Veracyte Inc (VCYT)

Quick ratio

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Cash US$ in thousands 219,499 186,120 239,087 274,079 235,915 209,188 216,454 202,463 191,142 177,890 154,247 170,112 153,447 163,615 173,197 164,029 327,545 324,062 349,364 345,080
Short-term investments US$ in thousands 101,220 101,235 50,354 — — — 0 0 0 0 24,605 0 10,551 — 3,964 4,100 — — — —
Receivables US$ in thousands 50,814 53,781 46,525 48,807 50,304 46,665 40,378 39,297 42,365 45,489 44,021 40,068 40,448 42,481 41,461 40,309 31,864 27,877 18,461 17,629
Total current liabilities US$ in thousands 76,433 75,125 78,633 70,313 72,339 58,052 61,241 57,260 58,151 55,993 62,614 58,352 59,345 62,543 64,151 50,037 36,105 32,709 16,781 13,919
Quick ratio 4.86 4.54 4.27 4.59 3.96 4.41 4.19 4.22 4.02 3.99 3.56 3.60 3.45 3.30 3.41 4.17 9.95 10.76 21.92 26.06

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($219,499K + $101,220K + $50,814K) ÷ $76,433K
= 4.86

The analysis of Veracyte Inc.'s quick ratio over the specified period indicates a consistently high level of short-term liquidity, with ratios well above 1.0 throughout. Beginning at 26.06 on September 30, 2020, the ratio experienced a significant decline through the subsequent quarters, reaching a low of approximately 3.30 by March 31, 2022. Despite this decline, the ratio stabilized at a relatively high level, fluctuating modestly within the 3.4 to 4.5 range through the end of 2024 and into mid-2025.

The initial elevated ratio in late 2020 suggests a strong liquidity position, with liquid assets substantially exceeding current liabilities. The marked reduction in early 2021 appears to reflect changes in the company's liquid asset structure or current liabilities, possibly due to strategic investments or operational shifts. Nevertheless, the ratio remains substantially above 1.0, indicating that Veracyte maintains a robust capacity to meet its short-term obligations without reliance on inventory sales. The gradual increase in recent periods, culminating in ratios approaching 4.54 by March 2025, suggests an improvement or maintenance of liquidity levels, potentially reflecting enhanced cash reserves or restrained current liabilities.

Overall, the trend underscores that Veracyte Inc. has sustained a strong liquidity profile, with a quick ratio consistently indicating that its liquid assets are multiple times greater than its current liabilities, thereby providing a buffer against short-term financial risks.