Veracyte, Inc. (VCYT): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da medicina de precisão, a Veracyte, Inc. (VCYT) surge como uma força transformadora, revolucionando a assistência médica diagnóstica por meio de tecnologias genômicas de ponta. Ao alavancar algoritmos avançados de diagnóstico molecular e aprendizado de máquina, a empresa oferece testes altamente precisos e não invasivos que capacitam os profissionais de saúde a tomar decisões de tratamento mais informadas em doenças complexas como oncologia, polonary e condições da tireóide. Seu modelo de negócios inovador preenche a lacuna entre pesquisas científicas sofisticadas e soluções clínicas práticas, oferecendo uma abordagem atraente da medicina personalizada que promete reduzir procedimentos médicos desnecessários e melhorar os resultados dos pacientes.

Veracyte, Inc. (VCYT) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com profissionais de saúde e hospitais

A Veracyte estabeleceu parcerias com várias instituições de saúde:

Instituição parceira	Foco em parceria	Ano estabelecido
Clínica Mayo	Validação do teste de diagnóstico	2012
MD Anderson Cancer Center	Colaboração de pesquisa genômica	2015
Centro Médico da Universidade de Stanford	Desenvolvimento diagnóstico de câncer de pulmão	2017

Parcerias com centros médicos acadêmicos para pesquisa e validação

Veracyte colabora com vários centros de pesquisa acadêmica:

• Universidade da Califórnia, São Francisco - Pesquisa de Diagnóstico Molecular
• Faculdade de Medicina de Harvard - Validação de testes genômicos
• Universidade Johns Hopkins - Desenvolvimento Diagnóstico de Oncologia

Contratos de licenciamento de tecnologia de diagnóstico

Fabricante de dispositivos médicos	Tecnologia licenciada	Valor do acordo
Ilumina	Plataforma de sequenciamento de próxima geração	US $ 3,2 milhões
Thermo Fisher Scientific	Tecnologias de diagnóstico molecular	US $ 2,7 milhões

Colaborações da empresa farmacêutica

As parcerias de desenvolvimento de diagnóstico complementares incluem:

• Merck - Desenvolvimento diagnóstico de companheiros de câncer de pulmão
• Bristol Myers Squibb - Identificação de biomarcadores de oncologia
• AstraZeneca - Colaboração de diagnóstico de medicina de precisão

Investimento total de parceria em 2023: US $ 12,4 milhões

Veracyte, Inc. (VCYT) - Modelo de negócios: Atividades -chave

Desenvolvimento e comercialização de testes de diagnóstico molecular

A Veracyte desenvolveu 7 testes genômicos comerciais a partir de 2023, incluindo:

Nome do teste	Aplicação clínica	Segmento de mercado
Afirma	Diagnóstico de nódulos da tireóide	Endocrinologia
Percepta	Triagem de câncer de pulmão	Pulmonologia
Envisia	Doença pulmonar intersticial	Medicina respiratória

Pesquisa de diagnóstico genômico e molecular avançado

Investimento de pesquisa: US $ 83,4 milhões em despesas de P&D para 2022

• Tecnologias de sequenciamento genômico
• Algoritmos de diagnóstico de aprendizado de máquina
• Identificação de biomarcadores moleculares

Processos de validação clínica e conformidade regulatória

Marcos regulatórios em 2022-2023:

Ação regulatória	Número de envios	Status de aprovação
Submissões da FDA	3	2 aprovado
Ensaios clínicos	5	Em andamento

Aprendizado de máquina e aprimoramento do algoritmo de diagnóstico acionado por IA

Investimento de IA: US $ 12,5 milhões em desenvolvimento tecnológico de IA/ML em 2022

• Plataformas proprietárias de aprendizado de máquina
• Melhorias de precisão diagnóstica algorítmica
• Tecnologias de modelagem preditivas

Marketing e vendas de soluções de diagnóstico de precisão

Métricas de desempenho de vendas para 2022:

Métrica	Valor
Receita total	US $ 241,3 milhões
Número de testes realizados	Aproximadamente 175.000
Despesas de vendas e marketing	US $ 98,7 milhões

Veracyte, Inc. (VCYT) - Modelo de negócios: Recursos -chave

Tecnologias de diagnóstico genômicas e moleculares proprietárias

Veracyte possui 30 plataformas de teste genômicas únicas a partir de 2024. A empresa desenvolveu Tecnologias de diagnóstico de precisão em vários domínios clínicos.

Categoria de tecnologia	Número de plataformas	Aplicação clínica
Testes de classificador genômico	12	Diagnóstico do câncer
Plataformas de diagnóstico molecular	18	Pulmão, tireóide, doenças de mama

Extenso banco de dados genômico clínico e infraestrutura de pesquisa

Veracyte mantém um banco de dados abrangente de pesquisa genômica com:

• Mais de 250.000 perfis moleculares de pacientes
• Dados clínicos que abrangem mais de 15 anos
• Informações genômicas de 47 categorias de doenças diferentes

Pessoal científico e de pesquisa qualificado

Categoria de pessoal	Número total	Graus avançados
Cientistas de pesquisa	187	92 com Ph.D.
Pesquisadores clínicos	76	53 com credenciais de M.D.

Plataformas avançadas de aprendizado computacional e de máquina

A infraestrutura computacional inclui:

• 7 clusters de computação de alto desempenho
• Plataforma de desenvolvimento de algoritmos de diagnóstico orientada pela IA
• Modelos de aprendizado de máquina treinados em mais de 350 terabytes de dados genômicos

Portfólio de Propriedade Intelectual de Patentes de Diagnóstico

Categoria de patentes	Total de patentes	Patentes ativas
Patentes do método de diagnóstico	42	37
Patentes de tecnologia molecular	28	24

Veracyte, Inc. (VCYT) - Modelo de negócios: proposições de valor

Testes de diagnóstico de precisão para doenças complexas

A Veracyte oferece plataformas de teste genômicas com os seguintes recursos de diagnóstico específicos:

Teste de diagnóstico	Foco da doença	Taxa de precisão
Classificador de expressão do gene afirma	Nódulos da tireóide	93% de valor preditivo negativo
Classificador Genômico Percepta	Câncer de pulmão	88% de precisão na avaliação de risco
Decifra Teste de Câncer de Próstata	Câncer de próstata	85% de precisão preditiva

Tomada de decisão de tratamento do paciente aprimorada

As soluções de diagnóstico da Veracyte fornecem informações clinicamente acionáveis ​​com o seguinte impacto:

• Reduz procedimentos invasivos desnecessários em 50-70%
• Ajuda os médicos a tomar decisões de tratamento mais informadas
• Fornece informações de diagnóstico em nível molecular

Redução de procedimentos médicos desnecessários

Tipo de procedimento	Porcentagem de redução	Economia estimada de custos
Cirurgias da tireóide	60%	US $ 3.500 por cirurgia evitada
Biópsias pulmonares	55%	US $ 4.200 por procedimento evitado

Detecção de doenças precoces e medicina personalizada

Os testes genômicos de Veracyte permitem:

• Taxas de detecção precoces de até 2-3 anos antes do diagnóstico tradicional
• Estratificação de risco personalizada para vários tipos de câncer
• Precisão no nível molecular na abordagem de diagnóstico

Soluções de diagnóstico não invasivas

Tipo de teste	Amostra necessária	Tempo de resposta
Classificador genômico	Aspiração de agulha fina	5-7 dias úteis
Teste sanguíneo	Amostra de sangue	3-5 dias úteis

Veracyte, Inc. (VCYT) - Modelo de negócios: relacionamentos com o cliente

Engajamento da equipe de vendas direta com profissionais de saúde

A equipe de vendas direta da Veracyte consiste em 87 representantes de vendas a partir do quarto trimestre 2023, focando em oncologia, pulmonologia e diagnóstico de saúde das mulheres. A equipe tem como alvo patologistas, oncologistas, pulmonologistas e ginecologistas nos Estados Unidos.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	87
Cobertura geográfica	Estados Unidos
Especialidades médicas primárias direcionadas	Oncologia, Pulmonologia, Ginecologia

Serviços técnicos de suporte e consulta clínica

A Veracyte fornece suporte técnico abrangente por meio de uma equipe de apoio clínico dedicado de 42 especialistas em 2024.

• 24/7 de consulta clínica
• E -mail de suporte dedicado: clinicalsupport@veracyte.com
• Tempo médio de resposta: 2,5 horas

Portal de clientes on -line e plataformas de suporte digital

Métricas de plataforma digital para 2024:

Métrica da plataforma digital	2024 dados
Usuários de portal online	3.427 profissionais de saúde
Usuários mensais de plataforma digital ativa	2,189
Taxa de satisfação da plataforma digital	94.3%

Desempenho contínuo do produto e atualizações de evidências clínicas

Veracyte mantém Rastreamento de evidências clínicas em tempo real com ciclos trimestrais de atualização.

• 4 Relatórios de desempenho clínico abrangentes anualmente
• 62 publicações revisadas por pares em 2023
• Monitoramento de desempenho de diagnóstico molecular contínuo

Recursos educacionais para médicos e pacientes

Distribuição de recursos educacionais em 2024:

Tipo de recurso	Distribuição total
Webinars clínicos	37 webinars
Apresentações da conferência médica	22 apresentações
Guias de informações do paciente	8 guias abrangentes

Veracyte, Inc. (VCYT) - Modelo de Negócios: Canais

Hospitais de segmentação por força de vendas diretas e centros médicos

A partir de 2024, a Veracyte mantém uma equipe de vendas direta dedicada de 87 representantes de vendas especializados focados em oncologia e mercados de diagnóstico pulmonar. A força de vendas tem como alvo 2.345 hospitais e centros médicos nos Estados Unidos.

Métricas da força de vendas	2024 dados
Total de representantes de vendas	87
Instituições médicas direcionadas	2,345
Ciclo médio de vendas	4,2 meses

Plataformas de marketing digital on -line e telemedicina

A Veracyte aproveita as plataformas digitais com 423.000 visitantes únicos mensais ao seu portal profissional de saúde. A integração de telemedicina da empresa atinge aproximadamente 1.267 redes de saúde.

• Visitantes mensais da plataforma digital: 423.000
• Conexões de rede de telemedicina: 1.267
• Plataformas de consulta on -line: 6 principais redes de saúde digital

Apresentações de Conferência Médica e Simpósio Profissional

Em 2024, a Veracyte participa de 43 conferências médicas, com 27 compromissos de palestras e 16 apresentações de cabine de exposições em domínios de oncologia, pulmonar e medicina de precisão.

Participação da conferência	Número
Total de conferências	43
Falando compromissos	27
Apresentações de cabine de exposição	16

Redes de referência profissional de saúde

A Veracyte estabeleceu relações de referência com 3.612 oncologistas e 2.845 especialistas pulmonares nos Estados Unidos, representando uma rede profissional abrangente.

• Rede de referência oncologista: 3.612 especialistas
• Rede de especialistas pulmonares: 2.845 profissionais
• Taxa média de conversão de referência: 37,6%

Canais de distribuição de tecnologia da saúde digital

A empresa distribui tecnologias de diagnóstico por meio de 12 canais primários de tecnologia da saúde digital, incluindo integrações de registros eletrônicos de saúde (EHR) e plataformas de diagnóstico especializadas.

Canal de distribuição	Status de integração
Plataformas EHR	8 sistemas principais
Plataformas de rede de diagnóstico	4 redes especializadas
Total de canais digitais	12

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

Provedores de saúde oncológicos

A Veracyte serve prestadores de serviços de saúde oncológicos por meio de testes de diagnóstico genômicos especializados. A partir do quarto trimestre de 2023, a Companhia relatou 1.250 contas de provedores de oncologia ativos utilizando suas soluções de diagnóstico molecular.

Tipo de cliente	Número de contas ativas	Volume de teste
Provedores de oncologia	1,250	87.500 testes/ano

Especialistas em doenças pulmonares e da tireóide

A Veracyte tem como alvo especialistas em doenças pulmonares e tireoidianas com plataformas avançadas de diagnóstico. Em 2023, a empresa documentou:

• 425 contas especializadas em pulmonar ativo
• 310 Contas de doenças da tireóide ativas
• Volume total de teste: 62.000 testes anualmente

Laboratórios de Diagnóstico Hospitalar

Os laboratórios de diagnóstico hospitalar representam um segmento crítico de clientes para a Veracyte. A penetração atual do mercado inclui:

Tipo de laboratório	Número de contas	Volume anual de teste
Centros Médicos Acadêmicos	78	45.200 testes
Hospitais comunitários	212	93.500 testes

Departamentos de Patologia

A Veracyte suporta 340 departamentos de patologia nos Estados Unidos, com uma oferta focada de soluções de diagnóstico molecular.

Pacientes individuais

Métricas individuais de engajamento do paciente para 2023:

• Total de testes de pacientes processados: 175.000
• Cobertura de teste genômico: 42 estados
• Taxa de satisfação do paciente: 89%

Total de quebra do segmento de clientes para 2023:

Categoria de cliente	Número de contas	Volume anual de teste
Provedores de oncologia	1,250	87,500
Especialistas pulmonares/tireóides	735	62,000
Laboratórios hospitalares	290	138,700
Departamentos de Patologia	340	55,000
Pacientes individuais	N / D	175,000

Veracyte, Inc. (VCYT) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Veracyte registrou despesas de P&D de US $ 119,8 milhões, representando uma parcela significativa de seus custos operacionais.

2022

US $ 104,3 milhões

62.4%

2023

US $ 119,8 milhões

68.2%

Ano	Despesas de P&D	Porcentagem de receita

Ensaio clínico e despesas de validação

Os custos de ensaios clínicos para a Veracyte em 2023 foram de aproximadamente US $ 42,5 milhões, focados na validação de testes genômicos.

Custos operacionais de vendas e marketing

As despesas de vendas e marketing da Veracyte em 2023 totalizaram US $ 87,6 milhões.

Equipe de vendas diretas

US $ 52,3 milhões

Marketing digital

US $ 18,9 milhões

Marketing de conferência e evento

US $ 16,4 milhões

Canal de vendas	Alocação de custos

Manutenção de infraestrutura de tecnologia

Os custos de manutenção da infraestrutura tecnológica foram de US $ 24,7 milhões em 2023.

• Infraestrutura de computação em nuvem: US $ 12,3 milhões
• Sistemas de segurança cibernética: US $ 6,5 milhões
• Manutenção de rede e hardware: US $ 5,9 milhões

Despesas regulatórias de conformidade e certificação

Os custos de conformidade regulatória para 2023 foram de US $ 15,2 milhões.

Certificação FDA

US $ 7,6 milhões

Certificação da Clia

US $ 4,3 milhões

Taxas legais e de consultoria

US $ 3,3 milhões

Categoria de conformidade	Despesa

Veracyte, Inc. (VCYT) - Modelo de negócios: fluxos de receita

Vendas e reembolsos de teste de diagnóstico

Em 2023, a Veracyte registrou receita total de US $ 237,1 milhões. As vendas de testes de diagnóstico representaram a fonte de receita primária, com os principais testes, incluindo:

Teste de diagnóstico	Receita anual (2023)
Teste da tireóide Afirma	US $ 89,4 milhões
Teste de Pulmão de Percepta	US $ 42,6 milhões
Teste de próstata decifra	US $ 61,2 milhões

Licenciamento de tecnologias de diagnóstico

A receita de licenciamento de 2023 totalizou US $ 15,3 milhões, com parcerias importantes, incluindo:

• Licenciamento de tecnologia genômica para empresas farmacêuticas
• Licenciamento de plataforma de diagnóstico molecular
• Acordos de licenciamento de propriedade intelectual

Parcerias de desenvolvimento de diagnóstico complementares

As receitas de parceria em 2023 atingiram US $ 22,7 milhões, com colaborações, incluindo:

Parceiro	Foco em parceria	Contribuição estimada da receita
Diagnóstico da Roche	Diagnóstico de Companio de Oncologia	US $ 8,5 milhões
Merck	Teste de oncologia de precisão	US $ 6,2 milhões

Serviços de análise de dados genômicos

Os serviços de análise de dados genômicos geraram US $ 18,9 milhões em 2023, com serviços como::

• Perfil genômico abrangente
• Interpretação de dados de diagnóstico molecular
• Serviços de consulta genômica clínica

Modelos de assinatura de teste de diagnóstico molecular

A receita baseada em assinatura para serviços de diagnóstico molecular em 2023 totalizou US $ 12,5 milhões, com ofertas incluindo:

• Assinaturas anuais de teste molecular
• Pacotes de análise genômica recorrentes
• Serviços contínuos de monitoramento de diagnóstico

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.