=EXACT Sciences (EXAS) reported earnings on Thur 27 April 2017 (b/o)

EXACT Sciences beats by $0.09, beats on revs; raises FY17 revs above consensus:

• Reports Q1 (Mar) loss of $0.32 per share, $0.09 better than the Capital IQ Consensus of ($0.41); revenues rose 225.9% year/year to $48.36 mln vs the $37.38 mln Capital IQ Consensus.
• The company completed approximately 100,000 Cologuard tests during the quarter ended March 31, 2017. First-quarter 2017 revenues and completed Cologuard test volume grew 226 percent and 150 percent from the same period of 2016, respectively.
• About 10,000 health care providers ordered their initial Cologuard test during the first quarter of 2017. Since Cologuard was launched, approximately 70,000 providers have ordered the test through the first quarter of 2017, including approximately 56,000 of the estimated 200,000 active primary care providers in the United States.
  As of April 26, 2017, approximately 197 million Americans are members of health plans that cover Cologuard, including 78 percent of those who are indicated for colorectal cancer screening.
• Average cost per test for the first quarter of 2017 was $170, compared to $227 for the same period of 2016. The company's gross margin improved from 39 percent to 65 percent from the first quarter of 2016 to the same period of 2017. The change in revenue recognition contributed approximately 3 percentage points to the first-quarter 2017 gross margin.
• Co raises guidance for FY17, sees FY17 revs of $195-205 mln (Prior $170-180 mln) vs. $177.97 mln Capital IQ Consensus Estimate; sees completed Cologuard test volume of at least 470,000 tests during 2017 vs. previously guiding for at least 415,000