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Dec 31, 2022
Xeris Biopharma Q4 2022 Earnings Report
Xeris Biopharma reported a record-breaking quarter, achieving significant revenue growth and strategic advancements.
Key Takeaways
Xeris Biopharma reported a strong fourth quarter in 2022, with a 52% increase in net product revenue compared to Q4 2021. The company achieved full-year net product revenue growth of 38% on a pro forma basis and ended the year with $122.0 million in cash, cash equivalents, and short-term investments. Xeris also provided 2023 revenue guidance of $135M-$165M and anticipates cash flow breakeven in Q4 2023.
Net product revenue increased by 52% compared to Q4 2021, reaching $32.5 million.
Full-year net product revenue grew by 38% compared to 2021, totaling $109.3 million.
Ended 2022 with $122.0 million in cash, cash equivalents, and short-term investments.
Announced research collaboration and option agreement with Horizon Therapeutics for XeriJect formulation of TEPEZZA.
Revenue by Segment
Forward Guidance
Xeris Biopharma provided full-year 2023 financial guidance, including 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. The company projects cash flow breakeven in the fourth quarter of 2023.
Positive Outlook
- Combined total revenue for Gvoke, Keveyis, Recorlev, and Other Revenue of $135 million to $165 million
- Cash flow breakeven in the fourth quarter
Challenges Ahead
- Cash utilization from operating activities of $57 million to $77 million
- Year-end cash, cash equivalents, and short-term investments of $45 million to $65 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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