Veracyte Reports Q3 2026 Revenue Growth Driven by Afirma and Decipher Prostate
Veracyte (VCYT) reported third-quarter 2026 revenue of $151.8 million, a 15% increase year-over-year. The growth was primarily driven by its testing business, with Afirma revenue rising 19% and Decipher Prostate revenue increasing 12%. Despite the overall revenue beat, management noted that Decipher Prostate volumes fell approximately 1,000 tests short of internal expectations. The company demonstrated strong profitability with GAAP net income reaching $31.5 million and Adjusted EBITDA at $41.2 million, exceeding its long-term margin target of 25%. Veracyte also announced the $150 million acquisition of Convergent Genomics to bolster its urology portfolio and authorized a new $100 million share repurchase program. Looking ahead, Veracyte narrowed its full-year 2026 revenue guidance but revised its testing revenue outlook slightly downward due to the Decipher Prostate volume shortfall. For 2027, the company projects 10% volume growth and mid-single-digit revenue growth as it navigates market normalization.
Topics: EBITDA net income revenue growth testing volume