Exact Sciences — May 8, 2024 release

“As we expand our portfolio globally, our seamless customer experience, powerful commercial engine, and high-quality lab and technology foundation will continue to gain momentum, supporting our mission to help eradicate cancer.” First-quarter 2024 financial results For the three-month period ended March 31, 2024, as compared to the same period of 2023 (where applicable): • Total revenue was $638 million, an increase of 6 percent on a reported and core revenue basis • Screening revenue was $475 million, an increase of 7 percent • Precision Oncology revenue was $163 million, an increase of 5 percent, or 4 percent on a core revenue basis • Gross margin including amortization of acquired intangible assets was 70 percent, and non-GAAP gross margin excluding amortization of acquired intangible assets was 73 percent • Net loss was $110 million, or $0.60 per share, compared to a net loss of $74 million, or $0.42 per share • EBITDA was $(47) million and adjusted EBITDA was $39 million • Cash used in operating activities was $82 million and free cash flow was $(120) million, • Cash, cash equivalents, and marketable securities were $652 million at the end of the quarter Screening primarily includes laboratory service revenue from Cologuard tests and PreventionGenetics. Precision Oncology includes laboratory service revenue from global Oncotype DX and therapy selection tests. 2024 outlook The company has maintained its revenue guidance of $2.810-$2.850 billion during 2024, assuming: • Screening revenue of $2.155-$2.175 billion, and • Precision Oncology revenue of $655-$675 million. First-quarter 2024 conference call & webcast Company management will host a conference call and webcast on Wednesday, May 8, 2024, at 5 p.m. ET to discuss first-quarter 2024 results. The webcast will be available at exactsciences.com. Domestic callers should dial 888-330-2384 and international callers should dial +1-240-789-2701. The access code for both domestic and international callers is 4437608. A replay of the webcast will be available at exactsciences.com. The webcast, conference call, and replay are open to all interested parties. Non-GAAP disclosure In addition to the company’s financial results determined in accordance with U.S. GAAP, the company provides non-GAAP measures that it determines to be useful in evaluating its operating performance and liquidity. The company presents EBITDA, adjusted EBITDA, non-GAAP gross margin, non-GAAP gross profit, core revenue, and free cash flow. EBITDA and adjusted EBITDA consist of net loss after adjustment for those items shown in the table below. The company defines non-GAAP gross profit and non-GAAP gross margi