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MADISON, Wis. - Exact Sciences Corp. (NASDAQ:EXAS) reported better-than-expected fourth quarter results on Tuesday, but its shares fell 1.5% in after-hours trading as investors appeared to seek more ambitious guidance for 2025.
The cancer screening and diagnostic test provider posted adjusted earnings per share of -$0.06 for the fourth quarter, surpassing analyst estimates of -$0.33. Revenue came in at $713.4 million, exceeding the consensus forecast of $694.92 million and representing a 10% YoY increase.
Screening revenue, which includes the company’s Cologuard colorectal cancer test, grew 14% YoY to $553 million. Precision Oncology revenue remained relatively flat at $161 million, up 0.4% YoY.
Despite the strong quarterly performance, Exact Sciences’ stock declined following the earnings release. The company’s 2025 revenue guidance of $3.025-$3.085 billion, while in line with analyst expectations of $3.06 billion, may not have been as robust as some investors hoped.
"The Exact Sciences team is off to a good start in 2025, building on the momentum we created in the fourth quarter," said Kevin Conroy, Chairman and CEO of Exact Sciences. "This year is on track to be the most productive in company history, with continued execution from our core business and the launch of three innovative cancer tests."
Exact Sciences plans to launch three new cancer tests in 2025: Cologuard Plus, a next-generation colorectal cancer screening test; Oncodetect, a molecular residual disease test; and Cancerguard, a multi-cancer screening test.
The company reported an operating cash flow of $47 million and free cash flow of $11 million for the fourth quarter. As of December 31, 2024, Exact Sciences held $1.04 billion in cash, cash equivalents, and marketable securities.
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