On November 3, 2025 Exact Sciences Corp. (Nasdaq: EXAS), a leading provider of cancer screening and diagnostic tests, reported that the Company generated revenue of $851 million for the third quarter ended September 30, 2025, compared to $709 million for the same period of 2024.

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"Exact Sciences continues to advance our mission to prevent cancer and detect it earlier through a relentless focus on patients," said Kevin Conroy, chairman and CEO. "Our third quarter results reflect the power of our patient-centric platform and our trusted brands, Cologuard and Oncotype DX. The momentum we are building is fueling growth, advancing innovative new tests like Cancerguard, and strengthening our financial performance."

Third quarter 2025 financial results

For the three-month period ended September 30, 2025, as compared to the same period of 2024 (where applicable):

Total revenue was $851 million, an increase of 20% on a reported and core revenue basis
Screening revenue was $666 million, an increase of 22%
Precision Oncology revenue was $184 million, an increase of 13%
Gross margin was 69%, and adjusted gross margin was 71%
Net loss was $20 million, or $0.10 per share, an improvement of $19 million and $0.10 per share, respectively
Adjusted EBITDA was $135 million, an increase of $37 million or 37%, and adjusted EBITDA margin was 16%, an increase of 200 basis points
Operating cash flow was $220 million and free cash flow was $190 million, an increase of 59% and 69%, respectively,
Cash, cash equivalents, and marketable securities were $1.00 billion at the end of the quarter
Screening primarily includes laboratory service revenue from Cologuard tests and PreventionGenetics. Precision Oncology includes laboratory service revenue from global Oncotype DX and therapy selection tests.

Platform and pipeline advancements

In September 2025, Exact Sciences launched its Cancerguard multi-cancer early detection (MCED) test as a laboratory-developed test. Cancerguard is the first multi-cancer early detection test commercially available that analyzes multiple biomarker classes to help detect a wide range of cancers, including those that often go undiagnosed until later stages when treatment options are limited. The test is supported by data from robust test-development studies, such as DETECT-A and ASCEND 2, involving more than 20,000 participants, including the first-ever prospective interventional MCED trial. The Company brings the test to patients in the United States through its large commercial organization and unique ExactNexusTM technology platform.

To support patient access to Cancerguard, the Company recently announced an agreement with Quest Diagnostics to enable blood collection at the company’s approximately 7,000 patient access sites across the U.S., including through its patient service centers and in-office phlebotomists in provider offices, as well as mobile phlebotomy services for at-home collections.

2025 outlook

The Company has updated its full-year 2025 revenue and adjusted EBITDA guidance:

Prior guidance

November 3 update

Change at midpoint

Y/Y growth rate

Total revenue

$3.130 – $3.170 billion

$3.220 – $3.235 billion

$77.5 million

17%

Screening

$2.440 – $2.470 billion

$2.510 – $2.520 billion

$60.0 million

20%

Precision Oncology

$690 – $700 million

$710 – $715 million

$17.5 million

9%

Adjusted EBITDA

$455 – $475 million

$470 – $480 million

$10.0 million

47%

Third-quarter 2025 conference call & webcast

Company management will host a conference call and webcast on Monday, November 3, 2025, at 5 p.m. ET to discuss third-quarter 2025 results. The webcast will be available at exactsciences.com. Domestic callers should dial 888-330-2384 and international callers should dial +1-240-789-2701. The access code for both domestic and international callers is 4437608. A replay of the webcast will be available at exactsciences.com. The webcast, conference call, and replay are open to all interested parties.

(Press release, Exact Sciences, NOV 3, 2025, View Source [SID1234659254])