Veracyte

What Veracyte does

Veracyte is a genomic diagnostics company that develops and commercializes molecular tests used by urologists, oncologists, and pathologists to inform cancer diagnosis, prognosis, and treatment decisions. Its core menu spans the Decipher Prostate and Decipher Bladder genomic classifiers for urologic cancers, the Prosigna breast cancer test, and the TrueMRD minimal residual disease franchise acquired via C2i Genomics. The underlying technology is built on proprietary whole-transcriptome and whole-genome profiling platforms, supported by the GRID (Genomic Resource for Intelligent Discovery) research database and the Veracyte Data Platform, which together form a data flywheel for biomarker and AI model development.\n\nThe company makes money primarily by selling proprietary laboratory-developed tests to physicians, with reimbursement secured from Medicare and commercial payers via established coverage policies; Prosigna is additionally being distributed as a kit to broaden the channel. Commercial operations are anchored in the United States, with a specialty sales force targeting high-decision-making urologists and academic centers, and the business was recently rationalized through the bankruptcy of the French Veracyte SAS subsidiary to focus on higher-return core markets. Revenue is generated per test ordered, with growth driven by menu expansion (metastatic prostate, bladder, MRD) and deepening utilization within existing accounts.\n\nThe platform's scale and sample-processing capacity, combined with extensive gene-level measurement across large annotated cohorts, position Veracyte as a data-rich diagnostics franchise rather than a single-product vendor. Ongoing investments in GRID and the Veracyte Data Platform support both internal test development and potential future AI/biomarker partnerships.

Name

Veracyte

Legal name

Veracyte, Inc.

Website

https://veracyte.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Veracyte is a genomic diagnostics company that develops molecular tests — including Decipher Prostate, Decipher Bladder, Prosigna, and TrueMRD — used by urologists and oncologists to guide cancer diagnosis, prognosis, and treatment decisions.

Ownership category

akta.pro rank

Product category

Cancer Molecular Diagnostics

NAICS

Medical and Diagnostic Laboratories (62151), Medical Laboratories (621511), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Services-Medical Laboratories (8071), In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Laboratory Developed Tests (LDTs) & Specialized Clinical Lab Assays (HLAAALAN)

akta.pro secondary industries

Oncology Diagnostics (tumor profiling, MRD, liquid biopsy) (HLAAALAE), Clinical Biomarker Testing Services (central labs, trial enrollment/monitoring assays) (HLAAAMAC), Specialty & Biomarker Laboratory Services (Immunoassays/Flow/Cytometry) (HLAGAEAB)

Keywords

• Molecular cancer diagnostics
• Genomic testing services
• Laboratory developed tests
• Oncology biomarker testing
• Minimal residual disease monitoring

Headquarters

HQ city

South San Francisco

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Genomic Diagnostic Testing Services: Veracyte generates revenue primarily through providing molecular diagnostic testing services to healthcare providers and patients. Tests are billed per test performed, with reimbursement from Medicare (CMS), commercial insurance plans, and patient self-pay. The company operates its tests as laboratory-developed tests (LDTs) under CLIA certification in its own labs. Revenue is recognized when test results are delivered.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Veracyte develops and commercializes molecular diagnostic laboratory-developed tests (LDTs) for cancer, performed in its own CLIA-certified laboratories. Core offerings include the Afirma Genomic Sequencing Classifier for thyroid nodules, Decipher Prostate and Decipher Bladder genomic classifiers for urologic cancers, the Prosigna Breast Risk of Recurrence test, and the TrueMRD whole-genome minimal residual disease platform. Tests are reimbursed primarily through Medicare and commercial insurance, with revenue recognized upon delivery of test results.

Product overview

Veracyte offers a portfolio of genomic molecular diagnostic tests for cancer care spanning thyroid, prostate, bladder, breast, and lung cancers. The core offerings include five main laboratory-developed tests (LDTs): Afirma GSC for thyroid nodule diagnosis, Decipher Prostate and Decipher Bladder for urologic cancers, Prosigna Breast for breast cancer recurrence risk, and TrueMRD for minimal residual disease monitoring. These tests are unified by the Veracyte Diagnostics Platform, which performs whole-transcriptome analysis on every sample to generate an expanding database of genomic insights, and supported by the TrueMRD whole-genome MRD platform. The company also provides research-use-only databases (Decipher GRID and Afirma GRID) for collaborator access. Tests are primarily available in the United States through CLIA-certified laboratories, with Prosigna also available internationally as a CE-IVD product.

Differentiator

Problem solved

Functional benefit

Brands

• Afirma: Genomic Sequencing Classifier for thyroid nodule testing
• Decipher
• Prosigna
• TrueMRD

Products and services

• Afirma Genomic Sequencing Classifier (GSC) A whole-transcriptome genomic test performed on thyroid FNA samples to classify Bethesda III/IV nodules as Benign or Suspicious, helping endocrinologists and endocrine surgeons rule out cancer and avoid unnecessary thyroid surgery. Validated with 91% sensitivity and 96% negative predictive value.
• Decipher Prostate Genomic Classifier A 22-gene expression test measuring tumor aggressiveness in prostate cancer tissue to guide treatment decisions across localized, N1, and metastatic disease stages. The only gene expression test included in NCCN Guidelines for prostate cancer.
• Decipher Bladder Genomic Classifier A 219-gene molecular subtyping test that classifies bladder tumors by subtype (luminal versus non-luminal) to identify patients more likely to progress, be upstaged, or benefit from neoadjuvant chemo-immunotherapy.
• Prosigna Breast Risk of Recurrence Test A PAM50-based genomic test for early-stage hormone-receptor positive breast cancer that provides a Risk of Recurrence (ROR) score, 10-year distant recurrence probability, and chemotherapy benefit prediction. The only breast cancer test with Phase III Level 1A evidence for chemotherapy benefit prediction in patients with up to nine positive nodes.
• TrueMRD Monitoring Test for MIBC A tumor-informed whole-genome sequencing ctDNA test for minimal residual disease detection and recurrence monitoring in muscle-invasive bladder cancer patients post-cystectomy, detecting recurrence a median of 131 days earlier than standard imaging.

Quantifiable outcome

• 93.6-93.7% 5-year recurrence-free survival for breast cancer patients with low Prosigna scores treated with hormone therapy alone vs. 94.8-94.9% with chemotherapy (OPTIMA trial, n=4,400+)
• +5 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature7 records

Partnerships

One partnership is on record.

• Thyroid Cytopathology PartnerscoreStrategic or Co-development PartnerThyroid Cytopathology Partners is a specialized cytopathology practice that provides primary thyroid cytopathology diagnosis with automatic reflex to Afirma GSC testing when indeterminate results are obtained. This partnership enables integrated cytology-plus-molecular testing workflow for thyroid nodule evaluation, allowing providers to order both services through a single process.

Scale indicators19 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Natera: Natera develops and commercializes molecular diagnostic tests including Signatera (tumor-informed MRD) and Prospera (transplant rejection). Directly comparable to Veracyte in oncology MRD testing and CLIA-based laboratory services with strong salesforces targeting the same urology/oncology specialties.
• Guardant Health: Guardant Health offers liquid biopsy and genomic profiling tests (Guardant360, Guardant Reveal/MRD) for oncology. Competes head-to-head with Veracyte in cancer genomic profiling and MRD with similar business model (LDT services reimbursed by Medicare/commercial payers).
• Exact Sciences: Exact Sciences is a leading cancer diagnostics company with Cologuard (CRC screening) and the Oncodetect MRD test. Comparable as a publicly-traded molecular diagnostics company with LDT/IVD offerings sold through Medicare/commercial reimbursement, leveraging whole-transcriptome/methylation approaches for cancer.
• Myriad Genetics: Myriad Genetics offers molecular diagnostic tests including Prolaris (prostate), myChoice HRD, and BRACAnalysis. Direct competitor in genomic cancer testing with similar payor model; notably Kevin Haas (Veracyte's new CDTO) joined from Myriad where he was CTO.
• NeoGenomics: NeoGenomics provides oncology-focused clinical laboratory services including molecular testing, cytogenetics, and pathology. Competes with Veracyte in urologic and breast cancer molecular diagnostics, serving similar community oncology and hospital customers with CLIA-certified labs.
• Foundation Medicine (Roche): Foundation Medicine develops comprehensive genomic profiling tests (FoundationOne CDx, FoundationOne Liquid CDx) for solid tumors. Directly competes with Veracyte in oncology tumor profiling with similar LDT/Medicare-coverage model; operates as a subsidiary of Roche for global scale.

Emerging players

• Caris Life Sciences: Caris offers MI Profile (multi-platform molecular profiling) and Caris Assure MRD. Competes with Veracyte's Decipher in prostate and oncology molecular profiling but with broader multi-cancer focus. Private company with growing commercial presence.
• Tempus AI: Tempus provides AI-driven precision medicine including genomics profiling, MRD (Tempus xT/xR), and data analytics for oncology. Comparable platform/data-aggregation approach and oncology-focused molecular diagnostics; emerging public competitor with broad multimodal ambitions.
• Personalis: Personalis offers NeXT Personal (tumor-informed MRD) and ImmunoID NeXT for cancer immunotherapy. Comparable in MRD technology and oncology focus with whole-genome/whole-transcriptome sequencing capabilities overlapping Veracyte's TrueMRD platform.

Broad incumbents

• Bio-Rad Laboratories: Bio-Rad is a major life science and clinical diagnostics company with Droplet Digital PCR and other molecular diagnostic technologies. Provides underlying instrumentation and reagents for molecular diagnostics, including platforms used in CLIA-validated cancer tests like those Veracyte operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/veracyte
• YouTubeyoutube.com/@Veracyte/videos
• LinkedInlinkedin.com/company/veracyte-inc.

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds11 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veracyte