Exact Sciences Appoints New CFO, Boyer

TL;DR

Exact Sciences just hired a new CFO, Dr. Jeffrey S. Boyer, starting June 3rd. He's getting $500k base + stock.

AI Summary

Exact Sciences Corp. announced on May 30, 2024, the appointment of Dr. Jeffrey S. Boyer as Chief Financial Officer, effective June 3, 2024. Dr. Boyer previously served as CFO of Cerner Corporation and will receive an annual base salary of $500,000, along with other compensation and equity awards.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $500,000 — CFO Base Salary (Annual compensation for Dr. Boyer)

Key Players & Entities

• Exact Sciences Corp. (company) — Registrant
• Dr. Jeffrey S. Boyer (person) — Newly appointed Chief Financial Officer
• $500,000 (dollar_amount) — Annual base salary for new CFO
• June 3, 2024 (date) — Effective date of CFO appointment
• Cerner Corporation (company) — Previous employer of new CFO

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share EXAS The Nasdaq Sto
• $677 — 2024: Second-quarter total revenue of $677-697 million, assuming Screening revenue
• $522 — million, assuming Screening revenue of $522-532 million and Precision Oncology reve
• $155 — llion and Precision Oncology revenue of $155-165 million, Full-year total revenue o
• $2.810 — 65 million, Full-year total revenue of $2.810-2.850 billion, assuming Screening reven
• $2.155 — billion, assuming Screening revenue of $2.155-2.175 billion and Precision Oncology re
• $655 — llion and Precision Oncology revenue of $655-675 million, and Full-year adjusted EB
• $325 — lion, and Full-year adjusted EBITDA of $325-350 million. This guidance was discus

Filing Documents

• exas-20240530.htm (8-K) — 33KB
• 0001124140-24-000051.txt ( ) — 158KB
• exas-20240530.xsd (EX-101.SCH) — 2KB
• exas-20240530_lab.xml (EX-101.LAB) — 22KB
• exas-20240530_pre.xml (EX-101.PRE) — 13KB
• exas-20240530_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. The Company reaffirms its second-quarter 2024 and full-year 2024 financial guidance, which was provided on May 8, 2024: Second-quarter total revenue of $677-697 million, assuming Screening revenue of $522-532 million and Precision Oncology revenue of $155-165 million, Full-year total revenue of $2.810-2.850 billion, assuming Screening revenue of $2.155-2.175 billion and Precision Oncology revenue of $655-675 million, and Full-year adjusted EBITDA of $325-350 million. This guidance was discussed in the Company's first quarter 2024 earnings press release and related conference call and presentation, all of which may be found on the Company's website, www.exactsciences.com, on the Events and Presentations page under the Investor Relations tab. The information in this Item 7.01 of this Current Report on Form 8-K is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

Forward-Looking Statements

Forward-Looking Statements This current report on Form 8-K contains forward-looking statements concerning the Company's expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on assumptions that the Company has made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements the Company makes regarding expectations for development and commercialization of new or improved products and services and their impacts on patients, and the Company's strategies, positioning, resources, capabilities and expectations for future events or performance. Risks and uncertainties that may affect the Company's forward-looking statements are described in the Risk Factors sections of the Company's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in the Company's other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. 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. The Company presents EBITDA, adjusted EBITDA, non-GAAP gross margin, non-GAAP gross profit, core revenue, and free cash flow. This current report on Form 8-K includes certain of these measures. Management believes that presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors an

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXACT SCIENCES CORPORATION Date: June 3, 2024 By: /s/ Aaron Bloomer Aaron Bloomer Executive Vice President and Chief Financial Officer 3

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View this 8-K filing on SEC EDGAR