Veracyte Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Veracyte (NASDAQ:VCYT) Full Year 2023 Results
Key Financial Results
Revenue: US$361.1m (up 22% from FY 2022).
Net loss: US$74.4m (loss widened by 103% from FY 2022).
US$1.02 loss per share (further deteriorated from US$0.51 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Veracyte Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 40%.
Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US.
Performance of the American Biotechs industry.
The company's shares are down 10% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for Veracyte (1 makes us a bit uncomfortable!) that you need to be mindful of.
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