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Mar 31, 2022
Exelixis Q1 2022 Earnings Report
Exelixis had a strong start to 2022 with momentum across all components of its business.
Key Takeaways
Exelixis reported total revenues of $356.0 million and GAAP diluted EPS of $0.21 for the first quarter of 2022. The growth was driven by increased demand for CABOMETYX® in combination with OPDIVO® and the initial impact of the drug’s U.S. label expansion into differentiated thyroid cancer.
Total revenues for the quarter ended March 31, 2022 were $356.0 million, compared to $270.2 million for the comparable period in 2021.
GAAP net income for the quarter ended March 31, 2022 was $68.6 million, or $0.21 per share, basic and diluted, compared to GAAP net income of $1.6 million for the comparable period in 2021.
Non-GAAP net income for the quarter ended March 31, 2022 was $83.9 million, or $0.26 per share, basic and diluted, compared to non-GAAP net income of $28.5 million for the comparable period in 2021.
Cash, cash equivalents, restricted cash equivalents and investments were $2.0 billion at March 31, 2022, compared to $1.9 billion at December 31, 2021.
Revenue by Segment
Forward Guidance
Exelixis is maintaining the following previously provided financial guidance for fiscal year 2022:
Positive Outlook
- Total revenues $1.525 billion - $1.625 billion
- Net product revenues $1.325 billion - $1.425 billion
- Cost of goods sold 5% - 6% of net product revenues
- Research and development expenses (1) $725 million - $775 million
- Selling, general and administrative expenses (2) $400 million - $450 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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