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Sep 30, 2022
Xeris Biopharma Q3 2022 Earnings Report
Achieved record net product revenue and raised year-end cash balance guidance.
Key Takeaways
Xeris Biopharma reported a strong third quarter with record net product revenue of $29.6 million, a 17% increase from Q2 2022 and a 31% increase from the same period last year on a pro forma basis. The company also raised its year-end cash balance guidance to $110-$120 million and reaffirmed its full-year total net product revenue guidance to $105M-$110M.
Record net product revenue of $29.6 million, up 17% from Q2 2022.
Gvoke net revenue increased by 24% compared to Q3 2021.
Keveyis net revenue increased by 17% compared to Q3 2021 on a pro forma basis.
Raised year-end cash balance guidance to $110-$120 million.
Xeris Biopharma
Xeris Biopharma
Xeris Biopharma Revenue by Segment
Revenue by Segment
Recorlev Revenue
CapyFin.comGvoke Revenue
CapyFin.comKeveyis Revenue
CapyFin.com Forward Guidance
The company has tightened full-year total net product revenue guidance to $105M-$110M and raised 2022 year-end cash balance guidance from $90M-$110M to $110M-$120M. Remains on track to achieve $50M in synergies by year-end 2022 and cash flow breakeven by year-end 2023
Positive Outlook
- Tightened full-year total net product revenue guidance to $105M-$110M
- Raised 2022 year-end cash balance guidance from $90M-$110M to $110M-$120M
- Remains on track to achieve $50M in synergies by year-end 2022
- Remains on track to achieve cash flow breakeven by year-end 2023
- Expect to build upon 2022 momentum and continue creating shareholder value through continued revenue growth
Challenges Ahead
- No specific negatives provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income