Exact Sciences Q3 2021 Earnings Report
Key Takeaways
Exact Sciences reported Q3 2021 revenue of $456.4 million, a 12% increase compared to Q3 2020. Screening revenue increased by 31% to $280.4 million, and Precision Oncology revenue increased by 59% to $145.4 million. The company's net loss was $166.9 million, or $0.97 per share, compared to a net loss of $202.5 million, or $1.35 per share in the same period of 2020.
Total revenue increased by 12% to $456.4 million.
Screening revenue grew by 31% to $280.4 million.
Precision Oncology revenue increased by 59% to $145.4 million.
Non-GAAP gross margin was 75%.
Exact Sciences
Exact Sciences
Exact Sciences Revenue by Segment
Forward Guidance
The company anticipates revenue of $1,722-$1,737 million during 2021, including Screening revenue of $1,050-$1,055 million, Precision Oncology revenue of $547-$552 million, and COVID-19 testing revenue of $125-$130 million.
Challenges Ahead
- Screening revenue expectations are lower due to the rapid rise in Delta variant cases starting in late July.
- In-person sales calls significantly decreased in August and September.
Revenue & Expenses
Visualization of income flow from segment revenue to net income