Loading...
•
Sep 30, 2023
Exelixis Q3 2023 Earnings Report
Exelixis reported strong Q3 2023 financial results, driven by the CABOMETYX® commercial franchise, and provided a corporate update.
Key Takeaways
Exelixis announced strong Q3 2023 financial results with total revenues of $471.9 million, compared to $411.7 million for the comparable period in 2022. Net product revenues were $426.5 million, an increase from $366.5 million in the same period of the prior year. GAAP net income was $1.0 million, or $0.00 per share, while non-GAAP net income was $32.1 million, or $0.10 per share.
Total revenues for Q3 2023 were $471.9 million, compared to $411.7 million for the comparable period in 2022.
Net product revenues for Q3 2023 were $426.5 million, compared to $366.5 million for the comparable period in 2022.
GAAP net income for Q3 2023 was $1.0 million, or $0.00 per share, compared to $73.2 million, or $0.23 per share for the comparable period in 2022.
Non-GAAP net income for Q3 2023 was $32.1 million, or $0.10 per share, compared to $102.0 million, or $0.32 per share for the comparable period in 2022.
Revenue by Segment
Forward Guidance
Exelixis is providing the following updated financial guidance for fiscal year 2023:
Positive Outlook
- Total revenues $1.825 billion - $1.850 billion
- Net product revenues $1.625 billion - $1.650 billion
- Cost of goods sold4.0% - 5.0% of net product revenues
- Research and development expenses (1)$1.050 billion - $1.075 billion
- Selling, general and administrative expenses (2)$525 million - $550 million
Challenges Ahead
- Effective tax rate20% - 22%
- Total revenues $1.825 billion - $1.850 billion
- Net product revenues $1.625 billion - $1.650 billion
- Research and development expenses (1) $1.050 billion - $1.075 billion
- Selling, general and administrative expenses (2) $525 million - $550 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...