Exact Sciences(US:EXAS)2024-11-06 02:07Financial Performance - Total revenue reached a record of $709 million in Q3 2024 [6] - Core revenue grew by 13% in Q3 2024 [6, 7] - Screening revenue increased by 15% to $545 million in Q3 2024 [7] - Precision Oncology core revenue increased by 5% to $162 million in Q3 2024 [7] - Adjusted EBITDA was $99 million, representing a 14% margin rate in Q3 2024 [6] - Free cash flow reached a record $113 million in Q3 2024 [6] Updated 2024 Guidance - Total revenue guidance updated to $2.73 billion - $2.75 billion, a decrease of $90 million from prior guidance, representing a 10% year-over-year increase at midpoint [10] - Screening revenue guidance updated to $2.08 billion - $2.095 billion, a decrease of $78 million from prior guidance, representing a 12% year-over-year increase at midpoint [10] - Precision Oncology revenue guidance updated to $650 million - $655 million, a decrease of $13 million from prior guidance, representing a 4% year-over-year increase at midpoint [10] - Adjusted EBITDA guidance updated to $310 million - $320 million, a decrease of $30 million from prior guidance, representing a 44% year-over-year increase at midpoint [10] Product Development and Approvals - FDA approval was received for Cologuard Plus [6, 15] - Data from the blood-based CRC test was presented [6, 16] - Cologuard Plus demonstrates 95% cancer sensitivity and 94% specificity [15] - Blood-based CRC test shows 88% cancer sensitivity and 90% specificity [16]