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Mar 31, 2022
Exact Sciences Q1 2022 Earnings Report
Reported a revenue increase driven by screening and precision oncology, with strategic investments aimed at transforming cancer diagnostics and treatment.
Key Takeaways
Exact Sciences Corp. announced first quarter 2022 results with a total revenue of $486.6 million, a 21% increase compared to the same period in 2021. The growth was primarily driven by a 28% increase in Screening revenue and an 18% increase in Precision Oncology revenue. The company is focused on expanding its cancer diagnostics and treatment solutions.
Total first quarter revenue reached $487M, including $307M from Screening, $153M from Precision Oncology, and $27M from COVID-19 testing.
Excluding COVID-19 testing, total first quarter revenue increased by 24% compared to Q1 2021.
Screening revenue growth was attributed to improved sales team productivity, Cologuard rescreens, and Cologuard use in the 45-49 age group.
The company tested a record number of people with Cologuard® and Oncotype DX®.
Exact Sciences
Exact Sciences
Exact Sciences Revenue by Segment
Revenue by Segment
Screening Revenue
CapyFin.comPrecision Oncology Revenue
CapyFin.com Forward Guidance
The company anticipates revenue of $1,985-$2,032 million during 2022.
Positive Outlook
- Screening revenue of $1,350-$1,372 million, including $40-$42 million from PreventionGenetics
- Precision Oncology revenue of $595-$610 million
- COVID-19 testing revenue of $40-$50 million
- Revenue guidance has been raised
- Revenue guidance has been narrowed toward the high end of the previously expected range
- The company anticipates revenue of $1,985-$2,032 million during 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income