Here’s what you should know:
1. Exact improved its revenues 78 percent year over year.
2. Approximately 215,000 Cologuard tests were completed in the quarter, which was a 59 percent increase year over year.
3. Average revenue per test was $479 per test, a 12 percent increase.
5. Net losses were $36.4 million, or $0.30 per share, up year over year from $30.8 million, or $0.27 per share.
6. More than 10,000 healthcare providers ordered their first Cologuard test last quarter. About 121,000 have ordered a Cologuard test since its inception.
7. Exact kept its projections the same. The company expects revenues to reach $420 million to $430 million for 2018.
Exact Sciences Chairman and CEO Kevin Conroy said, “We are excited about the continued growth of our physician ordering base, as well as their increasing Cologuard utilization, which led to a record quarter for revenue, volume and gross profit. We are optimistic about the company’s future, including the opportunity to expand Cologuard’s label to reach even more people in the 45 to 49 age group, given the American Cancer Society’s recent guideline update.”
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