Exact Sciences Corporation

Thank you for standing by. At this time, I would like to welcome everyone to today's Exact Sciences second quarter 2024 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star one on your telephone keypad. Once again, star one. And in the interest of time, we ask that you limit questions to one per caller. Thank you. I would now like to turn the call over to Eric Holtz next. Manager of Investor Relations. Eric, please go ahead.

Thanks, Operator. Thank you for joining us for Exact Sciences' second quarter 2024 conference call. On the call today are Kevin Conroy, the company's chairman and CEO, and Aaron Bloomer, our Chief Financial Officer. Exact Sciences issued a news release earlier this afternoon detailing our second quarter financial results. This news release and today's presentation are available on our website at exactsciences.com. During today's call, we will make forward-looking statements based on current expectations. Our actual results may be materially different from such statements. Discussions of non-GAAP figures and reconciliations to GAAP figures are available in our earnings press release, and descriptions of the risks and uncertainties associated with exact sizes are included in our SEC filings. Both can be accessed through our website. I'll now turn the call over to Kevin.

Thanks, Eric. Our second quarter results show the power of ExactScience's platform and dedication of our world-class team. For the first time, we screened over 1 million people in a quarter with Cologuard for colon cancer, the number two deadliest cancer in the US. We tested more patients globally with Oncotype DX than ever before. Expanding and leveraging our platform led to record customer engagement. During the second quarter, more than 190,000 healthcare providers ordered our preeminent cancer tests. Over 350 health systems and oncology centers utilized ExactNexus, our proprietary technology platform. We made significant progress toward launching Cologuard Plus, our next-generation Cologuard test, and OncoDetect, our molecular residual disease test. Our team also advanced several other key pipeline programs, including our blood-based colon cancer screening test and multi-cancer screening test. The strength of our infrastructure, commercial reach, payer relationships, and exact nexus allows us to offer these tests to millions of people around the world. We delivered year-over-year core revenue growth of 13% with a slight decline in operating expenses leading to a record adjusted EBITDA of $110 million. Other highlights from the second quarter include producing $71 million of free cash flow, a $5 million improvement, being recognized as a great place to work for the sixth consecutive year, and securing an exclusive license with rights to sublicense, TwinStrand's patented sequencing technologies. These achievements reflect our dedication to helping eradicate cancer, and we're well positioned to achieve our goals for the year. Aaron will now review our second quarter results.