Although Exact Sciences saw an increase in revenue in the first quarter of 2021, it had a $31.2 million net loss.
Five takeaways from its financial results:
1. Revenue in the first quarter was $402.1 million, up 16 percent from the same period last year.
2. Net loss was $31.2 million, or $0.18 per share.
3. Screening revenue, which includes Cologuard tests, increased 10 percent at $240.3 million.
4. Precision oncology revenue was $129.4 million, and COVID-19 testing revenue was $32.3 million.
5. The company expects revenue of $1.7 billion this year, with $1.1 billion of that coming from screening products this year.