Exact Sciences reports 168% increase in full-year revenues — 8 insights

Exact Sciences announced its fourth quarter fiscal year 2017 earnings, seeing a 148 percent increase in year over year revenues.

Here's what you should know:

1. The company reported $87.4 million in revenues, up from $35.2 million in 2016. Analysts estimated revenues of $85.7 million for the quarter.

2. Approximately 176,000 Cologuard tests were completed in the quarter, which was a 115 percent increase year-over-year.

3. Approximately 11,000 providers ordered a Cologuard test for the first time in the quarter. Since inceptions, physicians have ordered 102,000 tests.

4. Average revenue per test rose 15 percent in the quarter to $498.

5. Net losses decreased to $21.8 million or $0.18 per share in the quarter, down from $37.2 million or $0.34 per share in 2016.

6. Company CEO Kevin Conroy said, "This was a transformative year for Exact Sciences and our efforts to significantly accelerate awareness and adoption of Cologuard. By focusing on our core priorities, we remain confident in our ability to efficiently broaden the awareness of Cologuard, increase the adoption, and invest to meet demand throughout 2018."

7. For 2017, Exact Sciences increased revenues 168 percent to $266 million, up from $99.4 million in 2016. The company completed 571,000 Cologuard tests and posted losses of $114.4 million or $0.99 per share.

8. Exact Sciences expects revenues around $420 million to $430 million for 2018, with approximately 900,000 to 920,000 completed Cologuard tests.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Learning Opportunities

Featured Webinars

Featured Whitepapers

Featured Podcast