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Sep 30, 2025
Exact Sciences Q3 2025 Earnings Report
Exact Sciences reported record revenue and cash flow, and raised full-year guidance for the third quarter of 2025.
Key Takeaways
Exact Sciences delivered a strong third quarter in 2025, achieving record total revenue of $851 million, a 20% increase year-over-year. The company also reported a significant improvement in net loss and a substantial increase in adjusted EBITDA and free cash flow. Key to their growth was the performance of their Screening and Precision Oncology segments, alongside the launch of their new multi-cancer early detection test, Cancerguard.
Record total third quarter revenue of $851 million, marking a 20% increase year-over-year.
Net loss improved by $19 million to $20 million, or $0.10 per share.
Adjusted EBITDA increased by 37% to $135 million, with an adjusted EBITDA margin of 16%.
Generated record cash from operations of $220 million and free cash flow of $190 million, up 59% and 69% respectively.
Revenue by Segment
Forward Guidance
Exact Sciences raised its full-year 2025 revenue and adjusted EBITDA guidance, reflecting strong performance and confidence in future growth.
Positive Outlook
- Raised full-year 2025 total revenue guidance midpoint by $77.5 million to $3.220 - $3.235 billion.
- Raised full-year 2025 adjusted EBITDA guidance midpoint by $10 million to $470 - $480 million.
- Screening revenue guidance increased by $60 million at the midpoint to $2.510 - $2.520 billion.
- Precision Oncology revenue guidance increased by $17.5 million at the midpoint to $710 - $715 million.
- Anticipated total revenue year-over-year growth rate of 17%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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