NASDAQ$EXAS
Exact Sciences Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported record results, raised full-year guidance, and accelerated path to positive free cash flow.
Exact Sciences Corp. announced strong first-quarter results with a 24% increase in total revenue to $602.5 million. The company raised its full-year revenue guidance by $110 million at the midpoint and expects to turn free cash flow positive during 2023, ahead of the previous target of 2024.
- Total first quarter revenue reached $602 million, a 24% increase year-over-year.
- Core revenue increased by 33% to $598 million.
- Full-year 2023 revenue guidance was raised by $110 million at the midpoint.
- The company anticipates achieving positive free cash flow during 2023, earlier than the previously expected 2024 target.
Headline financials
Revenue & EPS history
Exact Sciences · Revenue · Quarterly
$602M
Revenue by segment
Exact Sciences · $599M total across 2 segments · Q1 2023
- Screening$443M+44.6%74.0%
- Precision Oncology$155M+1.8%26.0%
Forward guidance
The company anticipates revenue of $2.380-$2.420 billion during 2023.
Tailwinds
- Screening revenue of $1.770-$1.795 billion
- Precision Oncology revenue of $605-$620 million
- COVID-19 testing revenue of $5 million
- Revenue guidance has been raised from the previously expected range of $2.265-$2.315 billion
- Screening revenue was previously expected to be $1.660-$1.690 billion
Headwinds
- Precision Oncology revenue was previously expected to be $600-$620 million
- COVID-19 testing revenue was previously expected to be $5 million
- Potential effects of changing macroeconomic conditions, including the effects of inflation and interest rate and foreign currency exchange rate fluctuations
- Uncertainties related to the coronavirus (“COVID-19”) pandemic
- The possibility that the anticipated benefits from business acquisitions will not be realized in full or at all or may take longer to realize than expected
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2023
+0.8%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+3.4%
Avg return
30 days after
55%
35 / 64 earnings
Positive
+35.0%
Q2 2016
Best reaction
-27.1%
Q3 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +0.0% | +0.0% | +0.7% | |
| Q3 2025 | +3.8% | -1.2% | +51.0% | |
| Q2 2025 | -8.2% | -11.0% | +14.7% | |
| Q1 2025 | +9.1% | +13.0% | +19.3% | |
| Q4 2024 | -1.9% | -0.6% | -9.6% | |
| Q3 2024 | -23.1% | -27.6% | -12.0% | |
| Q2 2024 | +24.3% | +19.7% | +32.4% | |
| Q1 2024 | -11.8% | -9.5% | -30.1% | |
| Q4 2023 | -5.2% | -8.3% | -1.0% | |
| Q3 2023 | +1.4% | +5.9% | +8.8% | |
| Q2 2023 | -12.7% | -12.6% | -14.2% | |
| Q1 2023 | +14.9% | +15.5% | +32.2% | |
| Q4 2022 | +1.9% | -5.4% | +3.0% | |
| Q3 2022 | +13.8% | +23.9% | +40.4% | |
| Q2 2022 | +0.8% | -0.3% | -23.2% | |
| Q1 2022 | -0.2% | -12.1% | -20.4% | |
| Q4 2021 | -6.9% | +5.7% | -9.5% | |
| Q3 2021 | -3.2% | +3.3% | -17.3% | |
| Q2 2021 | -0.0% | -3.2% | -7.2% | |
| Q1 2021 | -11.9% | -16.8% | -14.0% | |
| Q4 2020 | -9.0% | -4.6% | -17.4% | |
| Q3 2020 | +19.7% | +16.2% | +8.7% | |
| Q2 2020 | +0.1% | -1.8% | -22.7% | |
| Q1 2020 | +6.3% | +7.7% | +11.3% | |
| Q4 2019 | -1.1% | +1.4% | -46.8% | |
| Q3 2019 | -9.5% | -3.1% | -12.2% | |
| Q2 2019 | -0.0% | -2.4% | +1.9% | |
| Q1 2019 | -0.9% | +6.7% | +3.5% | |
| Q4 2018 | +10.1% | +10.7% | +6.4% | |
| Q3 2018 | +15.5% | +20.7% | +23.3% | |
| Q2 2018 | -11.7% | -12.9% | +28.1% | |
| Q1 2018 | +14.9% | +10.5% | +14.5% | |
| Q4 2017 | -9.2% | -4.9% | -5.4% | |
| Q3 2017 | +7.5% | +10.8% | +13.0% | |
| Q2 2017 | +0.5% | +0.1% | +4.2% | |
| Q1 2017 | +26.1% | +30.1% | +40.0% | |
| Q4 2016 | +14.0% | +7.6% | +2.9% | |
| Q3 2016 | -22.1% | -20.5% | -19.3% | |
| Q2 2016 | +35.0% | +39.5% | +52.9% | |
| Q1 2016 | -16.9% | — | — | |
| Q4 2015 | -9.5% | — | — | |
| Q3 2015 | +1.0% | — | — | |
| Q2 2015 | -8.9% | — | — | |
| Q1 2015 | +6.2% | — | — | |
| Q4 2014 | -0.8% | — | — | |
| Q3 2014 | +6.1% | — | — | |
| Q2 2014 | +1.1% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | +10.5% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | -8.0% | — | — | |
| Q1 2013 | +2.4% | — | — | |
| Q4 2012 | +2.7% | — | — | |
| Q3 2012 | +5.4% | — | — | |
| Q2 2012 | +5.4% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | +4.6% | — | — | |
| Q3 2011 | -4.1% | — | — | |
| Q2 2011 | -6.7% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q4 2010 | +2.8% | — | — | |
| Q3 2010 | -27.1% | — | — | |
| Q2 2010 | +3.3% | — | — | |
| Q1 2010 | +6.0% | — | — |
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