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Mar 31, 2024
Xeris Biopharma Q1 2024 Earnings Report
Xeris Biopharma's Q1 2024 performance reflected a 22% revenue increase year-over-year, driven by strong growth in Recorlev sales, the resilience of Keveyis, and Gvoke's expanding market share, despite facing an estimated $3 million negative impact on Gvoke revenue due to the Change Healthcare cyberattack. The company tightened its full-year revenue guidance and advanced strategic partnerships.
Key Takeaways
Xeris Biopharma reported a 22% increase in total revenue to $40.6 million for Q1 2024 compared to Q1 2023. The growth was primarily driven by Recorlev, Keveyis and Gvoke sales. The company tightened its full-year 2024 revenue guidance to $175 million - $200 million.
Total revenue increased by 22% to $40.6 million compared to Q1 2023.
Gvoke revenue increased by 10% with growing market share, despite an estimated $3 million negative impact from the Change Healthcare cyberattack.
Recorlev revenue increased by 136.7% compared to the same period last year.
Entered into a worldwide license agreement for XeriJect formulation of teprotumumab and an exclusive worldwide agreement with Beta Bionics for a new XeriSol formulation of glucagon.
Revenue by Segment
Forward Guidance
The company is tightening full-year 2024 total revenue guidance to $175 million - $200 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
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