TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
MADISON, Wis. - Exact Sciences Corp. (NASDAQ:EXAS) saw its stock jump 8% after the cancer screening and diagnostic test provider reported better-than-expected first quarter revenue and raised its full-year outlook.
The company posted Q1 revenue of $707 million, up 11% YoY and surpassing analyst estimates of $688.78 million. Screening revenue, which includes Cologuard tests, grew 14% to $540 million, while Precision Oncology revenue increased 2% to $167 million.
However, Exact Sciences reported a wider-than-expected loss for the quarter. Q1 adjusted EPS came in at -$0.54, missing the -$0.33 consensus estimate.
Looking ahead, the company raised its full-year 2025 revenue guidance to $3.07-$3.12 billion, up from its prior outlook of $3.025-$3.085 billion and above the $3.06 billion analyst consensus. The midpoint of the new range implies 12% YoY growth.
"Our strong first quarter results pave the way for 2025 to mark our most transformative year yet," said Kevin Conroy, chairman and CEO of Exact Sciences.
The company highlighted the recent launches of its next-generation Cologuard Plus colon cancer screening test and Oncodetect molecular residual disease test as key growth drivers. Exact Sciences also plans to launch its CancerguardTM EX multi-cancer screening test in the second half of 2025.
While revenue growth was robust, Exact Sciences continues to operate at a loss. The company reported a Q1 net loss of $101 million, though this marked a $9 million improvement from the year-ago period. Adjusted EBITDA rose 61% to $63 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.