0001384101-26-000010 | 10-K | XBRL Viewer

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Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Accrued compensation expense	$ 27,459	$ 30,595
Accrued other	21,342	13,231
Total accrued liabilities	$ 48,801	$ 43,826

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net income (loss)	$ 66,353	$ 24,138	$ (74,404)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	21,415	23,459	27,188
Loss on disposal of property, plant and equipment	15	202	271
Stock-based compensation	43,601	36,249	33,141
Deferred income taxes	(581)	(233)	(3,839)
Non-cash lease expense	2,991	4,955	4,158
Revaluation of acquisition-related contingent consideration	(15,295)	2,167	(5,383)
Amortization of discount on short-term investments	(3,270)	(354)	(468)
Impairment loss	20,505	3,368	68,349
Non-cash loss on deconsolidation of subsidiary	6,708	0	0
Effect of foreign currency on operations	(3,834)	2,110	(1,096)
Changes in operating assets and liabilities:
Accounts receivable	(708)	(6,405)	3,887
Supplies and inventory	(2,861)	(5,871)	(1,694)
Prepaid expenses and other current assets	(2,054)	(1,296)	(458)
Other assets	525	(1,222)	(290)
Operating lease liability	(2,480)	(5,407)	(4,330)
Accounts payable	(1,039)	(4,305)	(134)
Accrued liabilities and deferred revenue	6,316	3,541	(676)
Net cash provided by operating activities	136,307	75,096	44,222
Investing activities
Purchase of short-term investments	(149,998)	(50,000)	(19,700)
Proceeds from sale of short-term investments	0	0	39,773
Proceeds from maturity of short-term investments	153,311	0	5,000
Loss on deconsolidation of subsidiary - cash	(2,845)	0	0
Acquisition of C2i, net of cash acquired	0	5,012	0
Purchases of property, plant and equipment	(9,677)	(11,287)	(9,961)
Net cash (used in) provided by investing activities	(9,209)	(56,275)	15,112
Financing activities
Payment of contingent consideration for acquisition	0	(4,500)	0
Payment of taxes on vested restricted stock units	(18,304)	(10,589)	(6,741)
Proceeds from the exercise of common stock options and employee stock purchases	14,082	19,993	9,578
Net cash (used in) provided by financing activities	(4,222)	4,904	2,837
Increase in cash, cash equivalents and restricted cash	122,876	23,725	62,171
Effect of foreign currency on cash, cash equivalents and restricted cash	719	(424)	163
Net increase in cash, cash equivalents and restricted cash	123,595	23,301	62,334
Cash, cash equivalents and restricted cash at beginning of year	240,631	217,330	154,996
Cash, cash equivalents and restricted cash at end of year	364,226	240,631	217,330
Supplementary cash flow information of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	$ 2,308	$ 1,186	$ 966

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
401(k) Plan
Defined Contribution Plan Disclosure [Line Items]
Employer contributions to the plan	$ 2.9	$ 1.6	$ 1.5

Business Combination	12 Months Ended
Business Combination	Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Business Combination	Business Combination On February 5, 2024, or the Closing Date, the Company acquired 100% of the outstanding equity interests of C2i, or the C2i Acquisition. C2i was a privately-held company that developed a novel method for estimating tumor burden in cancer patients by analyzing a patient’s cell free DNA sequence and offered post-treatment monitoring of cancer recurrence and progression by analyzing subtle changes in the pattern of the tumor’s DNA. The consideration to acquire C2i was $100.2 million, comprised of $73.3 million in the form of approximately 2.7 million shares of the Company’s common stock based on the Company's share price on the Closing Date, $0.8 million of pre-combination portion of replacement stock options issued to C2i’s continuing employees, and $17.2 million of contingent consideration that was agreed to be paid on achievement of certain milestones prior to January 1, 2026 and the remainder in cash. During the years ended December 31, 2025 and 2024, milestones were achieved resulting in payments of $0.7 million and $5.0 million, respectively. On January 1, 2026, the remaining milestones had not been achieved and the contingent obligation expired. Assets acquired and liabilities assumed were recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company.

- Definition

The entire disclosure for business combination.

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+ Details

Income Taxes - Schedule of Components of Benefits for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 0	$ 0	$ 0
State	2,314	1,814	1,520
Foreign	114	22	193
Total current	2,428	1,836	1,713
Deferred:
Federal	(307)	159	0
State	(273)	(389)	(90)
Foreign	0	0	(3,831)
Total deferred	(580)	(230)	(3,921)
Total income tax provision (benefit)	$ 1,848	$ 1,606	$ (2,208)

Segment

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment

The chief operating decision maker for the Company is the Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing financial performance. The Company has a single reporting unit associated with the development and commercialization of diagnostic tests and biopharmaceutical services. The accounting policies of the Company's single segment are the same as those described in the summary of significant accounting policies in Note 2, Summary of Significant Accounting Policies. The chief operating decision maker assesses performance of the Company's single segment and decides how to allocate resources based on consolidated net income. Under the current organizational structure, this measure is not discreetly available or required individually for any of the Company’s business activities and is only available at the consolidated level. The monitoring of budgeted versus actual results are used in assessing performance of the Company's single segment, allocating resources and in establishing management’s compensation. The Company's chief operating decision maker intends for all revenue generating activities to rely on cross-functional activities across the consolidated entity in order to operate. No individual besides the chief operating decision maker has been tasked with reviewing discreet operating results of the business activities, nor is there any intent to bifurcate the overall business review process to produce discreet operating results specific to any of the Company's business activities. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. Consolidated revenue does not include any inter-segment sales or transfers.

Information about reported segment revenue, measures of segment profit or loss, significant segment expenses and reconciliation to income from operations was as follows (in thousands):


	Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
Revenue:
Testing revenue	$	493,154	$	418,961	326,542
Product revenue	14,327		13,650		15,588
Biopharmaceutical and other revenue	9,664		13,153		18,921
Total revenue	517,145		445,764		361,051
Cost of revenue:
Cost of testing revenue:
Laboratory supplies and reagents expense	57,284		54,378		42,058
Sample collection expense	12,436		13,868		10,814
Compensation expense	24,611		22,392		18,534
Other cost of testing revenue (1)	19,655		12,147		10,375
Allocation of facilities and IT expenses	13,576		11,788		7,132
Total cost of testing revenue	127,562		114,573		88,913
Cost of product revenue:
Product costs	3,787		3,369		6,362
License fees and royalties	1,206		1,263		1,242
Other cost of product revenue (2)	3,348		3,815		902
Allocation of facilities and IT expenses	466		663		160
Total cost of product revenue	8,807		9,110		8,666
Cost of biopharmaceutical and other revenue:
Compensation expense	3,320		6,015		7,747
Other cost of biopharmaceutical and other revenue (3)	3,333		4,363		5,612
Allocation of facilities and IT expenses	925		2,006		1,965
Total cost of biopharmaceutical and other revenue	7,578		12,384		15,324
Intangible asset amortization - cost of revenue	10,666		11,552		18,464
Gross profit	362,532		298,145		229,684
Operating expenses:
Research and development:
Compensation expense	37,784		37,068		29,180
Direct research and development expense	16,596		19,237		12,918
Other research and development expenses (4)	8,492		6,245		10,280
Allocation of facilities and IT expenses	7,942		6,744		4,927
Total research and development	70,814		69,294		57,305
Selling and marketing:
Compensation expense	69,209		67,662		74,886
Direct marketing expense	5,563		6,283		5,422
Other selling and marketing expenses (5)	14,943		13,488		14,584
Allocation of facilities and IT expenses	10,450		8,001		6,598
Total selling and marketing	100,165		95,434		101,490
General and administrative:
Compensation expense	82,909		74,815		63,769
Other general and administrative expenses (6)	61,234		64,997		43,242
Allocation of facilities and IT expenses	(33,359)		(29,202)		(20,782)
Total general and administrative	110,784		110,610		86,229
Impairment of long-lived assets	20,505		3,368		68,349
Intangible asset amortization - operating expenses	2,487		3,297		2,106
Other income, net	(10,424)		(9,602)		(9,183)
Income tax provision (benefit)	1,848		1,606		(2,208)
Net income (loss)	$	66,353	$	24,138	$	(74,404)

________________

(1)Other cost of testing revenue includes cytopathology services, depreciation and amortization and other expenses.

(2)Other cost of product revenue includes contract manufacturing fees, license fees and royalties, depreciation and amortization and other expenses.

(3)Other cost of biopharmaceutical and other revenue includes license fees and royalties, depreciation and amortization and other expenses.

(4)Other research and development expenses includes depreciation and amortization and other expenses.

(5)Other selling and marketing expenses includes travel, entertainment, conference and other expenses.

(6)Other general and administrative expenses includes professional fees, information technology expense, occupancy costs, depreciation and amortization, contingent consideration and other expenses.

Revenue by geographic region based on the customer billing address was as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
United States	$	496,598	$	423,537	$	334,525
International	20,547		22,227		26,526
Total revenue	$	517,145	$	445,764	$	361,051

Substantially all of the Company’s long-lived assets were located in the United States as of December 31, 2025 and 2024.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Topic 280
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+ Details

Income Taxes - Schedule of Income Taxes Paid (Net of Refunds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Total State	$ 3,471
Total Foreign	169
Total income taxes paid (net of refunds)	3,640	$ 2,236	$ 1,697
Georgia
Income Tax Contingency [Line Items]
Total State	217
Maryland
Income Tax Contingency [Line Items]
Total State	238
Missouri
Income Tax Contingency [Line Items]
Total State	196
New York
Income Tax Contingency [Line Items]
Total State	245
Pennsylvania
Income Tax Contingency [Line Items]
Total State	432
Tennessee
Income Tax Contingency [Line Items]
Total State	372
Virginia
Income Tax Contingency [Line Items]
Total State	275
Other
Income Tax Contingency [Line Items]
Total State	1,496
Israel
Income Tax Contingency [Line Items]
Total Foreign	$ 169

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Numerator for basic EPS — net income (loss)	$ 66,353	$ 24,138	$ (74,404)
Numerator for diluted EPS — net income (loss)	$ 66,353	$ 24,138	$ (74,404)
Denominator for basic EPS — weighted average shares (in shares)	78,584,291	76,484,759	72,644,487
Shares of common stock subject to outstanding options
Dilutive potential common shares (in shares)	1,989,000	1,678,000	0
Denominator for diluted EPS — adjusted weighted average shares and assumed conversions (in shares)	80,573,140	78,163,217	72,644,487
Basic EPS (in USD per share)	$ 0.84	$ 0.32	$ (1.02)
Diluted EPS (in USD per share)	$ 0.82	$ 0.31	$ (1.02)
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Anti-dilutive potential common shares (in shares)	534,000	1,892,000	6,570,000
Shares of common stock subject to outstanding options
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Anti-dilutive potential common shares (in shares)	493,000	1,802,000	3,821,000
Restricted stock units
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Anti-dilutive potential common shares (in shares)	41,000	90,000	2,714,000
Employee stock purchase plan
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Anti-dilutive potential common shares (in shares)	0	0	35,000
Shares of common stock subject to outstanding options
Shares of common stock subject to outstanding options
Dilutive potential common shares (in shares)	502,000	553,000	0
Restricted stock units
Shares of common stock subject to outstanding options
Dilutive potential common shares (in shares)	1,440,000	1,087,000	0
Employee stock purchase plan
Shares of common stock subject to outstanding options
Dilutive potential common shares (in shares)	47,000	38,000	0

Balance Sheet Components - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
2026	$ 12,672
2027	12,515
2028	12,515
2029	12,515
2030	11,715
Thereafter	21,016
Net Carrying Amount	$ 82,948	$ 88,801

Commitments and Contingencies - Schedule of Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 8,049	$ 6,668	$ 5,265
Cash paid for amounts included in the measurement of lease liabilities	$ 7,497	$ 7,176	$ 5,365

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The Company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Deconsolidation of Subsidiary

Effective August 1, 2025, the Company ceased to have a controlling financial interest in its wholly-owned French subsidiary, Veracyte SAS. Accordingly, the Company derecognized the related assets and liabilities from its consolidated financial statements. Prior to deconsolidation, the operating results and cash flows of Veracyte SAS were included in the Company’s consolidated financial statements. Refer to Note 5, Balance Sheet Components, for additional information.

Reclassifications

Certain prior period balances have been reclassified to conform to current period presentation of the Company’s consolidated financial statements and accompanying notes. Such reclassifications have no effect on previously reported results of operations, accumulated deficit, subtotals of operating, investing or financing cash flows or consolidated balance sheet totals; however, for the years ended December 31, 2024 and 2023, the Company reclassified $0.4 million and $0.5 million of amortization of discount on short-term investments from the changes in other assets caption in the consolidated statements of cash flow to a separate caption, amortization of discount on short-term investments, within the operating activities section.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. 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 consolidated 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; 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 majority of the Company’s cash and cash equivalents are deposited with three 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 CLIA test reagents, IVD products and associated systems, as well as the systems service and service 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 December 31, 2025, the Company has derived most of its revenue from the sale of Decipher Prostate and Afirma testing. To date, Decipher Prostate 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 as of December 31, 2025.

The Company's total 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:


	Year Ended December 31,
	2025		2024		2023
Medicare	33	%	31	%	31	%
UnitedHealthcare	14	%	13	%	11	%
	47	%	44	%	42	%

In the above table, Medicare Advantage plans are included with their associated private payer amounts and Medicare amounts do not include Medicare Advantage.

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:


	As of December 31,
	2025		2024
Medicare	20	%	16	%
UnitedHealthcare	14	%	12	%

Cash Equivalents

The Company considers demand deposits in a bank, money market funds and highly liquid investments with maturities at the time of purchase of three months or less to be cash equivalents.

Short-Term Investments

The Company's short-term investments consist of United States treasury securities and time deposits with a bank with maturities at the time of purchase that were between three months and one year. The Company classifies these investments as held-to-maturity debt securities, which are reported at amortized cost. Discounts or premiums from the purchase of the securities are recognized as a component of interest income in other income (loss), net in the 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 December 31, 2025 and December 31, 2024, 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 $1.6 million and $1.5 million included in long-term assets as of December 31, 2025 and December 31, 2024, 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.

Acquisitions

The Company first determines whether a set of assets acquired and liabilities assumed constitute a business and should be accounted for as a business combination. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Business combinations are accounted for by using the acquisition method of accounting. Under the acquisition method, assets acquired, and liabilities assumed are recorded at their respective fair values as of the acquisition date in the Company's consolidated financial statements. The estimated fair value of intangible assets acquired are based on discounted cash flows utilizing certain assumptions including revenues (such as projected testing volumes, growth rates), discount rates and expected economic life/obsolescence factors of the respective assets. The excess of the fair value of consideration transferred over the fair value of the net assets acquired is recorded as goodwill. Contingent consideration obligations incurred in connection with a business combination are recorded at fair value on the acquisition date and remeasured at each subsequent reporting period until the related contingencies are resolved, with the resulting changes in fair value recorded in general and administrative expense in the consolidated statements of operations.

Supplies and Inventory

Supplies consist of lab supplies and reagents to be used in the performance of testing services. Inventory related to finished and semi-finished goods used in the assembly of diagnostic kits is related to product sales as well as raw materials consumed in the contract manufacturing process. Subsequent to the restructuring proceedings affecting Veracyte SAS in August 2025, the Company no longer maintains inventory associated with product sales or contract manufacturing. Inventory is stated at the lower of cost or net realizable value on a weighted average basis. The Company periodically analyzes supply and inventory levels and expiration dates, and writes down supply or inventory that has become obsolete, that has a cost basis in excess of its net realizable value, or in excess of expected sales requirements as cost of revenue. The Company records an allowance for excess or obsolete supplies and inventory using an estimate based on historical trends and evaluation of near-term expirations.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally between three and five years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the term of the lease. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized.

When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the balance sheet and any resulting gain or loss is reflected in the statements of operations in the period realized.

Leases

The Company determines if an arrangement is, or contains, a lease at inception. Operating leases are included in right-of-use assets - operating leases and operating lease liabilities in the consolidated balance sheets, representing the right to use an underlying asset for the lease term and the obligation to make lease payments arising from the lease. Right-of-use, or ROU, assets and lease liabilities are recognized at commencement based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments. The ROU assets also include any lease payments made and is adjusted for lease incentives. Lease terms may include options to extend or terminate the lease which are recognized when it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight-line basis over the lease terms. Lease and non-lease components are accounted for as a single lease component. Financing leases are immaterial and are included in property and equipment, net and other liabilities in the consolidated balance sheets. Leases with terms of 12 months or less are not recorded on our balance sheet.

Finite-lived Intangible Assets

Finite-lived intangible assets consist of intangible assets acquired as part of business combinations. The Company amortizes finite-lived intangible assets using the straight-line method over their estimated useful lives of 5 to 15 years, based on management's estimate of the period over which their economic benefits will be realized, product life and patent life. The Company tests these finite-lived intangible assets for impairment when events or circumstances indicate a reduction in the fair value below their carrying amounts. The Company recorded impairment charges of $2.7 million and $66.9 million for the years ended December 31, 2024 and 2023. There was no impairment of finite-lived intangible assets recorded for the year ended December 31, 2025. See Note 5, Balance Sheet Components, for more information on impairment testing.

Indefinite-lived Intangible Assets

Indefinite-lived intangible assets consist of in-process research and development, or IPR&D, acquired as part of business combinations. The IPR&D is not amortized until it becomes commercially viable and placed in service. At the time when the intangible assets are placed in service the Company will determine a useful life. The Company also tests these indefinite-lived intangible assets for impairment when events or circumstances indicate a reduction in the fair value below their carrying amounts. There was no impairment of indefinite-lived intangible assets for the years ended December 31, 2025, 2024 or 2023.

Other Long-Lived Assets — Impairment Assessment

The Company tests other long-lived assets for impairment on an annual basis and regularly reviews other long-lived assets to determine if any event has occurred that may indicate that the carrying values of other long-lived assets are impaired. If indicators of impairment exist, the Company assess the recoverability of the affected assets by determining whether their carrying amounts exceed their undiscounted expected future cash flows. If the affected assets are not recoverable, the Company estimates the fair value of the assets and records an impairment loss if the carrying value exceeds the fair value. Factors that may indicate potential impairment include significant changes in the ability of an asset to generate positive cash flows and the pattern of utilization of a particular asset. The Company recorded impairment charges of $20.5 million and $0.6 million for the years ended December 31, 2025 and 2024, respectively. There was no impairment of other long-lived assets recorded for the year ended December 31, 2023. See Note 5, Balance Sheet Components, for more information on impairment testing.

Goodwill

Goodwill, is reviewed for impairment on an annual basis or more frequently if events or circumstances indicate that it may be impaired. The Company's goodwill evaluation is based on both qualitative and quantitative assessments regarding the fair value of goodwill relative to its carrying value. The Company has determined that it operates in a single segment and has a single reporting unit associated with the development and commercialization of diagnostic products. In the event the Company determines that it is more likely than not the carrying value of the reporting unit is higher than its fair value, quantitative testing

is performed comparing recorded values to estimated fair values. If impairment is present, the impairment loss is measured as the excess of the recorded goodwill over its implied fair value. There was no impairment of goodwill for the years ended December 31, 2025, 2024 or 2023.

Fair Value of Financial Instruments

The carrying amounts of certain financial instruments including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities.

See Note 6, Fair Value Measurements, for further information on the fair value of the Company’s financial instruments.

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 recognizes testing revenue from the sale of tests performed for customers, including patients and institutions, at the time test results are reported to physicians. Most tests requested by customers are sold without a written agreement; however, the Company determines that an implied contract exists with its customers for whom a physician will order the test. The Company identifies each sale of its test to a customer as a single performance obligation. A stated contract price does not exist and the transaction price for each implied contract with a customer represents variable consideration. The Company uses the expected value method of estimating variable consideration. The Company estimates the variable consideration under the portfolio approach and considers the historical reimbursement data from third-party commercial and governmental payers and patients, as well as known or anticipated reimbursement trends not reflected in the historical data. The Company monitors the estimated amount to be collected in the portfolio at each reporting period based on actual cash collections in order to assess whether a revision to the estimate is required. Both the estimate and any subsequent revision contain uncertainty and require the use of significant judgment in the estimation of the variable consideration and application of the constraint for such variable consideration. The Company analyzes its actual cash collections over the expected reimbursement period and compares it with the estimated variable consideration for each payer group and any difference is recognized as an adjustment to estimated revenue after the expected reimbursement period, subject to assessment of the risk of future revenue reversal. For the years ended December 31, 2025, 2024 and 2023, the Company recorded $6.2 million, $11.8 million, and $7.8 million as revenue, respectively, resulting from cash collections exceeding the estimated variable consideration related to tests reported in previous years, including revenue received from successful appeals of reimbursement denials, net of recoupments.

Product Revenue

The Company's product revenue primarily consists of the Prosigna IVD breast cancer assay, related diagnostic kits and services. Product revenue from diagnostic kits is generally recognized upon shipment from the contract manufacturer. 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

From time to time, the Company enters into arrangements to license or provide access to its assets or services, including clinical and testing services, research and development, as well as other services, which are classified under biopharmaceutical and other revenue. Such arrangements may require the Company to deliver various rights, data, test results, services and/or samples, including intellectual property rights/licenses and biopharmaceutical research and development services. The Company receives consideration in the form of upfront license fees; payments on delivery of data or test results; costs of service plus margin; and development and commercial performance milestone payments.

The Company develops estimates and assumptions 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 $3.6 million and $3.8 million at December 31, 2025 and 2024, respectively. There was $1.2 million and $1.7 million of deferred revenue related to these agreements at December 31, 2025 and 2024, respectively.

Revenue included in biopharmaceutical and other revenue for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Biopharmaceutical revenue	$	6,536	$	7,149	$	13,874
Contract manufacturing and testing	3,128		6,004		5,047

Total	$	9,664	$	13,153	$	18,921

Cost of Testing Revenue

The components of the Company's cost of testing revenue 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 diagnostic kit components and reagents, labor, delivery costs and royalties for licensed technologies included in the Company’s products. Subsequent to the restructuring proceedings affecting Veracyte SAS in August 2025, the costs of diagnostic kit components and reagents and labor costs are paid to a third-party contract manufacturer. The cost of the finished product is recognized in the period the related revenue is recognized.

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 license or provide access to its assets or laboratory testing services, as well as costs incurred in providing contracted research and development and manufacturing activities. These costs are mainly composed of compensation, manufacturing and laboratory supplies, and pass-through costs. Following the restructuring proceedings affecting Veracyte SAS, as of August 2025 Veracyte SAS no longer provides biopharmaceutical services, contract manufacturing or contract development services.

Research and Development

Research and development expenses include expenses incurred to collect clinical samples and conduct clinical studies to develop and support its products and pipeline, as well as develop future technology. These expenses consist of compensation expenses, direct research and development expenses such as laboratory supplies and costs associated with setting up and conducting clinical studies at domestic and international sites, professional fees, depreciation and amortization, other miscellaneous expenses and allocation of facility and information technology expenses. The Company expenses all research and development costs in the periods in which they are incurred.

Income Taxes

The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

The Company assesses all material positions taken in any income tax return, including all significant uncertain positions, in all tax years that are still subject to assessment or challenge by relevant taxing authorities. The Company's assessment of an uncertain tax position begins with the initial determination of the position's sustainability and is measured at the largest amount of benefit that is more-likely-than-not of being realized upon ultimate settlement. As of each balance sheet date, unresolved uncertain tax positions must be reassessed, and the Company will determine whether (i) the factors underlying the sustainability assertion have changed and (ii) the amount of the recognized tax benefit is still appropriate. The recognition and measurement of tax benefits requires significant judgment. Judgments concerning the recognition and measurement of a tax benefit may change as new information becomes available.

Stock-based Compensation

Stock-based compensation expense for stock options issued to employees and non-employees is measured based on the grant-date fair value of the award. The fair value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model. Stock-based compensation expense for restricted stock units, or RSUs, is measured based on the fair value of the award, which is determined based upon the closing price of the Company’s common stock on the date of the grant.

The Company grants performance-based stock units, or PSUs, to certain employees which vest upon the achievement of certain performance conditions, subject to the employees’ continued service with the Company. The probability of vesting is assessed at each reporting period and compensation cost is adjusted based on this probability assessment.

The Company recognizes compensation costs on a straight-line basis for all employee stock-based compensation awards that are expected to vest over the requisite service period of the awards, which is generally the awards' vesting period. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Net Income (Loss) per Share

Basic earnings (loss) per share, or EPS, is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed based on the sum of the weighted average number of common shares and potentially dilutive common shares outstanding during the period. In loss periods, basic and diluted loss per share are identical since the effect of potentially dilutive common shares is antidilutive and therefore excluded. Potentially dilutive common shares from equity awards are determined using the average share price for each period under the treasury stock method. In addition, proceeds from exercises of equity awards and the average amount of unrecognized compensation expense for equity awards are assumed to be used to repurchase shares.

French Research Tax Credits

French research tax credits (crédit d’impôt recherche, or CIR) were generated by the Company’s wholly owned subsidiary, Veracyte SAS, in connection with its research efforts performed in Marseille, France. The Company recognized other income from the CIR over time based on when the research and development expenses were incurred. Subsequent to the restructuring proceedings affecting Veracyte SAS, beginning in August 2025 the Company no longer receives the CIR.

Foreign Currency Translation

The functional currency of the Company’s French subsidiary, Veracyte SAS, was the Euro. The functional currency of the Company’s Israeli subsidiary, C2i Genomics, Ltd., is the Shekel. Assets and liabilities denominated in foreign currencies are translated to U.S. dollars using the exchange rates at the balance sheet date. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity. Revenues and expenses from the Company’s foreign subsidiaries are translated using the monthly average exchange rates in effect during the period in which the transactions occur. Foreign currency transaction gains and losses are recorded in other income, net, on the consolidated statements of operations.

Comprehensive Income (Loss)

Comprehensive income (loss) is the change in stockholders’ equity from transactions and other events and circumstances other than those resulting from investments by stockholders and distributions to stockholders. The Company's comprehensive income (loss) includes the Company's net income (loss), gains and losses from the foreign currency translation of the assets and liabilities of our foreign subsidiaries, and the release of accumulated translation adjustment.

Recent Accounting Pronouncements

Recently adopted accounting pronouncements

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). This update requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. This ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. The Company adopted the standard for the year ended December 31, 2025, resulting in the additional disclosures included in Note 10, Income Taxes.

Recently issued accounting pronouncements not yet adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 will require public business entities to disclose in the notes to the financial statements, at each interim and annual reporting period, specific information about certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each expense caption presented on the face of the income statement, and the total amount of an entity's selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and may be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance on the consolidated financial statements.

Components of Other Income, net (Tables)

12 Months Ended

Dec. 31, 2025

Other Income and Expenses [Abstract]

Schedule of Other Income, Net

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


	Year Ended December 31,
	2025		2024		2023
Interest and dividend income	$	12,724	$	11,154	$	7,344
Loss on deconsolidation of subsidiary	(6,708)		—		—
Interest expense	(1)		(2)		(15)
Gain (loss) on currency revaluation	3,973		(2,045)		723
Other	436		495		1,131
Total	$	10,424	$	9,602	$	9,183

Balance Sheet Components - Schedule of Supplies and Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Supplies	$ 20,546	$ 17,876
Inventory	0	3,874
Total supplies and inventory	$ 20,546	$ 21,750

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Pre-tax income (loss) has been recorded in the following jurisdictions for the years ended December 31, 2025, 2024 and 2023 (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
United States	$	95,477	$	44,197	$	(15,853)
Foreign	(27,276)		(18,453)		(60,759)
Total	$	68,201	$	25,744	$	(76,612)

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision (benefit) for income taxes are as follows for the years ended December 31, 2025, 2024 and 2023 (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Current:
Federal	$	—	$	—	$	—
State	2,314		1,814		1,520
Foreign	114		22		193
Total current	2,428		1,836		1,713
Deferred:
Federal	(307)		159		—
State	(273)		(389)		(90)
Foreign	—		—		(3,831)
Total deferred	(580)		(230)		(3,921)
Total income tax provision (benefit)	$	1,848	$	1,606	$	(2,208)

Schedule of Reconciliation of Tax Expense Computed at the Statutory Federal Rate

The following table provides the updated requirements of ASU 2023-09 for 2025 (in thousands of dollars):


	Year Ended December 31, 2025
U.S. federal statutory tax rate	14,322	21.0	%
Effect of cross-border tax laws	(5,570)	(8.2)	%
Tax effects of foreign branches	(5,546)	(8.1)	%	(1)
Other	(24)	—	%
Effect of changes in tax laws or rates enacted in the current period	—	—	%
Tax credits	(4,560)	(6.7)	%
R&D credits	(4,560)	(6.7)	%
Non-taxable or non-deductible items	5,334	7.8	%
Veracyte SAS deconsolidation	5,017	7.4	%
Non-deductible compensation	4,184	6.1	%
Stock-based compensation	1,065	1.6	%
Excess tax benefits on stock-based compensation	(3,401)	(5.0)	%
Transaction costs	738	1.1	%
Contingent consideration	(2,424)	(3.6)	%
Other	155	0.2	%
Change in valuation allowance	(14,590)	(21.4)	%
Other adjustments	(1,456)	(2.1)	%
Federal deferred tax true-up	(1,456)	(2.1)	%
State and local income taxes, net of federal income tax effect	801	1.2	%	(2)
Foreign tax effects	5,406	7.9	%
France	5,577	8.2	%
Foreign rate differential	(1,277)	(1.9)	%
Deconsolidation loss	5,344	7.8	%
Change in valuation allowance	811	1.2	%
Other	699	1.0	%
Other foreign jurisdictions	(171)	(0.3)	%	(3)
Worldwide changes in unrecognized tax benefits	2,161	3.2	%
Grand total	1,848	2.7	%

________________

(1)Primarily related to the tax effects of the Foreign Branch in France.

(2)On December 31, 2025, state taxes in Pennsylvania, Georgia, New York, Maryland and Tennessee comprise the majority (greater than 50 percent) of the state and local income taxes, net of federal effect category.

(3)None of the remaining foreign jurisdictions for which there are foreign tax effects reconciling items meet the 5% threshold in 2025. There are no additional reconciling items by nature in any of the remaining foreign jurisdictions that meet the 5% threshold in 2025.

The following table presents a reconciliation of the income tax expense computed at the statutory federal rate and the Company's income tax expense for the periods presented, as previously disclosed, prior to the adoption of ASU 2023-09 (in thousands of dollars):


	Year Ended December 31,
	2024		2023
U.S. federal taxes at statutory rate	$	5,407	$	(16,088)
State tax (net of federal benefit)	(11,472)		(491)
Foreign rate differential	3,939		9,049
Non-deductible officers' compensation	2,271		639
Transaction costs	263		477
Permanent differences	529		419
Stock based compensation - excess benefit	381		739
Tax credits	(1,255)		(1,551)
Foreign worthless stock deduction	(74,719)		—
Other	(469)		(176)
Change in valuation allowance	76,731		4,775
Total	$	1,606	$	(2,208)

Schedule of Significant Components of the Company's Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	158,191	$	183,912	$	110,975
Research and development credits	18,607		14,074		10,728
Section 174 capitalization	25,453		32,612		17,388
Stock-based compensation	2,970		3,722		4,503
NanoString intangibles and goodwill	7,016		8,740		8,778
Operating lease liability	9,898		10,739		3,335
Accruals and other	6,362		8,170		7,128
Gross deferred tax assets	228,497		261,969		162,835
Valuation allowance	(197,301)		(227,984)		(139,920)
Net deferred tax assets	31,196		33,985		22,915
Deferred tax liabilities:
Property and equipment	(1,079)		(228)		(83)
Other acquired intangibles	(20,080)		(20,105)		(17,358)
In-process research and development	(1,548)		(4,787)		(3,461)
ROU assets	(9,135)		(10,092)		(2,747)
Gross deferred tax liabilities	(31,842)		(35,212)		(23,649)
Net deferred tax liabilities	(31,842)		(35,212)		(23,649)
Net deferred taxes	$	(646)	$	(1,227)	$	(734)

Schedule of Income Taxes Paid (Net of Refunds)

A summary of income taxes paid (net of refunds) pursuant to the disclosure requirements of ASU 2023-09 were as follows (in thousands):


	Years Ended December 31,
	2025		2024		2023
Federal:
States:
Georgia	$	217
Maryland	238
Missouri	196
New York	245
Pennsylvania	432
Tennessee	372
Virginia	275
Other	1,496
Total State	3,471
Foreign:
Israel	169
Total Foreign	169
Cash taxes paid during the period for income taxes (prior to ASU 2023-09)			$	2,236	$	1,697
Total income taxes paid (net of refunds)	$	3,640	$	2,236	$	1,697

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Unrecognized tax benefits, beginning of period	$	7,176	$	5,687	$	4,888
Gross increases—tax position in prior period	774		469		37
Gross decreases—tax position in prior period	(45)		(29)		(11)
Gross increases—current period tax position	1,650		1,049		773
Lapse of statute of limitations	—		—		—
Unrecognized tax benefits, end of period	$	9,555	$	7,176	$	5,687

Stock Incentive Plans - Narrative (Details)		12 Months Ended
Stock Incentive Plans - Narrative (Details)	Jun. 08, 2023 shares	Dec. 31, 2025 USD ($) purchasePeriod $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance (in shares) \| shares		16,640,069	15,796,355
Granted (in shares) \| shares		0	0
Weighted average fair value of options to purchase common stock granted (in USD per share) \| $ / shares				$ 14.90
Estimated grant date fair value of options to purchase common stock vested		$ 5,400,000	$ 9,800,000	$ 8,100,000
Intrinsic value of stock options exercised		11,200,000	15,500,000	9,000,000.0
Options vested and expected to vest at the end of the period		28,580,000
Compensation expense		$ 43,601,000	$ 36,249,000	33,141,000
Number of purchase periods \| purchasePeriod		2
Unrecognized compensation expense		$ 60,900,000
Period over which unrecognized compensation expense expected to be recognized		2 years 2 months 12 days
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in USD per share) \| $ / shares		$ 42.10	$ 39.60
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares		1,423,977
Weighted average grant date fair value (in USD per share) \| $ / shares		$ 32.41	$ 23.77
Options vested and expected to vest at the end of the period		$ 40,800,000	$ 27,100,000
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards granted		8,400,000	7,000,000.0	4,700,000
Compensation expense		$ 8,800,000	$ 3,400,000	$ 700,000
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum purchase price as a percentage of fair market value		85.00%
Maximum offering period		12 months
Purchase period		6 months
Maximum fair market value of shares available to purchase per calendar year		$ 25,000
Shares available for issuance (in shares) \| shares		895,255	1,051,407
Expected dividend yield		0.00%	0.00%	0.00%
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares		0	0
Expected dividend yield		0.00%		0.00%
2023 Paln
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options granted	10 years
Number of shares reserved for issuance (in shares) \| shares	5,306,156	10,937,821
Maximum value of awards available to be received per calendar year by existing non-employee directors		$ 750,000
Maximum value of awards available to be received per calendar year by new non-employee directors		$ 1,500,000
2023 Paln \| ISO \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum purchase price as a percentage of fair market value		100.00%
2023 Paln \| ISO \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options granted		10 years
Prior Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance (in shares) \| shares	12,806,156

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		71,959,000
Beginning balance at Dec. 31, 2022	$ 1,075,200	$ 72	$ 1,500,191	$ (393,717)	$ (31,346)
Increase (Decrease) in Stockholders' Equity [Rollforward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		1,160,000
Issuance of common stock on exercise of stock options and vesting of restricted stock units	6,425	$ 1	6,424
Issuance of common stock under employee stock purchase plan (ESPP) (in shares)		146,000
Issuance of common stock under employee stock purchase plan (ESPP)	3,153		3,153
Tax portion of vested restricted stock units	(6,741)		(6,741)
Stock-based compensation expense (employee)	31,494		31,494
Stock-based compensation expense (ESPP)	1,647		1,647
Net income (loss)	(74,404)			(74,404)
Currency translation adjustments	7,328				7,328
Release of accumulated translation adjustment	0
Ending balance (in shares) at Dec. 31, 2023		73,265,000
Ending balance at Dec. 31, 2023	1,044,102	$ 73	1,536,168	(468,121)	(24,018)
Increase (Decrease) in Stockholders' Equity [Rollforward]
Issuance of common stock and options for acquisition (in shares)		2,698,000
Issuance of common stock and options for acquisition	74,145	$ 3	74,142
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		1,672,000
Issuance of common stock on exercise of stock options and vesting of restricted stock units	17,107	$ 2	17,105
Issuance of common stock under employee stock purchase plan (ESPP) (in shares)		138,000
Issuance of common stock under employee stock purchase plan (ESPP)	2,886		2,886
Tax portion of vested restricted stock units	(10,589)		(10,589)
Stock-based compensation expense (employee)	34,919		34,919
Stock-based compensation expense (ESPP)	1,330		1,330
Net income (loss)	24,138			24,138
Currency translation adjustments	(12,072)				(12,072)
Release of accumulated translation adjustment	$ 0
Ending balance (in shares) at Dec. 31, 2024	77,772,678	77,773,000
Ending balance at Dec. 31, 2024	$ 1,175,966	$ 78	1,655,961	(443,983)	(36,090)
Increase (Decrease) in Stockholders' Equity [Rollforward]
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		1,430,000
Issuance of common stock on exercise of stock options and vesting of restricted stock units	11,030	$ 1	11,029
Issuance of common stock under employee stock purchase plan (ESPP) (in shares)		156,000
Issuance of common stock under employee stock purchase plan (ESPP)	3,052		3,052
Tax portion of vested restricted stock units	(18,304)		(18,304)
Stock-based compensation expense (employee)	42,413		42,413
Stock-based compensation expense (ESPP)	1,188		1,188
Net income (loss)	66,353			66,353
Currency translation adjustments	19,583				19,583
Release of accumulated translation adjustment	$ 8,295				8,295
Ending balance (in shares) at Dec. 31, 2025	79,359,005	79,359,000
Ending balance at Dec. 31, 2025	$ 1,309,576	$ 79	$ 1,695,339	$ (377,630)	$ (8,212)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable operating leases as of December 31, 2025 are as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2026	$	4,314
2027	6,999
2028	7,173
2029	6,858
2030	7,055
Thereafter	40,406
Total future minimum lease payments	72,805
Less: amount representing interest	33,151
Present value of future lease payments	39,654
Less: short-term lease liabilities	4,051
Long-term lease liabilities	$	35,603

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):


	Year Ended December 31,
	2025		2024		2023
Operating lease expense	$	8,049	$	6,668	$	5,265
Cash paid for amounts included in the measurement of lease liabilities	$	7,497	$	7,176	$	5,365

Segment (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information about reported segment revenue, measures of segment profit or loss, significant segment expenses and reconciliation to income from operations was as follows (in thousands):


	Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
Revenue:
Testing revenue	$	493,154	$	418,961	326,542
Product revenue	14,327		13,650		15,588
Biopharmaceutical and other revenue	9,664		13,153		18,921
Total revenue	517,145		445,764		361,051
Cost of revenue:
Cost of testing revenue:
Laboratory supplies and reagents expense	57,284		54,378		42,058
Sample collection expense	12,436		13,868		10,814
Compensation expense	24,611		22,392		18,534
Other cost of testing revenue (1)	19,655		12,147		10,375
Allocation of facilities and IT expenses	13,576		11,788		7,132
Total cost of testing revenue	127,562		114,573		88,913
Cost of product revenue:
Product costs	3,787		3,369		6,362
License fees and royalties	1,206		1,263		1,242
Other cost of product revenue (2)	3,348		3,815		902
Allocation of facilities and IT expenses	466		663		160
Total cost of product revenue	8,807		9,110		8,666
Cost of biopharmaceutical and other revenue:
Compensation expense	3,320		6,015		7,747
Other cost of biopharmaceutical and other revenue (3)	3,333		4,363		5,612
Allocation of facilities and IT expenses	925		2,006		1,965
Total cost of biopharmaceutical and other revenue	7,578		12,384		15,324
Intangible asset amortization - cost of revenue	10,666		11,552		18,464
Gross profit	362,532		298,145		229,684
Operating expenses:
Research and development:
Compensation expense	37,784		37,068		29,180
Direct research and development expense	16,596		19,237		12,918
Other research and development expenses (4)	8,492		6,245		10,280
Allocation of facilities and IT expenses	7,942		6,744		4,927
Total research and development	70,814		69,294		57,305
Selling and marketing:
Compensation expense	69,209		67,662		74,886
Direct marketing expense	5,563		6,283		5,422
Other selling and marketing expenses (5)	14,943		13,488		14,584
Allocation of facilities and IT expenses	10,450		8,001		6,598
Total selling and marketing	100,165		95,434		101,490
General and administrative:
Compensation expense	82,909		74,815		63,769
Other general and administrative expenses (6)	61,234		64,997		43,242
Allocation of facilities and IT expenses	(33,359)		(29,202)		(20,782)
Total general and administrative	110,784		110,610		86,229
Impairment of long-lived assets	20,505		3,368		68,349
Intangible asset amortization - operating expenses	2,487		3,297		2,106
Other income, net	(10,424)		(9,602)		(9,183)
Income tax provision (benefit)	1,848		1,606		(2,208)
Net income (loss)	$	66,353	$	24,138	$	(74,404)

________________

(1)Other cost of testing revenue includes cytopathology services, depreciation and amortization and other expenses.

(2)Other cost of product revenue includes contract manufacturing fees, license fees and royalties, depreciation and amortization and other expenses.

(3)Other cost of biopharmaceutical and other revenue includes license fees and royalties, depreciation and amortization and other expenses.

(4)Other research and development expenses includes depreciation and amortization and other expenses.

(5)Other selling and marketing expenses includes travel, entertainment, conference and other expenses.

(6)Other general and administrative expenses includes professional fees, information technology expense, occupancy costs, depreciation and amortization, contingent consideration and other expenses.

Schedule of Revenue from External Customers by Geographic Areas

Revenue by geographic region based on the customer billing address was as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
United States	$	496,598	$	423,537	$	334,525
International	20,547		22,227		26,526
Total revenue	$	517,145	$	445,764	$	361,051

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue:
Total revenue	$ 517,145	$ 445,764	$ 361,051
Cost of revenue:
Intangible asset amortization - cost of revenue	10,666	11,552	18,464
Total cost of revenue	154,613	147,619	131,367
Gross profit	362,532	298,145	229,684
Operating expenses:
Research and development	70,814	69,294	57,305
Selling and marketing	100,165	95,434	101,490
General and administrative	110,784	110,610	86,229
Impairment of assets	20,505	3,368	68,349
Total operating expenses	304,755	282,003	315,479
Income (loss) from operations	57,777	16,142	(85,795)
Other income, net	10,424	9,602	9,183
Income (loss) before income taxes	68,201	25,744	(76,612)
Income tax provision (benefit)	1,848	1,606	(2,208)
Net income (loss)	$ 66,353	$ 24,138	$ (74,404)
Earnings (loss) per share:
Basic (in USD per share)	$ 0.84	$ 0.32	$ (1.02)
Diluted (in USD per share)	$ 0.82	$ 0.31	$ (1.02)
Shares used to compute earnings (loss) per common share:
Basic (in shares)	78,584,291	76,484,759	72,644,487
Diluted (in shares)	80,573,140	78,163,217	72,644,487
Testing revenue
Revenue:
Total revenue	$ 493,154	$ 418,961	$ 326,542
Cost of revenue:
Cost of revenue	127,562	114,573	88,913
Product revenue
Revenue:
Total revenue	14,327	13,650	15,588
Cost of revenue:
Cost of revenue	8,807	9,110	8,666
Biopharmaceutical and other revenue
Revenue:
Total revenue	9,664	13,153	18,921
Cost of revenue:
Cost of revenue	7,578	12,384	15,324
Intangible Asset Amortization
Operating expenses:
Intangible asset amortization - operating expenses	$ 2,487	$ 3,297	$ 2,106

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement Inputs and Valuation Techniques

As of December 31, 2025 and 2024, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs:


	Value or Range (Weighted-Average)
Unobservable input	December 31, 2025	December 31, 2024
Discount rate	4.8%	5.1% - 6.2% (5.3%)
Probability of achievement	4% - 40% (34%)	10% - 90% (86%)

Stockholders' Equity

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Stockholders' Equity

Common Stock

The Company's Restated Certificate of Incorporation authorizes the Company to issue 125,000,000 shares of common stock with a par value of $0.001 per share. The holder of each share of common stock shall have one vote for each share of stock. The common stockholders are also entitled to receive dividends whenever funds and assets are legally available and when declared by the board of directors, subject to the prior rights of holders of all series of convertible preferred stock outstanding. No dividends have been declared as of December 31, 2025.

As of December 31, 2025 and 2024, the Company had reserved shares of common stock for issuance as follows:


	December 31,
	2025	2024
Stock options and restricted stock units issued and outstanding	4,806,993	5,773,382
Stock options and restricted stock units available for grant under stock option plans	10,937,821	8,971,566
Common stock available for the Employee Stock Purchase Plan	895,255	1,051,407
Total	16,640,069	15,796,355

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
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-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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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
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+ Details

Income Taxes - Schedule of Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 7,176	$ 5,687	$ 4,888
Gross increases—tax position in prior period	774	469	37
Gross decreases—tax position in prior period	(45)	(29)	(11)
Gross increases—current period tax position	1,650	1,049	773
Lapse of statute of limitations	0	0	0
Unrecognized tax benefits, end of period	$ 9,555	$ 7,176	$ 5,687

Balance Sheet Components - Schedule of Loss on Deconsolidation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Aug. 01, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Release of accumulated translation adjustment	$ 8,295	$ 0	$ 0
Net loss on deconsolidation	6,708	$ 0	$ 0
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations \| Veracyte SAS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net liabilities deconsolidated	(4,156)			$ (4,156)
Release of accumulated translation adjustment	8,295
Recording of accounts payable to subsidiary	769
Other expenses	1,800
Net loss on deconsolidation	$ 6,708

Balance Sheet Components - Schedule of Major Classes of Assets and Liabilities Deconsolidated (Details) - Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations - Veracyte SAS - USD ($) $ in Thousands	Dec. 31, 2025	Aug. 01, 2025
Current assets:
Cash and cash equivalents		$ 2,845
Accounts receivable		2,087
Supplies and inventory		4,318
Prepaid expenses and other current assets		3,751
Total current assets		13,001
Property, plant and equipment, net		804
Right-of-use assets, operating leases		673
Total assets deconsolidated		14,478
Current liabilities:
Accounts payable		(3,171)
Accrued liabilities		(6,004)
Total current liabilities		(9,175)
Operating lease liabilities		(9,459)
Total liabilities deconsolidated		(18,634)
Net liabilities deconsolidated	$ (4,156)	$ (4,156)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 362,578	$ 239,087
Short-term investments	50,311	50,354
Accounts receivable	44,660	46,525
Supplies and inventory	20,546	21,750
Prepaid expenses and other current assets	10,281	14,551
Total current assets	488,376	372,267
Property, plant and equipment, net	22,192	22,953
Right-of-use assets, operating leases	36,599	48,189
Intangible assets, net	89,148	102,301
Goodwill	767,154	745,800
Restricted cash	1,648	1,544
Other assets	902	6,981
Total assets	1,406,019	1,300,035
Current liabilities:
Accounts payable	4,593	8,634
Accrued liabilities	48,801	43,826
Current portion of deferred revenue	1,160	1,673
Current portion of acquisition-related contingent consideration	1,332	16,981
Current portion of operating lease liabilities	4,051	7,500
Current portion of other liabilities	0	19
Total current liabilities	59,937	78,633
Deferred tax liability	646	1,227
Acquisition-related contingent consideration, net of current portion	257	561
Operating lease liabilities, net of current portion	35,603	43,237
Other liabilities	0	411
Total liabilities	96,443	124,069
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and 2024	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized, 79,359,005 and 77,772,678 shares issued and outstanding as of December 31, 2025 and 2024, respectively	79	78
Additional paid-in capital	1,695,339	1,655,961
Accumulated deficit	(377,630)	(443,983)
Accumulated other comprehensive loss	(8,212)	(36,090)
Total stockholders' equity	1,309,576	1,175,966
Total liabilities and stockholders' equity	$ 1,406,019	$ 1,300,035

Stock Incentive Plans

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock Incentive Plans

Stock Plans

On June 8, 2023, the Company’s stockholders approved the Company’s 2023 Equity Incentive Plan, as amended to the date hereof, or the 2023 Plan. The 2023 Plan, which became effective on June 8, 2023, serves as the successor to the Company’s 2013 Stock Incentive Plan, or the Prior Plan, and will terminate 10 years after the date approved by the Company’s board of directors. The 2023 Plan initially reserved for issuance 5,306,156 shares, which equaled the number of reserved shares available for grant under the Prior Plan as of June 8, 2023, which was subsequently increased to 12,806,156 shares. In addition, the number of (a) shares of common stock that are subject to awards granted under the Prior Plan that cease to be subject to such awards by forfeiture or otherwise after the effective date, (b) shares of common stock issued under the Prior Plan, including shares of common stock issued pursuant to the exercise of stock options, that are forfeited after the effective date, (c) shares of common stock issued under the Prior Plan that are repurchased by the Company at the original issue price after the effective date, (d) shares of common stock that are subject to awards granted under the Prior Plan that are settled in cash after the effective date, and (e) shares of common stock that are subject to awards under the Prior Plan that are used to pay the exercise price of an award or withheld to satisfy the tax withholding obligations related to an award after the effective date, is also reserved and eligible for issuance by the Company upon the exercise or settlement of awards to be granted under the 2023 Plan. The 2023 Plan permits the granting of stock options, restricted stock units, or RSUs, restricted stock awards, stock bonus awards, stock appreciation rights and performance awards to employees, consultants, and outside directors of the Company. Options granted may be either ISOs or NSOs. As of December 31, 2025, 10,937,821 shares were available for future issuance under the 2023 Plan.

Stock options are governed by stock option agreements between the Company and recipients of stock options. Incentive stock options (ISOs), within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, and nonqualified stock options (NSOs), may be granted under the 2023 Plan at an exercise price of not less than 100% of the fair market value of the common stock on the date of grant, determined by the Compensation Committee of the board of directors. Options become exercisable and expire as determined by the Compensation Committee, provided that the term of ISOs may not exceed ten years from the date of grant. Stock option agreements may provide for time-based and/or performance-based vesting as well as for accelerated exercisability in the event of an optionee's death, disability, or retirement or other events.

RSUs are governed by restricted stock unit agreements between the Company and recipients of RSUs. RSUs may be granted under the 2023 Plan and the number of stock units awarded are determined by the Compensation Committee of the board of directors. RSUs vest and expire as determined by the Compensation Committee. RSU agreements may provide for

time-based and/or performance-based vesting as well as for accelerated vesting in the event of a RSU holder's death, disability, or retirement or other events.

Pursuant to the 2023 Plan, no non-employee director may receive awards under the 2023 Plan that, when combined with cash compensation received for service as a non-employee director, exceeds $750,000 in value in any calendar year ($1,500,000 in the calendar year in which such non-employee director first joins the board of directors). Awards under the 2023 Plan may be granted to non-employee directors, may be automatically made pursuant to a policy adopted by the Board of Directors, or made from time to time as determined in the discretion of the Board of Directors. In the event of a change in control transaction, the vesting of all awards granted to our non-employee directors will accelerate and such awards will become exercisable (as applicable) in full upon the consummation of such event at such times and on such conditions as the Compensation Committee determines.

The following table summarizes activity under the Company's stock incentive plans (aggregate intrinsic value in thousands):


	Stock Options Outstanding and Unvested Restricted Stock Units	Weighted Average Exercise Price of Stock Options		Weighted Average Remaining Contractual Life of Stock Options (Years)	Aggregate Intrinsic Value of Stock Options
Balance—December 31, 2024	5,773,382	$	25.11	5.74	$	38,056

Granted - restricted stock units	1,423,977
Canceled	(472,983)	10.59
Exercised	(591,008)	18.66
Restricted stock units vested	(1,326,375)
Balance—December 31, 2025	4,806,993	$	26.41	5.28	$	28,887

Options vested and exercisable—December 31, 2025	1,513,876	$	26.86	5.00	$	24,680
Options vested and expected to vest—December 31, 2025	1,722,236	$	26.44	5.26	$	28,580

The aggregate intrinsic value was calculated as the difference between the exercise price of the options to purchase common stock and the fair market value of the Company's common stock, which was $42.10 and $39.60 per share as of December 31, 2025 and 2024, respectively.

No options to purchase common stock were granted for the years ended December 31, 2025 and 2024. The weighted average fair value of options was $14.90 for the year ended December 31, 2023.

The aggregate estimated grant date fair value of employee options to purchase common stock vested during the years ended December 31, 2025, 2024 and 2023 was $5.4 million, $9.8 million and $8.1 million, respectively.

The intrinsic value of stock options exercised was $11.2 million, $15.5 million and $9.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The weighted average fair value of RSUs granted was $32.41 and $23.77 for the years ended December 31, 2025, and 2024, respectively. The intrinsic value of RSUs vested was $40.8 million and $27.1 million for the years ended December 31, 2025 and 2024, respectively.

Included in RSUs granted for 2025, 2024 and 2023 are PSUs with a grant date fair value for remaining participants of $8.4 million, $7.0 million and $4.7 million, respectively. These PSUs vest based on the achievement of certain performance conditions, subject to the employees’ continued service with the Company. For the years ended December 31, 2025 and 2024 and 2023, the Company recorded $8.8 million, $3.4 million and $0.7 million, respectively, of expense related to these PSUs.

Employee Stock Purchase Plan

The Company's stockholders approved the Company's ESPP in May 2015 and approved an amendment and restatement of the Company’s ESPP in June 2020. The ESPP provides eligible employees with an opportunity to purchase common stock from the Company and to pay for their purchases through payroll deductions. The ESPP will be implemented through a series of offerings of purchase rights to eligible employees. Under the ESPP, the Compensation Committee of the Company's board of directors may specify offerings with a duration of not more than 12 months and may specify shorter purchase periods within each offering. During each purchase period, payroll deductions will accumulate, without interest. On the last day of the purchase period, accumulated payroll deductions will be used to purchase common stock for employees participating in the offering.

Pursuant to the ESPP, the purchase price will be 85% of the fair market value per share of the Company's common stock on either the offering date or on the purchase date, whichever is less.

The Company's board of directors has determined that the offering periods will begin each calendar year on August 1 and February 1, will be twelve (12) months in duration and include two (2) purchase periods, each purchase period lasting six (6) months. The Company's board of directors has determined that the purchase price will be 85% of the fair market value per share of the Company's common stock on either the offering date, which is the first trading day of the offering period, or the purchase date, which is the last trading day of the purchase period, whichever is less. The length of the offering period, the purchase period and the purchase price may not be changed without the approval of the independent members of the Compensation Committee of the Company's board of directors. If the fair market value of a share of the Company's common stock on any purchase date within a particular offering period is less than the fair market value on the start date of that offering period, then the offering period will automatically terminate and the employees in that offering period will automatically be transferred and enrolled in a new offering period which will begin on the next day following such purchase date.

No employee is permitted to accrue, under the ESPP, a right to purchase stock of the Company having a value in excess of $25,000 of the fair market value of such stock (determined at the time the right is granted) for each calendar year. As of December 31, 2025, 895,255 shares of common stock were reserved for issuance under the ESPP.

Stock-based Compensation

The following table summarizes stock-based compensation expense related to stock options, RSUs and the ESPP for the years ended December 31, 2025, 2024 and 2023, and are included in the consolidated statements of operations as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Cost of revenue	$	2,286	$	2,319	$	1,779
Research and development	7,919		7,511		5,277
Selling and marketing	8,317		6,897		9,588
General and administrative	25,079		19,522		16,497
Total stock-based compensation expense	$	43,601	$	36,249	$	33,141

As of December 31, 2025, the Company had $60.9 million of unrecognized compensation expense related to unvested stock options and RSUs, which is expected to be recognized over an estimated weighted-average period of 2.2 years.

The estimated grant-date fair value of stock options was calculated using the Black-Scholes option-pricing model, based on the following assumptions.

•Expected Term: The expected term represents the period that the options granted are expected to be outstanding, and is determined using the Company's historical data.

•Expected Volatility: The Company uses the historical volatility of its common stock.

•Risk-Free Interest Rate: The Company based the risk-free interest rate over the expected term of the options based on the constant maturity rate of U.S. Treasury securities with similar maturities as of the date of the grant.

•Expected Dividend Yield: The Company has not paid and does not anticipate paying any dividends in the near future. Therefore, the expected dividend yield was zero.

No employee stock options were granted in 2025 or 2024. During the year ended December 31, 2023, the estimated grant-date fair value of employee stock options using the Black-Scholes option-pricing model was based on the following assumptions:


			Year Ended December 31, 2023
Weighted-average volatility			68.82 - 69.78%
Weighted-average expected term (years)			5.44 - 5.66
Risk-free interest rate			3.51 - 4.72%
Expected dividend yield			—

The estimated grant date fair value of the ESPP shares was calculated using the Black-Scholes option-pricing model, based on the following assumptions:


	Year Ended December 31,
	2025	2024	2023
Weighted-average volatility	46.68% - 54.09%	46.29 - 51.73%	54.86 - 83.69%
Weighted-average expected term (years)	0.50 - 1.00	0.50 - 1.00	0.50 - 1.00
Risk-free interest rate	3.83% - 4.24%	4.57 - 5.09%	4.61 - 5.46%
Expected dividend yield	—	—	—

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Third-Party Payers as a Percentage of Total

The Company's total 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:


	Year Ended December 31,
	2025		2024		2023
Medicare	33	%	31	%	31	%
UnitedHealthcare	14	%	13	%	11	%
	47	%	44	%	42	%

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:


	As of December 31,
	2025		2024
Medicare	20	%	16	%
UnitedHealthcare	14	%	12	%

Schedule of Revenue

Revenue included in biopharmaceutical and other revenue for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Biopharmaceutical revenue	$	6,536	$	7,149	$	13,874
Contract manufacturing and testing	3,128		6,004		5,047

Total	$	9,664	$	13,153	$	18,921

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted EPS (in thousands, except per-share amounts):


	Year Ended December 31,
	2025		2024		2023
Numerator for basic and diluted EPS — net income (loss) (A)	$	66,353	$	24,138	$	(74,404)
Denominator for basic EPS — weighted average shares (B)	78,584		76,485		72,644
Effect of potentially dilutive common stock from:
Shares of common stock subject to outstanding options	502		553		—
Restricted stock units	1,440		1,087		—
Employee stock purchase plan	47		38		—
Dilutive potential common shares	1,989		1,678		—
Denominator for diluted EPS — adjusted weighted average shares and assumed conversions (C)	80,573		78,163		72,644
Basic EPS (A / B)	$	0.84	$	0.32	$	(1.02)
Diluted EPS (A / C)	$	0.82	$	0.31	$	(1.02)
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Shares of common stock subject to outstanding options	493		1,802		3,821
Restricted stock units	41		90		2,714
Employee stock purchase plan	—		—		35
Anti-dilutive potential common shares	534		1,892		6,570

Components of Other Income, net

12 Months Ended

Dec. 31, 2025

Other Income and Expenses [Abstract]

Components of Other Income, net

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


	Year Ended December 31,
	2025		2024		2023
Interest and dividend income	$	12,724	$	11,154	$	7,344
Loss on deconsolidation of subsidiary	(6,708)		—		—
Interest expense	(1)		(2)		(15)
Gain (loss) on currency revaluation	3,973		(2,045)		723
Other	436		495		1,131
Total	$	10,424	$	9,602	$	9,183

Stockholders' Equity - Schedule of Reserved Shares of Common Stock for Issuance (Details) - shares	Dec. 31, 2025	Dec. 31, 2024
Class of Stock [Line Items]
Stock options and restricted stock units issued and outstanding (in shares)	4,806,993	5,773,382
Total number of shares reserved for issuance (in shares)	16,640,069	15,796,355
Shares of common stock subject to outstanding options
Class of Stock [Line Items]
Stock options and restricted stock units issued and outstanding (in shares)	4,806,993	5,773,382
Shares available for issuance (in shares)	10,937,821	8,971,566
Common stock available for the Employee Stock Purchase Plan
Class of Stock [Line Items]
Shares available for issuance (in shares)	895,255	1,051,407

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

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

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (a)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

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 treasury bills, money market funds and deposits for leases of the Company's facilities. Included in cash and cash equivalents as of December 31, 2025 and 2024 were $50.3 million and $50.4 million, respectively, of treasury bills with maturities at the time of purchase of three months or less, which are Level I assets as described above. Money market funds, included in cash and cash equivalents in the accompanying consolidated balance sheets, was $29.3 million and $1.6 million as of December 31, 2025 and 2024, respectively, and are Level I assets as described above. The deposits for the leases, included in restricted cash, was $1.6 million and $1.5 million as of December 31, 2025 and 2024 respectively, and are Level I assets. There were no transfers between Levels 1, 2 or 3 for the years ended December 31, 2025, 2024, and 2023.

As part of the Company’s agreement to acquire the exclusive global diagnostic license to the nCounter Analysis System, the Company may pay up to an additional $10.0 million in cash, contingent upon first achievement or occurrence, by or on behalf of the Company, 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, with the corresponding changes included in general and administrative expense in the Company's consolidated statements of operations. As of December 31, 2025 and 2024, this contingency was remeasured to $1.6 million and $3.2 million, respectively. For the years ended December 31, 2025 and 2023, reversal of expenses of $1.7 million and $5.4 million were recorded. For the year ended December 31, 2024, expense of $0.1 million was recorded. As of December 31, 2025, the achievement of one of the milestones is forecasted to occur within the next 12 months. As a result, $1.3 million of the contingent consideration is included in short-term liabilities at December 31, 2025.

The contingent consideration related to the C2i Acquisition as discussed in Note 4, Business Combination, is dependent on the achievement of certain milestones on or before January 1, 2026 and is payable in cash or shares of the Company’s

common stock, at the Company’s election, of up to $25 million and was valued at $17.2 million. The fair value of the contingent consideration related to the C2i Acquisition will be remeasured to fair value at each reporting date until the contingent consideration is settled or expires, with the corresponding changes included in general and administrative expense. As of December 31, 2025 and 2024, this contingency was remeasured to zero and $14.3 million, respectively. For the years ended December 31, 2025 and 2024, a reversal of expense of $13.6 million and an expense of $2.1 million, respectively, was recorded. During the years ended December 31, 2025 and 2024, milestones were achieved resulting in payments of $0.7 million and $5.0 million, respectively. On January 1, 2026, the remaining milestones had not been achieved and the contingent obligation expired.

The fair value of 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 December 31, 2025 and 2024, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs:


	Value or Range (Weighted-Average)
Unobservable input	December 31, 2025	December 31, 2024
Discount rate	4.8%	5.1% - 6.2% (5.3%)
Probability of achievement	4% - 40% (34%)	10% - 90% (86%)

Short-Term Investments Held-to-Maturity

The Company's short-term investments consist of United States treasury securities with maturities, at the time of purchase, that were between three months 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 December 31, 2025 and 2024, short-term investments comprised United States treasury bills recorded at amortized cost of $50.3 million and $50.4 million, with fair values of approximately $50.4 million and $50.4 million, respectively. As of December 31, 2025 and 2024, gross unrealized gains on short-term investments were $0.1 million and zero, respectively. As part of its banking partner diversification efforts, the Company sold $40.0 million United States treasury bills with an amortized cost of $39.8 million, netting proceeds of $39.8 million and realized a gross gain of $13 thousand during the year ended December 31, 2023. No realized gains or losses on short-term investments were recognized in 2025 or 2024.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Segment - Net Income as Profit Measure (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) segment	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments \| segment	1
Revenue:
Total revenue	$ 517,145	$ 445,764	$ 361,051
Cost of revenue:
Intangible asset amortization - cost of revenue	10,666	11,552	18,464
Gross profit	362,532	298,145	229,684
Operating expenses:
Research and development	70,814	69,294	57,305
Selling and marketing	100,165	95,434	101,490
General and administrative	110,784	110,610	86,229
Impairment of assets	20,505	3,368	68,349
Other income, net	(10,424)	(9,602)	(9,183)
Income tax provision (benefit)	1,848	1,606	(2,208)
Net income (loss)	66,353	24,138	(74,404)
Testing revenue
Revenue:
Total revenue	493,154	418,961	326,542
Cost of revenue:
Cost of revenue	127,562	114,573	88,913
Product revenue
Revenue:
Total revenue	14,327	13,650	15,588
Cost of revenue:
Cost of revenue	8,807	9,110	8,666
Biopharmaceutical and other revenue
Revenue:
Total revenue	9,664	13,153	18,921
Cost of revenue:
Cost of revenue	7,578	12,384	15,324
Intangible Asset Amortization
Operating expenses:
Intangible asset amortization - operating expenses	2,487	3,297	2,106
Reportable Segment
Revenue:
Total revenue	517,145	445,764	361,051
Cost of revenue:
Intangible asset amortization - cost of revenue	10,666	11,552	18,464
Gross profit	362,532	298,145	229,684
Operating expenses:
Research and development	70,814	69,294	57,305
Selling and marketing	100,165	95,434	101,490
General and administrative	110,784	110,610	86,229
Impairment of assets	20,505	3,368	68,349
Other income, net	(10,424)	(9,602)	(9,183)
Income tax provision (benefit)	1,848	1,606	(2,208)
Net income (loss)	66,353	24,138	(74,404)
Reportable Segment \| Research and development
Operating expenses:
Compensation expense	37,784	37,068	29,180
Direct research and development expense	16,596	19,237	12,918
Other research and development expenses	8,492	6,245	10,280
Allocation of facilities and IT expenses	7,942	6,744	4,927
Reportable Segment \| Selling and marketing
Operating expenses:
Compensation expense	69,209	67,662	74,886
Direct research and development expense	5,563	6,283	5,422
Other selling and marketing expenses	14,943	13,488	14,584
Allocation of facilities and IT expenses	10,450	8,001	6,598
Reportable Segment \| General and administrative
Operating expenses:
Compensation expense	82,909	74,815	63,769
Other general and administrative expenses	61,234	64,997	43,242
Allocation of facilities and IT expenses	(33,359)	(29,202)	(20,782)
Reportable Segment \| Testing revenue
Revenue:
Total revenue	493,154	418,961	326,542
Cost of revenue:
Laboratory supplies and reagents expense	57,284	54,378	42,058
Sample collection expense	12,436	13,868	10,814
Compensation expense	24,611	22,392	18,534
Other cost	19,655	12,147	10,375
Allocation of facilities and IT expenses	13,576	11,788	7,132
Cost of revenue	127,562	114,573	88,913
Reportable Segment \| Product revenue
Revenue:
Total revenue	14,327	13,650	15,588
Cost of revenue:
Product costs	3,787	3,369	6,362
License fees and royalties	1,206	1,263	1,242
Other cost	3,348	3,815	902
Allocation of facilities and IT expenses	466	663	160
Cost of revenue	8,807	9,110	8,666
Reportable Segment \| Biopharmaceutical and other revenue
Revenue:
Total revenue	9,664	13,153	18,921
Cost of revenue:
Compensation expense	3,320	6,015	7,747
Other cost	3,333	4,363	5,612
Allocation of facilities and IT expenses	925	2,006	1,965
Cost of revenue	7,578	12,384	15,324
Reportable Segment \| Intangible Asset Amortization
Operating expenses:
Intangible asset amortization - operating expenses	$ 2,487	$ 3,297	$ 2,106

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amounts
2026	$ 4,314
2027	6,999
2028	7,173
2029	6,858
2030	7,055
Thereafter	40,406
Total future minimum lease payments	72,805
Less: amount representing interest	33,151
Present value of future lease payments	39,654
Less: short-term lease liabilities	4,051	$ 7,500
Long-term lease liabilities	$ 35,603	$ 43,237

Commitments and Contingencies

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

The Company leases office and laboratory facilities in the United States, including in South San Francisco and San Diego, California and Austin, Texas, and leases certain equipment under various non-cancelable lease agreements. Effective August 2025, in connection with the restructuring proceeding in Veracyte SAS, the Company is no longer a party to its lease in Marseille, France. The lease terms of the Company’s leases as of December 31, 2025 extend to March 2040 and contain extension of lease term and expansion options. The leases have a weighted average remaining lease term of 11.2 years as of December 31, 2025. The Company had deposits of $1.6 million and $1.5 million included in long-term assets as of December 31, 2025 and 2024, 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 11.4% 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 ROU assets are disclosed in the accompanying consolidated balance sheets. After the adoption of ASC 842, Leases,

the Company classified its deferred rent for tenant improvements with its operating lease ROU assets on the consolidated balance sheets.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2025 are as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2026	$	4,314
2027	6,999
2028	7,173
2029	6,858
2030	7,055
Thereafter	40,406
Total future minimum lease payments	72,805
Less: amount representing interest	33,151
Present value of future lease payments	39,654
Less: short-term lease liabilities	4,051
Long-term lease liabilities	$	35,603

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):


	Year Ended December 31,
	2025		2024		2023
Operating lease expense	$	8,049	$	6,668	$	5,265
Cash paid for amounts included in the measurement of lease liabilities	$	7,497	$	7,176	$	5,365

Supplies Purchase Commitments

The Company had non-cancelable purchase commitments with suppliers to purchase a minimum quantity of supplies within the next twelve months for approximately $44.0 million at December 31, 2025.

Contingencies

From time to time, the Company may be involved in various legal proceedings and claims arising in the ordinary course of business. Although the outcomes of such matters cannot be predicted with certainty, the Company believes there is no litigation pending that could have, either individually or in the aggregate, a material adverse impact on the Company's consolidated financial statements.

On May 1, 2025, the Company filed a complaint in federal court in the Eastern District of Texas alleging that Sonic Healthcare USA, Inc., the healthcare company that is believed to offer ThyroSeq v3, is infringing three of the Company’s patents related to molecular testing of thyroid nodules. The complaint seeks treble damages, attorneys’ fees and costs as well as injunctive relief. On June 4, 2025, the Company filed an amended complaint asserting two additional patents. On July 21, 2025, Sonic Healthcare USA, Inc. filed an answer and a motion to dismiss. The court denied Sonic Healthcare USA, Inc.’s motion to dismiss on January 20, 2026. The jury trial is currently scheduled for January 25, 2027.

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 65,672	$ 62,342
Accumulated depreciation	(43,480)	(39,389)
Total property and equipment, net	22,192	22,953
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	12,377	10,625
Laboratory equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	36,717	33,729
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	7,039	6,959
Software, including software developed for internal use
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	6,856	6,878
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	2,683	4,045
Construction-in-process
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 0	$ 106

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

The Company generated a pre-tax income of $68.2 million and $25.7 million for the years ended December 31, 2025 and 2024, respectively, and a pre-tax loss of $76.6 million for the year ended December 31, 2023. Pre-tax income (loss) has been recorded in the following jurisdictions for the years ended December 31, 2025, 2024 and 2023 (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
United States	$	95,477	$	44,197	$	(15,853)
Foreign	(27,276)		(18,453)		(60,759)
Total	$	68,201	$	25,744	$	(76,612)

The Company recorded an income tax provision in 2025 of $1.8 million primarily due to state income taxes partially offset by reductions in deferred tax liabilities from acquired entities. The Company recorded an income tax provision in 2024 of $1.6 million primarily due to foreign and state income taxes partially offset by the release of certain valuation allowances on the Company's deferred tax assets upon recording of the deferred tax liabilities related to the acquisition of C2i. The Company recorded an income tax benefit in 2023 of $2.2 million primarily due to reductions in deferred tax liabilities from acquired

entities partially offset by foreign and state income taxes. The components of the provision (benefit) for income taxes are as follows for the years ended December 31, 2025, 2024 and 2023 (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Current:
Federal	$	—	$	—	$	—
State	2,314		1,814		1,520
Foreign	114		22		193
Total current	2,428		1,836		1,713
Deferred:
Federal	(307)		159		—
State	(273)		(389)		(90)
Foreign	—		—		(3,831)
Total deferred	(580)		(230)		(3,921)
Total income tax provision (benefit)	$	1,848	$	1,606	$	(2,208)

ASU 2023-09, Improvements to Income Tax Disclosures was issued by FASB on December 14, 2023 which provides more transparency through enhanced income tax disclosures primarily related to the effective tax rate reconciliation and income taxes paid information. The Company adopted this ASU on January 1, 2025 on a prospective basis. The following table provides the updated requirements of ASU 2023-09 for 2025 (in thousands of dollars):


	Year Ended December 31, 2025
U.S. federal statutory tax rate	14,322	21.0	%
Effect of cross-border tax laws	(5,570)	(8.2)	%
Tax effects of foreign branches	(5,546)	(8.1)	%	(1)
Other	(24)	—	%
Effect of changes in tax laws or rates enacted in the current period	—	—	%
Tax credits	(4,560)	(6.7)	%
R&D credits	(4,560)	(6.7)	%
Non-taxable or non-deductible items	5,334	7.8	%
Veracyte SAS deconsolidation	5,017	7.4	%
Non-deductible compensation	4,184	6.1	%
Stock-based compensation	1,065	1.6	%
Excess tax benefits on stock-based compensation	(3,401)	(5.0)	%
Transaction costs	738	1.1	%
Contingent consideration	(2,424)	(3.6)	%
Other	155	0.2	%
Change in valuation allowance	(14,590)	(21.4)	%
Other adjustments	(1,456)	(2.1)	%
Federal deferred tax true-up	(1,456)	(2.1)	%
State and local income taxes, net of federal income tax effect	801	1.2	%	(2)
Foreign tax effects	5,406	7.9	%
France	5,577	8.2	%
Foreign rate differential	(1,277)	(1.9)	%
Deconsolidation loss	5,344	7.8	%
Change in valuation allowance	811	1.2	%
Other	699	1.0	%
Other foreign jurisdictions	(171)	(0.3)	%	(3)
Worldwide changes in unrecognized tax benefits	2,161	3.2	%
Grand total	1,848	2.7	%

________________

(1)Primarily related to the tax effects of the Foreign Branch in France.


	Year Ended December 31,
	2024		2023
U.S. federal taxes at statutory rate	$	5,407	$	(16,088)
State tax (net of federal benefit)	(11,472)		(491)
Foreign rate differential	3,939		9,049
Non-deductible officers' compensation	2,271		639
Transaction costs	263		477
Permanent differences	529		419
Stock based compensation - excess benefit	381		739
Tax credits	(1,255)		(1,551)
Foreign worthless stock deduction	(74,719)		—
Other	(469)		(176)
Change in valuation allowance	76,731		4,775
Total	$	1,606	$	(2,208)

For the year ended December 31, 2024, the Company made an election to treat its wholly owned French subsidiary as a disregarded entity for U.S. federal income tax purposes which resulted in a worthless stock deduction of approximately $356 million and an effective tax rate benefit of $74.7 million. This resulted in an increase to the Company’s net operating loss carryforwards. The Company has not recognized any tax benefits from the worthless stock deduction as a result of the full valuation allowance maintained on its deferred tax assets.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	158,191	$	183,912	$	110,975
Research and development credits	18,607		14,074		10,728
Section 174 capitalization	25,453		32,612		17,388
Stock-based compensation	2,970		3,722		4,503
NanoString intangibles and goodwill	7,016		8,740		8,778
Operating lease liability	9,898		10,739		3,335
Accruals and other	6,362		8,170		7,128
Gross deferred tax assets	228,497		261,969		162,835
Valuation allowance	(197,301)		(227,984)		(139,920)
Net deferred tax assets	31,196		33,985		22,915
Deferred tax liabilities:
Property and equipment	(1,079)		(228)		(83)
Other acquired intangibles	(20,080)		(20,105)		(17,358)
In-process research and development	(1,548)		(4,787)		(3,461)
ROU assets	(9,135)		(10,092)		(2,747)
Gross deferred tax liabilities	(31,842)		(35,212)		(23,649)
Net deferred tax liabilities	(31,842)		(35,212)		(23,649)
Net deferred taxes	$	(646)	$	(1,227)	$	(734)

The Company records net deferred tax assets to the extent it is more likely than not that the assets will be realized. In making such determination, the Company considered all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. The Company has established a full valuation allowance against its net deferred tax assets due to the uncertainty surrounding realization of such assets. The valuation allowance decreased $30.7 million, and increased $88.1 million and $14.5 million during the years ended December 31, 2025, 2024 and 2023, respectively.

The Internal Revenue Code of 1986, as amended, imposes restrictions on the utilization of net operating losses and tax credits in the event of an "ownership change" of a corporation. Accordingly, a company's ability to use net operating losses and tax credits may be limited as prescribed under Internal Revenue Code Section 382 and 383, or IRC Section 382. Events which may cause limitations in the amount of the net operating losses or tax credits that the Company may use in any one year include, but are not limited to, a cumulative ownership change of more than 50% over a three-year period. Utilization of the federal and state net operating losses may be subject to substantial annual limitation due to the ownership change limitations provided by the IRC Section 382 rules and similar state provisions. In the event the Company has any changes in ownership, net operating losses and research and development credit carryforwards could be limited and may expire unutilized.

As of December 31, 2025, the Company had net operating loss carryforwards of approximately $561.9 million, $113.3 million and $298.4 million available to reduce future taxable income, if any, for federal, California and other state income tax purposes, respectively. Of the $561.9 million of U.S. federal net operating loss carryforwards, $57.5 million will begin to expire in 2036 while the remainder will carryforward indefinitely. For state purposes, the net operating losses began to expire in 2028.

As of December 31, 2025, the Company had foreign net operating loss carryforwards of approximately $65.7 million available to reduce future taxable income, if any, for Canadian income tax purposes. The Canada net operating loss carryforwards will begin to expire in 2034.

As of December 31, 2025, the Company had net research and development credit carryforwards of approximately $15.8 million and $11.0 million available to reduce future taxable income, if any, for federal and state income tax purposes, respectively. The federal credit carryforwards begin to expire in 2028. California credits have no expiration date. Other state credit carryforwards begin to expire in 2026.

As of December 31, 2025, the Company also had scientific net research and development credit carryforwards of approximately $2.7 million available to reduce future taxable income liabilities, if any, for Canadian income tax purposes. The credit carryforwards begin to expire in 2026. The Company also has deductible scientific net research and development expenditures of $7.7 million available to reduce future taxable income, if any, and these deductions can be carried forward indefinitely.

Income Tax Payments

A summary of income taxes paid (net of refunds) pursuant to the disclosure requirements of ASU 2023-09 were as follows (in thousands):


	Years Ended December 31,
	2025		2024		2023
Federal:
States:
Georgia	$	217
Maryland	238
Missouri	196
New York	245
Pennsylvania	432
Tennessee	372
Virginia	275
Other	1,496
Total State	3,471
Foreign:
Israel	169
Total Foreign	169
Cash taxes paid during the period for income taxes (prior to ASU 2023-09)			$	2,236	$	1,697
Total income taxes paid (net of refunds)	$	3,640	$	2,236	$	1,697

Uncertain Tax Positions

As of December 31, 2025, the Company had unrecognized tax benefits of $9.6 million, none of which currently would affect the Company's effective tax rate if recognized due to the Company's deferred tax assets being fully offset by a valuation allowance. The Company does not anticipate that the amount of unrecognized tax benefits relating to tax positions existing at December 31, 2025 will significantly increase or decrease within the next 12 months.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Unrecognized tax benefits, beginning of period	$	7,176	$	5,687	$	4,888
Gross increases—tax position in prior period	774		469		37
Gross decreases—tax position in prior period	(45)		(29)		(11)
Gross increases—current period tax position	1,650		1,049		773
Lapse of statute of limitations	—		—		—
Unrecognized tax benefits, end of period	$	9,555	$	7,176	$	5,687

It is the Company's policy to include penalties and interest expense related to income taxes as a component of other income (expense), net, and interest expense, respectively, as necessary. There was no interest expense or penalties related to unrecognized tax benefits recorded through December 31, 2025.

The Company's major tax jurisdictions are the United States, Canada, France, and Israel. All of the Company's tax years will remain open for examination by the Federal and state tax authorities for three and four years, respectively, from the date of utilization of the net operating loss or research and development credit. The Company is not currently under any tax audits in any jurisdiction, with the exception of an audit of Veracyte SAS. In light of the ongoing bankruptcy proceedings for Veracyte SAS, the audit of its Research Tax Credits by the French Tax Authorities is deemed to be without practical consequence.

On July 4, 2025, the One Big Beautiful Bill Act, or the OBBBA, was signed into law. The legislation includes a broad range of tax reform provisions affecting businesses including, but not limited to, the reinstatement of 100% bonus depreciation, immediate expensing of domestic research and development costs, and revisions to the U.S. taxation of profits derived from international operations. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company has assessed the effects of the new tax legislation, including immediate expensing of domestic research and development expenditures, and the results have been reflected in the Form 10-K for the year ended December 31, 2025.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis of Presentation

Deconsolidation of Subsidiary

Reclassifications

Use of Estimates

Concentrations of Credit Risk and Other Risks and Uncertainties

Cash Equivalents

The Company considers demand deposits in a bank, money market funds and highly liquid investments with maturities at the time of purchase of three months or less to be cash equivalents.

Short-Term Investments

Acquisitions

Supplies and Inventory

Property and Equipment

Leases

Finite-lived Intangible Assets

Indefinite-lived Intangible Assets

Other Long-Lived Assets — Impairment Assessment

Goodwill

is performed comparing recorded values to estimated fair values. If impairment is present, the impairment loss is measured as the excess of the recorded goodwill over its implied fair value.

Fair Value of Financial Instruments

Revenue Recognition and Cost of Revenue

Revenue Recognition

Testing Revenue

Product Revenue

Biopharmaceutical and Other Revenue

Revenue included in biopharmaceutical and other revenue for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands of dollars):


	Year Ended December 31,
	2025		2024		2023
Biopharmaceutical revenue	$	6,536	$	7,149	$	13,874
Contract manufacturing and testing	3,128		6,004		5,047

Total	$	9,664	$	13,153	$	18,921

Cost of Testing Revenue

Cost of Product Revenue

Cost of Biopharmaceutical and Other Revenue

Research and Development

Income Taxes

Stock-based Compensation

Net Income (Loss) per Share

French Research Tax Credits

Foreign Currency Translation

Comprehensive Income (Loss)

Recent Accounting Pronouncements

Recently adopted accounting pronouncements

Recently issued accounting pronouncements not yet adopted

Fair Value Measurements

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

•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.

Fair Value Measurements - Narrative (Details) - USD ($)		12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 03, 2019	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Feb. 05, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits for leases		$ 1,600,000	$ 1,500,000
Acquisition-related contingent consideration, net of current portion		257,000	561,000
Short term contingent considerations		1,332,000	16,981,000
Payment of contingent consideration for acquisition		0	4,500,000	$ 0
Short-term investments		50,311,000	50,354,000
Short-term investments, fair value		50,400,000	50,400,000
Gross unrealized gains on short-term investments		100,000	0
Sale of short-term investments				40,000,000.0
Amortized cost of short-term investments sold				39,800,000
Proceeds from sale of short-term investments		0	0	39,773,000
Realized gains (losses) from sale of short-term investments		0	0	13,000
NanoString
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additional cash to be paid	$ 10,000,000.0
Acquisition-related contingent consideration, net of current portion	$ 6,100,000	1,600,000	3,200,000
Contingent consideration expense (reversal of expense)		(1,700,000)	100,000	$ (5,400,000)
Short term contingent considerations		1,300,000
C2i Inc
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration, net of current portion		0	14,300,000		$ 17,200,000
Contingent consideration expense (reversal of expense)		(13,600,000)	2,100,000
Maximum contingent consideration to be paid					$ 25,000,000
Payment of contingent consideration for acquisition		700,000	5,000,000.0
US Treasury Bill Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		50,300,000	50,400,000
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 29,300,000	$ 1,600,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 158,191	$ 183,912	$ 110,975
Research and development credits	18,607	14,074	10,728
Section 174 capitalization	25,453	32,612	17,388
Stock-based compensation	2,970	3,722	4,503
NanoString intangibles and goodwill	7,016	8,740	8,778
Operating lease liability	9,898	10,739	3,335
Accruals and other	6,362	8,170	7,128
Gross deferred tax assets	228,497	261,969	162,835
Valuation allowance	(197,301)	(227,984)	(139,920)
Net deferred tax assets	31,196	33,985	22,915
Deferred tax liabilities:
Property and equipment	(1,079)	(228)	(83)
Other acquired intangibles	(20,080)	(20,105)	(17,358)
In-process research and development	(1,548)	(4,787)	(3,461)
ROU assets	(9,135)	(10,092)	(2,747)
Gross deferred tax liabilities	(31,842)	(35,212)	(23,649)
Net deferred tax liabilities	(31,842)	(35,212)	(23,649)
Net deferred taxes	$ (646)	$ (1,227)	$ (734)

Income Taxes - Schedule of Effective Tax Rate Reconciliation After Adoption (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
U.S. federal statutory tax rate	$ 14,322	$ 5,407	$ (16,088)
Effect of cross-border tax laws	(5,570)
Tax effects of foreign branches	(5,546)
Other	(24)
Effect of changes in tax laws or rates enacted in the current period	0
Tax credits	(4,560)	(1,255)	(1,551)
R&D credits	(4,560)
Non-taxable or non-deductible items	5,334	529	419
Veracyte SAS deconsolidation	5,017
Non-deductible compensation	4,184
Stock-based compensation	1,065	381	739
Excess tax benefits on stock-based compensation	(3,401)
Transaction costs	738	263	477
Contingent consideration	(2,424)
Other	155
Change in valuation allowance		76,731	4,775
Other		(469)	(176)
State and local income taxes, net of federal income tax effect	801	(11,472)	(491)
Foreign tax effects	5,406
Foreign rate differential		3,939	9,049
Worldwide changes in unrecognized tax benefits	2,161
Total income tax provision (benefit)	$ 1,848	$ 1,606	$ (2,208)
Percent
U.S. federal statutory tax rate	21.00%
Effect of cross-border tax laws	(8.20%)
Tax effects of foreign branches	(8.10%)
Other	0.00%
Effect of changes in tax laws or rates enacted in the current period	0.00%
Tax credits	(6.70%)
R&D credits	(6.70%)
Non-taxable or non-deductible items	7.80%
Veracyte SAS deconsolidation	7.40%
Non-deductible compensation	6.10%
Stock-based compensation	1.60%
Excess tax benefits on stock-based compensation	(5.00%)
Transaction costs	1.10%
Contingent consideration	(3.60%)
Other	0.20%
State and local income taxes, net of federal income tax effect	1.20%
Foreign tax effects	7.90%
Worldwide changes in unrecognized tax benefits	3.20%
Grand total	2.70%
United States
Amount
Change in valuation allowance	$ (14,590)
Other	(1,456)
Federal deferred tax true-up	$ (1,456)
Percent
Change in valuation allowance	(21.40%)
Other	(2.10%)
Federal deferred tax true-up	(2.10%)
France
Amount
Change in valuation allowance	$ 811
Other	699
Foreign tax effects	5,577
Foreign rate differential	(1,277)
Deconsolidation loss	$ 5,344
Percent
Change in valuation allowance	1.20%
Other	1.00%
Foreign tax effects	8.20%
Foreign rate differential	(1.90%)
Deconsolidation loss	7.80%
Other foreign jurisdictions
Amount
Foreign tax effects	$ (171)
Percent
Foreign tax effects	(0.30%)

Components of Other Income, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Other Income and Expenses [Abstract]
Interest and dividend income	$ 12,724	$ 11,154	$ 7,344
Loss on deconsolidation of subsidiary	(6,708)	0	0
Interest expense	(1)	(2)	(15)
Gain (loss) on currency revaluation	3,973	(2,045)	723
Other	436	495	1,131
Total	$ 10,424	$ 9,602	$ 9,183

Stock Incentive Plans - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 43,601	$ 36,249	$ 33,141
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,286	2,319	1,779
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	7,919	7,511	5,277
Selling and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	8,317	6,897	9,588
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 25,079	$ 19,522	$ 16,497

Summary of Significant Accounting Policies - Schedule of Revenues Included in Biopharmaceutical and Other Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 517,145	$ 445,764	$ 361,051
Biopharmaceutical and other revenue
Disaggregation of Revenue [Line Items]
Total revenue	9,664	13,153	18,921
Biopharmaceutical revenue
Disaggregation of Revenue [Line Items]
Total revenue	6,536	7,149	13,874
Contract manufacturing and testing
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,128	$ 6,004	$ 5,047

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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+ 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/exampleRef
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+ Details

Income Taxes - Schedule of Effective Tax Rate Reconciliation Before Adoption (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal taxes at statutory rate	$ 14,322	$ 5,407	$ (16,088)
State tax (net of federal benefit)	801	(11,472)	(491)
Foreign rate differential		3,939	9,049
Non-deductible officers' compensation		2,271	639
Transaction costs	738	263	477
Permanent differences	5,334	529	419
Stock based compensation - excess benefit	1,065	381	739
Tax credits	(4,560)	(1,255)	(1,551)
Foreign worthless stock deduction		(74,719)	0
Other		(469)	(176)
Change in valuation allowance		76,731	4,775
Total income tax provision (benefit)	$ 1,848	$ 1,606	$ (2,208)

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Diego, California

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

Schedule of Supplies and Inventory

As of December 31, 2025 and 2024, supplies and inventory consisted of the following (in thousands of dollars):


	December 31, 2025		December 31, 2024
Supplies	$	20,546	$	17,876
Inventory	—		3,874
Total supplies and inventory	$	20,546	$	21,750

Schedule of Property and Equipment

Property and equipment consisted of the following (in thousands of dollars):


	December 31,
	2025		2024
Leasehold improvements	$	12,377	$	10,625
Laboratory equipment	36,717		33,729
Computer equipment	7,039		6,959
Software, including software developed for internal use	6,856		6,878
Furniture and fixtures	2,683		4,045
Construction-in-process	—		106
Total property and equipment, at cost	65,672		62,342
Accumulated depreciation	(43,480)		(39,389)
Total property and equipment, net	$	22,192	$	22,953

Schedule of Intangible Assets

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):


	December 31, 2025						December 31, 2024						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	$	(11,467)	$	4,533	$	16,000	$	(10,400)	$	5,600	4.2
Prosigna product technology	4,120		(1,671)		2,449		4,120		(1,396)		2,724		8.9
Decipher product technology	97,300		(43,558)		53,742		90,000		(34,234)		55,766		6.4
Decipher trade names	4,000		(3,843)		157		4,000		(3,043)		957		0.2
C2i developed technology	25,300		(3,233)		22,067		25,300		(1,546)		23,754		13.1
Total finite lived intangibles	146,720		(63,772)		82,948		139,420		(50,619)		88,801		8.1
In-process research and development	6,200		—		6,200		13,500		—		13,500
Total intangible assets	$	152,920	$	(63,772)	$	89,148	$	152,920	$	(50,619)	$	102,301

Schedule of Future Aggregate Amortization Expense

The estimated future aggregate amortization expense as of December 31, 2025 is as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2026	$	12,672
2027	12,515
2028	12,515
2029	12,515
2030	11,715
Thereafter	21,016
Total	$	82,948

Schedule of Major Classes of Asset and Liabilities Deconsolidated and Loss on Deconsolidation

The following table summarizes the major classes of assets and liabilities of Veracyte SAS that were deconsolidated as of August 1, 2025 (in thousands of dollars):


	Amounts
Current assets:
Cash and cash equivalents	$	2,845
Accounts receivable	2,087
Supplies and inventory	4,318
Prepaid expenses and other current assets	3,751
Total current assets	13,001
Property, plant and equipment, net	804
Right-of-use assets, operating leases	673
Total assets deconsolidated	14,478
Current liabilities:
Accounts payable	(3,171)
Accrued liabilities	(6,004)
Total current liabilities	(9,175)
Operating lease liabilities	(9,459)
Total liabilities deconsolidated	(18,634)
Net liabilities deconsolidated	$	(4,156)

The loss on deconsolidation was calculated as follows (in thousands of dollars):


	Twelve Months Ended December 31, 2025
Net liabilities deconsolidated	$	(4,156)
Release of accumulated translation adjustment	8,295
Recording of accounts payable to subsidiary	769
Other expenses	1,800
Net loss on deconsolidation	$	6,708

Schedule of Accrued Liabilities

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


	December 31,
	2025		2024
Accrued compensation expense	$	27,459	$	30,595
Accrued other	21,342		13,231
Total accrued liabilities	$	48,801	$	43,826

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Veracyte, Inc., or Veracyte, or the Company, is a global diagnostics company that provides clinicians with tests for patients with, or potentially facing, a cancer diagnosis. Veracyte's tests are used by clinicians for diagnostic, prognostic and treatment decisions. The Company’s headquarters are in South San Francisco, California, and it has operations in San Diego, California, Austin, Texas, and Haifa, Israel. The Company currently offers tests in prostate cancer (Decipher Prostate); thyroid cancer (Afirma); breast cancer (Prosigna); and bladder cancer (Decipher Bladder). In addition, the Company’s Percepta Nasal Swab test is being run in its Clinical Laboratory Improvement Amendments of 1988, or CLIA, certified lab in support of clinical studies. The Company serves global markets with two complementary models. In the United States, it offers laboratory developed tests, or LDTs, through its centralized, 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. In February 2024, the Company acquired C2i Genomics, Inc., a minimal residual disease, or MRD, detection company. Refer to Note 4, Business Combination, for additional information.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2025
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans 401(k) plan The Company sponsors a 401(k) defined contribution plan covering all employees. Under the plan, participants are entitled to make pre-tax contributions up to the annual maximums established by the Internal Revenue Service. The Company, at its discretion, may make matching contributions to the 401(k) plan. Employer contributions to the plan were $2.9 million, $1.6 million and $1.5 million for the years ended December 31, 2025, 2024, and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Summary of Significant Accounting Policies - Schedule of Third-party Payers And Other Customers (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue \| Customers Representing >10% Of Total Revenue
Concentration Risk [Line Items]
Concentration risk	47.00%	44.00%	42.00%
Revenue \| Medicare
Concentration Risk [Line Items]
Concentration risk	33.00%	31.00%	31.00%
Revenue \| UnitedHealthcare
Concentration Risk [Line Items]
Concentration risk	14.00%	13.00%	11.00%
Accounts receivable \| Medicare
Concentration Risk [Line Items]
Concentration risk	20.00%	16.00%
Accounts receivable \| UnitedHealthcare
Concentration Risk [Line Items]
Concentration risk	14.00%	12.00%

- 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

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

Commitments and Contingencies - Narrative (Details) $ in Millions	Jun. 04, 2025 patent	May 01, 2025 patent	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term			11 years 2 months 12 days
Deposits			$ 1.6	$ 1.5
Discount rate			11.40%
Purchase obligation			$ 44.0
Number of patents allegedly infringed \| patent	2	3

Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Activity Under the Company's Stock Incentive Plans

The following table summarizes activity under the Company's stock incentive plans (aggregate intrinsic value in thousands):


	Stock Options Outstanding and Unvested Restricted Stock Units	Weighted Average Exercise Price of Stock Options		Weighted Average Remaining Contractual Life of Stock Options (Years)	Aggregate Intrinsic Value of Stock Options
Balance—December 31, 2024	5,773,382	$	25.11	5.74	$	38,056

Granted - restricted stock units	1,423,977
Canceled	(472,983)	10.59
Exercised	(591,008)	18.66
Restricted stock units vested	(1,326,375)
Balance—December 31, 2025	4,806,993	$	26.41	5.28	$	28,887

Options vested and exercisable—December 31, 2025	1,513,876	$	26.86	5.00	$	24,680
Options vested and expected to vest—December 31, 2025	1,722,236	$	26.44	5.26	$	28,580

Schedule of Share-Based Compensation Expense


	Year Ended December 31,
	2025		2024		2023
Cost of revenue	$	2,286	$	2,319	$	1,779
Research and development	7,919		7,511		5,277
Selling and marketing	8,317		6,897		9,588
General and administrative	25,079		19,522		16,497
Total stock-based compensation expense	$	43,601	$	36,249	$	33,141

Schedule of Assumptions Used to Calculate Fair Value of Stock Options Using the Black-Scholes Model

During the year ended December 31, 2023, the estimated grant-date fair value of employee stock options using the Black-Scholes option-pricing model was based on the following assumptions:


			Year Ended December 31, 2023
Weighted-average volatility			68.82 - 69.78%
Weighted-average expected term (years)			5.44 - 5.66
Risk-free interest rate			3.51 - 4.72%
Expected dividend yield			—

The estimated grant date fair value of the ESPP shares was calculated using the Black-Scholes option-pricing model, based on the following assumptions:


	Year Ended December 31,
	2025	2024	2023
Weighted-average volatility	46.68% - 54.09%	46.29 - 51.73%	54.86 - 83.69%
Weighted-average expected term (years)	0.50 - 1.00	0.50 - 1.00	0.50 - 1.00
Risk-free interest rate	3.83% - 4.24%	4.57 - 5.09%	4.61 - 5.46%
Expected dividend yield	—	—	—

Balance Sheet Components

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Supplies and Inventory

As of December 31, 2025 and 2024, supplies and inventory consisted of the following (in thousands of dollars):


	December 31, 2025		December 31, 2024
Supplies	$	20,546	$	17,876
Inventory	—		3,874
Total supplies and inventory	$	20,546	$	21,750

Property and Equipment, Net

Property and equipment consisted of the following (in thousands of dollars):


	December 31,
	2025		2024
Leasehold improvements	$	12,377	$	10,625
Laboratory equipment	36,717		33,729
Computer equipment	7,039		6,959
Software, including software developed for internal use	6,856		6,878
Furniture and fixtures	2,683		4,045
Construction-in-process	—		106
Total property and equipment, at cost	65,672		62,342
Accumulated depreciation	(43,480)		(39,389)
Total property and equipment, net	$	22,192	$	22,953

Depreciation expense was $8.3 million, $8.6 million and $6.6 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Intangible Assets, Net


	December 31, 2025						December 31, 2024						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	$	(11,467)	$	4,533	$	16,000	$	(10,400)	$	5,600	4.2
Prosigna product technology	4,120		(1,671)		2,449		4,120		(1,396)		2,724		8.9
Decipher product technology	97,300		(43,558)		53,742		90,000		(34,234)		55,766		6.4
Decipher trade names	4,000		(3,843)		157		4,000		(3,043)		957		0.2
C2i developed technology	25,300		(3,233)		22,067		25,300		(1,546)		23,754		13.1
Total finite lived intangibles	146,720		(63,772)		82,948		139,420		(50,619)		88,801		8.1
In-process research and development	6,200		—		6,200		13,500		—		13,500
Total intangible assets	$	152,920	$	(63,772)	$	89,148	$	152,920	$	(50,619)	$	102,301

Amortization of the finite-lived intangible assets is recognized on a straight-line basis. Amortization of $13.2 million, $14.8 million and $20.6 million was recognized for the years ended December 31, 2025, 2024, and 2023, respectively.

The estimated future aggregate amortization expense as of December 31, 2025 is as follows (in thousands of dollars):


Year Ending December 31,	Amounts
2026	$	12,672
2027	12,515
2028	12,515
2029	12,515
2030	11,715
Thereafter	21,016
Total	$	82,948

Impairment of Assets

On July 16, 2025, the Marseille Commercial Court published a decision approving the divestiture of the contract manufacturing portion of the Company's French subsidiary, Veracyte SAS, to Helio Diagnostics SAS, effective August 1, 2025. The remaining assets of Veracyte SAS will be managed by the judicial administrator until such time that the Marseille Commercial Court appoints a judicial liquidator to solely initiate and manage liquidation proceedings. Effective August 1, 2025, the Company ceased to have a controlling interest in Veracyte SAS. As the Company began judicial restructuring proceedings affecting Veracyte SAS with the Marseille Commercial Court in the second quarter of 2025, the Company evaluated whether the associated assets of Veracyte SAS were impaired. The Company concluded, during the second quarter of 2025, that the long-lived assets of the Veracyte SAS asset group were not recoverable. As a result, the Company recorded a $20.5 million non-cash impairment charge for the year ended December 31, 2025. The impairment related primarily to the Company's right-of-use assets; property, plant, and equipment; and certain tax credits. The impairment is included within the impairment of assets in the consolidated statement of operations. The divestiture did not meet the criteria for discontinued operations under ASC 205-20 as the Company concluded it does not represent a strategic shift in the Company’s operations.

During 2024, the Company concluded it had a triggering event requiring assessment of impairment for certain of its long-lived assets related to declines in future revenue expectations in the Company's IVD services. As a result, the Company

reviewed the long-lived assets for impairment and recorded a $2.7 million impairment charge associated with its HalioDx developed technology, customer relationships and customer backlog finite-lived intangible assets. Impairment of assets for the year ended December 31, 2024 also includes $0.6 million of impairment right-of-use and fixed assets in relation to exiting the C2i Watertown, Massachusetts facility.

During 2023, the Company concluded it had a triggering event requiring assessment of impairment for certain of its long-lived assets in conjunction with management’s decision to adopt a multi-platform IVD strategy. Management believes that a multi-platform strategy will enable the Company to more rapidly reach more patients globally with its tests. As a result, the Company reviewed the long-lived assets for impairment and recorded a $34.9 million impairment charge associated with its nCounter Dx license finite-lived intangible asset. In addition, during 2023, the Company concluded that it had a triggering event requiring assessment of impairment for certain of its long-lived assets related to HalioDx biopharmaceutical services. This determination was due to spending constraints across the industry and loss of customers, which resulted in a significant decline in management’s current and future revenue and cash flow expectations for this product offering. As a result, the Company recorded a $32.0 million impairment charge associated with its HalioDx developed technology, customer relationships and customer backlog finite-lived intangible assets. Both impairments are recorded within impairment of assets on the consolidated statement of operations.

The Company assessed the impairment of the intangible assets using an income approach which involved significant unobservable inputs, which are Level III inputs, including revenue projections and cash flow projections. This method is consistent with the methods the Company employed in prior periods to value other long-lived assets.

Deconsolidation of Wholly-Owned Subsidiary

Effective August 1, 2025, the Company ceased to have a controlling interest in its wholly-owned French subsidiary, Veracyte SAS. Accordingly, the Company derecognized the related assets and liabilities from its consolidated financial statements. Prior to deconsolidation, the operating results and cash flows of Veracyte SAS were included in the Company’s consolidated financial statements. The Company has no continuing involvement with Veracyte SAS and has entered into a contract manufacturing agreement with Helio Diagnostics SAS, an unrelated party, for the manufacture of certain IVD products.

In accordance with ASC 810, Consolidation, the Company recognized a loss on deconsolidation of approximately $6.7 million, which is included in other income, net in the consolidated statements of operations for the year ended December 31, 2025. The Company recognized outstanding accounts payable to the subsidiary at the time of deconsolidation for intercompany purchases from the subsidiary. The functional currency of Veracyte SAS was the Euro. With the deconsolidation of Veracyte SAS, the Company released the related accumulated foreign currency translation adjustment from accumulated other comprehensive income into earnings. The loss on deconsolidation was calculated as the carrying amount of the former subsidiary’s net liabilities as of the deconsolidation date less the release of the accumulated foreign currency translation, recording of accounts payable and other expenses. The deconsolidation did not have a material effect on the Company’s ongoing operations or liquidity. The fair market value of Veracyte SAS was deemed to be zero, consequently no goodwill was allocated.

The following table summarizes the major classes of assets and liabilities of Veracyte SAS that were deconsolidated as of August 1, 2025 (in thousands of dollars):


	Amounts
Current assets:
Cash and cash equivalents	$	2,845
Accounts receivable	2,087
Supplies and inventory	4,318
Prepaid expenses and other current assets	3,751
Total current assets	13,001
Property, plant and equipment, net	804
Right-of-use assets, operating leases	673
Total assets deconsolidated	14,478
Current liabilities:
Accounts payable	(3,171)
Accrued liabilities	(6,004)
Total current liabilities	(9,175)
Operating lease liabilities	(9,459)
Total liabilities deconsolidated	(18,634)
Net liabilities deconsolidated	$	(4,156)

The loss on deconsolidation was calculated as follows (in thousands of dollars):


	Twelve Months Ended December 31, 2025
Net liabilities deconsolidated	$	(4,156)
Release of accumulated translation adjustment	8,295
Recording of accounts payable to subsidiary	769
Other expenses	1,800
Net loss on deconsolidation	$	6,708

Net cash outflows arising from the deconsolidation of the subsidiary was $2.9 million during the year ended December 31, 2025 related to the balance of cash and cash equivalents deconsolidated.

Goodwill

Goodwill was $767.2 million and $745.8 million as of December 31, 2025 and 2024, respectively. The changes in the carrying amounts of goodwill during the year ended December 31, 2025 were due to foreign currency translation. The Company has not recorded any impairment related to goodwill.

Accrued Liabilities

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


	December 31,
	2025		2024
Accrued compensation expense	$	27,459	$	30,595
Accrued other	21,342		13,231
Total accrued liabilities	$	48,801	$	43,826

Stock Incentive Plans - Schedule of Assumptions to Calculate Stock Options Using the Black-Scholes Model (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average minimum volatility			68.82%
Weighted-average maximum volatility			69.78%
Risk-free minimum interest rate			3.51%
Risk-free maximum interest rate			4.72%
Expected dividend yield	0.00%		0.00%
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average minimum volatility	46.68%	46.29%	54.86%
Weighted-average maximum volatility	54.09%	51.73%	83.69%
Risk-free minimum interest rate	3.83%	4.57%	4.61%
Risk-free maximum interest rate	4.24%	5.09%	5.46%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum \| Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected term (years)			5 years 5 months 8 days
Minimum \| Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected term (years)	6 months	6 months	6 months
Maximum \| Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected term (years)			5 years 7 months 28 days
Maximum \| Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected term (years)	1 year	1 year	1 year

Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 146,720	$ 139,420
Accumulated Amortization	(63,772)	(50,619)
Net Carrying Amount	$ 82,948	88,801
Weighted Average Remaining Amortization Period (Years)	8 years 1 month 6 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Total intangible assets	$ 152,920	152,920
Accumulated Amortization	(63,772)	(50,619)
Intangible assets, net	89,148	102,301
In-process research and development
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	6,200	13,500
Percepta product technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	16,000	16,000
Accumulated Amortization	(11,467)	(10,400)
Net Carrying Amount	$ 4,533	5,600
Weighted Average Remaining Amortization Period (Years)	4 years 2 months 12 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Accumulated Amortization	$ (11,467)	(10,400)
Prosigna product technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	4,120	4,120
Accumulated Amortization	(1,671)	(1,396)
Net Carrying Amount	$ 2,449	2,724
Weighted Average Remaining Amortization Period (Years)	8 years 10 months 24 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Accumulated Amortization	$ (1,671)	(1,396)
Decipher product technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	97,300	90,000
Accumulated Amortization	(43,558)	(34,234)
Net Carrying Amount	$ 53,742	55,766
Weighted Average Remaining Amortization Period (Years)	6 years 4 months 24 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Accumulated Amortization	$ (43,558)	(34,234)
Decipher trade names
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	4,000	4,000
Accumulated Amortization	(3,843)	(3,043)
Net Carrying Amount	$ 157	957
Weighted Average Remaining Amortization Period (Years)	2 months 12 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Accumulated Amortization	$ (3,843)	(3,043)
C2i developed technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	25,300	25,300
Accumulated Amortization	(3,233)	(1,546)
Net Carrying Amount	$ 22,067	23,754
Weighted Average Remaining Amortization Period (Years)	13 years 1 month 6 days
Intangible Assets, Net (Including Goodwill) [Abstract]
Accumulated Amortization	$ (3,233)	$ (1,546)

Segment - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 517,145	$ 445,764	$ 361,051
United States
Segment Reporting Information [Line Items]
Total revenue	496,598	423,537	334,525
International
Segment Reporting Information [Line Items]
Total revenue	$ 20,547	$ 22,227	$ 26,526

- Definition

+ References

+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2025	Dec. 31, 2024
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)	79,359,005	77,772,678
Common stock, shares, outstanding (in shares)	79,359,005	77,772,678

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Pre-tax income (loss)	$ 68,201,000	$ 25,744,000	$ (76,612,000)
Income tax provision (benefit)	1,848,000	1,606,000	(2,208,000)
Worthless stock deduction		356,000,000
Foreign worthless stock deduction		74,719,000	0
Increase (decrease) in valuation allowance against deferred tax assets	(30,700,000)	88,100,000	14,500,000
Unrecognized tax benefits	9,555,000	$ 7,176,000	$ 5,687,000	$ 4,888,000
Unrecognized tax benefits which would affect effective tax rate if recognized	0
Interest expense or penalties related to unrecognized tax benefits	0
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	561,900,000
Net operating loss carryforwards subject to expiration	57,500,000
Tax credit carryforward	$ 15,800,000
Income tax examination period	3 years
States:
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 11,000,000.0
Income tax examination period	4 years
California
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 113,300,000
Non-California States
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	298,400,000
CANADA
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	65,700,000
CANADA \| Expire in 2026
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	2,700,000
CANADA \| Carried Forward Indefinitely
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 7,700,000

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation expense	$ 8,300	$ 8,600	$ 6,600
Amortization of finite-lived intangible assets	13,200	14,800	20,600
Non-cash impairment charge	20,505	3,368	68,349
Impairment of finite-lived intangible assets	$ 0	$ 2,700	$ 66,900
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Non-cash impairment charge	Non-cash impairment charge	Non-cash impairment charge
Impairment of other long-lived assets	$ 20,500	$ 600	$ 0
Loss on deconsolidation of subsidiary	6,708	0	0
Net cash outflows from deconsolidation	2,900
Goodwill	$ 767,154	745,800
C2i Watertown, MA Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of other long-lived assets		$ 600
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]		Non-cash impairment charge
HalioDX Developed Technology, Customer Relationships And Customer Backlog
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of finite-lived intangible assets		$ 2,700	32,000
nCounter Dx License
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of finite-lived intangible assets			$ 34,900

Business Combination (Details) - USD ($) $ in Thousands, shares in Millions		12 Months Ended
	Feb. 05, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Business Combination [Line Items]
Contingent consideration		$ 257	$ 561
Payment of contingent consideration for acquisition		0	4,500	$ 0
C2i
Business Combination [Line Items]
Equity interest acquired	100.00%
Acquisition consideration	$ 100,200
Value of shares in acquisition consideration	73,300
Contingent consideration	17,200
Payment of contingent consideration for acquisition		$ 700	$ 5,000
C2i \| Options
Business Combination [Line Items]
Value of shares in acquisition consideration	$ 800
C2i \| Common Stock
Business Combination [Line Items]
Shares transferred in acquisition (in shares)	2.7

Fair Value Measurements - Schedule of Fair Value Measurement Input (Details)	Dec. 31, 2025	Dec. 31, 2024
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.048
Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.051
Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.062
Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.053
Probability of achievement \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.04	0.10
Probability of achievement \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.40	0.90
Probability of achievement \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.34	0.86

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Line Items]
Intangible asset amortization - operating expenses	$ 13,200,000	$ 14,800,000	$ 20,600,000
Short-term investments, allowance for expected credit losses	0	0
Deposits	$ 1,600,000	1,500,000
Weighted Average Remaining Amortization Period (Years)	8 years 1 month 6 days
Impairment of finite-lived intangible assets	$ 0	2,700,000	66,900,000
Impairment of indefinite-lived intangible assets	0	0	0
Impairment of other long-lived assets	20,500,000	600,000	0
Impairment of goodwill	0	0	0
Total revenue	517,145,000	445,764,000	361,051,000
Accounts receivable	44,660,000	46,525,000
Other Testing Revenue
Accounting Policies [Line Items]
Total revenue	6,200,000	11,800,000	7,800,000
Biopharmaceutical and other revenue
Accounting Policies [Line Items]
Total revenue	9,664,000	13,153,000	18,921,000
Accounts receivable	3,600,000	3,800,000
Deferred revenue	$ 1,200,000	1,700,000
Minimum
Accounting Policies [Line Items]
Property and equipment useful lives	3 years
Weighted Average Remaining Amortization Period (Years)	5 years
Maximum
Accounting Policies [Line Items]
Property and equipment useful lives	5 years
Weighted Average Remaining Amortization Period (Years)	15 years
Amortization Of Intangible Assets
Accounting Policies [Line Items]
Intangible asset amortization - operating expenses		$ 400,000	$ 500,000

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Earnings Per Share

The following table sets forth the computation of basic and diluted EPS (in thousands, except per-share amounts):


	Year Ended December 31,
	2025		2024		2023
Numerator for basic and diluted EPS — net income (loss) (A)	$	66,353	$	24,138	$	(74,404)
Denominator for basic EPS — weighted average shares (B)	78,584		76,485		72,644
Effect of potentially dilutive common stock from:
Shares of common stock subject to outstanding options	502		553		—
Restricted stock units	1,440		1,087		—
Employee stock purchase plan	47		38		—
Dilutive potential common shares	1,989		1,678		—
Denominator for diluted EPS — adjusted weighted average shares and assumed conversions (C)	80,573		78,163		72,644
Basic EPS (A / B)	$	0.84	$	0.32	$	(1.02)
Diluted EPS (A / C)	$	0.82	$	0.31	$	(1.02)
Common stock equivalent shares excluded from the dilutive calculation due to antidilutive effect:
Shares of common stock subject to outstanding options	493		1,802		3,821
Restricted stock units	41		90		2,714
Employee stock purchase plan	—		—		35
Anti-dilutive potential common shares	534		1,892		6,570

Income Taxes - Schedule of Pre-Tax Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
United States	$ 95,477	$ 44,197	$ (15,853)
Foreign	(27,276)	(18,453)	(60,759)
Income (loss) before income taxes	$ 68,201	$ 25,744	$ (76,612)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	As one of the critical elements of our overall ERM approach, our cybersecurity program is focused on the following key areas: Governance: As discussed in more detail under the heading “Governance,” the board of directors' oversight of cybersecurity risk management is supported by the Audit Committee of the board of directors, or the Audit Committee, our Chief Information Officer, or CIO, other members of management and relevant management committees as appropriate. Collaborative Approach: We have implemented a cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner. Technical Safeguards: We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. Physical Safeguards: We deploy physical safeguards such as facility access control via keycard access and security cameras. In addition, workstation and device security is controlled with proper logging and identity access controls to protect our physical assets. Administrative Safeguards: We have implemented policies, security standards and procedures to ensure proper user and protection of our assets. We maintain cybersecurity risk insurance coverage to provide financial protection in the event a cybersecurity breach was to occur. Education and Awareness: We provide regular, mandatory, and ongoing training and reinforcement for personnel regarding cybersecurity threats to help equip our personnel with tools to address such threats, and to communicate our evolving information security policies, standards, processes and practices. Incident Response and Recovery Planning: We have established and maintain a cybersecurity incident response plan that addresses our response to a cybersecurity incident. Third-Party Risk Management: We maintain a risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems that could adversely impact our business in the event of a cybersecurity incident. We engage in the periodic assessment and testing of our policies, standards, processes and practices that are designed to address cybersecurity threats and incidents. These efforts include a range of activities, including audits, assessments, vulnerability testing and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. We regularly engage third parties to perform assessments on our cybersecurity measures. The results of such assessments, audits and reviews are reported to the Audit Committee and the board of directors, and we adjust our cybersecurity policies, standards, processes and practices as necessary based on the information provided by these assessments, audits and reviews.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our board of directors recognizes the critical importance of maintaining the trust and confidence of our customers, patients, business partners and employees. Our board of directors is actively involved in oversight of our risk management program, and cybersecurity represents an important component of our overall approach to enterprise risk management, or ERM. Our cybersecurity policies, standards, processes and practices continue to be incorporated into our ERM program and are based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. In general, we seek to address cybersecurity risks through a cross-functional approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The board of directors, in coordination with the Audit Committee, oversees our management of risks arising from cybersecurity threats. The board of directors and the Audit Committee each receive presentations and reports on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The board of directors and the Audit Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. On an annual basis, the board of directors and the Audit Committee discuss our approach to cybersecurity risk management with the members of management, including the CIO.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The board of directors, in coordination with the Audit Committee, oversees our management of risks arising from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The board of directors and the Audit Committee each receive presentations and reports on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The board of directors and the Audit Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed.
Cybersecurity Risk Role of Management [Text Block]	The Cybersecurity Executive Leadership Team is composed of the CIO, in coordination with our Chief Executive Officer, or CEO, Chief Financial Officer, or CFO, Chief Compliance Officer and General Counsel, or GC. The team works collaboratively across our company to design and implement programs to protect our information systems from cybersecurity threats and to appropriately respond to any cybersecurity incidents in accordance with our cybersecurity incident response plan. To facilitate the success of our cybersecurity risk management program, multidisciplinary teams throughout our company are engaged to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CIO and the Cybersecurity Executive Leadership Team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time, and report such threats and incidents to the Audit Committee when appropriate. Our CIO brings more than 20 years of information and operational leadership experience in the life sciences and technology industries to his role at Veracyte. He holds a B.B.A. and an M.B.A from the University of San Diego. Our VP, Global IT Operations oversees IT operations for all sites globally, and has more than 20 years of experience. He holds an M.S. in Business Technology Management, and a B.S. in Computer Applications and Networks from Coleman University. Our Director of Cybersecurity has over 25 years of experience in enhancing digital security and driving technological innovation. He holds a B.Sc. (Honors) in Computer Information Systems from the National University along with several industry related Cybersecurity certifications.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Cybersecurity Executive Leadership Team is composed of the CIO, in coordination with our Chief Executive Officer, or CEO, Chief Financial Officer, or CFO, Chief Compliance Officer and General Counsel, or GC.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO brings more than 20 years of information and operational leadership experience in the life sciences and technology industries to his role at Veracyte. He holds a B.B.A. and an M.B.A from the University of San Diego. Our VP, Global IT Operations oversees IT operations for all sites globally, and has more than 20 years of experience. He holds an M.S. in Business Technology Management, and a B.S. in Computer Applications and Networks from Coleman University. Our Director of Cybersecurity has over 25 years of experience in enhancing digital security and driving technological innovation. He holds a B.Sc. (Honors) in Computer Information Systems from the National University along with several industry related Cybersecurity certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Cybersecurity Executive Leadership Team is composed of the CIO, in coordination with our Chief Executive Officer, or CEO, Chief Financial Officer, or CFO, Chief Compliance Officer and General Counsel, or GC. The team works collaboratively across our company to design and implement programs to protect our information systems from cybersecurity threats and to appropriately respond to any cybersecurity incidents in accordance with our cybersecurity incident response plan. To facilitate the success of our cybersecurity risk management program, multidisciplinary teams throughout our company are engaged to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CIO and the Cybersecurity Executive Leadership Team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time, and report such threats and incidents to the Audit Committee when appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 66,353	$ 24,138	$ (74,404)
Other comprehensive income (loss):
Change in currency translation adjustments	19,583	(12,072)	7,328
Release of accumulated translation adjustment	8,295	0	0
Other comprehensive income (loss)	27,878	(12,072)	7,328
Net comprehensive income (loss)	$ 94,231	$ 12,066	$ (67,076)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
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+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

Stockholders' Equity - Narrative (Details)	12 Months Ended
Stockholders' Equity - Narrative (Details)	Dec. 31, 2025 USD ($) vote $ / shares shares	Dec. 31, 2024 $ / shares shares
Equity [Abstract]
Common stock, shares authorized (in shares) \| shares	125,000,000	125,000,000
Par value of shares of common stock (in USD per share) \| $ / shares	$ 0.001	$ 0.001
Number of votes for each share of stock \| vote	1
Dividends declared \| $	$ 0

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

As of December 31, 2025 and 2024, the Company had reserved shares of common stock for issuance as follows:


	December 31,
	2025	2024
Stock options and restricted stock units issued and outstanding	4,806,993	5,773,382
Stock options and restricted stock units available for grant under stock option plans	10,937,821	8,971,566
Common stock available for the Employee Stock Purchase Plan	895,255	1,051,407
Total	16,640,069	15,796,355

- 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.

+ References

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+ Details

Stock Incentive Plans - Schedule of Activity Under Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Stock Options Outstanding and Unvested Restricted Stock Units
Balance at beginning of the period (in shares)	5,773,382
Granted (in shares)	0	0
Canceled (in shares)	(472,983)
Exercised (in shares)	(591,008)
Balance at the end of the period (in shares)	4,806,993	5,773,382
Options vested and exercisable at the end of the period (in shares)	1,513,876
Options vested and expected to vest at the end of the period (in shares)	1,722,236
Weighted Average Exercise Price of Stock Options
Balance at beginning of the period (in USD per share)	$ 25.11
Canceled (in USD per share)	10.59
Exercised (in USD per share)	18.66
Balance at the end of the period (in USD per share)	26.41	$ 25.11
Options vested and exercisable at the end of the period (in USD per share)	26.86
Options vested and expected to vest at the end of the period (in USD per share)	$ 26.44
Weighted Average Remaining Contractual Life of Stock Options (Years)
Remaining contractual life of stock options at beginning and end of period	5 years 3 months 10 days	5 years 8 months 26 days
Options vested and exercisable at the end of the period	5 years
Options vested and expected to vest at the end of the period	5 years 3 months 3 days
Aggregate Intrinsic Value of Stock Options
Balance at beginning of period	$ 38,056
Balance at end of period	28,887	$ 38,056
Options vested and exercisable at the end of the period	24,680
Options vested and expected to vest at the end of the period	$ 28,580
Restricted stock units
Stock Options Outstanding and Unvested Restricted Stock Units
Granted (in shares)	1,423,977
Vested (in shares)	(1,326,375)
Aggregate Intrinsic Value of Stock Options
Options vested and expected to vest at the end of the period	$ 40,800	$ 27,100

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2025	Feb. 20, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1.7
Entity Common Stock, Shares Outstanding (in shares)		79,458,427
Documents Incorporated by Reference	Portions of the registrant's proxy statement to be filed with the Securities and Exchange Commission in connection with the solicitation of proxies for the registrant's 2026 Annual Meeting of Stockholders, or the Proxy Statement, are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. The Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the end of the registrant’s fiscal year ended December 31, 2025.
Entity Central Index Key	0001384101
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY

Consolidated Statements of Cash Flows (Cash Reconciliation) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]
Cash and cash equivalents	$ 362,578	$ 239,087	$ 216,454
Restricted cash	1,648	1,544	876
Total cash, cash equivalents and restricted cash	$ 364,226	$ 240,631	$ 217,330

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Marc Stapley [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Marc Stapley, Chief Executive Officer, adopted a new trading plan on November 24, 2025 (with the first trade under the new plan scheduled for approximately March 3, 2026). The trading plan will be effective until August 31, 2026 to sell an aggregate of (i) 138,051 shares of our common stock, plus (ii) 100% of the net shares resulting from the vesting of 69,476 restricted stock units during the plan period (net shares are net of tax withholding).
Name	Marc Stapley
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 24, 2025
Expiration Date	August 31, 2026
Arrangement Duration	181 days
Robert Epstein [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Robert Epstein, director, adopted a new trading plan on December 5, 2025 (with the first trade under the new plan scheduled for approximately March 6, 2026). The trading plan will be effective until March 5, 2027 to sell an aggregate of 10,000 shares of our common stock.
Name	Robert Epstein
Title	director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 5, 2025
Expiration Date	March 5, 2027
Arrangement Duration	364 days
Aggregate Available	10,000
Marc Stapley Trading Arrangement, Common Stock [Member] \| Marc Stapley [Member]
Trading Arrangements, by Individual
Aggregate Available	138,051
Marc Stapley Trading Arrangement, Vested Restricted Stock Units (RSUs) [Member] \| Marc Stapley [Member]
Trading Arrangements, by Individual
Aggregate Available	69,476