Exact Sciences Reports $706.8 Million Revenue in Q1 2025, Driven by Screening Growth

Exact Sciences Corporation reported a total revenue of $706.8 million for the first quarter of 2025, marking an increase of 10.9% from $637.5 million in the same period of 2024. The growth was primarily driven by a 13.7% rise in screening revenue, which reached $540.0 million, attributed to increased test volumes for its Cologuard product. Precision oncology revenue also saw a modest increase of 2.5%, totaling $166.8 million, largely due to higher demand for Oncotype DX tests, particularly in international markets. Despite the revenue growth, the company reported a net loss of $101.2 million, a slight improvement from a net loss of $110.2 million in the prior year.

In terms of operational metrics, Exact Sciences delivered test results to approximately 1.2 million patients during the quarter, including a record number for the Oncotype DX test. The company also launched two new products: Cologuard Plus, an enhanced version of its colorectal cancer screening test, and Oncodetect, a molecular residual disease test. These launches are part of the company's strategy to expand its product offerings and improve patient outcomes. The company’s employee headcount increased to 3,200 as of March 31, 2025, reflecting its ongoing investment in growth and innovation.

Exact Sciences' financial position showed a decrease in total assets, which fell to $5.71 billion from $5.93 billion at the end of 2024. The decline was primarily due to a reduction in cash and cash equivalents, which decreased to $347.1 million from $600.9 million. The company’s liabilities also decreased, with total liabilities at $3.31 billion compared to $3.53 billion at the end of the previous year. The company’s stockholders' equity slightly decreased to $2.40 billion from $2.40 billion, reflecting the net loss incurred during the quarter.

The company attributed its financial performance to several factors, including increased test volumes, improved gross margins, and a reduction in operating expenses as a percentage of revenue. The gross profit margin improved to 70.8%, up from 70.0% in the prior year, driven by operational efficiencies. Exact Sciences expects continued revenue growth from its existing products and new launches, although it anticipates ongoing net losses in the near term as it invests in research and development and expands its market presence.

Looking ahead, Exact Sciences aims to enhance its product portfolio and increase adoption of its tests, particularly in underserved populations. The company is also focused on expanding its international presence, especially for its Oncotype DX tests in Japan. With a strong cash position and access to a $500 million revolving credit facility, Exact Sciences is well-positioned to support its growth initiatives and navigate the evolving landscape of cancer diagnostics.