2023-05-09 16:12:31 ET
- Exact Sciences press release ( NASDAQ: EXAS ): Q1 GAAP EPS of -$0.42 beats by $0.34 .
- Revenue of $602.45M (+23.8% Y/Y) beats by $59.27M .
- Expect to turn free cash flow positive during 2023, ahead of previous target of 2024
- Core revenue was $597.8 million, an increase of 33 percent
- Screening revenue was $443.2 million, an increase of 45 percent
- Precision Oncology revenue was $155.4 million, an increase of 2 percent, or 8 percent on a core revenue basis
- COVID-19 testing revenue was $3.8 million, a decrease of 86 percent
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2023 outlook
The company anticipates revenue of $2.380-$2.420 billion vs $2.3B consensus during 2023, assuming:
- Screening revenue of $1.770-$1.795 billion,
- Precision Oncology revenue of $605-$620 million, and
- COVID-19 testing revenue of $5 million.
Revenue guidance has been raised from the previously expected range of $2.265-$2.315 billion, which assumed:
- Screening revenue of $1.660-$1.690 billion,
- Precision Oncology revenue of $600-$620 million, and
- COVID-19 testing revenue of $5 million.
For further details see:
Exact Sciences GAAP EPS of -$0.42 beats by $0.34, revenue of $602.45M beats by $59.27M