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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.
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 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