Record Revenue Growth
Exact Sciences reported a 20% year-over-year increase in total revenue, reaching $851 million, marking the highest quarterly growth rate in over two years.
Cologuard Plus Success
The launch of Cologuard Plus demonstrated 95% sensitivity and 94% specificity, with positive coverage decisions from the top 10 payers, contributing significantly to the revenue growth.
Strong Financial Performance
Adjusted EBITDA grew by 37% year-over-year to $135 million, with margins expanding by 200 basis points to 16%. Free cash flow increased by $77 million to $190 million for the quarter.
Cancerguard Launch
The company launched Cancerguard, a multi-cancer early detection test, aiming to address the low percentage of cancers found through screening.
Precision Oncology Growth
Precision Oncology revenue increased by 12% year-over-year on a core basis to $183 million, driven by Oncotype DX expansion and partner revenues.