Exact Sciences Q4 Earnings Match Estimates, Revenues Beat, Stock Up

Exact Sciences Corporation EXAS reported a net loss of 21 cents per share in fourth-quarter 2025, higher than the year-ago loss of 6 cents. The figure matched the Zacks Consensus Estimate. 

Full-year 2025 earnings per share were 7 cents compared with the year-ago loss of 23 cents. 

EXAS Revenues

Fourth-quarter consolidated revenues totaled $878.4 million, up 23.1% on a reported basis and 23% on a core revenue basis. The figure beat the Zacks Consensus Estimate by 2.1%.

Full-year 2025 consolidated revenues totaled $3.25 billion, up 17.7% on a reported basis and 18% on a core revenue basis.

Following the announcement, EXAS’ shares edged up marginally by 0.07% on Monday. 

EXAS Q4 Segments in Detail

Screening revenues, including laboratory service revenues from Cologuard and PreventionGenetics, totaled $695.1 million. The figure increased 26% year over year. 

Precision Oncology revenues, including laboratory service revenues from global Oncotype products and therapy selection products, were $183.2 million, up 14% year over year and 12% on a core basis. 

EXAS’ Margins

Exact Sciences’ gross profit rose 25% year over year to $615.8 million. The gross margin expanded 106 basis points (bps) to 70.1%.

Research and development expenses rose 96% year over year to $191.5 million. Sales and marketing expenses moved up 18% to $288.5 million.

General and administrative expenses rose 14.1% year over year to $218 million.

Adjusted operating expenses were $698 million, up 30.9% year over year. The company incurred an adjusted operating loss of $82.2 million compared with the year-ago operating loss of $40.8 million.

EXAS’ Financial Update

Exact Sciences exited the fourth quarter of 2025 with cash and cash equivalents and marketable securities of $964.7 million compared with $1.04 billion at the end of fourth-quarter 2024.

Cumulative net cash provided by operating activities totaled $491.4 million compared with the year-ago figure of $210.5 million. 

Exact Sciences Corporation Price, Consensus and EPS Surprise

Exact Sciences Corporation price-consensus-eps-surprise-chart | Exact Sciences Corporation Quote

Our Take on EXAS

Exact Sciences exited the fourth quarter with earnings matched and revenues beat their respective Zacks Consensus Estimate. Robust revenues from the Screening and Precision Oncology segments contributed to the top line. Meanwhile, gross margin expansion looks encouraging. 

Notable developments in the fourth quarter include the announcement of the first clinical study with favorable results from its Oncodetect molecular residual disease test in breast cancer. The company also announced pivotal clinical validation results from the ALTUS study in the quarter. 

As previously announced, on Nov. 19, 2025, Exact Sciences entered into a merger agreement with Abbott Laboratories and Badger Merger Sub I, Inc. The two parties are continuing to engage with regulators reviewing the proposed transaction and are working toward closing in the second quarter of 2026, subject to obtaining required regulatory approvals and satisfaction or waiver of other customary closing conditions.

On the flip side, escalating expenses and the operating loss raise apprehension. The company’s net loss in the quarter does not bode well. 

Zacks Rank and Key Picks

Exact Sciences currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks from the broader medical space are Intuitive Surgical ISRG, Cardinal Health CAH and Align Technology ALGN.

Intuitive Surgical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $2.53, which surpassed the Zacks Consensus Estimate by 12.4%. Revenues of $2.87 billion beat the Zacks Consensus Estimate by 4.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

ISRG has an estimated long-term earnings growth rate of 15.7% compared with the industry’s 12.7% rise. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 13.24%.

Cardinal Health, carrying a Zacks Rank #2 (Buy) at present, posted a second-quarter fiscal 2026 adjusted EPS of $2.63, exceeding the Zacks Consensus Estimate by 10%. Revenues of $65.6 billion topped the Zacks Consensus Estimate by 0.9%.

CAH has a long-term earnings growth rate of 15% compared with the industry’s 9.6% rise. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 9.3%.

Align Technology, carrying a Zacks Rank #2 at present, posted a fourth-quarter 2025 adjusted EPS of $3.29, exceeding the Zacks Consensus Estimate by 10.1%. Revenues of $1.05 billion outperformed the Zacks Consensus Estimate by 5.3%.

ALGN has an estimated long-term earnings growth rate of 10.1% compared with the industry’s 9.5% rise. The company’s earnings outpaced estimates in three of the trailing four quarters and missed in one, the average surprise being 6.16%.

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This article originally published on Zacks Investment Research (zacks.com).

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