Loading...
•
Jun 30, 2023
Exelixis Q2 2023 Earnings Report
Exelixis reported a strong Q2 2023 with increased revenues and EPS, driven by CABOMETYX® sales and pipeline advancements.
Key Takeaways
Exelixis announced its second quarter 2023 financial results, reporting total revenues of $469.8 million and GAAP diluted EPS of $0.25. The company highlighted the strong performance of CABOMETYX® and progress in its pipeline development, including zanzalintinib and XB002.
Total revenues for the quarter were $469.8 million, compared to $419.4 million for the same period in 2022.
Net product revenues reached $409.6 million, driven by increased sales volume and average net selling price.
GAAP net income was $81.2 million, or $0.25 per share, diluted, compared to $70.7 million, or $0.22 per share, diluted, for the same period in 2022.
Non-GAAP net income was $100.3 million, or $0.31 per share, diluted, compared to $89.7 million, or $0.28 per share, diluted, for the same period in 2022.
Exelixis
Exelixis
Exelixis Revenue by Segment
Revenue by Segment
CABOMETYX Revenue
CapyFin.comCOMETRIQ Revenue
CapyFin.comLicense Revenue
CapyFin.comCollaboration Revenue
CapyFin.com Forward Guidance
Exelixis is maintaining its previously provided financial guidance for fiscal year 2023.
Positive Outlook
- Total revenues are expected to be between $1.775 billion and $1.875 billion.
- Net product revenues are projected to range from $1.575 billion to $1.675 billion.
- Cost of goods sold is estimated to be 4.0% - 5.0% of net product revenues.
- Research and development expenses are anticipated to be between $1.000 billion and $1.050 billion.
- The effective tax rate is expected to be 20% - 22%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income