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Jun 30, 2023
Xeris Biopharma Q2 2023 Earnings Report
Achieved record revenue with a 14% increase from prior quarter and a 50% increase from same period prior year.
Key Takeaways
Xeris Biopharma reported record revenue of $38.0 million for Q2 2023, a 50% increase compared to the same period last year. The company is tightening its full-year 2023 guidance, expecting total net revenue between $145M and $165M and anticipates reaching cash flow breakeven by the end of 2023.
Record revenue achieved due to strong demand for all three products and partnership contributions.
Gvoke prescriptions topped 51,000, growing 50% compared to the same period in 2022.
Keveyis revenue increased 10% compared to the same period in 2022.
Recorlev revenue increased by $6.2 million compared to the second quarter of 2022, its first full quarter since launch.
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 is tightening its full-year 2023 financial guidance.
Positive Outlook
- Total net revenue expected to be between $145 million and $165 million.
- Cash utilization projected to be between $57 million and $67 million.
- Year-end cash balance anticipated to be between $55 million and $65 million.
- Company expects to reach cash flow breakeven point in the fourth quarter.
- Company aims to continue being a self-sustaining enterprise.
Revenue & Expenses
Visualization of income flow from segment revenue to net income