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Mar 31, 2023
Xeris Biopharma Q1 2023 Earnings Report
Achieved record total revenue with strong underlying patient demand and expanded XeriJect collaboration.
Key Takeaways
Xeris Biopharma reported a strong start to 2023, achieving record total revenue of $33.2 million, a 50% increase compared to Q1 2022. The company ended the quarter with $95.1 million in cash, cash equivalents, and short-term investments and reaffirmed its 2023 revenue and cash guidance.
Total revenue reached $33.2 million, representing 50% growth compared to Q1 2022.
Gvoke prescriptions topped 45,000, growing approximately 50% compared to the same period in 2022.
Keveyis net revenue increased by approximately 37% compared to Q1 2022, driven by higher patient demand.
Ended Q1 2023 with $95.1 million in cash, cash equivalents, and short-term investments.
Xeris Biopharma
Xeris Biopharma
Xeris Biopharma Revenue by Segment
Revenue by Segment
Recorlev Revenue
CapyFin.comGvoke Revenue
CapyFin.comKeveyis Revenue
CapyFin.com Forward Guidance
Xeris Biopharma affirms its 2023 guidance, projecting total revenue between $135 million and $165 million, cash utilization from operating activities between $57 million and $77 million, and year-end cash, cash equivalents, and short-term investments between $45 million and $65 million.
Positive Outlook
- Projected total revenue between $135 million and $165 million.
- Targeting cash flow breakeven in the fourth quarter this year.
- Continued growth of Gvoke prescriptions.
- Strong underlying patient demand in all three commercial products.
- Addition of another XeriJect collaboration.
Challenges Ahead
- Cash utilization from operating activities projected between $57 million and $77 million.
- Year-end cash, cash equivalents, and short-term investments projected between $45 million and $65 million.
- Reliance on third-party suppliers, including single-source suppliers.
- Reliance on third parties to conduct clinical trials.
- Potential impacts of financial, operational, economic, competitive, regulatory, governmental, technological, and other factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income