Brown Capital Adds Veracyte Citing 50% Market Share and $3B Pipeline Opportunity
Brown Capital Management added Veracyte to its Small Company Fund in Q4 2025, citing the company’s >50% share in Decipher and Afirma tests, which generated 90% of 2024 revenue. Veracyte turned profitable in 2024, holds $400M cash and is developing new tests that could add a $3B market opportunity.
1. Brown Capital Fund Adds Veracyte
In Q4 2025, the Small Company Fund declined 1.50% versus a 1.22% gain for the Russell 2000 Growth, prompting the addition of Veracyte to the portfolio for its robust fundamentals.
2. Veracyte's Market Dominance
Veracyte holds over 50% share in both Decipher and Afirma genomic tests, which accounted for 90% of its 2024 revenue, supported by broad clinical validation and reimbursement coverage.
3. Profitability, Cash and Pipeline Outlook
Veracyte turned profitable in 2024, has expanded margins, maintains over $400 million cash, has been free‐cash‐flow positive since 2023, and is advancing breast, international prostate and lung cancer tests that could unlock a $3 billion market opportunity.