As part of the financial sector, Ando Money is dedicated to analyzing companies’ financial health. Today, we dive into Exact Sciences net worth and its financial performance in 2024.
We’ll break down the company’s revenue growth, profitability, and core business segments, offering readers a professional yet conversational overview.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Exact Sciences Corporation |
| Full Name | Exact Sciences Corporation |
| Website | exactsciences.com |
| Industry | Advanced Cancer Diagnostics |
| Traded as | Nasdaq: EXAS Russell 1000 component |
| ISIN | N/A |
| Founded | 1995 |
| Founders | Stanley Lapidus Anthony P. Shuber |
| Country/Territory | United States |
| Headquarters | Madison, Wisconsin |
| Chief Executive Officer | Kevin Conroy |
| Number of Employees | 5,000 |
| Market Cap | $12.63 Billion |
| Total Assets | $6.67 Billion |
| Total Equity | $3.19 Billion |
| Revenue (Q2 2024) | $699.26 Million |
| Net Income (Q2 2024) | -15.81 Million (Net Loss) |
What is the Net Worth/Market Cap Of Exact Sciences in 2024?
Exact Sciences has a market cap of $12.63 Billion as of October 2024. This valuation places the company as a significant player in the cancer diagnostics industry.
Compared to other companies, Exact Sciences stands out among its competitors, reflecting its strong market position.
In terms of market cap, it is among some of the larger players, though not quite at the level of the largest entities.
Some competitors and related entities include:
- Roche
- Illumina
- Guardant Health
- Quest Diagnostics
- Thermo Fisher Scientific
- Abbott Laboratories
- Hologic
- Becton Dickinson
- Bio-Rad Laboratories
- Qiagen
For readers interested in learning more about other highly valued companies, check out this list of the richest companies.
Exact Sciences Financial Performance Overview
Revenue Streams and Core Business Segments
Exact Sciences’ revenue is primarily driven by two core segments: screening and precision oncology.
These business divisions are instrumental in its financial performance, with the screening division contributing significantly to the overall revenue.
Meanwhile, precision oncology plays a vital role in complementing these revenues and driving business growth globally.
Screening Division and Its Contribution to Growth
The screening division has seen a remarkable increase in revenue, with a 15% year-over-year growth in Q2 2024.
This growth is largely attributed to the success of their flagship product, Cologuard, a non-invasive colorectal cancer screening test.
The screening division’s revenues totaled $532 Million in Q2 2024, a substantial figure that underpins the company’s strong market presence.
Precision Oncology’s Role in Financial Performance
Precision oncology remains a significant part of the company’s financial health. In Q2 2024, this division saw a 6% increase in core revenue, reaching $164 Million.
Exact Sciences leverages genomic testing to bolster the performance of this segment.
Moreover, the company’s global footprint, spanning 120 countries, has enhanced precision oncology’s contribution to the financial bottom line.
Revenue Growth and Financial Guidance for 2024
The full-year revenue guidance for 2024 stands between $2.810 to $2.850 Billion. This includes projections from both screening and precision oncology segments.
The guidance remains steady, with the adjusted EBITDA forecast raised to $335 to $355 Million, reflecting an optimistic financial outlook.
These projections showcase a balance of revenue growth and profitability, signaling confidence in the company’s financial strategy.
Product Development and Pipeline Impact on Revenue
Product development plays a critical role in Exact Sciences’ financial trajectory.
With Cologuard Plus expected to gain FDA approval soon, and ongoing developments in blood-based testing, the company is setting the stage for potential revenue surges.
Such advancements are anticipated to enhance future revenue and contribute positively to their long-term market position.
Profitability Metrics and Operating Margin
Exact Sciences delivered a record adjusted EBITDA of $110 Million in Q2 2024, representing a 16% margin rate.
This marks a notable improvement in profitability, up from the previous quarter.
Such metrics indicate efficient cost management and improved operating margins, demonstrating the company’s effort to enhance financial performance.
Investments in Research and Development
A strong commitment to research and development (R&D) is evident, with R&D expenses totaling $120.88 Million in Q2 2024.
A dedicated team of 500 members is focused on innovations that drive future revenue growth.
Such investments not only add value to the company’s offerings but also contribute to the competitive advantage in the cancer diagnostics field.
Financial Position and Cash Flow Management
Financial stability is a key feature of Exact Sciences’ operations.
With $71 Million in free cash flow generated in Q2 2024 and $107.07 Million net cash provided by operating activities, the company maintains a robust cash flow.
This level of cash flow supports continued investments in product development and strategic growth while providing a cushion for financial resilience.
Global Market Expansion and Revenue Diversification
Exact Sciences has strategically expanded its market globally, which has had a direct impact on revenue growth.
Efforts to diversify revenue sources, particularly through international genomic testing, have contributed positively to overall financial performance.
The company aims to continue growing its international reach, thereby increasing its financial returns from a more diverse customer base.
FAQs About Exact Sciences
How has Exact Sciences performed in Q2 2024?
The company recorded $699.26 Million in total revenue for Q2 2024, with a 13% core revenue growth year-over-year.
What is Exact Sciences’ projected EBITDA for 2024?
The full-year adjusted EBITDA is projected between $335 and $355 Million, according to the company’s guidance updated in July 2024.
How does Exact Sciences manage its research and development expenses?
The company invested $120.88 Million in R&D in Q2 2024, supporting a team of 500 members focused on innovation in cancer diagnostics.
What are the key products driving Exact Sciences’ revenue growth?
The flagship product, Cologuard, plays a major role in revenue growth. The screening division, in particular, experienced 15% growth year-over-year in Q2 2024.
How much free cash flow did Exact Sciences generate in Q2 2024?
The company generated $71 Million in free cash flow during Q2 2024, highlighting its strong financial management and operational efficiency.
Conclusion
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