分组1 - Exact Sciences reported a quarterly loss of $0.50 per share, which aligns with the Zacks Consensus Estimate, compared to a loss of $0.42 per share a year ago [1] - The company achieved revenues of $637.52 million for the quarter ended March 2024, exceeding the Zacks Consensus Estimate by 2.01% and up from $602.45 million year-over-year [1] - Over the last four quarters, Exact Sciences has surpassed consensus EPS estimates three times and revenue estimates four times [1] 分组2 - Exact Sciences shares have declined approximately 17% since the beginning of the year, contrasting with the S&P 500's gain of 8.8% [2] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [2] - The current consensus EPS estimate for the next quarter is -$0.25 on revenues of $698.32 million, and for the current fiscal year, it is -$0.86 on revenues of $2.83 billion [4] 分组3 - The Medical - Biomedical and Genetics industry, to which Exact Sciences belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook [4] - The performance of Exact Sciences may be influenced by the overall industry outlook, as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [4] - Another company in the same industry, Allogene Therapeutics, is expected to report results for the quarter ended March 2024 on May 13 [4]

Financial Performance - Total revenue for Q1 2024 was $637.5 million, compared to $602.5 million in Q1 2023, marking a 5.8% increase[181]. - Screening revenue increased to $474.8 million in Q1 2024 from $443.2 million in Q1 2023, a growth of 7.1%[181]. - Precision Oncology revenue rose to $162.7 million in Q1 2024, up from $155.4 million in Q1 2023, reflecting a 4.7% increase[181]. - The company expects continued revenue growth for Cologuard and Oncotype tests, influenced by test volume and patient adherence rates[183]. - The company expects to continue incurring net losses for the near future despite improving operating results[179]. Cash and Investments - As of March 31, 2024, the company had approximately $347.5 million in unrestricted cash and cash equivalents and $304.6 million in marketable securities[199]. - Cash used in operating activities for Q1 2024 was primarily to fund a net loss, with increased operating expenses offset by higher revenue from completed Cologuard and Oncotype tests[202]. - Cash used in investing activities increased by $246.1 million in Q1 2024 due to a shift towards fixed income securities and an $8.3 million increase in property, plant, and equipment purchases[203]. - Cash provided by financing activities decreased in Q1 2024, primarily due to $138.0 million proceeds from convertible notes issued in Q1 2023[204]. - In April 2024, the company issued $620.7 million in new Convertible Notes due in 2031, retiring $359.7 million of 2028 Notes and receiving $266.8 million in cash[206]. - The company has access to a $150.0 million revolving line-of-credit, with no funds drawn as of March 31, 2024[197]. - As of March 31, 2024, the company had $50.0 million in outstanding variable rate debt, with a potential $0.5 million increase in annual interest expense from a hypothetical 100 basis point increase in market interest rates[214]. Research and Development - The company is committed to investing in clinical trials to enhance existing products and bring new products to market, including the Cologuard Plus test[175]. - Research and development expenses increased to $110.6 million in Q1 2024 from $95.4 million in Q1 2023, a rise of 15.9%[187]. Testing and Screening - The Cologuard Plus test demonstrated an overall sensitivity of 94% for colorectal cancer at a specificity of 91%, representing a 30% relative improvement compared to previous tests[171]. - The company tested more than 1 million people globally for cancer and rare diseases[168]. - The Oncotype DX test is now reimbursed in Japan, potentially allowing over 100 women a day to learn about their cancer recurrence risk[178]. - The company plans to develop a multi-cancer screening test, Cancerguard, with a mean sensitivity of 61% and mean specificity of 98.2%[171]. - The company aims to expand screening access to underserved populations, increasing the number of tests conducted in 2024[176]. - The company is focusing on enhancing the performance characteristics of the Cologuard test to reduce false positive rates[171]. - The company has expanded the number of Oncotype DX international ordering providers by over 20% since Q1 2023[168]. Financial Controls and Reporting - There were no significant changes in internal control over financial reporting during Q1 2024 that materially affected the company's internal controls[218]. - The company had no off-balance sheet arrangements as of March 31, 2024[207]. - The company continues to evaluate its critical accounting policies and estimates, with no material changes since the 2023 Form 10-K[210]. - The company reported an increase in cash used for operating activities due to timing of payments on accounts payable and accrued expenses[202]. Other Financial Metrics - As of March 31, 2024, the company had an accumulated deficit of approximately $3.58 billion[179]. - Investment income increased significantly to $6.2 million in Q1 2024 from $0.5 million in Q1 2023[193]. - Interest expense for Q1 2024 was $7.9 million, compared to net interest income of $4.1 million in Q1 2023[194]. - The company had open foreign currency forward contracts with notional amounts of $46.2 million as of March 31, 2024, to mitigate foreign exchange rate exposure[216].

Revenue Performance - Total revenue for Q1 2024 was $638 million, a 6% increase compared to $602 million in Q1 2023[2] - Screening revenue reached $475 million, reflecting a 7% increase year-over-year[6] - Precision Oncology revenue was $163 million, up 5% from the previous year, or 4% on a core revenue basis[6] - Revenue for the three months ended March 31, 2024, was $637,524,000, representing a 6% increase from $602,450,000 in the same period of 2023[23] - Screening revenue increased by 7% to $474,798,000 from $443,195,000 year-over-year[23] - Precision Oncology revenue grew by 5% to $162,726,000 compared to $155,432,000 in the prior year[23] Financial Guidance - The company maintains its full-year 2024 revenue guidance of $2.810-$2.850 billion, with Screening revenue expected to be $2.155-$2.175 billion and Precision Oncology revenue projected at $655-$675 million[5] Operating Performance - Total operating expenses for the three months ended March 31, 2024, were $743,948,000, up from $679,541,000 in the same period of 2023[27] - Adjusted EBITDA for the three months ended March 31, 2024, was $39,204,000, down from $45,914,000 in the same period of 2023[29] Profitability and Loss - Net loss for the quarter was $110 million, or $0.60 per share, compared to a net loss of $74 million, or $0.42 per share in Q1 2023[6] - Net loss for the three months ended March 31, 2024, was $110,228,000, compared to a net loss of $74,151,000 in the prior year[29] - Non-GAAP gross profit for the three months ended March 31, 2024, was $467,423,000, with a non-GAAP gross margin of 73%[27] Cash Flow and Liquidity - Cash, cash equivalents, and marketable securities totaled $652 million at the end of the quarter[6] - Cash and cash equivalents decreased to $347,487,000 as of March 31, 2024, from $605,378,000 at the end of 2023[21] - Free cash flow for Q1 2024 was $(119,960) thousand, compared to $(67,575) thousand in Q1 2023, reflecting a worsening cash flow situation[37] - The company experienced a net decrease in cash, cash equivalents, and restricted cash of $(257,891) thousand in Q1 2024, compared to a net increase of $178,872 thousand in Q1 2023[37] - Net cash used in operating activities for Q1 2024 was $(82,311) thousand, compared to $(38,215) thousand in Q1 2023, representing a significant increase in cash outflow[37] - Net cash provided by investing activities was $(171,438) thousand in Q1 2024, a decrease from $82,941 thousand in Q1 2023, indicating a shift towards more cash being used for investments[37] - Net cash used in financing activities was $(3,002) thousand in Q1 2024, a decrease from $133,596 thousand in Q1 2023, suggesting reduced financing activities[37] Asset and Equity Position - Total assets as of March 31, 2024, were $6,376,321,000, a decrease from $6,471,334,000 at the end of 2023[21] - Total stockholders' equity as of March 31, 2024, was $3,132,618,000, slightly down from $3,145,305,000 at the end of 2023[21] Product and Market Developments - The company delivered over one million Cologuard and Oncotype DX test results to patients in Q1 2024[3] - Exact Sciences is preparing for FDA approval and commercialization of Cologuard Plus, which features novel biomarkers and improved laboratory processes[11] - The Oncotype DX Breast Recurrence Score test is recognized as the standard of care in breast cancer treatment guidelines[12] Currency Effects - Effects of exchange rate changes on cash and cash equivalents resulted in a loss of $(1,140) thousand in Q1 2024, compared to a gain of $550 thousand in Q1 2023[37] Overall Financial Summary - Overall, the financial data indicates a challenging quarter with increased cash outflows and reduced cash reserves compared to the previous year[37]

In the latest market close, Exact Sciences (EXAS) reached $63.24, with a -0.46% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.02%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.1%.Shares of the molecular diagnostics company witnessed a loss of 2.62% over the previous month, beating the performance of the Medical sector with its loss of 4.52% and the S&P 500's loss of 3.01%.Analysts and investors alike will b ...

Exact Sciences (EXAS) is set to report its first-quarter 2024 results on May 8, after the closing bell.Earnings Surprise HistoryExact Sciences has an impeccable earnings surprise history so far. The company beat earnings estimates in each of the last four trailing quarters, delivering an average earnings surprise of 51.48%.The Zacks Consensus Estimate for first-quarter 2024 loss per share is pegged at 50 cents. The consensus estimates for first-quarter revenues of $624.9 million.Before we get into what to e ...

Market Performance - Exact Sciences (EXAS) closed at $63 22, with a -1% movement compared to the previous day, lagging behind the S&P 500's daily loss of 0 58% [1] - Over the past month, shares of Exact Sciences gained 3 17%, outperforming the Medical sector's loss of 6 07% and the S&P 500's loss of 1 09% [1] Earnings and Revenue Expectations - Exact Sciences is expected to post earnings of -$0 50 per share in its upcoming earnings report on May 8, 2024, marking a year-over-year decline of 19 05% [1] - The Zacks Consensus Estimate for revenue projects net sales of $624 95 million, up 3 73% from the year-ago period [1] - For the entire year, the Zacks Consensus Estimates forecast earnings of -$0 86 per share and revenue of $2 83 billion, indicating changes of +23 89% and +13 32%, respectively, compared to the previous year [2] Analyst Estimates and Revisions - Recent changes to analyst estimates for Exact Sciences should be noted, as positive alterations signify analyst optimism regarding the company's business and profitability [2] - The Zacks Consensus EPS estimate has remained unchanged over the last 30 days [3] Industry and Zacks Rank - Exact Sciences presently features a Zacks Rank of 2 (Buy) [3] - The Medical - Biomedical and Genetics industry, part of the Medical sector, has a Zacks Industry Rank of 82, placing it in the top 33% of all 250+ industries [3] - The Zacks Industry Rank shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [3]

Full disclosure, I’m not a tremendous fan of Cathie Wood. Generally, I think she makes some terrible picks. For example, what many would consider the best Cathie Wood stocks to buy in April, and her two largest holdings were Coinbase (NASDAQ:COIN) and Tesla (NASDAQ:TSLA). Both companies’ valuations are in the stratosphere. And Coinbase is facing tremendous competition from Bitcoin (BTC-USD) ETFs, along with a potentially ruinous lawsuit by the SEC. Meanwhile Tesla is struggling amid a huge amount of competi ...

This company is innovating where it matters most, which could prove highly lucrative down the road.Cancer diagnostic specialist Exact Sciences (EXAS -0.04%) has lagged the market over the past three years. The pandemic and the economic troubles that followed disrupted the company's operations, and the healthcare leader remains unprofitable. However, one famous name on Wall Street continues to have faith in Exact Sciences.That person is Cathie Wood, CEO of Ark Invest, an investment management firm that still ...

Exact Sciences Corporation (EXAS) recently reported a promising outcome for the non-endoscopic Oncoguard Esophagus test, developed in collaboration with the Mayo Clinic Comprehensive Cancer Center. The test, currently in development for the detection of esophageal adenocarcinoma (EAC) and its precursors, including Barrett’s esophagus (BE), has demonstrated high sensitivity and specificity.The findings from the test’s algorithm training and testing were recently published in the Clinical Gastroenterology and ...

A month has gone by since the last earnings report for Exact Sciences (EXAS) . Shares have added about 4.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Exact Sciences due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Exact Sciences Q4 Loss Narrows, Revenues Rise ...