Exact Sciences Corporation (EXAS) Releases Q4 2025 Earnings: Revenue and Gross Profit Rise but Net Loss Persists

Exact Sciences Corporation (EXAS) reported fourth-quarter 2025 results.

Key results:

Total revenue of $878.4 million, up 23.1% year-over-year.

Gross profit of $615.8 million, up 25.0% year-over-year; cost of sales was $262.6 million, up 18.9%.

Operating loss of $82.6 million, a decline of 90.6% versus the prior year.

Net loss attributable to common shareholders of $86.0 million; diluted EPS was -$0.45.

Cash flow and balance sheet highlights:

Cash from operating activities improved to $219.9 million, up 367.3% year-over-year.

Purchases of property, plant and equipment were $29.9 million, down 17.7% year-over-year.

Cash and cash equivalents totaled $956.0 million, up 59.1% year-over-year.

Total liabilities were about $3.46 billion, down 1.9% year-over-year.

Summary takeaway:

Revenue and gross profit grew strongly, but the company remained unprofitable on both an operating and net basis for the quarter.

Improved operating cash flow and a larger cash balance bolstered the company’s liquidity heading into the next period.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Exact Sciences Corporation Insider Trading Activity

Exact Sciences Corporation insiders have traded $EXAS stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $EXAS stock by insiders over the last 6 months:

KATHERINE S ZANOTTI sold 12,000 shares for an estimated $780,000
JACOB A ORVILLE (EVP, GM, Screening) sold 5,000 shares for an estimated $375,000
JAMES HERRIOTT (SVP, General Counsel & Sec) has made 0 purchases and 3 sales selling 4,000 shares for an estimated $265,120.
BRIAN BARANICK (EVP, GM, Precision Oncology) sold 2,858 shares for an estimated $200,288
JAMES EDWARD DOYLE sold 2,000 shares for an estimated $120,000

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Exact Sciences Corporation Hedge Fund Activity

We have seen 329 institutional investors add shares of Exact Sciences Corporation stock to their portfolio, and 329 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL WORLD INVESTORS removed 15,172,629 shares (-94.0%) from their portfolio in Q4 2025, for an estimated $1,540,932,201
FMR LLC removed 8,241,935 shares (-30.6%) from their portfolio in Q3 2025, for an estimated $450,916,263
WELLINGTON MANAGEMENT GROUP LLP removed 6,677,809 shares (-55.6%) from their portfolio in Q3 2025, for an estimated $365,342,930
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 5,744,568 shares (-90.3%) from their portfolio in Q4 2025, for an estimated $583,418,326
BLACKROCK, INC. added 4,571,957 shares (+43.3%) to their portfolio in Q4 2025, for an estimated $464,327,952
CITADEL ADVISORS LLC added 3,506,084 shares (+805.1%) to their portfolio in Q3 2025, for an estimated $191,817,855
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC removed 2,555,051 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $259,490,979

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Exact Sciences Corporation Government Contracts

We have seen $766,678 of award payments to $EXAS over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

TESTING SERVICES FOR PATIENT CARE: $323,800
ONCOTYPE IQ GENOMIC TESTING: $145,066
ONCOTYPE CANCER TESTING - OY 5 POP: 16 MARCH 2025 TO 15 MARCH 2026: $124,588
ONCOTYPE GENETIC TESTING SERVICES: $114,305
GENETIC TESTING PREVENTIONGENETICS LLC:1126164 [25-010421]: $58,918

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Exact Sciences Corporation Analyst Ratings

Wall Street analysts have issued reports on $EXAS in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Piper Sandler issued a "Overweight" rating on 11/11/2025
Baird issued a "Outperform" rating on 11/04/2025
TD Cowen issued a "Buy" rating on 11/04/2025
Evercore ISI Group issued a "Outperform" rating on 10/07/2025
Craig-Hallum issued a "Buy" rating on 09/11/2025

To track analyst ratings and price targets for Exact Sciences Corporation, check out Quiver Quantitative's $EXAS forecast page.

Exact Sciences Corporation Price Targets

Multiple analysts have issued price targets for $EXAS recently. We have seen 14 analysts offer price targets for $EXAS in the last 6 months, with a median target of $89.0.

Here are some recent targets:

Anthony Petrone from Mizuho set a target price of $105.0 on 01/20/2026
Vijay Kumar from Evercore ISI Group set a target price of $105.0 on 01/05/2026
Kyle Mikson from Canaccord Genuity set a target price of $105.0 on 11/25/2025
Brandon Couillard from Jefferies set a target price of $105.0 on 11/24/2025
Brandon Couillard from Wells Fargo set a target price of $105.0 on 11/21/2025
Luke Sergott from Barclays set a target price of $105.0 on 11/21/2025
David Westenberg from Piper Sandler set a target price of $80.0 on 11/11/2025