Exact Sciences (EXAS) reported its sixth consecutive quarter of double-digit sales growth Tuesday. But EXAS stock interrupted its 10-month run in after-market trading and plunged almost 5%.

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The company makes Cologuard, a noninvasive method of testing stool for signs of colorectal cancer. Total revenue — which includes other diagnostic tests — climbed 19% to $622.1 million. That beat expectations for $601 million, according to FactSet. But Evercore ISI analyst Vijay Kumar says screening revenue came in slightly below whispered expectations.

“Total screening revenue grew 31% and compares with about 45% growth in the past two quarters,” he said in a note to clients. He added the second quarter had a tougher year-earlier comparator period.

Exact Sciences also reported lighter-than-expected losses of 45 cents per share, narrowing from a loss of 94 cents a share during the same three months last year.

With the earnings release, EXAS stock fell 4.9% near 91.70. Exact Sciences stock is in Cathie Wood’s ARK Innovation (ARKK) exchange-traded fund. The ETF owns almost 4% of EXAS stock.

EXAS Stock: Screening Sales Surge

The lion’s share of growth came from Exact Sciences’ screening products, like Cologuard. Sales surged to $462.8 million. The precision oncology business, which includes a breast cancer recurrence test called Oncotype DX, brought in $157.2 million, rising 2%.

Both segments topped predictions for $451 million and $149 million, respectively, though some investors wanted that screening number to be a “tad” higher, Evercore’s Kumar said.

Like Pfizer (PFE) and Merck (MRK), Exact Sciences also reported a decline for its Covid products. Revenue from Covid tests tumbled 84% to $2.1 million. But that topped EXAS stock analysts’ calls for $1 million, FactSet shows.

Exact Sciences raised its outlook for the year. It now expects roughly $2.44 billion to $2.47 billion in sales. That includes $1.82 billion to $1.84 billion from screening products, $615 million to $625 million from precision oncology and $6 million on Covid testing sales.

EXAS stock analysts had predicted full-year sales of $2.42 billion.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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