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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
Revenue by Segment
CABOMETYX Revenue
CapyFin.comCOMETRIQ Revenue
CapyFin.comCollaboration Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.com 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.