EXACT SCIENCES CORP

Listed Company

EXASCIK 0001124140NasdaqLarge AcceleratedServices-Medical LaboratoriesFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-207.95M

Total Assets

$5.86B

Equity

$2.40B

Shares Out

190.89M

Op. Cash Flow

$491.44M

Business

Exact Sciences Corporation develops, manufactures, and commercializes cancer screening, molecular diagnostic, and precision oncology tests to provide earlier and actionable clinical insights. Its main products and services include non-invasive stool- and blood-based screening tests (Cologuard, Cologuard Plus, Cancerguard), laboratory-developed MRD and liquid biopsy tests (Oncodetect, Oncoliquid), genomic and hereditary testing (Oncotype DX, OncoExTra, Riskguard), and related laboratory services. The company organizes operations across screening, precision oncology, and international commercial functions. It primarily serves the U.S. market while marketing Oncotype tests in roughly 120 countries through health systems, payers, provider networks, distributors, and direct-to-consumer channels.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−208	−1,029	−204	−624	−596
Net loss before tax	−204	−1,036	−202	−633	−843
Loss from operations	−206	−1,049	−215	−594	−856
Gross profit	2,263	1,919	1,762	1,423	—
Revenue	3,247	2,759	2,500	2,084	1,767
Cost of sales	984	840	738	661	459
Total operating expenses	2,469	2,977	2,056	2,003	—
Research and development	523	431	427	394	386
Sales and marketing	1,050	894	828	930	862
General and administrative	889	782	800	663	801
Impairment of long-lived and indefinite-lived assets	7	869	621,000	16	—
Other operating income	0	9	78	−13	0
Total other income (expense)	2	13	13	−39	13
Investment income, net	42	40	33	−19	32
Interest Expense, Nonoperating	−39	−27	−19	−20	—
Income Tax Expense (Benefit)	−4	7	−2	9	247
Increase (decrease) in net loss per share (in usd per share)	−1.1	−5.59	−1.13	−3.54	−3.48
Increase (decrease) in net loss per share (in usd per share)	−1.1	−5.59	−1.13	−3.54	−3.48
Weighted average number of shares outstanding, basic (in shares)	189	184	180	176	171
Weighted average number of shares outstanding, diluted (in shares)	189	184	180	176	171

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-05-31
Cash and cash equivalents	956	601	605	242	—
Marketable securities	9	437	172	390	—
Accounts receivable, net	299	249	204	158	—
Inventory	166	162	127	118	—
Prepaid expenses and other current assets	126	122	86	74	—
Total current assets	1,556	1,571	1,194	982	—
Property, plant and equipment, net	709	694	698	685	—
Operating lease right-of-use assets	122	117	144	167	8
Goodwill	2,368	2,367	2,367	2,346	—
Intangible assets, net	920	1,010	1,890	1,956	—
Other long-term assets, net	186	170	177	91	—
Total assets	5,861	5,928	6,471	6,227	—
Accounts payable	176	90	79	75	—
Accrued liabilities	416	328	342	299	—
Operating lease liabilities, current portion	34	27	29	28	—
Other current liabilities	15	38	15	10	—
Convertible Notes Payable, Current	0	249	0	—	—
Total current liabilities	641	732	515	413	—
Convertible notes, net, less current portion	2,327	2,321	2,314	2,186	—
Other long-term liabilities	329	316	336	352	—
Operating lease liabilities, less current portion	162	157	161	182	—
Total liabilities	3,460	3,526	3,326	3,184	—
3459577000	—	—	—	—	—
Preferred stock, $0.01 par value Authorized5,000,000 shares issued and outstandingno shares at December 31, 2025 and December 31, 2024	0	0	0	0	—
Common stock, $0.01 par value Authorized400,000,000 shares issued and outstanding190,802,322 and 185,616,438 shares at December 31, 2025 and December 31, 2024	2	2	2	2	—
Additional paid-in capital	7,103	6,899	6,611	6,312	—
Accumulated other comprehensive income (loss)	2	−944,000	1	−5	—
Accumulated deficit	−4,706	−4,498	−3,469	−3,265	—
Total stockholders equity	2,401	2,402	3,145	3,043	—
Total liabilities and stockholders equity	5,861	5,928	6,471	6,227	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−208	−1,029	−204	−624	−596
Depreciation	125	120	114	100	—
Equity Securities, FV-NI, Gain (Loss)	3	−3	4	−22	29
Deferred tax benefit	−2	−10	−955,000	−12	—
Share-Based Payment Arrangement, Noncash Expense	218	215	231	207	253
Gain on settlements of convertible notes, net	0	−10	−10	0	0
Amortization of Intangible Assets	97	95	92	97	—
Impairment of long-lived and indefinite-lived assets	7	869	621,000	16	—
Research and Development Asset Acquired in Transaction Other than Business Combination or Joint Venture Formation, Writeoff	75	0	500,000	—	—
Gain (Loss) On Contingent Consideration From Disposition Of Asset	0	−9	−73	0	0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	27	−3	−18	−57	6
Non-cash lease expense	27	27	28	29	26
Other Noncash Income (Expense)	7	−519,000	399,000	11	—
Accounts receivable, net	−49	−46	−43	61	25
Inventory, net	−4	−35	−8	−13	−9
Operating lease liabilities	−29	−26	−27	−21	−17
Accounts payable and accrued liabilities	214	44	83	−52	170
Increase (Decrease) in Other Operating Assets	−6	−2	−12	−84,000	−25
Increase (Decrease) in Other Operating Liabilities	−5	10	6	−1	−33
Net cash provided by operating activities	491	211	156	−224	−102
Purchases of marketable securities	−140	−465	−140	−131	−1,164
Maturities and sales of marketable securities	572	206	363	453	794
Purchases of property, plant and equipment	−135	−136	−124	−214	−136
Proceeds From Contingent Consideration Receivable	28	0	0	—	—
Proceeds From Sale Of Investments In Privately-Held Companies	0	0	20	0	0
Payments to Acquire Other Investments	−55	−2	−17	−43	−18
Business combination, net of cash acquired and issuance costs	0	0	−52	−15	−500
Asset acquisitions, net of cash acquired	−75	−45	−500,000	0	−58
Other investing activities	297,000	−225,000	250,000	−549,000	−744,000
Net cash provided by (used in) investing activities	195	−442	50	74	−1,082
Proceeds, Issuance of Shares, Share-Based Payment Arrangement, Including Option Exercised	2	2	3	7	14
Proceeds in connection with the Company's employee stock purchase plan	27	31	28	25	23
Proceeds from issuance of convertible notes	0	267	138	0	0
Repayments of Accounts Receivable Securitization	0	50	0	0	—
Repayments of convertible debt	249	0	0	—	—
Payment, Tax Withholding, Share-Based Payment Arrangement	86	0	0	—	—
Payment for Contingent Consideration Liability, Financing Activities	19	0	0	—	—
Other financing activities	−12	−18	−10	−6	−5
Net cash provided by (used in) financing activities	−338	232	160	76	8
Effects of exchange rate changes on cash and cash equivalents	891,000	−3	1	30,000	23,000
Net increase (decrease) in cash, cash equivalents, and restricted cash	349	−3	367	−73	−1,176
Property, plant and equipment acquired but not paid	16	14	19	16	33
Interest paid	30	28	19	12	11

Filings

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