Exact Sciences (EXAS) Guides Q4 Revenues of $472M-$475M

Exact Sciences Corp. (Nasdaq: EXAS) today announced that the company expects to report revenue between $472 million and $475 million for the fourth quarter ended Dec. 31, 2021.

"The Exact Sciences team delivered outstanding results to finish 2021, setting us up for years of strong growth and a clear path to profitability," said Kevin Conroy, chairman and CEO of Exact Sciences. "Our goal is to make earlier cancer detection a routine part of medical care. Led by our top brands, Cologuard® and Oncotype DX®, and an exciting pipeline of tests in colon cancer screening, multi-cancer early detection, and minimal residual disease and recurrence monitoring, we plan to fundamentally change how cancer patients are diagnosed and treated."

Preliminary, Unaudited Fourth Quarter 2021 Financial Results

For the three-month period ended Dec. 31, 2021, as compared to the same period of 2020:

• Total revenue between $472 million and $475 million, an increase of 2 percent
• Total revenue, excluding COVID-19 testing, increased 16 percent
• Screening revenue between $277 million and $278 million, an increase of 11 percent
• Precision Oncology revenue between $148.5 million and $149.5 million, an increase of 27 percent
• COVID-19 testing revenue between $46.5 million and $47.5 million, a decrease of 53 percent

Preliminary, Unaudited 2021 Financial Results

For the twelve-month period ended Dec. 31, 2021, as compared to the same period of 2020:

• Total revenue between $1,765.3 million and $1,768.3 million, an increase of 18 percent
• Total revenue, excluding COVID-19 testing, increased 29 percent
• Screening revenue between $1,061.6 million and $1,062.6 million, an increase of 30 percent
• Precision Oncology revenue between $561.1 million and $562.1 million, an increase of 27 percent
• COVID-19 testing revenue between $142.5 million and $143.5 million, a decrease of 39 percent

For the fourth quarter and 2021, Screening includes laboratory service revenue from Cologuard tests and revenue from Biomatrica products. Precision Oncology includes laboratory service revenue from global Oncotype and GEM ExTra laboratory service revenue.

Exact Sciences has not completed preparation of its financial statements for the fourth quarter or full year of 2021. The revenue ranges presented in this news release for the fourth quarter of 2021 and for the year ended Dec. 31, 2021 are preliminary and unaudited and are thus inherently uncertain and subject to change as we complete our financial results for the fourth quarter of 2021. Exact Sciences is in the process of completing its customary year-end close and review procedures as of and for the year ended Dec. 31, 2021, and there can be no assurance that final results for this period will not differ from these estimates. During the course of the preparation of Exact Sciences' consolidated financial statements and related notes as of and for the year ended Dec. 31, 2021, the company's independent registered public accountants may identify items that could cause final reported results to be materially different from the preliminary financial estimates presented herein.

Exact Sciences plans to report 2021 financial results during its February 2022 earnings call.

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