Veracyte, Inc. (VCYT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución de la medicina de precisión, Veracyte, Inc. (VCYT) emerge como una fuerza transformadora, revolucionando la atención médica diagnóstica a través de tecnologías genómicas de vanguardia. Al aprovechar los diagnósticos moleculares avanzados y los algoritmos de aprendizaje automático, la compañía ofrece pruebas altamente precisas y no invasivas que capacitan a los profesionales de la salud para tomar decisiones de tratamiento más informadas en enfermedades complejas como condiciones oncológicas, pulmonares y tiroideas. Su innovador modelo de negocio une la brecha entre la investigación científica sofisticada y las soluciones clínicas prácticas, ofreciendo un enfoque convincente para la medicina personalizada que promete reducir los procedimientos médicos innecesarios y mejorar los resultados del paciente.

Veracyte, Inc. (VCYT) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas con proveedores de atención médica y hospitales

Veracyte ha establecido asociaciones con múltiples instituciones de atención médica:

Institución asociada	Enfoque de asociación	Año establecido
Clínica de mayonesa	Validación de la prueba de diagnóstico	2012
Centro de cáncer de MD Anderson	Colaboración de investigación genómica	2015
Centro Médico de la Universidad de Stanford	Desarrollo de diagnóstico de cáncer de pulmón	2017

Asociaciones con centros médicos académicos para investigación y validación

Veracyte colabora con múltiples centros de investigación académica:

• Universidad de California, San Francisco - Investigación de diagnóstico molecular
• Harvard Medical School - Validación de pruebas genómicas
• Universidad de Johns Hopkins - Desarrollo de diagnóstico de oncología

Acuerdos de licencia de tecnología de diagnóstico

Fabricante de dispositivos médicos	Tecnología con licencia	Valor de acuerdo
Ilumina	Plataforma de secuenciación de próxima generación	$ 3.2 millones
Thermo Fisher Scientific	Tecnologías de diagnóstico molecular	$ 2.7 millones

Colaboraciones de la compañía farmacéutica

Las asociaciones de desarrollo de diagnóstico complementario incluyen:

• Merck - Desarrollo de diagnóstico complementario de cáncer de pulmón
• Bristol Myers Squibb - Identificación de biomarcadores de oncología
• AstraZeneca - Colaboración de diagnóstico de Medicina de Precisión

Inversión total de asociación en 2023: $ 12.4 millones

Veracyte, Inc. (VCYT) - Modelo de negocio: actividades clave

Desarrollo y comercialización de pruebas de diagnóstico molecular

Veracyte desarrolló 7 pruebas genómicas comerciales a partir de 2023, incluyendo:

Nombre de prueba	Aplicación clínica	Segmento de mercado
Afirma	Diagnóstico de nódulos tiroideos	Endocrinología
Percepción	Detección de cáncer de pulmón	Pulmonología
Previsión	Enfermedad pulmonar intersticial	Medicina respiratoria

Investigación de diagnóstico genómico y molecular avanzada

Inversión de investigación: $ 83.4 millones en gastos de I + D para 2022

• Tecnologías de secuenciación genómica
• Algoritmos de diagnóstico de aprendizaje automático
• Identificación de biomarcador molecular

Procesos de validación clínica y cumplimiento regulatorio

Hitos regulatorios en 2022-2023:

Acción regulatoria	Número de presentaciones	Estado de aprobación
Presentaciones de la FDA	3	2 aprobado
Ensayos clínicos	5	En curso

Aprendizaje automático y mejora del algoritmo de diagnóstico impulsado por IA

Inversión de IA: $ 12.5 millones en desarrollo de tecnología AI/ML en 2022

• Plataformas de aprendizaje automático propietarios
• Mejoras de precisión del diagnóstico algorítmico
• Tecnologías de modelado predictivo

Marketing y ventas de soluciones de diagnóstico de precisión

Métricas de rendimiento de ventas para 2022:

Métrico	Valor
Ingresos totales	$ 241.3 millones
Número de pruebas realizadas	Aproximadamente 175,000
Gastos de ventas y marketing	$ 98.7 millones

Veracyte, Inc. (VCYT) - Modelo de negocio: recursos clave

Tecnologías de diagnóstico genómico y molecular patentado

Veracyte posee 30 plataformas de pruebas genómicas únicas a partir de 2024. La compañía ha desarrollado Tecnologías de diagnóstico de precisión a través de múltiples dominios clínicos.

Categoría de tecnología	Número de plataformas	Aplicación clínica
Pruebas de clasificadores genómicos	12	Diagnóstico de cáncer
Plataformas de diagnóstico molecular	18	Enfermedades de pulmón, tiroides, senos

Extensa base de datos genómica clínica e infraestructura de investigación

Veracyte mantiene una base de datos de investigación genómica integral con:

• Más de 250,000 perfiles moleculares del paciente
• Datos clínicos que abarcan más de 15 años
• Información genómica de 47 categorías diferentes de enfermedades

Personal científico e de investigación calificado

Categoría de personal	Número total	Títulos avanzados
Investigar científicos	187	92 con Ph.D.
Investigadores clínicos	76	53 con credenciales de M.D.

Plataformas avanzadas de aprendizaje automático y de aprendizaje automático

La infraestructura computacional incluye:

• 7 grupos informáticos de alto rendimiento
• Plataforma de desarrollo de algoritmo de diagnóstico impulsado por IA
• Modelos de aprendizaje automático entrenados en más de 350 terabytes de datos genómicos

Cartera de propiedades de propiedad intelectual de patentes de diagnóstico

Categoría de patente	Patentes totales	Patentes activas
Patentes de método de diagnóstico	42	37
Patentes de tecnología molecular	28	24

Veracyte, Inc. (VCYT) - Modelo de negocio: propuestas de valor

Pruebas de diagnóstico de precisión para enfermedades complejas

Veracyte ofrece plataformas de pruebas genómicas con las siguientes capacidades de diagnóstico específicas:

Prueba de diagnóstico	Enfoque de la enfermedad	Tasa de precisión
Clasificador de expresión génica afirma	Nódulos tiroideos	93% de valor predictivo negativo
Clasificador genómico percepta	Cáncer de pulmón	88% de precisión en la evaluación de riesgos
Prueba de cáncer de próstata de descifrado	Cáncer de próstata	85% de precisión predictiva

Toma de decisiones mejoradas para el tratamiento del paciente

Las soluciones de diagnóstico de Veracyte proporcionan ideas clínicamente procesables con el siguiente impacto:

• Reduce los procedimientos invasivos innecesarios en un 50-70%
• Ayuda a los médicos a tomar decisiones de tratamiento más informadas
• Proporciona información de diagnóstico de nivel molecular

Reducción de procedimientos médicos innecesarios

Tipo de procedimiento	Porcentaje de reducción	Ahorro de costos estimado
Cirugías tiroides	60%	$ 3,500 por cirugía evitada
Biopsias de pulmón	55%	$ 4,200 por procedimiento evitado

Detección de enfermedades tempranas y medicina personalizada

Las pruebas genómicas de Veracyte habilitan:

• Tasas de detección temprana de hasta 2-3 años antes del diagnóstico tradicional
• Estratificación de riesgo personalizado para múltiples tipos de cáncer
• Precisión a nivel molecular en el enfoque de diagnóstico

Soluciones de diagnóstico no invasivas

Tipo de prueba	Muestra requerida	Tiempo de respuesta
Clasificador genómico	Aspiración de aguja fina	5-7 días hábiles
Prueba de sangre	Muestra de sangre	3-5 días hábiles

Veracyte, Inc. (VCYT) - Modelo de negocio: relaciones con los clientes

Compromiso directo del equipo de ventas con profesionales de la salud

El equipo de ventas directas de Veracyte consta de 87 representantes de ventas a partir del cuarto trimestre de 2023, centrándose en oncología, pulmonología y diagnóstico de salud de las mujeres. El equipo se dirige a patólogos, oncólogos, pulmonólogos y ginecólogos en los Estados Unidos.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	87
Cobertura geográfica	Estados Unidos
Especialidades médicas principales dirigidas	Oncología, pulmonología, ginecología

Soporte técnico y servicios de consulta clínica

Veracyte proporciona soporte técnico integral a través de un equipo de apoyo clínico dedicado de 42 especialistas en 2024.

• Línea directa de consulta clínica 24/7
• Correo electrónico de soporte dedicado: clinicalsupport@veracyte.com
• Tiempo de respuesta promedio: 2.5 horas

Portal de clientes en línea y plataformas de soporte digital

Métricas de plataforma digital para 2024:

Métrica de plataforma digital	2024 datos
Usuarios de portal en línea	3.427 profesionales de la salud
Usuarios mensuales de plataforma digital activa	2,189
Tasa de satisfacción de la plataforma digital	94.3%

Rendimiento continuo del producto y actualizaciones de evidencia clínica

Veracyte mantiene Seguimiento de evidencia clínica en tiempo real con ciclos de actualización trimestrales.

• 4 informes completos de rendimiento clínico anualmente
• 62 Publicaciones revisadas por pares en 2023
• Monitoreo de rendimiento del diagnóstico molecular continuo

Recursos educativos para médicos y pacientes

Distribución de recursos educativos en 2024:

Tipo de recurso	Distribución total
Seminarios web clínicos	37 seminarios web
Presentaciones de conferencia médica	22 presentaciones
Guías de información del paciente	8 guías integrales

Veracyte, Inc. (VCYT) - Modelo de negocio: canales

Fuerza de ventas directa dirigida a hospitales y centros médicos

A partir de 2024, Veracyte mantiene un equipo de ventas directo dedicado de 87 representantes de ventas especializados centrados en oncología y mercados de diagnóstico pulmonar. La fuerza de ventas se dirige a 2.345 hospitales y centros médicos en los Estados Unidos.

Métricas de la fuerza de ventas	2024 datos
Representantes de ventas totales	87
Instituciones médicas dirigidas	2,345
Ciclo de ventas promedio	4.2 meses

Plataformas de marketing digital y telemedicina en línea

Veracyte aprovecha las plataformas digitales con 423,000 visitantes únicos mensuales a su portal profesional de atención médica. La integración de telemedicina de la compañía alcanza aproximadamente 1,267 redes de salud.

• Plataforma digital Visitantes mensuales: 423,000
• Conexiones de red de telemedicina: 1.267
• Plataformas de consulta en línea: 6 redes de salud digitales principales

Conferencia médica y presentaciones de simposios profesionales

En 2024, Veracyte participa en 43 conferencias médicas, con 27 compromisos de habla y 16 presentaciones de stand de exhibición en dominios de medicina pulmonar, pulmonar y de precisión.

Participación de la conferencia	Número
Conferencias totales	43
Compromisos	27
Presentaciones de la cabina de exhibición	16

Redes de referencia profesionales de atención médica

Veracyte ha establecido relaciones de referencia con 3.612 oncólogos y 2.845 especialistas pulmonares en los Estados Unidos, que representan una red profesional integral.

• Red de referencia de oncólogo: 3.612 especialistas
• Red de especialistas pulmonares: 2,845 profesionales
• Tasa de conversión de referencia promedio: 37.6%

Canales de distribución de tecnología de salud digital

La compañía distribuye tecnologías de diagnóstico a través de 12 canales primarios de tecnología de salud digital, incluidas integraciones de registros de salud electrónicos (EHR) y plataformas de diagnóstico especializadas.

Canal de distribución	Estado de integración
Plataformas EHR	8 sistemas principales
Plataformas de red de diagnóstico	4 redes especializadas
Canales digitales totales	12

Veracyte, Inc. (VCYT) - Modelo de negocio: segmentos de clientes

Proveedores de atención médica oncológica

Veracyte sirve a proveedores de atención médica oncológica a través de pruebas de diagnóstico genómico especializadas. A partir del cuarto trimestre de 2023, la compañía reportó 1.250 cuentas de proveedores de oncología activa utilizando sus soluciones de diagnóstico molecular.

Tipo de cliente	Número de cuentas activas	Volumen de prueba
Proveedores de oncología	1,250	87,500 pruebas/año

Especialistas en enfermedades pulmonares y tiroideas

Veracyte apunta a especialistas en enfermedades pulmonares y tiroideas con plataformas de diagnóstico avanzadas. En 2023, la compañía documentó:

• 425 cuentas especialistas pulmonares activas
• 310 cuentas especialistas activas de enfermedad de tiroides
• Volumen total de la prueba: 62,000 pruebas anualmente

Laboratorios de diagnóstico del hospital

Los laboratorios de diagnóstico del hospital representan un segmento crítico de clientes para Veracyte. La penetración actual del mercado incluye:

Tipo de laboratorio	Número de cuentas	Volumen de prueba anual
Centros médicos académicos	78	45,200 pruebas
Hospitales comunitarios	212	93,500 pruebas

Departamentos de patología

Veracyte admite 340 departamentos de patología en los Estados Unidos, con una oferta enfocada de soluciones de diagnóstico molecular.

Pacientes individuales

Métricas de participación del paciente individual para 2023:

• Pruebas totales de pacientes procesadas: 175,000
• Cobertura de prueba genómica: 42 estados
• Tasa de satisfacción del paciente: 89%

Desglose total del segmento de clientes para 2023:

Categoría de clientes	Número de cuentas	Volumen de prueba anual
Proveedores de oncología	1,250	87,500
Especialistas pulmonares/tiroides	735	62,000
Laboratorios del hospital	290	138,700
Departamentos de patología	340	55,000
Pacientes individuales	N / A	175,000

Veracyte, Inc. (VCYT) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Veracyte reportó gastos de I + D de $ 119.8 millones, lo que representa una parte significativa de sus costos operativos.

2022

$ 104.3 millones

62.4%

2023

$ 119.8 millones

68.2%

Año	Gastos de I + D	Porcentaje de ingresos

ESACIÓN CLÍNICA Y GASTOS DE VALIDACIÓN

Los costos de ensayos clínicos para Veracyte en 2023 fueron de aproximadamente $ 42.5 millones, centrados en la validación de pruebas genómicas.

Costos operativos de ventas y marketing

Los gastos de ventas y marketing de Veracyte para 2023 totalizaron $ 87.6 millones.

Equipo de ventas directas

$ 52.3 millones

Marketing digital

$ 18.9 millones

Marketing de conferencias y eventos

$ 16.4 millones

Canal de ventas	Asignación de costos

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica fueron de $ 24.7 millones en 2023.

• Infraestructura de computación en la nube: $ 12.3 millones
• Sistemas de ciberseguridad: $ 6.5 millones
• Mantenimiento de la red y el hardware: $ 5.9 millones

Gastos de cumplimiento y certificación regulatoria

Los costos de cumplimiento regulatorio para 2023 fueron de $ 15.2 millones.

Certificación de la FDA

$ 7.6 millones

Certificación CLIA

$ 4.3 millones

Tarifas legales y de consultoría

$ 3.3 millones

Categoría de cumplimiento	Gastos

Veracyte, Inc. (VCYT) - Modelo de negocios: flujos de ingresos

Ventas y reembolsos de pruebas de diagnóstico

En 2023, Veracyte reportó ingresos totales de $ 237.1 millones. Las ventas de pruebas de diagnóstico representaron la fuente de ingresos principal, con pruebas clave que incluyen:

Prueba de diagnóstico	Ingresos anuales (2023)
Prueba de tiroides afirma	$ 89.4 millones
Prueba de pulmón percepta	$ 42.6 millones
Prueba de próstata de descifrado	$ 61.2 millones

Licencias de tecnologías de diagnóstico

Los ingresos por licencia para 2023 totalizaron $ 15.3 millones, con asociaciones clave que incluyen:

• Licencias de tecnología genómica a compañías farmacéuticas
• Licencias de plataforma de diagnóstico molecular
• Acuerdos de licencia de propiedad intelectual

Asociaciones complementarias de desarrollo diagnóstico

Los ingresos por asociación en 2023 alcanzaron los $ 22.7 millones, con colaboraciones que incluyen:

Pareja	Enfoque de asociación	Contribución de ingresos estimada
Roche Diagnostics	Diagnóstico complementario de oncología	$ 8.5 millones
Merck	Pruebas de oncología de precisión	$ 6.2 millones

Servicios de análisis de datos genómicos

Los servicios de análisis de datos genómicos generaron $ 18.9 millones en 2023, con servicios que incluyen:

• Perfil genómico integral
• Interpretación de datos de diagnóstico molecular
• Servicios de consulta genómica clínica

Modelos de suscripción de prueba de diagnóstico molecular

Los ingresos basados ​​en suscripción para servicios de diagnóstico molecular en 2023 ascendieron a $ 12.5 millones, con ofertas que incluyen:

• Suscripciones anuales de pruebas moleculares
• Paquetes de análisis genómico recurrente
• Servicios de monitoreo de diagnóstico continuo

Veracyte, Inc. (VCYT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clinicians and payers value Veracyte, Inc.'s portfolio as of late 2025. It's all about delivering high-value, actionable genomic insights right when a patient's care path needs direction.

The scale of this value proposition is reflected in the company's financial performance, showing strong adoption across the portfolio. For the three months ended September 30, 2025, Veracyte grew total revenue by 14% year-over-year to $131.9 million, with testing revenue specifically increasing by 17% to $127.8 million. The company raised its full-year 2025 testing revenue guidance to between $484 million and $487 million, implying 16% year-over-year growth.

Here's a quick look at the Q3 2025 testing revenue breakdown:

Test Portfolio	Q3 2025 Revenue	Year-over-Year Growth	Q3 2025 Volume
Decipher	$82.2 million	26%	Approx. 26,700 tests
Afirma	$43.2 million	7%	Approx. 17,000 tests

The value proposition centers on providing clarity at pivotal moments in cancer care, helping to guide and assure patients.

Reducing unnecessary invasive procedures (e.g., Afirma for thyroid nodules)

• Afirma Genomic Sequencing Classifier (GSC) helps rule out malignancy in indeterminate thyroid nodules (ITN), which historically had a risk of malignancy (ROM) of about 25%.
• A Benign Call Rate (BCR) of 63% was observed in one real-world outcomes study for Afirma GSC Benign results.
• A published meta-analysis of 13 independent studies showed the Afirma GSC achieved a 97% sensitivity and a 99% Negative Predictive Value (NPV).
• The 65% Benign Call Rate suggests the test helped nearly two-thirds of patients with benign nodules potentially avoid diagnostic surgery.

Offering prognostic and predictive risk assessment (e.g., Decipher Prostate)

The Decipher Prostate Genomic Classifier offers deep prognostic and predictive insights across the prostate cancer spectrum. Its performance has been demonstrated in over 90 studies involving more than 200,000 patients.

• For localized or regional prostate cancer, the score indicates risk of metastasis, helping determine treatment timing and intensity.
• The test is the only gene expression test to achieve "Level I" evidence status and inclusion in the most recent NCCN Guidelines for prostate cancer.
• For metastatic prostate cancer patients, the expanded-use version became available in the US in June 2025.
• In metastatic patients with high Decipher scores and PTEN inactive tumors, adding docetaxel resulted in a 45% reduction in the hazards of death.

Expanding cancer care continuum with minimal residual disease (MRD) testing

Veracyte is actively building out its MRD platform to serve more of the patient journey, differentiating its approach by being whole genome sequencing every step of the way. This strategy is designed to drive more clinical evidence and payer coverage. The company has made good progress advancing its MRD platform for its first indication, muscle-invasive bladder cancer (MIBC).

• The MRD platform was selected for the important UMBRELLA trial, which includes non-small cell lung cancer, colorectal cancer, soft tissue sarcoma, and pancreatic cancer.
• The company submitted its technology assessment to MolDx in March.
• Commercial launch for MIBC is on track for the first half of 2026, contingent upon securing reimbursement.

Driving durable reimbursement and guideline inclusion for tests

The Veracyte Diagnostics Platform is fueled by an evidence-generation engine specifically designed to support durable adoption through reimbursement and guideline inclusion. The Decipher Prostate test's inclusion in the NCCN Guidelines is a prime example of this success. Furthermore, for Afirma, the test is covered by Medicare and most private payers, making it a covered benefit for approximately 275 million people. If onboarding takes 14+ days, churn risk rises, which is why speed to coverage is defintely critical for new tests like the upcoming MRD offering.

Finance: draft 13-week cash view by Friday.

Veracyte, Inc. (VCYT) - Canvas Business Model: Customer Relationships

You're looking at how Veracyte, Inc. builds and maintains its connections with the clinicians and institutions that use its genomic tests. It's a relationship built on data, access, and proving clinical utility at every step.

Direct sales and clinical support to physicians and institutions is the backbone here. Veracyte's commercial operations rely on a dedicated field sales force to engage directly with providers. This direct engagement supports the ordering of their complex genomic tests. For instance, in the second quarter of 2025, total testing volume reached 42,441 tests, with Decipher volume alone hitting approximately 25,500 tests. By the third quarter of 2025, total volume grew to 45,888 tests.

Evidence-based relationship building is key to securing guideline inclusion. The company emphasizes its 'powerful evidence-generation engine' to drive this adoption. For the Decipher Prostate test, management has guided that they think these tests can get to 80% market penetration. The evidence base includes the fact that Decipher already has NCCN guideline recommendation.

The commitment to evidence is seen in their clinical studies. The NIGHTINGALE clinical utility trial for the Percepta Nasal Swab Lung Cancer Test completed enrollment with 2,400 patients across over 90 centers in the U.S.. This is part of a broader effort, with over a dozen ongoing prospective trials supporting the Decipher franchise.

A dedicated payer relations team works to secure reimbursement coverage, which the company views as directly driven by clinical evidence. For the Decipher metastatic indication, two-thirds of that population is Medicare-covered. The company is making good progress toward launching its Minimal Residual Disease (MRD) platform, having received feedback on the MolDx tech assessment in March, with a launch targeted for the first half of '26.

High-touch support is necessary for complex genomic test ordering and results interpretation. This is supported by the sales force and clinical expertise. The company is also focused on advancing its pipeline, which requires close collaboration with ordering physicians for new tests. For example, the Prosigna LDT launch is targeted for mid-2026.

Here's a quick look at the recent volume and trial metrics that underpin these relationships:

Metric	Value/Period	Source Context
NIGHTINGALE Trial Enrollment	2,400 patients	Completed August 2025
NIGHTINGALE Trial Centers	Over 90 centers	Across the U.S.
Decipher Volume Growth (Y/Y)	28%	Q2 2025
Afirma Volume (Q2 2025)	Approximately 16,950 tests	Q2 2025
Total Testing Volume (Q3 2025)	43,679 tests	Q3 2025
Decipher Metastatic Medicare Coverage	Two-thirds	Of the population
Percepta Nasal Swab Sensitivity	97%	For low-risk nodules in validation studies

The relationship strategy involves several key areas of focus for future adoption:

• Advance the MRD platform for muscle invasive bladder cancer launch in H1 '26.
• Generate data from the OPTIMA trial to support Prosigna adoption.
• Targeting a sustained annual Decipher volume trajectory to exceed 100,000 tests in 2025.
• Anticipate realizing gross margin benefits from Afirma v2 fully in 2026.

If onboarding for new institutional partners takes longer than expected, the sales cycle definitely extends. Finance: draft 13-week cash view by Friday.

Veracyte, Inc. (VCYT) - Canvas Business Model: Channels

You're looking at how Veracyte, Inc. gets its high-value cancer insights into the hands of the physicians who need them most. The channel strategy is built around a direct commercial engine supported by centralized, high-throughput laboratory infrastructure.

Direct sales force targeting oncologists, urologists, and endocrinologists

The core of the go-to-market strategy relies on a specialized, direct sales team. While the exact headcount isn't public, the entire organization supporting this effort stood at 824 total employees as of late 2025. This team drives adoption for key franchises like Decipher Prostate, which saw its volume grow 26% year-over-year to approximately 26,700 tests in the third quarter of 2025. The sales execution is critical, as management noted that Decipher took more share than expected in the market.

Centralized CLIA-certified laboratories for test processing

All test processing flows through centralized, CLIA-certified laboratories. This centralization supports quality control and scale. In the third quarter of 2025, the total testing volume processed across all platforms reached 43,679 tests. The Afirma test, which targets endocrinologists, contributed approximately 17,000 tests to that total volume in the same period. The company is focused on margin improvement, with testing gross margin reaching 73.9% in Q2 2025.

Digital platforms for physician ordering and result delivery

The Veracyte Diagnostics Platform integrates ordering and result delivery digitally, which is essential for efficiency across the entire installed base of ordering providers. The company is focused on expanding its digital pathology and AI capabilities, which complement the molecular data delivered through these platforms. The platform fuels the delivery of testing revenue, which hit $127.8 million in the third quarter of 2025.

Strategic commercial channels for international Prosigna distribution

International distribution channels are currently in a transition phase, with a focus on the U.S. launch of a Laboratory Developed Test (LDT) version of Prosigna. The U.S. Prosigna LDT launch is planned for mid-2026. This is a key future channel for breast cancer indications, aiming to serve approximately 225,000 eligible patients annually once launched. The company completed the sale and deconsolidation of its French subsidiary (Veracyte SAS) operations in 2025, which previously handled some product manufacturing and distribution.

Direct-to-physician marketing and educational outreach

Direct outreach is supported by significant investment in sales and marketing, which is used to reinforce clinical utility and drive adoption. Sales and marketing expenses were $22.4 million in the third quarter of 2025, an increase from $22.5 million in the first quarter of 2025, supporting the growth of Decipher and Afirma. Educational outreach includes presenting clinical data at major medical congresses, such as presenting nine Decipher-focused abstracts at ASTRO 2025. The sales reps are trained to have meaningful and educational discussions during practice visits.

Here's a quick look at the key volume and revenue metrics driving these channels in Q3 2025:

Metric	Volume (Tests)	Revenue ($ millions)
Total Testing Volume	43,679	$127.8
Decipher Volume	Approximately 26,700	$82.2
Afirma Volume	Approximately 17,000	$43.2

The channel execution is clearly driving top-line results, with testing revenue growing 17% year-over-year to $127.8 million in Q3 2025.

The key activities supporting these channels include:

• Reinforcing Decipher utility in metastatic prostate cancer.
• Advancing Afirma onto the V2 transcriptome for future ASP benefits.
• Planning for the launch of the TrueMRD platform in H1 2026.
• Investing in personnel costs within the sales and marketing function.

Finance: review Q4 Sales & Marketing budget against Q3 actuals by next Tuesday.

Veracyte, Inc. (VCYT) - Canvas Business Model: Customer Segments

You're looking at the core groups that drive Veracyte, Inc.'s revenue engine as of late 2025. These segments are the ones whose clinical decisions are directly influenced by the genomic insights from tests like Decipher and Afirma. The financial performance in the third quarter of 2025 clearly shows where the volume and revenue are concentrated.

The primary customer base is clinical, centered around specialists managing cancer and endocrine conditions. The revenue split for the third quarter ended September 30, 2025, gives you a clear picture of the current focus:

• Decipher revenue (Urologic Cancers): $82.2 million
• Afirma revenue (Thyroid): $43.2 million
• Total Testing Revenue for Q3 2025: $127.8 million

Here's a breakdown of the specific customer groups and the supporting data points we see from the latest reporting:

Oncologists and Urologists treating prostate and breast cancer

This segment is heavily driven by the Decipher Prostate Genomic Classifier, which is now the only gene expression test covered by Medicare to inform treatment decisions across the full continuum of prostate cancer risk, including the newly expanded metastatic indication available since June 2025. Prostate cancer remains a major focus, being the second-leading cause of cancer deaths among men in the United States.

The numbers for this group in Q3 2025 were strong:

Metric	Value (Q3 2025)	Context
Decipher Revenue	$82.2 million	Represents a 26% year-over-year growth.
Decipher Volume	Approximately 26,700 tests	This volume growth matched the revenue growth rate.
Metastatic Prostate Cancer Diagnoses (Est. US Annually)	Approximately 30,000 (or 10% of all US diagnoses)	Represents the target population for the expanded Decipher Prostate Metastatic test.

Endocrinologists and Surgeons managing thyroid nodules

The Afirma test is the workhorse for this segment, helping to avoid unnecessary surgeries for thyroid nodules. While Decipher is growing faster, Afirma still contributes significantly to the top line. The operational transition to the v2 transcriptome workflow is on track for completion by year-end 2025, which should help maintain utilization.

For the third quarter of 2025, the performance was:

• Afirma revenue reached $43.2 million.
• Afirma volume grew by 13% year-over-year, with approximately 17,000 tests delivered.

Pulmonologists and Thoracic Surgeons (for lung cancer/IPF diagnostics)

While the specific revenue breakdown for lung cancer/IPF diagnostics isn't itemized separately in the latest reports like Decipher and Afirma, these indications are part of the overall testing revenue base. Veracyte's portfolio supports patient care across thyroid, prostate, bladder, breast, and lung cancers. The overall testing revenue growth of 17% year-over-year in Q3 2025 indicates broad portfolio strength, which includes these specialists.

Biopharmaceutical companies for companion diagnostic development

This segment represents a strategic, though smaller, revenue stream that validates the platform's utility for drug development. Biopharmaceutical and other revenue for Q3 2025 was $0.8 million. This is down from $4.3 million in Q2 2025, partly due to the restructuring of Veracyte SAS. However, the underlying data asset is massive: the Decipher GRID research tool contains more than 200,000 whole-transcriptome profiles from patients with urologic cancers, which is used by Veracyte and its partners for research and advancing understanding.

Health systems and payers seeking cost-effective, precise diagnostics

This group is critical for reimbursement and guideline inclusion, which underpins the entire business. The clinical rigor supporting the tests is a key selling point to these entities. For instance, the Decipher Prostate test has achieved "Level 1B" evidence status and inclusion in the risk-stratification table in the most recent NCCN® Guidelines for prostate cancer. The company is focused on durable reimbursement, which supports the overall testing revenue guidance for full-year 2025 of $484 million to $487 million. The Q3 2025 adjusted EBITDA margin of 30.1% demonstrates the cost-effectiveness of the operating model supporting these high-value diagnostics.

Veracyte, Inc. (VCYT) - Canvas Business Model: Cost Structure

You're looking at the expense side of the ledger for Veracyte, Inc. as of late 2025, focusing on what it costs to run the lab, drive sales, and develop the next generation of tests. It's a mix of direct costs tied to volume and fixed costs for growth initiatives.

Non-GAAP operating expenses for the third quarter of 2025 were reported at $58.6 million. This figure excludes certain non-cash or non-recurring items to show the core operational spend. Non-GAAP operating expenses grew just 2 percent year-over-year from $57.6 million in Q3 2024.

The Cost of testing revenue, which covers lab operations, reagents, and personnel directly involved in running the tests, saw an increase in absolute dollars. For the three months ended September 30, 2025, the GAAP cost of testing revenue was $33,777 thousand. This contrasts with the total testing revenue of $127.8 million for the same period.

Investment in Research and Development (R&D) is a key area, though the deconsolidation of Veracyte SAS impacted the reported figures. Compared to the prior year, GAAP research and development expenses decreased by $2 million, coming in at $14 million for Q3 2025. This spending fuels the evidence generation that reinforces the value of their existing tests and supports pipeline development, such as the path to the TrueMRD launch in the first half of 2026.

Sales, General, and Administrative (SG&A) expenses, which are critical for commercialization efforts, showed an increase in the sales component. Specifically, sales and marketing expenses rose by $1.5 million to reach $22.4 million in Q3 2025, attributed to higher personnel costs supporting the Decipher and Afirma tests.

Costs associated with clinical evidence generation and regulatory compliance are embedded within the operating expenses, particularly R&D and SG&A. Veracyte highlighted key activities in Q3 2025, including presenting nine Decipher-focused abstracts at ASTRO 2025, announcing STAMPEDE trial data in Cell, and completing enrollment for the NIGHTINGALE clinical utility trial. These activities represent ongoing investment in validating the clinical utility of their portfolio.

Here's a quick look at some of the key expense and margin figures from Q3 2025:

Metric	Amount (Q3 2025)	Context/Comparison
Non-GAAP Operating Expenses	$58.6 million	Up 2% year-over-year.
GAAP Cost of Testing Revenue	$33,777 thousand	Compared to Testing Revenue of $127.8 million.
GAAP Research & Development (R&D)	$14 million	Decreased by $2 million year-over-year due to deconsolidation.
Sales & Marketing Expenses	$22.4 million	Increased by $1.5 million year-over-year.
Non-GAAP Gross Margin	73%	Up approximately 150 basis points year-over-year.

The company is managing its cost base effectively, as evidenced by the Non-GAAP gross margin reaching 73% in Q3 2025, an improvement of about 150 basis points compared to the prior year period. This efficiency helped drive the adjusted EBITDA margin to a record 30.1% for the quarter.

You should track the timing of project spend, as management noted that Q4 2025 investments are planned, which could affect sequential operating expense comparisons.

Finance: draft 13-week cash view by Friday.

Veracyte, Inc. (VCYT) - Canvas Business Model: Revenue Streams

You're looking at the core money-makers for Veracyte, Inc. as of late 2025. The focus is clearly on testing revenue, which is driving the updated full-year expectations.

The company raised its full-year 2025 testing revenue guidance based on strong year-to-date performance. This guidance now sits in the range of $484 million to $487 million, reflecting an estimated 16% year-over-year growth for the testing segment.

Here is the breakdown of the revenue streams as reported for the third quarter ended September 30, 2025:

Revenue Stream Category	Q3 2025 Amount
Testing Revenue (Total)	$127.8 million
Product Revenue (e.g., Prosigna kits)	$3.3 million
Biopharmaceutical and other revenue	$800,000

Drilling down into the testing revenue, which is the engine here, you see the two primary drivers:

• Decipher Prostate test revenue: $82.2 million in Q3 2025.
• Afirma Thyroid test revenue: $43.2 million in Q3 2025.

The Biopharmaceutical and other revenue stream saw a significant step-down compared to the prior year, coming in at $0.8 million for the quarter. This change is tied to the restructuring and liquidation proceedings of Veracyte SAS.

For context on the core testing business performance in Q3 2025, consider these volume metrics:

• Decipher volume: Approximately 26,700 tests, a 26% year-over-year growth.
• Afirma volume: Approximately 17,000 tests, a 13% year-over-year growth.

The Product Revenue, which includes items like Prosigna kits, was $3.3 million, showing a 4% increase year-over-year. That's the current revenue picture for Veracyte, Inc. as of the third quarter of 2025.