- Exact Sciences ( NASDAQ: EXAS ) is up 7% in after-hours trading after boosting its 2022 revenue guidance and posting Q3 2022 beats on the bottom and top lines.
- The company now expects revenue of $2.025B-$2.042B, up from an earlier estimate of $1.980-$2.022 (consensus $2.01B).
- In the quarter, Exact ( EXAS ) saw its net loss narrow ~11% to $148.8M (-$0.84 per share, basic and diluted vs. -$0.97).
- Revenue of ~$523M was ~15% year-over-year increase.
- Screening revenue was $361M, while precision oncology revenue was $151 million. The company markets the Cologuard at-home colon cancer screening test and the Oncotype DX, Oncoguard Liver, and Riskguard tests for breast cancer, liver cancer, and hereditary cancers.
- Exact ( EXAS ) ended the quarter with cash and cash equivalents of $235.3M, a ~25% decrease from Dec. 31, 2021.
- Read why Seeking Alpha contributor Bashar Issa views Exact ( EXAS ) as a buy.
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Exact Sciences up 7% in after-hours trading on full-year revenue guidance boost, Q3 beats