Veracyte's stock surged 16.73% in after-hours trading following the release of its first-quarter financial results, which significantly exceeded analyst expectations.
The diagnostic company reported quarterly earnings of $0.52 per share, beating the consensus estimate of $0.15 by 246.67%. Revenue for the quarter reached $139.1 million, surpassing estimates of $130 million and representing a 21% year-over-year increase. Net income saw a dramatic rise of 307% to $28.7 million, while adjusted EBITDA increased 73% to $42.8 million.
Veracyte also raised its full-year 2026 guidance, increasing its adjusted EBITDA margin outlook to greater than 26% and projecting total revenue between $582 million and $592 million. The company cited strong performance across its testing portfolio and upcoming product launches as key drivers for the positive outlook.
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