Ten takeaways from Exact Sciences’ fourth-quarter 2021 results:
1. Total revenue increased 2 percent, coming to $473.8 million.
2. Total revenue without COVID-19 testing saw a 16 percent increase.
3. Screening revenue increased 11 percent, coming to $277.7 million.
4. Precision oncology increased 27 percent, coming to $149 million.
5. COVID-19 testing revenue decreased 52 percent, coming to $47.1 million.
6. Gross margin with the amortization of acquired intangible assets was 70 percent.
7. The non-GAAP gross margin without the amortization of acquired intangible assets was 75 percent.
8. There was a net loss of $220.6 million or $1.28 per share compared to $418.3 million or $2.67 per share.
9. EBITDA was a loss of $175.1 million, while adjusted EBITDA saw a loss of $122.2 million.
10. At the end of the quarter, cash, cash equivalents and marketable securities equaled $1.03 billion.
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