilities	$ 9,891	$ 10,648

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (8,402)	$ (9,532)	$ (16,493)	$ (23,993)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurement Inputs and Valuation Techniques

As of June 30, 2023 and December 31, 2022, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs:


	Value or Range (Weighted-Average)
Unobservable input	June 30, 2023	December 31, 2022
Discount rate	7.7%	8.3%
Probability of achievement	80% - 100% (92%)	80% - 100% (94%)

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company records certain of its financial assets and liabilities at fair value. The accounting guidance for fair value provides a framework for measuring fair value and clarifies the definition of fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

•Level I: Inputs which include quoted prices in active markets for identical assets and liabilities;

•Level II: Inputs other than Level I that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

•Level III: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The carrying amounts of certain financial instruments of the Company, including cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The fair value of the Company’s financial assets includes money market funds and deposits for leases of the Company's facilities. Money market funds, included in cash and cash equivalents in the accompanying condensed consolidated balance sheets, were $5.6 million and $131.2 million as of June 30, 2023 and December 31, 2022, respectively, and are Level I assets as described above. The deposits for the leases, included in restricted cash, were $0.9 million and $0.7 million as of June 30, 2023 and December 31, 2022, respectively, and are a Level I assets as described above. There were no transfers between Levels 1, 2 or 3 for the three and six months ended June 30, 2023 and 2022.

On December 3, 2019, the Company acquired from NanoString the exclusive global diagnostics license to the nCounter Analysis System, the Prosigna breast cancer prognostic gene signature assay, and the LymphMark lymphoma subtyping assay. Pursuant to the terms of the agreement, Veracyte paid NanoString $40.0 million in cash and $10.0 million in Veracyte common stock, and may pay up to an additional $10.0 million in cash, contingent upon first achievement or occurrence, by or on behalf of Veracyte, of the commercial launch of the first, second and third diagnostic tests for use on the nCounter multiplex analysis system. This contingency was valued at $6.1 million as of the acquisition date and is remeasured to fair value at each reporting date until the contingent consideration is settled. As of June 30, 2023 and December 31, 2022, this contingency was remeasured to $8.2 million and $8.6 million, respectively, with the corresponding changes included in general and administrative expense in the Company's condensed consolidated statements of operations. For the three months ended June 30, 2023 and 2022, an expense of $0.1 million and a reversal of expense of $0.1 million, respectively, were recorded in general and administrative expense for the changes in carrying value. For the six months ended June 30, 2023 and 2022, a reversal of expense of $0.3 million and zero, respectively, were recorded. As of June 30, 2023, the achievement of one of the milestones is forecasted to occur within the next 12 months. As a result, $3.4 million of the contingent consideration is included in short term liabilities at June 30, 2023. The fair value of the contingent consideration includes inputs that are not observable in the market and thus represents a Level III financial liability. The estimation of the fair value of the contingent consideration is based on the present value of the expected payments calculated by assessing the likelihood of when the related milestones would be achieved and estimating the Company's borrowing rate. These estimates form the basis for making judgments about the carrying value of the contingent consideration that are not readily apparent from other sources. Changes to the forecasts for the achievement of the

milestones and the borrowing rate can significantly affect the estimated fair value of the contingent consideration. As of June 30, 2023 and December 31, 2022, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs:


	Value or Range (Weighted-Average)
Unobservable input	June 30, 2023	December 31, 2022
Discount rate	7.7%	8.3%
Probability of achievement	80% - 100% (92%)	80% - 100% (94%)

Short-Term Investments Held-to-Maturity

The Company's short-term investments consist of U.S. treasury securities with maturities at the time of purchase that were between 90 days and one year. The Company classifies these investments as held-to-maturity debt securities, which are reported at amortized cost, and are Level I assets as described above. As of June 30, 2023, the Company held no short-term investments and, as of December 31, 2022, short-term investments comprised U.S. treasury bills recorded at amortized cost of $24.6 million with a fair value of approximately $24.6 million. As of December 31, 2022, gross unrealized losses on short-term investments were insignificant. As part of its banking partner diversification efforts, the Company sold $40.0 million U.S. treasury bills with an amortized cost of $39.8 million for $39.8 million and realized a gross gain of $13 thousand during the six months ended June 30, 2023. No realized gains or losses on short-term investments were recognized in 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Goodwill

Goodwill was $698.9 million and $695.9 million as of June 30, 2023 and December 31, 2022, respectively. The changes in the carrying amounts of goodwill during the six months ended June 30, 2023 were due to foreign currency translation. The Company has not recorded any impairment related to goodwill.

Intangible Assets, Net

Intangible assets include finite-lived product technology, customer relationships, licenses and trade names and indefinite-lived in-process research and development. Intangible assets consisted of the following (in thousands of dollars):


	June 30, 2023						December 31, 2022						Weighted Average Remaining Amortization Period (Years)
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Percepta product technology	$	16,000	$	(8,800)	$	7,200	$	16,000	$	(8,267)	$	7,733	7
Prosigna product technology	4,120		(984)		3,136		4,120		(847)		3,273		11
Prosigna customer relationships	2,430		(1,742)		688		2,430		(1,499)		931		1
nCounter Dx license	46,880		(11,199)		35,681		46,880		(9,636)		37,244		11
LymphMark product technology	990		(507)		483		990		(436)		554		4
Decipher product technology	90,000		(20,734)		69,266		90,000		(16,234)		73,766		8
Decipher trade names	4,000		(1,843)		2,157		4,000		(1,443)		2,557		3
HalioDx developed technology	40,258		(7,975)		32,283		39,724		(5,899)		33,825		8
HalioDx customer relationships	4,664		(1,570)		3,094		4,602		(1,144)		3,458		5
HalioDx customer backlog	6,617		(3,161)		3,456		6,528		(2,303)		4,225		2
Total finite-lived intangibles	215,959		(58,515)		157,444		215,274		(47,708)		167,566		8.2
In-process research and development	7,300		—		7,300		7,300		—		7,300
Total intangible assets	$	223,259	$	(58,515)	$	164,744	$	222,574	$	(47,708)	$	174,866

Amortization of the finite-lived intangible assets is recognized on a straight-line basis. Amortization expense of $5.3 million and $5.4 million was recognized for the three months ended June 30, 2023 and 2022, respectively, and expense of $10.7 million and $10.9 million was recognized for the six months ended June 30, 2023 and 2022, respectively.

The estimated future aggregate amortization expense as of June 30, 2023 is as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2023 remainder of year	$	10,680
2024	21,320
2025	20,194
2026	18,343
2027	17,737
Thereafter	69,170
Total	$	157,444

Supplies and Inventory

As of June 30, 2023 and December 31, 2022, supplies and inventory consisted of $7.5 million and $10.2 million, respectively, of lab supplies and reagents consumed in the performance of testing services, and $4.1 million and $4.1 million, respectively, of inventory related to raw materials consumed in the contract manufacturing process, as well as finished and semi-finished components used in the assembly of diagnostic kits related to product sales.

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands of dollars):


	June 30, 2023		December 31, 2022
Accrued compensation expenses	$	26,538	$	30,637
Accrued other	7,889		7,137
Total accrued liabilities	$	34,427	$	37,774

Net Loss Per Common Share (Details) - shares	3 Months Ended		6 Months Ended
Net Loss Per Common Share (Details) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Common stock equivalents (in shares)	6,975,280	6,092,600	6,573,821	5,716,103
Shares of common stock subject to outstanding options
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Common stock equivalents (in shares)	3,972,237	3,955,687	3,870,228	3,830,368
Employee stock purchase plan
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Common stock equivalents (in shares)	22,962	66,289	36,529	49,831
Restricted stock units
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Common stock equivalents (in shares)	2,980,081	2,070,624	2,667,064	1,835,904

Organization, Description of Business and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Description of Business and Summary of Significant Accounting Policies

Veracyte, Inc., or Veracyte, or the Company, is a global diagnostics company that empowers clinicians with the high-value insights they need to guide and assure patients at pivotal moments in the race to diagnose and treat cancer. Veracyte's high-performing tests enable clinicians to make more confident diagnostic, prognostic and treatment decisions, helping patients avoid unnecessary procedures and interventions, and speed time to appropriate treatment, thereby improving outcomes for patients all over the world.

Veracyte was incorporated in the state of Delaware on August 15, 2006, as Calderome, Inc. Calderome operated as an incubator until early 2008. On March 4, 2008, the Company changed its name to Veracyte, Inc. The Company’s headquarters are in South San Francisco, California, and it also has operations in San Diego, California; Austin, Texas; and Marseille, France.

The Company currently offers tests in thyroid cancer (Afirma); prostate cancer (Decipher Prostate); breast cancer (Prosigna); interstitial lung diseases (Envisia); and bladder cancer (Decipher Bladder). The Company’s Percepta Nasal Swab test is being run in its CLIA lab in support of clinical studies and its tests for kidney cancer and lymphoma are in development, the latter as a companion diagnostic.

The Company serves global markets with two complementary models. In the United States, it offers laboratory developed tests, or LDTs, through its centralized, Clinical Laboratory Improvement Amendments of 1988, or CLIA, certified laboratories in South San Francisco and San Diego, California, supported by its cytopathology expertise in Austin, Texas. Additionally, primarily outside of the United States, the Company provides its Prosigna test to patients through distribution to laboratories and hospitals that can perform the tests locally as an in vitro diagnostic, or IVD, test that runs on the nCounter Analysis System.

Basis of Presentation

The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of June 30, 2023, the condensed consolidated statements of operations for the three and six months ended June 30, 2023 and 2022, the condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2023 and 2022, the condensed consolidated statements of stockholders' equity for the three and six months ended June 30, 2023 and 2022, and the condensed consolidated statements of cash flows for the six months ended June 30, 2023 and 2022 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of its financial position, operating results, stockholders' equity and cash flows for the periods presented. The condensed consolidated balance sheet as of December 31, 2022 has been derived from audited financial statements. The results for the three and six months ended June 30, 2023 are not indicative of the results expected for the full year or any other period. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company operates in one segment.

The accompanying interim period condensed consolidated financial statements and related financial information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Use of Estimates

The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates include: revenue recognition; the useful lives of property, plant and equipment; the recoverability of long-lived assets; the incremental borrowing rates for leases; accounting for acquisitions; the estimation of the fair value of intangible assets and contingent consideration; stock based compensation; income tax uncertainties, including a valuation allowance for deferred tax assets; credit related losses on investments; and allowance for credit losses and contingencies. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions

that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions.

Concentrations of Credit Risk and Other Risks and Uncertainties

The worldwide spread of coronavirus, or COVID-19, has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect the spread of COVID-19 as a global pandemic may have. As a result, the ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. If the financial markets or the overall economy are impacted for an extended period, the Company’s liquidity, revenue, supplies, goodwill and intangibles may be adversely affected. The Company considers the effects, to the extent knowable, of the COVID-19 pandemic in developing its estimates.

The majority of the Company’s cash and cash equivalents are deposited with two major financial institutions in the United States. Deposits in these institutions may exceed the amount of insurance provided on such deposits. The Company has not realized any losses on its deposits of cash and cash equivalents other than exchange rate losses related to foreign currency denominated accounts.

Several of the components of the Company’s sample collection kits and test reagents, and the nCounter system and related diagnostic kits, are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company’s requirements on a timely basis, or are unable to provide the Company with reagents that perform to specifications, the Company could suffer delays in being able to deliver its diagnostic solutions, suffer a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results.

Through June 30, 2023, the Company has derived most of its revenue from the sale of Decipher and Afirma testing. To date, Decipher and Afirma testing have been delivered primarily to physicians in the United States.

The Company is also subject to credit risk from its accounts receivable related to its sales. Credit risk for accounts receivable from testing revenue is incorporated in testing revenue accrual rates as the Company assesses historical collection rates and current developments to determine accrual rates and amounts the Company will ultimately collect. The Company generally does not perform evaluations of customers’ financial condition for testing revenue and generally does not require collateral. The Company assesses credit risk and the amount of accounts receivable the Company will ultimately collect for product, biopharmaceutical and other revenue based on collection history, current developments and credit worthiness of the customer. The estimate of credit losses is not material at June 30, 2023.

The Company’s third-party payers and other customers in excess of 10% of total revenue and their related revenue as a percentage of total revenue were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Medicare	32	%	30	%	32	%	30	%
UnitedHealthcare	10	%	10	%	10	%	10	%
	42	%	40	%	42	%	40	%

The Company's significant third-party payers in excess of 10% of total accounts receivable and their related accounts receivable balance as a percentage of total accounts receivable were as follows:


	June 30, 2023		December 31, 2022
Medicare	15	%	14	%
UnitedHealthcare	13	%	10	%

Cash and Cash Equivalents

The Company considers demand deposits in a bank, money market funds and highly liquid investments with an original maturity of 90 days or less to be cash equivalents.

Short-Term Investments

The Company's short-term investments consist of U.S. treasury securities with maturities at the time of purchase that were between 90 days and one year. The Company classifies these investments as held-to-maturity debt securities, which are reported at amortized cost. The amortization of discounts or premiums from the purchase of the securities are recognized as a component of interest income in other income (loss), net in the condensed consolidated statements of operations. Investments are initially recorded net of an allowance for expected credit losses, if any, which are remeasured each period and any impairments are recognized as an expense. Unrealized gains and losses are not recognized in income. As of both June 30, 2023 and December 31, 2022, no allowances for expected credit losses had been recorded and there have been no impairment or credit losses on the Company's short term investments.

Restricted Cash

The Company had deposits of $0.9 million and $0.7 million included in long-term assets as of June 30, 2023 and December 31, 2022, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the Company's leases.

Revenue Recognition

The Company recognizes revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers, or ASC 606. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has completed a service or transferred control of a product to the customer.

In arrangements involving more than one service or good, each required service or good is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the service or good either on its own or together with other resources that are readily available and (ii) the service or good is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on its respective relative stand-alone selling price. The estimated selling price of each deliverable reflects the Company's best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis or using an adjusted market assessment approach if selling price on a stand-alone basis is not available. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred which may be at a point in time or over time.

Testing Revenue

The Company bills for testing services at the time of test completion as defined by the delivery of test results. The Company recognizes revenue based on estimates of the amount that will ultimately be realized. In determining the amount to accrue for a delivered test, the Company considers factors such as payment history, payer coverage, whether there is a reimbursement contract between the payer and the Company, payment as a percentage of agreed upon rate (if applicable), amount paid per test and any current developments or changes that could impact reimbursement. These estimates require significant judgment by management. Actual results could differ from those estimates and assumptions.

Product Revenue

The Company's products consist of the Prosigna breast cancer assay, the nCounter Analysis System and related diagnostic kits. Product revenue from diagnostic kits is generally recognized upon shipment. Product revenue from instruments is

generally recognized when the instrument is ready for use by the end customer. Shipping and handling costs incurred for product shipments are included in product revenue. Revenue is presented net of the taxes that are collected from customers and remitted to governmental authorities.

Biopharmaceutical and Other Revenue

The Company enters into arrangements for biopharmaceutical research and development, commercialization, and contract manufacturing and development, which are classified under biopharmaceutical and other revenue. In prior years the Company also entered into arrangements for testing services. Such arrangements may require the Company to deliver various rights, manufactured diagnostic test kits, services and/or samples, including intellectual property rights/licenses, biopharmaceutical research and development services, and/or commercialization services. The Company receives consideration in the form of upfront license fees; payments on delivery of data, test results or manufactured products; costs of service plus margin; and development and commercial performance milestone payments.

The Company develops estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. The estimation of the stand-alone selling price may include independent evidence of market price, forecasted revenue or costs, development timelines, discount rates, and probabilities of technical and regulatory success. The Company evaluates each performance obligation to determine if the obligation can be satisfied at a point in time or over time, and it measures the services delivered to the collaborative partner which are periodically reviewed based on the progress of the related program. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. The effect of any change made to an estimated input component and, therefore revenue or expense recognized, would be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price.

At the inception of each arrangement that includes milestone payments (variable consideration), the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price. Milestone payments that are not within either party’s control, such as non-operational developmental and regulatory approvals, are generally not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones that are within either party’s control, such as operational developmental milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenue and earnings in the period of adjustment. Revisions to the Company’s estimate of the transaction price may also result in negative revenue and earnings in the period of adjustment. One collaboration arrangement with milestone payments falls under the scope of ASC Topic 808, Collaborative Arrangements, or ASC 808. These milestone payments are recognized in the same manner as milestone payments from customers and are classified under biopharmaceutical and other revenue.

Accounts receivable from biopharmaceutical and other revenue was $8.1 million at June 30, 2023 and $9.3 million at December 31, 2022. There was $2.4 million and $2.6 million of deferred revenue related to these agreements at June 30, 2023 and December 31, 2022, respectively. Revenue included in biopharmaceutical and other revenue for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Biopharmaceutical revenue	$	3,310	$	7,407	$	7,758	$	14,452
Contract manufacturing and testing	1,252		2,631		2,938		4,410
Total	$	4,562	$	10,038	$	10,696	$	18,862

Cost of Testing Revenue

The components of the Company's cost of testing services are laboratory expenses, sample collection expenses, compensation expense, license fees and royalties, depreciation, other expenses such as equipment and laboratory supplies, and allocations of facility and information technology expenses. Costs associated with performing tests are expensed as the test is processed regardless of whether and when revenue is recognized with respect to that test.

Cost of Product Revenue

Cost of product revenue consists primarily of costs of purchasing instruments and diagnostic kits from third-party contract manufacturers, installation, service and packaging and delivery costs, and the Company's internal labor expenses. In addition, cost of product includes royalty costs for licensed technologies included in the Company’s products. Cost of product revenue for instruments and diagnostic kits is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product in the condensed consolidated statements of operations.

Cost of Biopharmaceutical and Other Revenue

Cost of biopharmaceutical and other revenue consists of costs of performing activities under arrangements that require the Company to perform biopharmaceutical research and development, commercialization, contract manufacturing and contract testing services on behalf of a customer.

Pension Liability

The Company offers a defined benefit pension plan to certain non-U.S. employees of its Veracyte SAS subsidiary. As of both June 30, 2023 and December 31, 2022, the total pension obligation was $0.7 million and is included in other liabilities on the condensed consolidated balance sheets.

Recent Accounting Pronouncements

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 2014-09, Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted this guidance in 2023 and such adoption had no material impact on its consolidated financial statements and related disclosures.

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance at beginning of period (in shares) at Dec. 31, 2021		71,123
Balance at beginning of period at Dec. 31, 2021	$ 1,096,514	$ 71	$ 1,468,683	$ (357,157)	$ (15,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		354
Issuance of common stock on exercise of stock options and vesting of restricted stock units	1,763	$ 1	1,762
Issuance of common stock under employee stock purchase plan (ESPP) (in shares)		82
Issuance of common stock under employee stock purchase plan (ESPP)	2,115		2,115
Tax portion of vested restricted stock units	(1,865)		(1,865)
Stock-based compensation expense (employee)	11,644		11,644
Stock-based compensation expense (non-employee)	11		11
Stock-based compensation expense (ESPP)	929		929
Net loss	(23,993)			(23,993)
Other comprehensive income (loss)	(22,967)				(22,967)
Balance at end of period (in shares) at Jun. 30, 2022		71,559
Balance at end of period at Jun. 30, 2022	1,064,151	$ 72	1,483,279	(381,150)	(38,050)
Balance at beginning of period (in shares) at Mar. 31, 2022		71,433
Balance at beginning of period at Mar. 31, 2022	1,085,190	$ 71	1,477,418	(371,618)	(20,681)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		126
Issuance of common stock on exercise of stock options and vesting of restricted stock units	341	$ 1	340
Tax portion of vested restricted stock units	(418)		(418)
Stock-based compensation expense (employee)	5,414		5,414
Stock-based compensation expense (ESPP)	525		525
Net loss	(9,532)			(9,532)
Other comprehensive income (loss)	(17,369)				(17,369)
Balance at end of period (in shares) at Jun. 30, 2022		71,559
Balance at end of period at Jun. 30, 2022	1,064,151	$ 72	1,483,279	(381,150)	(38,050)
Balance at beginning of period (in shares) at Dec. 31, 2022		71,959
Balance at beginning of period at Dec. 31, 2022	1,075,200	$ 72	1,500,191	(393,717)	(31,346)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		592
Issuance of common stock on exercise of stock options and vesting of restricted stock units	3,276	$ 1	3,275
Issuance of common stock under employee stock purchase plan (ESPP) (in shares)		92
Issuance of common stock under employee stock purchase plan (ESPP)	1,974		1,974
Tax portion of vested restricted stock units	(3,168)		(3,168)
Stock-based compensation expense (employee)	17,494		17,494
Stock-based compensation expense (ESPP)	872		872
Net loss	(16,493)			(16,493)
Other comprehensive income (loss)	3,563				3,563
Balance at end of period (in shares) at Jun. 30, 2023		72,643
Balance at end of period at Jun. 30, 2023	1,082,718	$ 73	1,520,638	(410,210)	(27,783)
Balance at beginning of period (in shares) at Mar. 31, 2023		72,383
Balance at beginning of period at Mar. 31, 2023	1,081,259	$ 72	1,509,861	(401,808)	(26,866)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		260
Issuance of common stock on exercise of stock options and vesting of restricted stock units	1,287	$ 1	1,286
Tax portion of vested restricted stock units	(890)		(890)
Stock-based compensation expense (employee)	9,882		9,882
Stock-based compensation expense (ESPP)	499		499
Net loss	(8,402)			(8,402)
Other comprehensive income (loss)	(917)				(917)
Balance at end of period (in shares) at Jun. 30, 2023		72,643
Balance at end of period at Jun. 30, 2023	$ 1,082,718	$ 73	$ 1,520,638	$ (410,210)	$ (27,783)

Organization, Description of Business and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Use of Estimates

Concentrations of Credit Risk and Other Risks and Uncertainties

Cash and Cash Equivalents

The Company considers demand deposits in a bank, money market funds and highly liquid investments with an original maturity of 90 days or less to be cash equivalents.

Short-Term Investments

The Company's short-term investments consist of U.S. treasury securities with maturities at the time of purchase that were between 90 days and one year. The Company classifies these investments as held-to-maturity debt securities, which are reported at amortized cost. The amortization of discounts or premiums from the purchase of the securities are recognized as a component of interest income in other income (loss), net in the condensed consolidated statements of operations. Investments are initially recorded net of an allowance for expected credit losses, if any, which are remeasured each period and any impairments are recognized as an expense. Unrealized gains and losses are not recognized in income.

Revenue Recognition and Cost of Revenue

Revenue Recognition

Testing Revenue

Product Revenue

Biopharmaceutical and Other Revenue


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Biopharmaceutical revenue	$	3,310	$	7,407	$	7,758	$	14,452
Contract manufacturing and testing	1,252		2,631		2,938		4,410
Total	$	4,562	$	10,038	$	10,696	$	18,862

Cost of Testing Revenue

Cost of Product Revenue

Cost of Biopharmaceutical and Other Revenue

Pension Liability

Pension LiabilityThe Company offers a defined benefit pension plan to certain non-U.S. employees of its Veracyte SAS subsidiary.

Recent Accounting Pronouncements

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-19

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+ Details

Components of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
French research tax credits	$ (1,483)	$ 936	$ (474)	$ 1,827
Interest income	1,258	212	2,447	251
Interest expense	(3)	(70)	(10)	(132)
Gain (loss) on currency revaluation	(82)	(365)	146	(465)
Other	84	373	72	389
Other income (loss), net	$ (226)	$ 1,086	$ 2,181	$ 1,870

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of June 30, 2023 are as follows (in thousands of dollars):


Year Ending December 31,	Amounts
Remainder of 2023	$	2,782
2024	5,619
2025	5,729
2026	1,412
2027	593
Thereafter	599
Total future minimum lease payments	16,734
Less: amount representing interest	1,870
Present value of future lease payments	14,864
Less: short-term lease liabilities	4,973
Long-term lease liabilities	$	9,891

Schedule of Operating Lease Expense and Measurement Of Lease Liabilities

The following table summarizes operating lease expense and cash paid for amounts included in the measurement of lease liabilities (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease expense	$	1,278	$	1,113	$	2,401	$	2,167
Cash paid for amounts included in the measurement of lease liabilities	$	1,362	$	1,144	$	2,539	$	2,212

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

The Company leases office and laboratory facilities in South San Francisco and San Diego, California; Austin, Texas; Marseille, France; and Richmond, Virginia, and leases certain equipment under various non-cancelable lease agreements. The lease terms extend to January 2029 and contain extension of lease terms and expansion options. The leases have a weighted average remaining lease term of 3.1 years as of June 30, 2023. The Company had deposits of $0.9 million and $0.7 million included in long-term assets as of June 30, 2023 and December 31, 2022, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the leases.

The Company determined its operating lease liabilities using payments through their current expiration dates and a weighted average discount rate of 7.9% based on the rate that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment. Operating lease liabilities along with the associated right-of-use assets are disclosed in the accompanying condensed consolidated balance sheets. After the adoption of ASC 842, Leases, or ASC 842, the Company classified its deferred rent for tenant improvements with its operating lease right-of-use assets on the consolidated balance sheets.

Future minimum lease payments under non-cancelable operating leases as of June 30, 2023 are as follows (in thousands of dollars):


Year Ending December 31,	Amounts
Remainder of 2023	$	2,782
2024	5,619
2025	5,729
2026	1,412
2027	593
Thereafter	599
Total future minimum lease payments	16,734
Less: amount representing interest	1,870
Present value of future lease payments	14,864
Less: short-term lease liabilities	4,973
Long-term lease liabilities	$	9,891

The Company recognizes operating lease expense on a straight-line basis over the non-cancelable lease period. The following table summarizes operating lease expense and cash paid for amounts included in the measurement of lease liabilities (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating lease expense	$	1,278	$	1,113	$	2,401	$	2,167
Cash paid for amounts included in the measurement of lease liabilities	$	1,362	$	1,144	$	2,539	$	2,212

The company has leased laboratory equipment under various financing leases. The total right-of-use assets and total financing lease liabilities for these financing leases were $0.2 million and $0.2 million, respectively, as of June 30, 2023, and are included in property, plant and equipment, net and other liabilities in the accompanying condensed consolidated balance sheets. As of December 31, 2022, the total right-of-use assets and total financing lease liabilities for these financing leases were $0.4 million and $0.4 million, respectively.

The Company’s wholly-owned foreign subsidiary has entered into an arrangement under which it expects to sign a lease agreement for facilities which will be constructed in Marseille, France. The lease will commence upon completion of the construction of the office building which the Company currently expects to occur in the second half of 2023 at which time the Company will record a lease liability and a corresponding ROU asset. The initial term of the lease will be twelve years with annual rent of approximately $1.3 million, which is subject to change based on final construction.

Contingencies

From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. The Company believes there is no litigation pending that could have, either individually or in the aggregate, a material impact on the Company's consolidated financial statements.

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 90,322	$ 72,864	$ 172,744	$ 140,647
Operating expenses:
Research and development	12,541	9,377	25,310	18,543
Selling and marketing	25,756	24,001	51,886	47,755
General and administrative	25,047	19,798	47,510	40,710
Intangible asset amortization	5,341	5,391	10,670	10,877
Total operating expenses	98,373	83,597	191,293	166,628
Loss from operations	(8,051)	(10,733)	(18,549)	(25,981)
Other income (loss), net	(226)	1,086	2,181	1,870
Loss before income taxes	(8,277)	(9,647)	(16,368)	(24,111)
Income tax expense (benefit)	125	(115)	125	(118)
Net loss	$ (8,402)	$ (9,532)	$ (16,493)	$ (23,993)
Net loss per common share, basic (in USD per share)	$ (0.12)	$ (0.13)	$ (0.23)	$ (0.34)
Net loss per common share, diluted (in USD per share)	$ (0.12)	$ (0.13)	$ (0.23)	$ (0.34)
Shares used to compute net loss per common share, basic (in shares)	72,478,662	71,476,966	72,327,897	71,354,002
Shares used to compute net loss per common share, diluted (in shares)	72,478,662	71,476,966	72,327,897	71,354,002
Testing revenue
Revenue:
Total revenue	$ 81,749	$ 59,718	$ 154,145	$ 115,698
Operating expenses:
Cost of revenue	23,333	18,584	42,981	36,107
Product revenue
Revenue:
Total revenue	4,011	3,108	7,903	6,087
Operating expenses:
Cost of revenue	2,315	1,646	4,477	3,221
Biopharmaceutical and other revenue
Revenue:
Total revenue	4,562	10,038	10,696	18,862
Operating expenses:
Cost of revenue	$ 4,040	$ 4,800	$ 8,459	$ 9,415

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 125	$ (115)	$ 125	$ (118)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

The Company had reserved shares of common stock for issuance as follows:


	June 30, 2023	December 31, 2022
Stock options and restricted stock units issued and outstanding	6,860,444	5,881,906
Stock options and restricted stock units available for grant under stock option plans	5,256,642	5,591,977
Common stock available for the Employee Stock Purchase Plan	1,242,954	1,335,353
Total	13,360,040	12,809,236

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Commitments and Contingencies - Schedule of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 1,278	$ 1,113	$ 2,401	$ 2,167
Cash paid for amounts included in the measurement of lease liabilities	$ 1,362	$ 1,144	$ 2,539	$ 2,212

Stockholders' Equity (Details) - shares	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total number of shares reserved for issuance (in shares)	13,360,040	12,809,236
Shares of common stock subject to outstanding options
Class of Stock [Line Items]
Options issued and outstanding (in shares)	6,860,444	5,881,906
Shares available for issuance (in shares)	5,256,642	5,591,977
Employee stock purchase plan
Class of Stock [Line Items]
Shares available for issuance (in shares)	1,242,954	1,335,353

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Goodwill	$ 698,920		$ 698,920		$ 695,891
Intangible asset amortization	5,341	$ 5,391	10,670	$ 10,877
Lab supplies and reagents consumed	7,500		7,500		10,200
Raw materials and finished diagnostic kits	$ 4,100		$ 4,100		$ 4,100

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Organization, Description of Business and Summary of Significant Accounting Policies - Schedule of Third-party Payers And Other Customers (Details) - Customer concentration risk	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue \| Medicare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	32.00%	30.00%	32.00%	30.00%
Revenue \| UnitedHealthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	10.00%	10.00%	10.00%	10.00%
Revenue \| Customers Representing >10% Of Total Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	42.00%	40.00%	42.00%	40.00%
Accounts receivable \| Medicare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk			15.00%		14.00%
Accounts receivable \| UnitedHealthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk			13.00%		10.00%

Fair Value Measurements - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 03, 2019	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits for leases		$ 900,000		$ 900,000		$ 700,000
Acquisition-related contingent consideration, net of current portion		4,855,000		4,855,000		2,498,000
Short term contingent considerations		3,359,000		3,359,000		6,060,000
Short-term investments		0		0		24,605,000
Short-term investments, fair value						24,600,000
Sale of short-term investments				40,000,000
Amortized cost of short-term investments sold				39,800,000
Proceeds from sale of short-term investments				39,773,000	$ 0
Realized gains (losses) from sale of short-term investments				13,000		0
NanoString
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash paid in acquisition	$ 40,000,000.0
Additional cash to be paid	10,000,000.0
Acquisition-related contingent consideration, net of current portion	6,100,000	8,200,000		8,200,000		8,600,000
Contingent consideration, changes in fair value		100,000	$ (100,000)	(300,000)	$ 0
Short term contingent considerations		3,400,000		3,400,000
NanoString \| Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of shares issued in acquisition	$ 10,000,000.0
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 5,600,000		$ 5,600,000		$ 131,200,000

Condensed Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 191,142,000	$ 154,247,000
Short-term investments	0	24,605,000
Accounts receivable	42,365,000	44,021,000
Supplies and inventory	11,572,000	14,294,000
Prepaid expenses and other current assets	14,401,000	11,469,000
Total current assets	259,480,000	248,636,000
Property, plant and equipment, net	18,510,000	17,702,000
Right-of-use assets, operating leases	12,455,000	13,160,000
Intangible assets, net	164,744,000	174,866,000
Goodwill	698,920,000	695,891,000
Restricted cash	889,000	749,000
Other assets	6,116,000	5,418,000
Total assets	1,161,114,000	1,156,422,000
Current liabilities:
Accounts payable	12,895,000	11,911,000
Accrued liabilities	34,427,000	37,774,000
Current portion of deferred revenue	2,378,000	2,613,000
Current portion of acquisition-related contingent consideration	3,359,000	6,060,000
Current portion of operating lease liabilities	4,973,000	4,070,000
Current portion of other liabilities	119,000	186,000
Total current liabilities	58,151,000	62,614,000
Deferred tax liabilities	4,707,000	4,531,000
Acquisition-related contingent consideration, net of current portion	4,855,000	2,498,000
Operating lease liabilities, net of current portion	9,891,000	10,648,000
Other liabilities	792,000	931,000
Total liabilities	78,396,000	81,222,000
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized, 72,643,156 and 71,959,454 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	73,000	72,000
Additional paid-in capital	1,520,638,000	1,500,191,000
Accumulated deficit	(410,210,000)	(393,717,000)
Accumulated other comprehensive loss	(27,783,000)	(31,346,000)
Total stockholders’ equity	1,082,718,000	1,075,200,000
Total liabilities and stockholders’ equity	$ 1,161,114,000	$ 1,156,422,000

Stockholders' Equity

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The Company had reserved shares of common stock for issuance as follows:


	June 30, 2023	December 31, 2022
Stock options and restricted stock units issued and outstanding	6,860,444	5,881,906
Stock options and restricted stock units available for grant under stock option plans	5,256,642	5,591,977
Common stock available for the Employee Stock Purchase Plan	1,242,954	1,335,353
Total	13,360,040	12,809,236

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (i)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Net Loss Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Outstanding Common Stock Equivalents Excluded From Diluted Net Loss Per Common Share

The following outstanding common stock equivalents have been excluded from diluted net loss per common share because their inclusion would be anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Shares of common stock subject to outstanding options	3,972,237	3,955,687	3,870,228	3,830,368
Employee stock purchase plan	22,962	66,289	36,529	49,831
Restricted stock units	2,980,081	2,070,624	2,667,064	1,835,904
Total common stock equivalents	6,975,280	6,092,600	6,573,821	5,716,103

Organization, Description of Business and Summary of Significant Accounting Policies - Schedule of Biopharmaceutical and Other Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 90,322	$ 72,864	$ 172,744	$ 140,647
Biopharmaceutical revenue
Disaggregation of Revenue [Line Items]
Total revenue	3,310	7,407	7,758	14,452
Contract manufacturing and testing
Disaggregation of Revenue [Line Items]
Total revenue	1,252	2,631	2,938	4,410
Biopharmaceutical and other revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,562	$ 10,038	$ 10,696	$ 18,862

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 41
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax expense of $0.1 million and benefit $0.1 million for the three months ended June 30, 2023 and 2022, respectively, and expense of $0.1 million and benefit of $0.1 million for the six months ended June 30, 2023 and 2022, respectively. The Inflation Reduction Act of 2022 was signed into law August 16, 2022, and includes significant legislation addressing taxes, inflation, climate change and renewable energy incentives, and healthcare. Key tax provisions include a 15% corporate minimum tax, clean energy incentives, and a 1% excise tax on stock buybacks. The Company does not expect the provisions of such legislation to have any impact on the effective tax rate of the Company but will continue to evaluate the tax effects should any provisions become applicable to the Company.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section S99
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
Weighted average remaining lease term	3 years 1 month 6 days
Deposits	$ 0.9	$ 0.7
Discount rate	7.90%
Finance right-of-use assets	$ 0.2	$ 0.4
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Finance lease liabilities	$ 0.2	$ 0.4
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Facilities in Marseille, France
Operating Leases
Term of lease	12 years
Annual rent	$ 1.3

Net Loss Per Common Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Net Loss Per Common Share

Basic net loss per common share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury stock method. The following outstanding common stock equivalents have been excluded from diluted net loss per common share because their inclusion would be anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Shares of common stock subject to outstanding options	3,972,237	3,955,687	3,870,228	3,830,368
Employee stock purchase plan	22,962	66,289	36,529	49,831
Restricted stock units	2,980,081	2,070,624	2,667,064	1,835,904
Total common stock equivalents	6,975,280	6,092,600	6,573,821	5,716,103

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands of dollars):


	June 30, 2023						December 31, 2022						Weighted Average Remaining Amortization Period (Years)
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Percepta product technology	$	16,000	$	(8,800)	$	7,200	$	16,000	$	(8,267)	$	7,733	7
Prosigna product technology	4,120		(984)		3,136		4,120		(847)		3,273		11
Prosigna customer relationships	2,430		(1,742)		688		2,430		(1,499)		931		1
nCounter Dx license	46,880		(11,199)		35,681		46,880		(9,636)		37,244		11
LymphMark product technology	990		(507)		483		990		(436)		554		4
Decipher product technology	90,000		(20,734)		69,266		90,000		(16,234)		73,766		8
Decipher trade names	4,000		(1,843)		2,157		4,000		(1,443)		2,557		3
HalioDx developed technology	40,258		(7,975)		32,283		39,724		(5,899)		33,825		8
HalioDx customer relationships	4,664		(1,570)		3,094		4,602		(1,144)		3,458		5
HalioDx customer backlog	6,617		(3,161)		3,456		6,528		(2,303)		4,225		2
Total finite-lived intangibles	215,959		(58,515)		157,444		215,274		(47,708)		167,566		8.2
In-process research and development	7,300		—		7,300		7,300		—		7,300
Total intangible assets	$	223,259	$	(58,515)	$	164,744	$	222,574	$	(47,708)	$	174,866

Schedule of Future Aggregate Amortization Expense

The estimated future aggregate amortization expense as of June 30, 2023 is as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2023 remainder of year	$	10,680
2024	21,320
2025	20,194
2026	18,343
2027	17,737
Thereafter	69,170
Total	$	157,444

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands of dollars):


	June 30, 2023		December 31, 2022
Accrued compensation expenses	$	26,538	$	30,637
Accrued other	7,889		7,137
Total accrued liabilities	$	34,427	$	37,774

Fair Value Measurements - Fair Value Measurement Input (Details)	Jun. 30, 2023	Dec. 31, 2022
Discount rate
Measurement input	0.077	0.083
Probability of achievement \| Minimum
Measurement input	0.80	0.80
Probability of achievement \| Maximum
Measurement input	1	1
Probability of achievement \| Weighted Average
Measurement input	0.92	0.94

Organization , Description of Business and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Third-party Payers as a Percentage of Total

The Company’s third-party payers and other customers in excess of 10% of total revenue and their related revenue as a percentage of total revenue were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Medicare	32	%	30	%	32	%	30	%
UnitedHealthcare	10	%	10	%	10	%	10	%
	42	%	40	%	42	%	40	%

The Company's significant third-party payers in excess of 10% of total accounts receivable and their related accounts receivable balance as a percentage of total accounts receivable were as follows:


	June 30, 2023		December 31, 2022
Medicare	15	%	14	%
UnitedHealthcare	13	%	10	%

Schedule of Revenue

Revenue included in biopharmaceutical and other revenue for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Biopharmaceutical revenue	$	3,310	$	7,407	$	7,758	$	14,452
Contract manufacturing and testing	1,252		2,631		2,938		4,410
Total	$	4,562	$	10,038	$	10,696	$	18,862

Organization, Description of Business and Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Class of Stock [Line Items]
Number of operating segments \| segment	1
Short-term investments, allowance for expected credit losses	$ 0	$ 0
Deposits	900,000	700,000
Accounts receivable	42,365,000	44,021,000
Pension obligation	$ 700,000	$ 700,000
Defined Benefit Plan, Type [Extensible List]	Pension Plan [Member]	Pension Plan [Member]
Biopharmaceutical and other revenue
Class of Stock [Line Items]
Accounts receivable	$ 8,100,000	$ 9,300,000
Deferred revenue	$ 2,400,000	$ 2,600,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Indicates type of defined benefit plan. Includes, but is not limited to, pension plan, other postretirement plan and special and contractual termination benefits payable upon retirement.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(02)
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+ Details

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (8,402)	$ (9,532)	$ (16,493)	$ (23,993)
Other comprehensive income (loss):
Change in currency translation adjustments	(917)	(17,369)	3,563	(22,967)
Net comprehensive loss	$ (9,319)	$ (26,901)	$ (12,930)	$ (46,960)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Components of Other Income (Tables)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Schedule of Other Income, net

Other income, net consists of the following (in thousands of dollars):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
French research tax credits	$	(1,483)	$	936	$	(474)	$	1,827
Interest income	1,258		212		2,447		251
Interest expense	(3)		(70)		(10)		(132)
Gain (loss) on currency revaluation	(82)		(365)		146		(465)
Other	84		373		72		389
	$	(226)	$	1,086	$	2,181	$	1,870

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Aug. 04, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36156
Entity Registrant Name	VERACYTE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5455398
Entity Address, Address Line One	6000 Shoreline Court
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	(650)
Local Phone Number	243-6300
Title of 12(b) Security	Common Stock, par value, $0.001 per share
Trading Symbol	VCYT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		72,750,543
Entity Central Index Key	0001384101
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	72,643,156	71,959,454
Common stock, shares outstanding (in shares)	72,643,156	71,959,454

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued compensation expenses	$ 26,538	$ 30,637
Accrued other	7,889	7,137
Total accrued liabilities	$ 34,427	$ 37,774

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false