Exact Sciences surpasses investor predictions — Cologuard revenue hits $90.3M

Exact Sciences announced its first quarter fiscal year 2018 earnings, posting revenues of $90.3 million.

Here's what you should know:

1. The company reported an 87 percent increase in revenues year over year.

2. Approximately 186,000 Cologuard tests were completed in the quarter, which was also an 87 percent increase year over year.

3. Average revenue per test remained the same at $485 per test.

5. Net losses were $39.4 million or $0.33 per share, up year over year from $34.9 million or $0.32 per share.

6. Exact expects revenues to reach $420 to $430 million for 2018, and expects to complete 900,000 to 920,000 tests.

7. For the second quarter, Exact anticipates between 220,000 to 230,000 Cologuard tests will be completed.

Exact Sciences Chairman and CEO Kevin Conroy said, "The Exact Sciences team delivered strong growth to start the year by remaining relentlessly focused on our core priorities. By increasing awareness and adoption of Cologuard, we are making strides toward our mission of playing a role in the eradication of colon cancer. The success of Cologuard also positions us to develop tests that facilitate the early, accurate detection of other forms of cancer."

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