EXAS · As filed with the SEC
Exact Sciences cash flow statement, by fiscal year
The statement as Exact Sciences presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2021 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net loss | (207,949) | (1,028,857) | (204,149) | (623,506) | (595,625) | (848,533) | (83,993) | (175,149) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation | — | — | 114,448 | 100,108 | 85,345 | 69,964 | 34,212 | 20,482 |
| Loss on disposal of property, plant and equipment | — | — | — | 1,863 | 1,055 | 2,470 | 1,394 | 353 |
| Realized gain on sale of marketable securities | — | — | — | — | — | — | (3,355) | — |
| Unrealized (gain) loss on equity investments | — | — | — | 11,774 | 1,492 | (1,179) | 207 | — |
| Loss on preferred stock investment | — | — | — | — | — | 0 | 0 | 765 |
| Deferred tax benefit | — | — | — | (11,901) | (253,169) | (9,862) | (185,109) | — |
| Depreciation | 124,879 | 119,701 | — | — | — | — | — | — |
| Equity Securities, FV-NI, Gain (Loss) | 3,081 | (2,713) | 4,098 | — | — | — | — | — |
| Deferred tax benefit | — | — | (955) | — | — | — | — | — |
| Deferred tax benefit | (1,544) | (10,119) | — | — | — | — | — | — |
| Share-Based Payment Arrangement, Noncash Expense | 217,666 | 214,885 | 231,312 | 206,823 | 253,063 | 152,906 | 108,483 | 60,264 |
| Amortization of debt discount | — | — | — | — | — | — | — | 26,291,000 |
| Amortization of debt issuance costs | — | — | — | — | — | — | — | 2,273,000 |
| Amortization of other liabilities | — | — | — | — | — | — | — | (2,500,000) |
| Amortization of deferred financing costs | — | — | — | — | — | — | — | 106,000 |
| Post-combination expense for acceleration of unvested equity | — | — | 0 | 0 | 80,960 | — | — | — |
| Realized gain on preferred stock investment | — | — | — | — | (30,500) | — | — | — |
| Realized (gain) loss on non-marketable investments | — | — | — | 10,000 | — | — | — | — |
| Loss on settlement of convertible notes | — | — | — | 0 | 0 | 7,954 | 10,558 | — |
| Amortization of deferred financing costs, convertible note debt discount and issuance costs, and other liabilities | — | — | — | 7,127 | 6,683 | 76,479 | 42,256 | — |
| Amortization of deferred financing costs and other liabilities | — | — | — | — | — | (3,889) | (4,467) | — |
| Amortization of premium on short-term investments | — | — | — | 1,845 | 4,618 | 1,549 | (3,102) | (3,901) |
| Gain on settlements of convertible notes, net | 0 | (10,254) | (10,324) | — | — | — | — | — |
| Amortization of Intangible Assets | 96,700 | 95,158 | 92,160 | 97,450 | 95,001 | 93,398 | 16,035 | 2,602 |
| Asset acquisition IPR&D expense | — | — | — | 0 | 85,337 | 412,568 | — | — |
| Intangible asset impairment charge | — | — | — | — | — | 209,666 | — | — |
| Intangible asset impairment charge | — | — | — | — | 20,210 | — | — | — |
| Asset acquisition IPR&D expense | — | — | 500 | — | — | — | — | — |
| Loss on sale of asset | — | 0 | 0 | 13,244 | — | — | — | — |
| Impairment of long-lived and indefinite-lived assets | 7,200 | 869,460 | 621 | 15,969 | — | — | — | — |
| Research and Development Asset Acquired in Transaction Other than Business Combination or Joint Venture Formation, Writeoff | 75,000 | — | — | — | — | — | — | — |
| Gain (Loss) On Contingent Consideration From Disposition Of Asset | 0 | (9,200) | (73,300) | — | — | — | — | — |
| Other Noncash Expense | — | — | 399 | — | — | — | — | — |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 26,806 | (3,346) | (18,044) | (56,617) | 6,360 | — | — | — |
| Non-cash lease expense | 27,040 | 26,926 | 27,891 | 28,639 | 25,825 | 15,720 | 5,427 | — |
| Other Noncash Income (Expense) | 6,896 | (519) | — | — | — | — | — | — |
| Changes in assets and liabilities, net of effects of acquisition: | ||||||||
| Accrued interest | — | — | — | — | — | — | — | 4,593,000 |
| Accounts receivable, net | (48,891) | (46,259) | (43,416) | 61,088 | 25,150 | (100,526) | (27,938) | (17,292) |
| Inventory, net | (3,772) | (34,911) | (7,690) | (13,231) | (9,221) | (30,310) | (19,041) | (12,729) |
| Prepaid expenses and other current assets | — | — | — | — | — | — | — | (9,076,000) |
| Operating lease liabilities | — | — | — | — | — | (8,784) | (4,114) | — |
| Operating lease liabilities | (28,541) | (25,783) | (26,701) | (20,646) | (16,685) | — | — | — |
| Accounts payable and accrued liabilities | 214,042 | 43,538 | 82,750 | (52,180) | 169,800 | 55,165 | 3,469 | 11,332 |
| Accrued liabilities | — | — | — | — | — | — | — | 21,744,000 |
| Other short-term liabilities | — | — | — | — | — | — | — | 172,000 |
| Lease incentive obligation | — | — | — | — | — | — | — | 345,000 |
| Other assets and liabilities | — | — | — | (1,408) | (57,935) | 41,726 | (5,932) | — |
| Increase (Decrease) in Other Operating Assets | (5,794) | (2,323) | (11,618) | — | — | — | — | — |
| Increase (Decrease) in Other Operating Liabilities | (5,219) | 9,726 | 6,333 | — | — | — | — | — |
| Net cash provided by operating activities | 491,438 | 210,536 | 156,119 | (223,559) | (102,236) | 136,482 | (115,010) | (69,325) |
| Cash flows from investing activities: | ||||||||
| Purchases of marketable securities | (140,269) | (465,031) | (139,854) | (131,486) | (1,164,050) | (1,089,953) | (634,117) | (1,192,506) |
| Maturities and sales of marketable securities | 572,277 | 205,821 | 363,156 | 453,072 | 794,322 | 886,675 | 1,660,559 | 579,171 |
| Purchases of property, plant and equipment | (134,656) | (135,989) | (124,190) | (214,462) | (135,766) | (64,352) | (171,802) | (150,093) |
| Proceeds from Sale of Productive Assets | — | 0 | 0 | 25,000 | — | — | — | — |
| Proceeds From Contingent Consideration Receivable | 27,971 | — | — | — | — | — | — | — |
| Proceeds From Sale Of Investments In Privately-Held Companies | 0 | 0 | 19,794 | — | — | — | — | — |
| Payments to Acquire Other Investments | (55,499) | (1,731) | (16,564) | (42,823) | (18,044) | (15,947) | — | — |
| Business combination, net of cash acquired and issuance costs | 0 | 0 | (52,413) | (14,686) | (499,730) | (6,658) | (973,861) | (17,908) |
| Purchases of intangible assets | — | — | — | — | — | — | 0 | — |
| Internally developed software | — | — | — | — | — | — | — | (578,000) |
| Asset acquisitions, net of cash acquired | (75,000) | (45,000) | (500) | 0 | (58,073) | (411,421) | — | — |
| Other investing activities | 297 | (225) | 250 | (549) | (744) | (381) | (1,852) | — |
| Net cash provided by (used in) investing activities | 195,121 | (442,155) | 49,679 | 74,066 | (1,082,085) | (702,037) | (121,073) | (781,914) |
| Cash flows from financing activities: | ||||||||
| Proceeds from Accounts Receivable Securitization | — | 0 | 0 | 50,000 | — | — | — | — |
| Proceeds, Issuance of Shares, Share-Based Payment Arrangement, Including Option Exercised | 1,902 | 1,651 | 3,197 | 6,524 | 14,437 | 27,077 | 8,787 | 6,636 |
| Proceeds from sale of common stock, net of issuance costs | — | — | — | 0 | 0 | 861,701 | 0 | — |
| Proceeds in connection with the Company's employee stock purchase plan | 26,544 | 31,227 | 28,344 | 25,491 | 23,070 | 18,355 | 8,396 | 4,895 |
| Payments of deferred financing costs | — | — | — | — | — | — | — | (24,000) |
| Payments on settlement of convertible notes | — | — | — | 0 | 0 | (150,054) | (493,356) | — |
| Proceeds from construction loan, net deferred financing costs | — | — | — | — | — | 0 | 319 | 24,260 |
| Payments on mortgage payable | — | — | — | — | — | — | — | (4,678,000) |
| Payments on capital lease | — | — | — | — | — | — | — | (139,000) |
| Other financing activities | — | — | — | — | — | — | (442) | — |
| Payments on construction loan | — | — | 0 | 0 | (23,749) | — | — | — |
| Proceeds from issuance of convertible notes | 0 | 266,750 | 137,976 | 0 | 0 | 1,125,547 | 729,477 | 896,430 |
| Proceeds from financing obligation | — | — | — | — | — | — | — | 6,762,000 |
| Proceeds from financing obligation, net payments on mortgage payable | — | — | — | — | — | — | 0 | — |
| Repayments of Accounts Receivable Securitization | 0 | 50,000 | — | — | — | — | — | — |
| Repayments of convertible debt | 249,172 | — | — | — | — | — | — | — |
| Payment, Tax Withholding, Share-Based Payment Arrangement | 86,477 | — | — | — | — | — | — | — |
| Payment for Contingent Consideration Liability, Financing Activities | 19,000 | — | — | — | — | — | — | — |
| Other financing activities | (11,887) | (17,754) | (9,751) | (5,530) | (5,286) | (3,005) | — | — |
| Net cash provided by (used in) financing activities | (338,090) | 231,874 | 159,766 | 76,485 | 8,472 | 1,879,621 | 253,181 | 934,142 |
| Effects of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | — | 36,000 |
| Net increase in cash and cash equivalents | — | — | — | — | — | — | — | 82,939,000 |
| Cash and cash equivalents, beginning of period | — | — | — | — | — | — | 160,430,000 | 77,491,000 |
| Cash and cash equivalents, end of period | — | — | — | — | — | — | — | 160,430,000 |
| Effects of exchange rate changes on cash and cash equivalents | 891 | (3,294) | 1,321 | 30 | 23 | 0 | 0 | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 349,360 | (3,039) | 366,885 | (72,978) | (1,175,826) | 1,314,066 | 17,098 | — |
| Cash, cash equivalents, and restricted cash, beginning of period | 606,636 | 609,675 | 242,790 | 315,768 | 1,491,594 | 177,528 | 160,430 | — |
| Cash, cash equivalents, and restricted cash, end of period | 955,996 | 606,636 | 609,675 | 242,790 | 315,768 | 1,491,594 | 177,528 | — |
| Non-cash investing and financing activities: | ||||||||
| Property, plant and equipment acquired but not paid | 16,282 | 13,721 | 18,505 | 15,943 | 33,177 | 2,685 | 10,265 | 33,452 |
| Property acquired under build-to-suit lease | — | — | — | — | — | 0 | 0 | 2,092 |
| Unrealized (loss) gain on available-for-sale investments | — | — | — | — | (2,162) | 771 | 1,322 | (708) |
| Issuance of 162,606, 136,559, and 86,532 shares of common stock to fund the Company’s 401(k) matching contribution for 2020, 2019, and 2018, respectively | — | — | — | — | 22,934 | 12,007 | 7,409 | 4,303 |
| Issuance of 2,159,716 shares of common stock upon settlement of convertible notes | — | — | — | — | — | 0 | (182,477) | — |
| Retirement of equity component of convertible notes settled | — | — | — | — | — | (64,199) | (300,768) | — |
| Issuance of 2,159,716 shares of common stock upon settlement of convertible notes | — | — | — | — | 0 | — | — | — |
| Issuance of 10,581,429, 386,293, and 17,046,159 shares of common stock in 2021, 2020, and 2019, respectively, for business combination | — | — | — | — | (1,355,170) | (28,847) | (1,407,080) | — |
| Business acquisition contingent consideration liability | — | — | — | — | — | 0 | 0 | 3,060 |
| Interest paid | — | — | — | — | — | — | — | 4,638,000 |
| Business acquisition contingent consideration liability | — | — | 0 | 4,600 | 350,348 | — | — | — |
| Stock Issued During Period, Value, Employee Benefit Plan | 43,943 | 40,550 | — | — | — | — | — | — |
| Supplemental disclosure of cash flow information: | ||||||||
| Interest paid | 30,444 | 27,839 | 18,776 | 11,519 | 10,735 | 9,384 | 9,301 | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.