Financial Performance - Total revenue grew by 20% year-over-year while operating expenses as a percentage of revenue decreased [193]. - Cash provided by operating activities reached $339.7 million for the nine months ended September 30, 2025, an improvement of $176.3 million compared to the same period in 2024 [193]. - The company reported an accumulated deficit of approximately $4.62 billion as of September 30, 2025, indicating ongoing financial challenges despite improving operating results [210]. - Interest expense from outstanding convertible notes was $8.2 million for Q3 2025, down from $8.9 million in Q3 2024, and totaled $24.7 million for the nine months ended September 30, 2025, compared to $23.6 million in the same period of 2024 [224]. - As of September 30, 2025, the company had approximately $789.0 million in unrestricted cash and cash equivalents and $214.1 million in marketable securities [229]. - Net cash provided by operating activities increased to $339.7 million for the nine months ended September 30, 2025, compared to $163.5 million in 2024 [231]. - Cash used in financing activities was $262.2 million for the nine months ended September 30, 2025, primarily due to payments on convertible notes and contingent consideration liabilities [234]. - The company entered into a senior secured revolving credit agreement in January 2025, providing access to $500.0 million, which expires in January 2028 [227]. - The company maintains significant cash and marketable securities at financial institutions that exceed federally insured limits, posing potential risks [244]. Product Development and Testing - The Cologuard Plus test, launched in March 2025, shows 95% overall cancer sensitivity and 43% sensitivity for advanced precancerous lesions at 94% specificity [196]. - The Oncodetect test achieved 78% sensitivity at the post-surgical timepoint and 91% sensitivity during the surveillance monitoring period, with specificities of 80% and 94%, respectively [196]. - Cancerguard test demonstrated 68% sensitivity across six of the deadliest cancers and 64% overall sensitivity, with high specificity of 97.4% [196]. - Exact Sciences plans to validate the Oncodetect test in breast cancer and other solid tumor types, leveraging exclusive rights to MAESTRO technology for enhancements [203]. - The company aims to increase adoption of current tests and launch new diagnostics, including Cologuard Plus, Oncodetect, and Cancerguard [202]. - The company announced a multi-year productivity plan aimed at achieving over $150 million in expected annual savings by 2026 through operational efficiencies and automation [205]. - Research and development expenses for the three months ended September 30, 2025, were $117,290,000, representing 13.8% of revenue, reflecting increased investment in pipeline tests [218]. Revenue Growth and Market Expansion - Screening revenue for the three months ended September 30, 2025, increased by 22.3% to $666,240,000, driven by higher volumes of Cologuard tests [212]. - Precision Oncology revenue for the same period rose by 12.7% to $184,499,000, attributed to increased Oncotype DX test completions, particularly in Japan [212][213]. - The company expects continued revenue growth from Cologuard and Oncotype tests, influenced by seasonal variability and new product launches [215]. - Exact Sciences is expanding its international presence, providing Oncotype tests in approximately 120 countries outside the U.S. [194]. - The company aims to increase international adoption of Oncotype DX tests, estimating it could help over 100 women per day in Japan understand their cancer recurrence risk [208]. Operational Challenges and Costs - General and administrative expenses increased to $241,413,000 for the three months ended September 30, 2025, primarily due to restructuring costs [221]. - The gross margin for the three months ended September 30, 2025, was 68.6%, slightly down from 69.4% in the prior year, due to increased production costs [217]. - The company expects operating expenditures to continue increasing to support growth in laboratory testing services and R&D costs for pipeline products [226]. Strategic Partnerships and Agreements - Exact Sciences has entered into an agreement with Quest Diagnostics to enable blood collection for the Cancerguard test at approximately 7,000 patient access sites across the U.S. [196]. - The company entered into a Collaboration and License Agreement with Freenome in August 2025, involving an initial payment of $75.0 million [238].

Financial Performance - Total revenue in 3Q25 reached $851 million, a 20% year-over-year increase[5] - Adjusted EBITDA in 3Q25 was $135 million, up 37% year-over-year[5] - Core revenue grew by 20% in 3Q25[7] - Screening revenue increased by 22% from $545 million in 3Q24 to $666 million in 3Q25[8] - Precision Oncology core revenue increased by 12% from $163 million in 3Q24 to $183 million in 3Q25[8] - Adjusted EBITDA margin improved to 16% in 3Q25, a 200 basis points increase from 14% in 3Q24[11] Guidance Update - Total revenue guidance for 2025 was updated to $3220-$3235 billion, an increase of $78 million at the midpoint[13] - Screening revenue guidance for 2025 was updated to $2510-$2520 billion, an increase of $60 million at the midpoint[13] - Precision Oncology revenue guidance for 2025 was updated to $710-$715 million, an increase of $18 million at the midpoint[13] - Adjusted EBITDA guidance for 2025 was updated to $470-$480 million, an increase of $10 million at the midpoint[13]

Steph Spanos Exact Sciences Corp. sspanos@exactsciences.com 608-556-4380 For Immediate Release Exact Sciences Announces Third Quarter 2025 Results Reports record revenue, raises full-year guidance, generates record cash from operations EXHIBIT 99.1 Investor Contact: Derek Leckow Exact Sciences Corp. investorrelations@exactsciences.com 608-893-0009 Media Contact: Third quarter and recent highlights MADISON, Wis., November 3, 2025 — Exact Sciences Corp. (Nasdaq: EXAS), a leading provider of cancer screening a ...

Core Viewpoint - Exact Sciences is experiencing an improving outlook with innovative products leading to a stock rebound, having increased by 41% over the past six months [1] Group 1: Company Performance - Exact Sciences is known for Cologuard, a stool-based test for early colorectal cancer detection, which has been used in over 20 million screenings since its launch in 2014 [2][3] - The company reported a 16% year-over-year revenue increase in Q2, reaching $811 million, with $628 million from screening revenue and $183 million from precision oncology [4] - Despite not being profitable, the company is showing improvement, with a net loss per share of $0.01 in Q2, better than the $0.09 loss per share in Q2 2024 [5] Group 2: Growth Opportunities - Exact Sciences launched Cologuard Plus in March, which is more accurate than its predecessor, and acquired rights to a blood-based CRC test from Freenome for $75 million [6] - There are over 55 million eligible patients in the U.S. aged 45 to 85 who have not been screened for CRC, indicating significant market potential [7] - The company also launched Oncodetect in April for testing recurrence across multiple cancers, and Cancerguard, a blood-based multicancer screening test, in September [8] Group 3: Market Potential - Exact Sciences estimates a total addressable market of nearly $60 billion across its services, with trailing-12-month revenue of $2.94 billion indicating room for growth [10] - The company has been growing revenue while reducing marketing costs as a percentage of sales, suggesting a strengthening reputation in the healthcare sector [11] - Cologuard Plus is 5% cheaper to manufacture, which could further enhance profitability [13]

Core Viewpoint - Exact Sciences (EXAS) is expected to report a year-over-year increase in earnings and revenues for the quarter ended September 2025, with a consensus outlook indicating a significant earnings surprise potential [1][3][12]. Earnings Expectations - The consensus EPS estimate for Exact Sciences is $0.10 per share, reflecting a year-over-year increase of +147.6% [3]. - Revenues are projected to be $809.93 million, which is a 14.3% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 9.76% higher in the last 30 days, indicating a positive reassessment by analysts [4]. - The Most Accurate Estimate for Exact Sciences is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +56.25% [12]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a strong likelihood of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy) [10][12]. - Exact Sciences currently holds a Zacks Rank of 1, reinforcing the expectation of surpassing the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Exact Sciences exceeded the expected loss of $0.02 per share by reporting earnings of $0.22, resulting in a surprise of +1,200.00% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [14]. Industry Context - Apellis Pharmaceuticals (APLS), another player in the Zacks Medical - Biomedical and Genetics industry, is expected to report earnings of $0.83 per share, indicating a year-over-year change of +280.4% [18]. - Apellis Pharmaceuticals has an Earnings ESP of +33.59% and a Zacks Rank of 3 (Hold), suggesting a likelihood of beating the consensus EPS estimate [19][20].

Group 1 - Exact Sciences (EXAS) is currently performing well in the Medical sector, with a year-to-date return of approximately 12%, significantly outperforming the sector average of 2% [4] - The Zacks Rank for Exact Sciences is 1 (Strong Buy), indicating a strong potential for outperformance in the market over the next one to three months [3] - The Zacks Consensus Estimate for EXAS' full-year earnings has increased by 134.4% in the past quarter, reflecting improved analyst sentiment and a stronger earnings outlook [4] Group 2 - Exact Sciences is part of the Medical - Biomedical and Genetics industry, which consists of 470 companies and currently ranks 87 in the Zacks Industry Rank [6] - The average return for the Medical - Biomedical and Genetics industry so far this year is 9.3%, indicating that Exact Sciences is outperforming its industry peers [6] - Another notable stock in the Medical sector is EssilorLuxottica Unsponsored ADR (ESLOY), which has returned 50.3% year-to-date and also holds a Zacks Rank of 1 (Strong Buy) [5][7]

Core Viewpoint - The Ark Innovation ETF has significantly rebounded, tripling in value over the last three years, with fund manager Cathie Wood expressing confidence that the gains are sustainable despite past volatility [1][3]. Performance Summary - The Ark Innovation ETF (ARKK) has increased by 87.1% over the past year, outperforming all other ETFs and mutual funds tracked by the American Association of Individual Investors, except for single-stock funds [2]. - The fund's performance has been driven primarily by AI-related stocks, including Palantir Technologies, Advanced Micro Devices (AMD), and Tesla, which Wood describes as the "largest AI project on earth" [2][4]. Historical Context - Following a remarkable 157% return in 2020, the fund experienced a 14% loss in 2021 and a 67% crash in 2022, leaving it 42% below its February 2021 peak despite recent gains [3]. - The fund currently manages $8.3 billion in assets, down from $17 billion at the end of 2020, indicating a significant investor exodus during its downturn [3]. Investment Strategy - Wood emphasizes that companies investing in AI are among the most profitable globally, and she believes that the performance of AI stocks will continue to rise rather than level off [4]. - Ark's portfolio includes a larger stake in AMD compared to Nvidia, with AMD's value doubling this year while Nvidia's increased by 36% [4]. - Palantir has seen a 337% increase since last November, with its sales growing 39% year over year to $3.4 billion, although it is viewed skeptically by value-oriented investors due to its high market cap relative to sales [5][6]. Tesla's Role - Tesla remains a significant holding for Ark, with a price target raised to $2,600 per share by 2029, suggesting a market value of around $9 trillion, while its current share price is $443 [6]. - Wood predicts that by 2029, 86% of Tesla's earnings will come from its robotaxi business, which was recently launched in Austin, Texas [6]. Market Environment - Wood acknowledges that the investment landscape has changed, with current policies being more favorable for her strategy compared to the challenges faced in 2022, such as supply chain issues and rising interest rates [10]. - The administration's deregulation efforts and lower corporate tax burdens are seen as beneficial for innovation and investment in AI [11]. Long-term Outlook - Despite the challenges faced, Wood remains optimistic about the long-term performance of the Ark Innovation ETF, drawing parallels to the Nasdaq's recovery after the dotcom bust [12].

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores serve as complementary indicators to the Zacks Rank, aiding investors in selecting stocks with high potential for market outperformance [2] Zacks Style Scores Overview - Stocks are rated A, B, C, D, or F based on value, growth, and momentum characteristics, with higher scores indicating better chances of outperforming the market [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Concentrates on a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - Targets stocks experiencing upward or downward trends, utilizing metrics like one-week price change and monthly earnings estimate changes [5] VGM Score - Combines the three Style Scores to identify stocks with attractive value, strong growth forecasts, and promising momentum [6] Zacks Rank Integration - The Zacks Rank uses earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.81% since 1988 [7] - There are over 800 stocks rated 1 or 2, making it essential to use Style Scores for effective stock selection [8] Stock Selection Strategy - To maximize returns, investors should target stocks with Zacks Rank 1 or 2 and Style Scores of A or B [9] - Stocks with lower ranks but high Style Scores may still carry risks due to downward earnings outlooks [10] Company Spotlight: Exact Sciences (EXAS) - Exact Sciences is focused on early cancer detection and prevention, with R&D in colorectal cancer screening, molecular residual disease testing, and multi-cancer screening [11] - EXAS holds a 1 (Strong Buy) Zacks Rank and a VGM Score of B, indicating strong investment potential [11] - The company has a Momentum Style Score of B, with shares increasing by 8.3% in the past four weeks and a positive earnings surprise average of +329.9% [12]

Group 1: Company Overview - Exact Sciences (EXAS) is a notable stock within the Medical sector, which consists of 960 companies and currently ranks 6 in the Zacks Sector Rank [2] - The company has a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperforming the market in the near term [3] Group 2: Performance Metrics - Over the past 90 days, the Zacks Consensus Estimate for EXAS' full-year earnings has increased by 125%, reflecting improved analyst sentiment and earnings outlook [4] - Year-to-date, EXAS has returned approximately 2.6%, outperforming the Medical sector average return of 1.5% [4] Group 3: Industry Context - Exact Sciences is part of the Medical - Biomedical and Genetics industry, which includes 472 stocks and currently ranks 89 in the Zacks Industry Rank [6] - The average return for the Medical - Biomedical and Genetics industry so far this year is 8.1%, indicating that EXAS is slightly underperforming its industry [6] Group 4: Comparison with Peers - Another stock in the Medical sector, Adicet Bio, Inc. (ACET), has a year-to-date return of 4% and a Zacks Rank of 2 (Buy) [5] - The consensus estimate for Adicet Bio's current year EPS has increased by 2.4% over the past three months, showcasing its positive outlook [5]

Core Viewpoint - Exact Sciences (EXAS) is showing potential for investment due to its recent technical movements and positive earnings revisions [1][4]. Technical Analysis - EXAS has recently crossed above the 20-day moving average, indicating a short-term bullish trend [1]. - The stock has moved 14% higher over the last four weeks, suggesting momentum for further gains [4]. Earnings Estimates - There have been 4 upward revisions for the current fiscal year's earnings estimates, with no downward revisions, indicating positive sentiment among analysts [4]. - The consensus estimate for earnings has also increased, reinforcing the bullish outlook for EXAS [5]. Investment Consideration - Given the positive technical indicators and favorable earnings estimate revisions, EXAS may present a compelling opportunity for investors looking for potential gains in the near future [5].