Exact Sciences(US:EXAS)2024-07-31 22:43Financial Performance - Exact Sciences achieved record total revenue of $699 million in Q2 2024, representing 12% growth compared to $622093 million in Q2 2023[6,32] - Core revenue growth was 13% in Q2 2024 [6] - Adjusted EBITDA reached a record $110 million, with a 16% margin rate in Q2 2024 [6] - Free cash flow was $71 million in Q2 2024 [6] - The company is maintaining full-year 2024 revenue guidance of $2810 - $2850 billion and raising full-year 2024 adjusted EBITDA guidance to $335 - $355 million[6,13] - Screening revenue for Q2 2024 was $531606 million, a 15% increase from $462787 million in Q2 2023[32] - Precision Oncology revenue for Q2 2024 was $167658 million, a 7% increase from $157174 million in Q2 2023[32] Key Growth Drivers and Strategic Initiatives - Over 1 million people were screened with Cologuard in Q2 2024 [6,16] - The company is focused on increasing Cologuard utilization among primary care clinicians [17] - Exact Sciences is partnering with health systems to address unscreened patients and helping payers improve screening rates [17] - The company is working to ensure people remain screened with Cologuard every 3 years and getting 19 million unscreened Americans ages 45-49 screened [17]