Just caught up on EXAS earnings and it's a mixed bag worth keeping on my watchlist. They beat on revenues with Q4 hitting $878.4 million, up 23% year-over-year, and full-year came to $3.25 billion. Their Screening segment is still the workhorse at $695.1 million, growing 26% YoY. Precision Oncology also holding up at $183.2 million with solid 14% growth.

Here's what caught my eye though - gross margins actually expanded to 70.1%, which is encouraging. But the flip side isn't great. They posted a Q4 net loss of 21 cents per share versus 6 cents a year ago, and operating expenses jumped 30.9%. R&D spending nearly doubled to $191.5 million, which explains some of the pressure.

The merger with Abbott is still in the works for Q2 2026, pending regulatory approval. I'm keeping EXAS on my watchlist to see how that plays out. Stock barely moved on the news, up just 0.07%. If you're tracking healthcare plays, this one's worth monitoring given the growth trajectory in their core segments, but the expense burn is something to watch closely. Definitely adding to my watchlist for the next quarter update.