- Molecular diagnostics company Exact Sciences ( NASDAQ: EXAS ) expects total fourth quarter revenue growth (excluding COVID-19 testing) of 28% Y/Y, with screening revenue of $401.8M-$402.8M (+45%) and precision oncology revenue of $142.9M-$143.9M (-4%).
- Q4 revenue is estimated between $550.7M and $552.7M, well above consensus estimate of $512.16M. COVID-19 testing revenue of ~$5.9M indicates decrease of 87%.
- Full year 2022 revenue, excluding COVID-19 testing, is expected to grow 25% Y/Y, with screening revenue of $1.423B-$1.424B (+34%) and precision oncology revenue of $601M-$602M (+7%).
- Annual revenue is estimated between $2.082B and $2.084B vs. $2.03B consensus.
- In addition, adjusted EBITDA profitability is now expected for Q4/2022 and full year 2023, ahead of previous target of third quarter 2023.
- Exact Sciences ( EXAS ) plans to report 2022 financial results during its February 2023 earnings call.
- EXAS shares are up 1.19% premarket
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Exact Sciences guides Q4 revenue growth of 28% Y/Y