Cancer Diagnostic Firm Exact Sciences' CEO Says Strong Q1 Paves Way For 'Transformative' 2025, Lifts Annual Guidance

Exact Sciences Corp.EXAS on Thursday reported a first-quarter 2025 EPS loss of 21 cents, down from a 37-cent loss a year ago, beating the analyst consensus loss estimate of 38 cents.

The company reported quarterly sales of $706.78 million, up 11% year over year on a reported and core revenue basis, beating the consensus estimate of $688.64 million.

Screening revenue was $540 million, an increase of 14%, and Precision Oncology's revenue was $166.8 million, an increase of 2% or 4% on a core revenue basis.

"Our strong first quarter results pave the way for 2025 to mark our most transformative year yet," said Kevin Conroy, chairman and CEO. “With growing momentum in our commercial organization and improved profitability, we raised our full-year outlook and continue to build a foundation for sustained long-term growth."

Guidance: Exact Sciences raised its fiscal 2025 sales guidance from $3.02 billion-3.08 billion to $3.07 billion-3.12 billion versus the consensus of $3.06 billion.

The guidance includes a screening sales forecast of $2.39 billion—$2.43 billion, compared to previous guidance of $2.35 billion—$2.39 billion.

Precision Oncology sales are expected to be $680 million—$695 million, compared to prior guidance of $675 million—$695 million.

The company expects 2025 Adjusted EBITDA of $425 million—$455 million, up from previous guidance of $410 million—$440 million.

“Simply put, this was a solid first quarter out of the gate and we believe Exact is well positioned to continue to show modest upside throughout the year. This upside, coupled with pipeline catalysts like blood-based CRC screening test data later this summer, keep us positive on the long-term prospects,” William Blair writes.

Analyst Andrew F. Brackmann added, “In sum, this was a positive update and helped build support for a bullish thesis that can drive the stock higher over the course of the year. Shares trade at a very compelling forward revenue multiple of 3.5 times, leaving ample room for multiple expansion.”

William Blair reiterated the Outperform rating.

Price Action: At the last check on Friday, EXAS stock was up 11.3% at $52.50 during the premarket session.

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