Exelixis Q4 2019 Earnings Report
Key Takeaways
Exelixis announced fourth quarter and full year 2019 financial results, reporting total revenues of $240.3 million for the quarter and $967.8 million for the full year. GAAP diluted EPS was $0.22 for the quarter and $1.02 for the full year. The company highlighted the cabozantinib franchise exceeding $1.0 billion in annual global net revenue.
Total revenue for Q4 2019 was $240.3 million, and $967.8 million for the full year.
GAAP diluted EPS for Q4 2019 was $0.22, and $1.02 for the full year.
Non-GAAP diluted EPS for Q4 2019 was $0.26, and $1.16 for the full year.
Cabozantinib franchise net revenues exceeded $1.0 billion globally in 2019.
Exelixis
Exelixis
Exelixis Revenue by Segment
Forward Guidance
Exelixis provided financial guidance for fiscal year 2020, including total revenues between $850 million and $900 million, and cash and investments between $1.5 billion and $1.6 billion.
Positive Outlook
- Total revenues $850 million - $900 million
- Net product revenues $725 million - $775 million
- Cost of goods sold 4% - 5% of net product revenues
- Effective tax rate 20% - 22%
- Cash and investments $1.5 billion - $1.6 billion
Challenges Ahead
- Research and development expenses $460 million - $500 million
- Selling, general and administrative expenses $230 million - $250 million
- This cash guidance does not include any potential new business development activity