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EXAS

Exact Sciences Corporation

EXAS

Exact Sciences Corporation • NASDAQ
$101.29 ▼ -0.16% (-0.16)
Market Cap $19.19 B
52w High $101.87
52w Low $38.81
Dividend Yield 0%
P/E -18.93
Volume 2.32M
Outstanding Shares 189.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $850.739M ▲ $609.474M ▲ $-19.594M ▼ -2.303% ▼ $-0.1 ▼ $38.125M ▼
Q2-2025 $811.085M ▲ $564.601M ▼ $-1.185M ▲ -0.146% ▲ $-0.006 ▲ $53.135M ▲
Q1-2025 $706.785M ▼ $596.557M ▼ $-101.215M ▲ -14.32% ▲ $-0.54 ▲ $-38.111M ▲
Q4-2024 $713.424M ▲ $1.306B ▲ $-864.585M ▼ -121.188% ▼ $-4.67 ▼ $-814.573M ▼
Q3-2024 $708.655M $551.958M $-38.236M -5.396% $-0.21 $25.616M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.003B ▲ $5.9B ▲ $3.399B ▲ $2.501B ▲
Q2-2025 $858.435M ▲ $5.797B ▲ $3.328B ▲ $2.469B ▲
Q1-2025 $786.175M ▼ $5.711B ▼ $3.314B ▼ $2.397B ▼
Q4-2024 $1.038B ▲ $5.928B ▼ $3.526B ▼ $2.402B ▼
Q3-2024 $1.021B $6.749B $3.538B $3.211B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-19.594M ▼ $219.923M ▲ $-86.454M ▼ $-1.532M ▲ $131.938M ▼ $190.026M ▲
Q2-2025 $-1.185M ▲ $89.017M ▲ $224.895M ▲ $-4.514M ▲ $309.972M ▲ $46.675M ▲
Q1-2025 $-101.215M ▲ $30.809M ▼ $-34.437M ▲ $-256.171M ▼ $-259.509M ▼ $-365K ▼
Q4-2024 $-864.585M ▼ $47.063M ▼ $-41.872M ▲ $10.499M ▲ $11.969M ▼ $10.747M ▼
Q3-2024 $-38.236M $138.719M $-81.716M $-226K $58.65M $112.561M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Precision Oncology
Precision Oncology
 $160.00M ▲$160.00M ▲$180.00M ▲$180.00M ▲
Screening
Screening
 $540.00M ▲$550.00M ▲$630.00M ▲$670.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, showing that demand for Exact Sciences’ tests continues to increase. Gross profit has risen along with it, which suggests the core products are economically attractive. However, the company is still not profitable. Operating results and net income remain negative, and 2024 showed a step back after a near break-even year in 2023. This likely reflects high spending on sales, marketing, and research to support growth and new products. In short, the business is scaling nicely on the top line, but the bottom line is still in the investment phase rather than in a steady profit phase.

Balance Sheet

Balance Sheet The balance sheet shows a sizable asset base built up over years of investment, including acquisitions and internal development. Debt is meaningful and has crept higher, which introduces some financial risk and dependence on continued access to capital markets or strong cash generation. Cash on hand is modest relative to the total size of the company, but not alarmingly low given that operations are now cash-generative. Equity has been diluted by ongoing losses, yet remains clearly positive, meaning the company still has a solid capital cushion. Overall, it is a balance sheet that can support growth, but not one that leaves unlimited room for prolonged heavy losses.

Cash Flow

Cash Flow The cash flow picture is noticeably better than the accounting earnings. Operating cash flow has turned positive and has been improving, suggesting that the underlying business is beginning to fund itself through customer payments rather than external financing. Free cash flow has also moved into positive territory after earlier years of cash burn, even as the company continues to invest in equipment and infrastructure. This shift from cash-consuming to cash-generating is a key milestone for any high-growth healthcare company, although sustainability still depends on maintaining growth and managing costs carefully.

Competitive Edge

Competitive Edge Exact Sciences holds a strong position in cancer diagnostics, anchored by well-known brands such as Cologuard and the Oncotype DX portfolio. Its advantages include deep clinical validation, broad insurance coverage, strong relationships with physicians, and a significant patent estate that helps shield its technology. The company has built a large commercial and support infrastructure that would be difficult and time-consuming for new entrants to replicate. According to the provided information, the planned acquisition by Abbott would plug these capabilities into a much larger global platform, potentially reinforcing the competitive moat. At the same time, the company operates in a fiercely innovative field, where rivals are also pushing non-invasive and liquid biopsy solutions, so maintaining this edge will require constant execution.

Innovation and R&D

Innovation and R&D Innovation is the core of Exact Sciences’ strategy. It has evolved from a single-product company into a broad platform in cancer screening, treatment decision support, and disease monitoring. Upgrades like Cologuard Plus show the company can meaningfully improve existing products, not just launch new ones. The pipeline extends into multi-cancer blood tests and molecular residual disease monitoring, both of which could open large new markets if clinical performance, reimbursement, and physician adoption line up as hoped. This innovation engine helps justify the company’s high research and commercial spending, but it also brings execution risk: regulatory approvals, real-world performance, and competitive responses will all matter greatly.

Summary

Exact Sciences is a growth-focused cancer diagnostics company with strong market traction and a powerful innovation story, but it is still transitioning toward consistent profitability. Revenues and gross profits have climbed steadily, and cash flows have turned positive, signaling improving underlying economics. Yet accounting losses remain sizeable, and the balance sheet carries meaningful debt, so financial discipline and continued growth are important. Competitively, the company benefits from well-known brands, deep clinical backing, and extensive patents and partnerships, with the proposed Abbott acquisition—if completed—poised to strengthen its position further. The long-term potential is closely tied to successful commercialization of its pipeline in multi-cancer detection and disease monitoring, alongside continued refinement of its existing tests, in a market that is both attractive and highly competitive.

NEWS

November 24, 2025 · 4:35 PM UTC

Exact Sciences Reinforces International Leadership in Breast Cancer with Strong Presence at 2025 San Antonio Breast Cancer Symposium

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November 24, 2025 · 9:30 AM UTC

EXAS Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Exact Sciences to Abbott Laboratories

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November 21, 2025 · 8:30 PM UTC

Exact Sciences Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Exact Sciences Corporation - EXAS

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November 20, 2025 · 5:30 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Exact Sciences Corporation (NASDAQ: EXAS)

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November 20, 2025 · 3:13 PM UTC

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Exact Sciences Corporation (Nasdaq – EXAS)

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