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Sep 30, 2024
Exact Sciences Q3 2024 Earnings Report
Delivered record revenue and cash flow, improved adjusted EBITDA, advanced pipeline.
Key Takeaways
Exact Sciences Corp. reported a 13% increase in total revenue to $709 million for Q3 2024, driven by growth in both Screening and Precision Oncology segments. The company achieved significant improvements in profitability, with adjusted EBITDA reaching $99 million and an adjusted EBITDA margin of 14%.
Total revenue increased by 13% to $709 million, with Screening revenue at $545 million and Precision Oncology revenue at $164 million.
Net loss was $38 million, while adjusted EBITDA improved to $99 million, with adjusted EBITDA margin increasing to 14%.
Operating cash flow reached $139 million and free cash flow was $113 million.
FDA approved Cologuard Plus test and secured acceptance from a peer reviewed journal for the first publication on the Oncodetect test.
Revenue by Segment
Forward Guidance
The Company has updated its full-year 2024 revenue and adjusted EBITDA guidance.
Positive Outlook
- Total revenue is expected to be between $2.730 and $2.750 billion.
- Screening revenue is projected to be between $2.080 and $2.095 billion.
- Precision Oncology revenue is anticipated to be between $650 and $655 million.
- Adjusted EBITDA is forecasted to be between $310 and $320 million.
- Focus resources on its key strategic priorities.
Challenges Ahead
- The updated outlook for the full year doesn’t reflect the company's full potential.
- Plan to accelerate growth in 2025.
- The company recorded impairment charges related to certain of our domestic facilities.
- Closure of domestic facilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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