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Mar 31
Exelixis Q1 2025 Earnings Report
Exelixis reported strong Q1 2025 results, driven by record CABOMETYX revenue and raised full-year guidance.
Key Takeaways
Exelixis delivered a strong performance in Q1 2025 with total revenue of $555.4M and net income of $159.6M, boosted by rising demand for CABOMETYX. The company raised its full-year 2025 revenue outlook and reported progress on several clinical and pipeline milestones.
Total revenue grew to $555.4M, led by $513.3M in net product revenue.
CABOMETYX approval for NET led to immediate market launch and strong initial uptake.
Non-GAAP EPS came in at $0.62, while GAAP EPS was $0.55.
Raised 2025 total revenue guidance by $100M amid strong Q1 momentum.
Exelixis
Exelixis
Exelixis Revenue by Segment
Exelixis Revenue by Geographic Location
Forward Guidance
Exelixis increased its 2025 total and net product revenue guidance by $100M due to strong CABOMETYX performance and momentum from new indications.
Positive Outlook
- Raised full-year revenue and product revenue guidance.
- Strong launch of CABOMETYX in advanced NET.
- Clinical progress with zanzalintinib across multiple STELLAR trials.
- Continued investment in early-stage pipeline with IND submissions underway.
- Ongoing execution of stock repurchase program reducing outstanding shares.
Challenges Ahead
- Decrease in collaboration revenues YoY.
- Higher SG&A expenses driven by increased marketing and personnel.
- Ongoing dependence on CABOMETYX for majority of revenue.
- Pipeline data readouts still pending, adding near-term uncertainty.
- Limited disclosure on cash or liquidity metrics this quarter.