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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.
Exact Sciences
Exact Sciences
Exact Sciences Revenue by Segment
Revenue by Segment
Screening Revenue
CapyFin.comPrecision Oncology Revenue
CapyFin.com 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.
- The company terminated its license and sponsored research agreements with The Translational Genomics Research Institute related to its Targeted Digital Sequencing technology.
Revenue & Expenses
Visualization of income flow from segment revenue to net income