Free Post Earnings Research Report: Exact Sciences’ Quarterly Revenues Jumped 148.02%

Stock Monitor: Biocept Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on Exact Sciences Corp. (NASDAQ: EXAS) ("EXAS"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EXAS. On February 22, 2018, Exact Sciences reported financial results for the fourth quarter and full year ended December 31, 2017. The Company surpassed analysts' estimates for revenue as well as earnings in the fourth quarter of 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Exact Sciences most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

EXAS' Laboratory service revenue reached $87.41 million for Q4 FY17, up 148.02% from $35.24 million in Q4 FY16. This exceeded analysts' consensus estimates of $87.3 million. The Company completed approximately 176,000 Cologuard tests in Q4 FY17, an increase of about 115% from previous year's corresponding quarter.

During Q4 FY17, EXAS' cost of sales was $23.5 million compared to $13.87 million in Q4 FY16, reflecting an increase of 69.46%. The Company's gross profit was $63.91 million for Q4 FY17, which is almost 2.99 times the gross profit of $21.38 million in Q4 FY16. EXAS' gross margin improved 12.46% to 73.12% in the reported quarter.

EXAS incurred operating expenses of $87.04 million in Q4 FY17, 47.32% higher than $59.09 million in Q4 FY16. The Company's research and development (R&D) advanced 78.97% to $12.68 million y-o-y, general and administrative (G&A) surged 56.95% to $33.74 million y-o-y, and sales and marketing expenses increased 33.18% to $40.63 million y-o-y in Q4 FY17. EXAS had an operating loss of $23.13 million in the quarter under review, after an operating loss of $37.71 million in the previous year's same quarter.

EXAS reported a net loss of $21.76 million, or $0.18 per share, in Q4 FY17 compared to a net loss of $37.17 million, or $0.34 per share, in Q4 FY16. Analysts estimated a loss of $0.27 per share for Q4 FY17.

For the year ending December 31, 2017, EXAS' laboratory service revenues were $265.99 million, up 167.66% from $99.38 million in FY16. The Company screened a total of 571,000 people with Cologuard in FY17. EXAS' gross profit advanced 244.76% to $186.79 million y-o-y in FY17. The Company incurred an operating loss of $118.31 million in the reported year, after an operating loss of $169.02 million in the previous year. The Company's net loss narrowed to $114.4 million, or $0.99 per share, in FY17 from $167.22 million, or $1.30 per share, in FY16.

Cash Matters

EXAS had cash and cash equivalents of $77.49 million as on December 31, 2017, 58.40% higher than $48.92 million as on December 31, 2016. The Company's long-term debt reduced 7.86% to $4.27 million as on December 31, 2017, from $4.63 million as on December 31, 2016.

The Company raised an estimated $671.3 million, net, through an offering of convertible notes in the reported quarter.

Outlook

For full-year 2018, EXAS expects revenue to be in the range of $420 million to $430 million. The Company expects a completed Cologuard test volume of 900,000-920,000 tests during FY18.

Stock Performance Snapshot

April 05, 2018 - At Thursday's closing bell, Exact Sciences' stock slightly fell 0.42%, ending the trading session at $40.50.

Volume traded for the day: 2.71 million shares.

Stock performance in the past twelve-month period – up 78.49%

After yesterday's close, Exact Sciences' market cap was at $4.79 billion.

The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.

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