Exact Sciences Corporation (NASDAQ:EXAS) Q4 2022 Earnings Conference Call February 21, 2023 5:00 PM ET

Company Participants

Megan Jones - Investor Relations

Kevin Conroy - Chairman and Chief Executive Officer

Jeff Elliott - Chief Financial Officer and Chief Operating Officer

Everett Cunningham - Chief Commercial Officer

Conference Call Participants

Derik De Bruin - Bank of America

Andrew Brackmann - William Blair

Dan Brennan - Cowen

Vijay Kumar - Evercore ISI

Catherine Schulte - Baird

Brandon Couillard - Jefferies

Matt Sykes - Goldman Sachs

Jack Meehan - Nephron Research

Mark Massaro - BTIG

Dan Arias - Stifel

Puneet Souda - SVB Securities

Patrick Donnelly - Citi

Andrew Cooper - Raymond James

Dan Leonard - Credit Suisse

Operator

Good morning. My name is Rob and I will be your conference operator today. At this time, I’d like to welcome everyone to the Exact Sciences Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions]

Thank you. Megan Jones, Senior Director, Investor Relations, you may begin your conference.

Megan Jones

Thanks, Rob. Thank you for joining us for Exact Sciences fourth quarter 2022 conference call. On the call today are Kevin Conroy, the company’s Chairman and CEO and Jeff Elliott, our Chief Financial Officer and Chief Operating Officer. Everett Cunningham, our Chief Commercial Officer, will also be available for questions. Exact Sciences issued a news release earlier this afternoon detailing our fourth quarter financial results. This news release and today’s presentation are available on our website at exactsciences.com.

During today’s call, we will make forward-looking statements based on current expectations. Our actual results may have material differences from such statements. Discussions of non-GAAP figures and reconciliations to GAAP figures are available in our earnings press release and descriptions of the risks and uncertainties associated with Exact Sciences are included in our SEC filings. Both can be accessed through our website.

I will now turn the call over to Kevin.

Kevin Conroy

The strength of our foundation supporting the best brands in cancer diagnostics puts us in a leading position to continue delivering innovative cancer tests, consistent revenue growth and profitability. We are using this platform to help prevent cancer, detect it earlier and guide treatment for more patients globally.

Achievements in 2022 that helped strengthen our leadership include surpassing 12 million cumulative people tested for cancer, including 10 million with colder expanding our global network of ordering healthcare professionals to more than 350,000, growing core revenue $380 million year-over-year, becoming adjusted EBITDA profitable in the fourth quarter, completing enrollment of BLUE-C, our pivotal study to support our next-generation Cologuard and colon cancer blood tests, and generating evidence for our multi-cancer early detection and molecular residual disease tests.