Reports record revenue, generates positive free
cash flow, expects 2024 revenue of $2.810-2.850 billion
Fourth quarter and 2023 highlights
- Total fourth quarter revenue of $647 million, an increase of
17%, or 18% on a core revenue basis, with Screening revenue of $487
million and Precision Oncology revenue of $160 million
- Total 2023 revenue of $2.50 billion, an increase of 20%, or 24%
on a core revenue basis, with Screening revenue of $1.865 billion
and Precision Oncology revenue of $629 million
- Fourth quarter cash provided by operating activities was $70
million and free cash flow was $35 million
Exact Sciences Corp. (Nasdaq: EXAS), a leading provider of
cancer screening and diagnostic tests, today announced that the
company generated revenue of $647 million for the fourth quarter of
2023 and $2.50 billion for the full year of 2023, both ended Dec.
31, 2023.
“The Exact Sciences team advanced our mission to help eradicate
cancer by testing a record number of patients with Cologuard® and
Oncotype DX® in the fourth quarter, leading to strong financial
results,” said Kevin Conroy, Chairman and CEO of Exact Sciences.
“Over the past decade, we have built a world-class team and
unrivaled platform that is fueling predictable, profitable growth
and powering the next wave of innovative cancer diagnostics to make
a profound difference in the fight against cancer.”
Fourth quarter 2023 financial results
For the three-month period ended Dec. 31, 2023, as compared to
the same period of 2022 (where applicable):
- Total revenue was $646.9 million, an increase of 17 percent, or
18 percent on a core revenue basis
- Screening revenue was $486.7 million, an increase of 21
percent
- Precision Oncology revenue was $160.2 million, an increase of
12 percent, or 11 percent on a core revenue basis
- Gross margin including amortization of acquired intangible
assets was 70 percent, and non-GAAP gross margin excluding
amortization of acquired intangible assets was 73 percent
- Net loss was $49.8 million, or $0.27 per share, compared to a
net loss of $127.7 million, or $0.72 per share
- EBITDA was $11.7 million and adjusted EBITDA was $49.7
million
- Cash provided by operating activities was $69.5 million and
free cash flow was $34.6 million
- Cash, cash equivalents, and marketable securities were $777.6
million 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.
2024 revenue outlook
The company anticipates revenue of $2.810-$2.850 billion during
2024, assuming:
- Screening revenue of $2.155-$2.175 billion, and
- Precision Oncology revenue of $655-$675 million
Non-GAAP disclosure
In addition to the company's financial results determined in
accordance with U.S. GAAP, the company provides non-GAAP measures
that it determines to be useful in evaluating its operating
performance and liquidity. The company presents EBITDA, adjusted
EBITDA, non-GAAP gross margin, non-GAAP gross profit, core revenue,
and free cash flow. EBITDA and adjusted EBITDA consist of net loss
after adjustment for those items shown in the table below. The
company defines non-GAAP gross profit and non-GAAP gross margin as
GAAP gross profit and GAAP gross margin, respectively, excluding
amortization of acquired intangible assets. The amortization of
acquisition-related intangible assets used in the calculation of
non-GAAP gross profit and non-GAAP gross margin pertain only to the
amortization associated with developed technology acquired and
recorded through purchase accounting transactions. The amortization
of these intangible assets will recur in future periods until such
intangible assets have been fully amortized. Core revenue is
calculated to adjust for recent acquisitions and divestitures,
COVID-19 testing revenue and foreign currency exchange rate
fluctuations. To exclude the impact of change in foreign currency
exchange rates from the prior period under comparison, the Company
converts the current period non-U.S. dollar denominated revenue
using the prior year comparative period exchange rates. The company
considers free cash flow to be a liquidity measure and is
calculated as net cash used in or provided by operating activities,
reduced by purchases of property, plant and equipment. Management
believes that presentation of non-GAAP financial measures provides
useful supplemental information to investors and facilitates the
analysis of the company's core operating results and comparison of
operating results across reporting periods. The company uses this
non-GAAP financial information to establish budgets, manage the
company's business, and set incentive and compensation
arrangements. The company believes free cash flow provides useful
information to management and investors since it measures our
ability to generate cash from business operations. Non-GAAP
financial information, when taken collectively, may be helpful to
investors because it provides consistency and comparability with
past financial performance. However, non-GAAP financial information
is presented for supplemental information purposes only, has
limitations as an analytical tool and should not be considered in
isolation or as a substitute for financial information presented in
accordance with U.S. GAAP. For example, non-GAAP gross margin and
non-GAAP gross profit exclude the amortization of acquired
intangible assets although such measures include the revenue
associated with the acquisitions. Additionally, adjusted EBITDA
excludes a number of expense items that are included in net loss.
As a result, positive adjusted EBITDA may be achieved while a
significant net loss persists. For a reconciliation of these
non-GAAP measures to GAAP, see below “EBITDA and Adjusted EBITDA
Reconciliations”, “Non-GAAP Gross Profit and Non-GAAP Gross Margin
Reconciliations”, “Reconciliation of Core Revenue”, and “Condensed
Consolidated Statements of Cash Flows and Reconciliation of Free
Cash Flow”. The company presents certain forward-looking statements
about the company's future financial performance that include
non-GAAP measures. These non-GAAP measures include adjustments like
stock-based compensation, acquisition and integration costs
including gains and losses on contingent consideration that are
difficult to predict for future periods because the nature of the
adjustments pertain to events that have not yet occurred.
Additionally, management does not forecast many of the excluded
items for internal use. Information reconciling forward-looking
non-GAAP measures to U.S. GAAP measures is therefore not available
without unreasonable effort and is not provided. The occurrence,
timing, and amount of any of the items excluded from GAAP to
calculate non-GAAP could significantly impact the company's GAAP
results.
Fourth quarter conference call & webcast
Company management will host a conference call and webcast on
Wednesday, February 21, 2024, at 5 p.m. ET to discuss fourth
quarter and full year 2023 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.
About Cologuard
The Cologuard test was approved by the FDA in August 2014, and
results from Exact Sciences’ prospective 90-site, point-in-time,
10,000-patient pivotal trial were published in the New England
Journal of Medicine in March 2014. The Cologuard test is included
in the American Cancer Society’s (2018) colorectal cancer screening
guidelines and the recommendations of the U.S. Preventive Services
Task Force (2021) and National Comprehensive Cancer Network (2016).
The Cologuard test is indicated to screen adults 45 years of age
and older who are at average risk for colorectal cancer by
detecting certain DNA markers and blood in the stool. Do not use
the Cologuard test if you have had precancer, have inflammatory
bowel disease and certain hereditary syndromes, or have a personal
or family history of colorectal cancer. The Cologuard test is not a
replacement for colonoscopy in high risk patients. The Cologuard
test performance in adults ages 45-49 is estimated based on a large
clinical study of patients 50 and older. The Cologuard test
performance in repeat testing has not been evaluated.
The Cologuard test result should be interpreted with caution. A
positive test result does not confirm the presence of cancer.
Patients with a positive test result should be referred for
colonoscopy. A negative test result does not confirm the absence of
cancer. Patients with a negative test result should discuss with
their doctor when they need to be tested again. Medicare and most
major insurers cover the Cologuard test. For more information about
the Cologuard test, visit cologuardtest.com. Rx only.
About Exact Sciences’ Precision Oncology portfolio
Exact Sciences’ Precision Oncology portfolio delivers actionable
genomic insights to inform prognosis and cancer treatment after a
diagnosis. In breast cancer, the Oncotype DX Breast Recurrence
Score® test is the only test shown to predict the likelihood of
chemotherapy benefit as well as recurrence in invasive breast
cancer. The Oncotype DX test is recognized as the standard of care
and is included in all major breast cancer treatment guidelines.
The OncoExTra™ test applies comprehensive tumor profiling,
utilizing whole exome and whole transcriptome sequencing, to aid in
therapy selection for patients with advanced, metastatic,
refractory, relapsed, or recurrent cancer. With an extensive panel
of approximately 20,000 genes and 169 introns, the OncoExTra test
is one of the most comprehensive genomic (DNA) and transcriptomic
(RNA) panels available today. Exact Sciences enables patients to
take a more active role in their cancer care and makes it easy for
providers to order tests, interpret results, and personalize
medicine by applying real-world evidence and guideline
recommendations. To learn more, visit
precisiononcology.exactsciences.com.
About PreventionGenetics
Founded in 2004 and located in Marshfield, Wisconsin,
PreventionGenetics is a CLIA and ISO 15189:2012 accredited
laboratory. PreventionGenetics delivers clinical genetic testing of
the highest quality at fair prices with exemplary service to people
around the world. PreventionGenetics has 25 PhD geneticists on
staff and provides tests for nearly all clinically relevant genes
including the powerful and comprehensive germline whole genome
sequencing test, PGnome® and whole exome sequencing test, PGxome®.
PreventionGenetics was acquired by Exact Sciences in December
2021.
About Exact Sciences Corp.
A leading provider of cancer screening and diagnostic tests,
Exact Sciences gives patients and health care professionals the
clarity needed to take life-changing action earlier. Building on
the success of the Cologuard and Oncotype DX tests, Exact Sciences
is investing in its pipeline to develop innovative solutions for
use before, during, and after a cancer diagnosis. For more
information, visit ExactSciences.com, follow Exact Sciences on X
(formerly known as Twitter) @ExactSciences, or find Exact Sciences
on LinkedIn and Facebook.
Forward-Looking Statements
This news release contains forward-looking statements concerning
our expectations, anticipations, intentions, beliefs or strategies
regarding the future. These forward-looking statements are based on
assumptions that we have made as of the date hereof and are subject
to known and unknown risks and uncertainties that could cause
actual results, conditions and events to differ materially from
those anticipated. Therefore, you should not place undue reliance
on forward-looking statements. Examples of forward-looking
statements include, among others, statements we make regarding
expected future operating results; expectations for development of
new or improved products and services and their impacts on
patients; our strategies, positioning, resources, capabilities and
expectations for future events or performance; and the anticipated
benefits of our acquisitions, including estimated synergies and
other financial impacts.
Important factors that could cause actual results, conditions
and events to differ materially from those indicated in the
forward-looking statements include, among others, the following:
our ability to successfully and profitably market our products and
services; the acceptance of our products and services by patients
and healthcare providers; our ability to meet demand for our
products and services; our reliance upon certain suppliers,
including suppliers that are the sole source of certain supplies
and products used in our test and operations; approval and
maintenance of adequate reimbursement rates for our products and
services within and outside the U.S.; the amount and nature of
competition for our products and services; the effects of any
judicial, executive or legislative action affecting us or the
healthcare system; recommendations, guidelines and quality metrics
issued by various organizations regarding cancer screening or our
products and services; our ability to successfully develop and
commercialize new products and services and assess potential market
opportunities; our ability to effectively enter into and utilize
strategic partnerships and acquisitions; our success establishing
and maintaining collaborative, licensing and supplier arrangements;
our ability to obtain and maintain regulatory approvals and comply
with applicable regulations; our ability to protect and enforce our
intellectual property; the results of our validation studies and
clinical trials, including the risks that the results of future
studies and trials may differ materially from the results of
previously completed studies and trials; our ability to manage an
international business and our expectations regarding our
international expansion and opportunities; our ability to raise the
capital necessary to support our operations or meet our payment
obligations under our indebtedness; the potential effects of
changing macroeconomic conditions, including the effects of
inflation, interest rate and foreign currency exchange rate
fluctuations, and geopolitical conflict; the possibility that the
anticipated benefits from our business acquisitions will not be
realized in full or at all or may take longer to realize than
expected; the possibility that costs or difficulties related to the
integration of acquired businesses’ operations or the divestiture
of business operations will be greater than expected and the
possibility that integration or divestiture efforts will disrupt
our business and strain management time and resources; the outcome
of any litigation, government investigations, enforcement actions
or other legal proceedings; and our ability to retain and hire key
personnel. The risks included above are not exhaustive. Other
important risks and uncertainties are described in the Risk Factors
sections of our most recent Annual Report on Form 10-K and any
subsequent Quarterly Reports on Form 10-Q, and in our other reports
filed with the Securities and Exchange Commission. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
Condensed Consolidated
Statements of Operations
(Amounts in thousands, except
per share data)
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Revenue
$
646,885
$
552,995
$
2,499,766
$
2,084,279
Operating expenses:
Cost of sales (exclusive of amortization
of acquired intangible assets)
171,865
147,152
654,248
574,394
Research and development
114,922
94,274
425,882
393,418
Sales and marketing
190,477
210,211
727,090
846,011
General and administrative
220,551
193,894
893,204
737,304
Amortization of acquired intangible
assets
23,311
22,914
92,160
97,450
Impairment of long-lived assets
—
3,432
621
15,969
Total operating expenses
721,126
671,877
2,793,205
2,664,546
Other operating income (loss)
6,400
—
78,427
(13,244
)
Loss from operations
(67,841
)
(118,882
)
(215,012
)
(593,511
)
Other income (expense)
Investment income (loss), net
25,330
(5,635
)
32,713
(19,425
)
Interest expense
(7,865
)
(5,410
)
(19,447
)
(19,634
)
Total other income (expense)
17,465
(11,045
)
13,266
(39,059
)
Net loss before tax
(50,376
)
(129,927
)
(201,746
)
(632,570
)
Income tax benefit (expense)
610
2,182
(2,403
)
9,064
Net loss
$
(49,766
)
$
(127,745
)
$
(204,149
)
$
(623,506
)
Net loss per share—basic and diluted
$
(0.27
)
$
(0.72
)
$
(1.13
)
$
(3.54
)
Weighted average common shares
outstanding—basic and diluted
181,114
177,584
180,144
176,351
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
Condensed Consolidated Balance
Sheets
(Amounts in thousands)
December 31, 2023
December 31, 2022
Assets
Cash and cash equivalents
$
605,378
$
242,493
Marketable securities
172,266
389,564
Accounts receivable, net
203,623
158,043
Inventory
127,475
118,259
Prepaid expenses and other current
assets
85,627
73,898
Property, plant and equipment, net
698,354
684,756
Operating lease right-of-use assets
143,708
167,003
Goodwill
2,367,120
2,346,040
Intangible assets, net
1,890,396
1,956,240
Other long-term assets, net
177,387
90,577
Total assets
$
6,471,334
$
6,226,873
Liabilities and stockholders'
equity
Current liabilities
$
514,701
$
412,747
Convertible notes, net
2,314,276
2,186,106
Long-term debt, less current portion
—
50,000
Other long-term liabilities
335,982
352,459
Operating lease liabilities, less current
portion
161,070
182,399
Total stockholders’ equity
3,145,305
3,043,162
Total liabilities and stockholders’
equity
$
6,471,334
$
6,226,873
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
Reconciliation of Core
Revenue
(Amounts in thousands)
GAAP
Three Months Ended December
31,
2023
2022
% Change
Screening
$
486,706
$
403,528
21
%
Precision Oncology
160,179
143,430
12
%
COVID-19 Testing
—
6,037
(100
)%
Total
$
646,885
$
552,995
17
%
Non-GAAP
Three Months Ended December
31,
2023 (1)
2022 (1)
% Change
Foreign Currency Impact
(2)
Core Revenue (3)
% Change (3)
Screening
$
486,706
$
403,528
21
%
$
—
$
486,706
21
%
Precision Oncology
157,223
140,714
12
%
(620
)
156,603
11
%
Total
$
643,929
$
544,242
18
%
$
(620
)
$
643,309
18
%
GAAP
Twelve Months Ended December
31,
2023
2022
% Change
Screening
$
1,864,701
$
1,424,703
31
%
Precision Oncology
629,110
601,488
5
%
COVID-19 Testing
5,955
58,088
(90
)%
Total
$
2,499,766
$
2,084,279
20
%
Non-GAAP
Twelve Months Ended December
31,
2023 (1)
2022 (1)
% Change
Foreign Currency Impact
(2)
Core Revenue (3)
% Change (3)
Screening
$
1,864,701
$
1,424,703
31
%
$
—
$
1,864,701
31
%
Precision Oncology
619,948
574,012
8
%
(1,228
)
618,720
8
%
Total
$
2,484,649
$
1,998,715
24
%
$
(1,228
)
$
2,483,421
24
%
__________________
(1) Excludes revenue from COVID-19
testing, the divested Oncotype DX Genomic Prostate test, and the
Resolution Bioscience acquisition.
(2) Foreign currency impact is calculating
the change in current period non-U.S. dollar denominated revenue
using the prior year comparative period exchange rates.
(3) Excludes revenue from COVID-19
testing, the divested Oncotype DX Genomic Prostate Score test, the
impact of foreign currency exchange rate fluctuations, and the
Resolution Bioscience acquisition.
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
Non-GAAP Gross Profit and
Non-GAAP Gross Margin Reconciliations
(Amounts in thousands)
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Revenue
$
646,885
$
552,995
$
2,499,766
$
2,084,279
Cost of sales (exclusive of amortization
of acquired intangible assets)
171,865
147,152
654,248
574,394
Amortization of acquired intangible assets
(1)
21,100
20,717
83,316
86,967
Gross profit
$
453,920
$
385,126
$
1,762,202
$
1,422,918
Gross margin
70
%
70
%
70
%
68
%
Amortization of acquired intangible assets
(1)
21,100
20,717
83,316
86,967
Non-GAAP gross profit
$
475,020
$
405,843
$
1,845,518
$
1,509,885
Non-GAAP gross margin
73
%
73
%
74
%
72
%
__________________
(1) Includes only amortization of
intangible assets identified as developed technology assets through
purchase accounting transactions, which otherwise would have been
allocated to cost of sales.
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
EBITDA and Adjusted EBITDA
Reconciliations
(Amounts in thousands)
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Net loss
$
(49,766
)
$
(127,745
)
$
(204,149
)
$
(623,506
)
Interest expense (1)
7,865
5,410
19,447
19,634
Depreciation and amortization
54,172
49,481
206,608
197,558
Income tax (benefit) expense
(610
)
(2,182
)
2,403
(9,064
)
EBITDA
$
11,661
$
(75,036
)
$
24,309
$
(415,378
)
Stock-based compensation (2)
66,466
50,789
271,218
239,092
Investment loss (income)
(25,330
)
5,635
(32,713
)
19,425
Acquisition and integration costs (3)
(3,616
)
1,175
(11,762
)
(53,297
)
Reduction-in-force severance (4)
—
18,886
907
33,499
Impairment of long-lived assets (5)
—
3,432
621
15,969
(Gain) loss on sale of asset and
divestiture related costs (6)
(4,311
)
53
(74,833
)
17,309
Legal settlement (7)
—
—
36,186
—
Restructuring (8)
4,837
—
4,837
—
Adjusted EBITDA
$
49,707
$
4,934
$
218,770
$
(143,381
)
__________________
(1) Interest expense for the twelve months
ended December 31, 2023 includes a $10.3 million net gain recorded
on the settlement of convertible notes. This gain represents the
difference between (i) the fair value of the consideration
transferred and (ii) the sum of the carrying value of the debt at
the time of the exchange.
(2) Represents stock-based compensation
expense and 401(k) match expense. The Company matches a portion of
Exact Sciences employees' contributions annually in the form of the
Company's common stock.
(3) Represents acquisition and related
integration costs incurred as a result of the Company's business
combinations. Acquisition costs represent legal and professional
fees incurred to execute the transaction. Acquisition costs for the
three and twelve months ended December 31, 2023 and 2022 relate to
the acquisitions of Resolution Bioscience, Inc. and
PreventionGenetics, LLC, and were not significant.
Integration-related costs represent expenses incurred outside
regular business operations, specifically relating to the
integration of businesses acquired through a business combination.
This includes any gain or loss on contingent consideration
liabilities, severance and accelerated vesting of stock awards, and
professional services. The remeasurement of the contingent
consideration liabilities resulted in a gain of $5.0 million and
$18.0 million for the three and twelve months ended December 31,
2023, respectively, and a loss of $0.8 million and a gain of $56.6
million for the three and twelve months ended December 31, 2022,
respectively. The Company also incurred severance costs and
professional service fees which were not significant for the three
and twelve months ended December 31, 2023 and 2022. The majority of
the professional service fees relate to the integration of
information technology systems.
(4) The Company took proactive measures to
address the impact of inflation and market volatility, and also
simplify the organizational structure and prioritize programs that
will have the greatest impact on improving cancer care. This
resulted in a reduction of the Company's workforce in the second
and fourth quarters of 2022, and international operations were
impacted in the first quarter of 2023. The adjustment to EBITDA
represents personnel expenses incurred as a result of these
proactive measures, a majority of which includes severance and
accelerated stock-based compensation expense.
(5) Represents impairment charges on the
Company’s long-lived assets. For the twelve months ended December
31, 2023, the Company recorded insignificant impairments to
building leases that were vacated during the year. For the three
and twelve months ended December 31, 2022, the Company recorded
insignificant impairments to building leases at certain of its
domestic locations. The Company also recorded impairment charges on
an acquired developed technology intangible asset and a supply
agreement intangible asset during the twelve months ended December
31, 2022.
(6) Relates to the sale of the
intellectual property and know-how related to the Oncotype DX
Genomic Prostate Score® ("GPS") test to MDxHealth SA ("MDxHealth")
in August 2022. For the three and twelve months ended December 31,
2022, this represents the loss on the sale of $13.2 million, $1.8
million in one-time termination benefits including severance and
accelerated vesting of stock awards, and $2.3 million in legal and
professional service fees incurred in the execution of the sale. In
August 2023, the Company and MDxHealth executed the Second
Amendment to the Asset Purchase Agreement related to the sale of
the GPS test, resulting in additional charges. For the three months
ended December 31, 2023, this represents a $4.4 million contingent
consideration gain and legal and professional fees of $0.1 million.
For the twelve months ended December 31, 2023, this represents a
gain of $3.1 million from additional cash and equity consideration
received, a $73.3 million contingent consideration gain, and $1.6
million in legal and professional service fees.
(7) The Company reached settlements with
the counterparties related to the Medicare Date of Service Rule
Investigation ("DOS Rule Matter") and the Federal Anti-Kickback
Statute and False Claims Act qui tam lawsuit during the third
quarter of 2023. The Company previously accrued $10 million in the
third quarter of 2021 related to the DOS Rule Matter, and made
incremental accruals in the first and second quarters of 2023 based
on the Company's best estimates of the probable loss on these
matters.
(8) Includes costs associated with the
consolidation of operations related to the closure of one of the
Company's domestic laboratory facilities. For the three and twelve
months ended December 31, 2023, this includes severance of $4.1
million and accelerated stock-based compensation expense of $0.7
million.
EXACT SCIENCES
CORPORATION
Selected Unaudited Financial
Information
Condensed Consolidated
Statements of Cash Flows and Reconciliation of Free Cash
Flow
(Amounts in thousands)
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Net cash provided by (used in) operating
activities
$
69,549
$
52,037
$
156,119
$
(223,559
)
Net cash provided by (used in) investing
activities
(66,767
)
(58,159
)
49,679
74,066
Net cash provided by financing
activities
10,037
10,103
159,766
76,485
Effects of exchange rate changes on cash
and cash equivalents
1,947
3,206
1,321
30
Net increase (decrease) in cash, cash
equivalents and restricted cash
14,766
7,187
366,885
(72,978
)
Cash, cash equivalents and restricted
cash, beginning of period
594,909
235,603
242,790
315,768
Cash, cash equivalents and restricted
cash, end of period
$
609,675
$
242,790
$
609,675
$
242,790
Reconciliation of free cash flow:
Net cash provided by (used in) operating
activities
$
69,549
$
52,037
$
156,119
$
(223,559
)
Purchases of property, plant and
equipment
(34,922
)
(72,876
)
(124,190
)
(214,462
)
Free cash flow
$
34,627
$
(20,839
)
$
31,929
$
(438,021
)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240221510454/en/
Investor Contact: Nathan Harrill Exact Sciences Corp.
investorrelations@exactsciences.com 608-535-8659 Media
Contact: Morry Smulevitz Exact Sciences Corp.
msmulevitz@exactsciences.com 608-345-8010
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