- Exact Sciences‘ revenue for the first quarter exceeded expectations, amounting to $637.5 million. This is a 5.8% increase compared to the same period last year, surpassing the estimated $629.8 million.
- Exact Sciences‘ screening revenue for the first quarter also exceeded expectations. With a tally of $474.8 million, it showed a 7.1% year-on-year increase, beating the estimated $470.9 million.
- Precision Oncology revenue showed a growth of 4.7% year-on-year, totaling $162.7 million. This beat the earlier estimated revenue of $160.1 million.
- The company incurred a loss per share of 60 cents in the first quarter, higher than last year’s loss per share of 42 cents, and also exceeding the estimated loss per share of 46 cents.
- The Adjusted Ebitda was $39.2 million, marking a decrease of 15% year-on-year. Nonetheless, this figure was higher than the estimated $25.7 million.
- The Adjusted gross margin stood at 73%, down by 1 percentage point from last year’s 74%. This figure is, however, close to the estimated 73.7%.
- The current stock market outlook stands at 21 buys, 2 holds, and 0 sells.
Exact Sciences on Smartkarma
Analyst coverage of Exact Sciences on Smartkarma showcases positive sentiment from Baptista Research analysts. In the report “Exact Sciences Corporation: Launch Of MRD product OncoDetect & Other New Products! – Major Drivers,” the firm’s substantial growth and profitability in 2023 are highlighted. With core revenue rising by 24% to $2.5 billion and adjusted EBITDA reaching $362 million, Exact Sciences attributed its success to advancing cancer eradication through innovative screening and precision oncology under key brands like Cologuard, Oncotype DX, and PreventionGenetics.
In another report by Baptista Research titled “Exact Sciences Corporation: Cologuard Market Positioning & Long-Term Growth Strategy! – Major Drivers,” Exact Sciences achieved a positive outcome in the quarter with over 10,000 new healthcare professionals ordering Cologuard. This contributed to a total of more than 331,000 orders since its launch. Looking ahead, Exact Sciences raised its total revenue guidance for the year, expecting it to fall within the range of $2.476 billion to $2.486 billion, indicating confidence in its long-term growth prospects.
A look at Exact Sciences Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Exact Sciences Corp. is set for a promising long-term future, according to the Smartkarma Smart Scores analysis. With an impressive Growth score of 5, the company is projected to expand significantly in the coming years. This indicates a robust potential for business development and revenue growth. Additionally, the company has received solid scores of 3 in both Value and Resilience, showcasing a balanced approach to value for investors and a resilient business model that can withstand market challenges.
Although Exact Sciences scores lower in the Dividend and Momentum categories, with scores of 1 and 3 respectively, the overall outlook remains positive based on the strong Growth score. The company’s dedication to developing and commercializing a non-invasive molecular screening test for colorectal cancer positions it well for success in the long run. Exact Sciences Corp. continues to focus on its innovative stool-based DNA test, which can detect genetic mutations associated with colorectal cancer, demonstrating a commitment to advancing early detection and prevention in the fight against this disease.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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