Veracyte, Inc. (NASDAQ:VCYT) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET
Company Participants
Shayla Gorman - Director, IR
Marc Stapley - CEO & Director
Rebecca Chambers - EVP & CFO
Conference Call Participants
Matthew Sykes - Goldman Sachs Group
Puneet Souda - Leerink Partners
Sung Ji Nam - Scotiabank
Jacob Krahenbuhl - Stephens Inc.
Joseph Conway - Needham & Company
Operator
Good day, and thank you for standing by. Welcome to the Veracyte Second Quarter 2023 Financial Results Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Shayla Gorman, Director, Investor Relations.
Shayla Gorman
Good afternoon, everyone, and thanks for joining us today for a discussion of our second quarter 2023 financial results. With me today are Marc Stapley, Veracyte's Chief Executive Officer; and Rebecca Chambers, our Chief Financial Officer.
Veracyte issued a press release earlier this afternoon detailing our second quarter 2023 financial results. This release, along with the business and financial presentation is available in the Investor Relations section of our website at veracyte.com.
Before we begin, I'd like to remind you that various statements that we may make during this call will include forward-looking statements as defined under applicable securities laws. Forward-looking statements are subject to risks and uncertainties, and the company can give no assurance they will prove to be correct. Further, we are not under any obligation to provide further updates on our business trends or our performance during the quarter. To better understand the risks and uncertainties that could cause actual results to differ, we refer you to the documents that Veracyte files with the Securities and Exchange Commission, including Veracyte's most recent Form 10-Q and 10-K.
In addition, this call will include certain non-GAAP financial measures. Reconciliation of these measures to the most directly comparable GAAP financial measures are included in today's earnings release accessible from the IR section of Veracyte's website.
I will now turn the call over to Marc Stapley, Veracyte's CEO.
Marc Stapley
Thanks, Shayla, and thanks, everyone, for joining us today. Our second quarter was incredibly strong with revenue of over $90 million, representing growth of 24% compared to the prior year. This success was driven by our core testing business, which grew an impressive 37% and is another clear demonstration of our proven framework of driving test adoption through robust clinical evidence, reimbursement and guideline inclusion.