Exact Sciences Corp (NAS:EXAS)

$ 53.52 2.52 (4.94%) Market Cap: 9.88 Bil Enterprise Value: 11.31 Bil PE Ratio: 0 PB Ratio: 3.14 GF Score: 78/100

Exact Sciences Corp at Wolfe Research Inaugural Healthcare Conference Transcript

Nov 06, 2019 / 07:25PM GMT

Release Date Price: $80.84 (-4.02%)

Transcript

Jeffrey T. Elliott

Exact Sciences Corporation - CFO

All right. Good afternoon. My name is Jeff Elliott. I'm CFO of Exact Sciences. Thank you all for coming. Before we begin, 2 slides from our lawyers here. I think the point here is that lawyers should never do PowerPoint. Quick recap of our results from last quarter. We reported these last week. We had a very strong quarter, grew the top line by 85%. We'll get into some of the growth drivers behind that, but it's safe to say that we have a lot of growth drivers out there and a long runway ahead.

Gross margin. We had our best gross margin ever with nice year-over-year improvement. OpEx grew by 29 points lower than revenue, so we're seeing very good operating margin leverage. And the balance sheet at the end of the quarter had $1.2 billion of cash, so we're very well capitalized.

Quick overview of who Exact Sciences is. We are focused on the early detection and prevention of cancer. The reason why it's so important to focus on early detection is that's where you can really help save lives. Most companies in health care are focused on the

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