Quarterly ResultMay 5, 2026, 04:18 PM
Exelixis Q1 Net Income +31.9% to $210.5M; Revenue +10.0% to $610.8M
AI Summary
Exelixis reported strong financial results for the first quarter of 2026, with net income increasing significantly by 31.9% to $210.5 million and diluted EPS rising 43.6% to $0.79. Total revenues grew 10.0% to $610.8 million, driven by an 8.1% increase in net product revenues, primarily from CABOMETYX, and a 32.4% surge in collaboration revenues. The company also continued its share repurchase program, buying back $430.4 million of common stock, and recognized a $7.7 million commercial milestone payment from Takeda.
Key Highlights
- Net income increased 31.9% to $210.5 million for the three months ended March 31, 2026.
- Diluted EPS rose 43.6% to $0.79 for the first quarter of 2026.
- Total revenues grew 10.0% to $610.8 million in Q1 2026 compared to Q1 2025.
- Net product revenues increased 8.1% to $555.0 million, primarily from CABOMETYX sales.
- Collaboration revenues surged 32.4% to $55.8 million in the first quarter.
- Research and development expenses decreased 5.8% to $199.9 million.
- The company repurchased $430.4 million of common stock during Q1 2026.
- Recognized $7.7 million from Takeda for achieving a $300.0 million cumulative net sales milestone for cabozantinib in Japan.
Price Impact
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