| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 610.81 | 10.0% |
| Total Income | 610.81 | 10.0% |
| Expenditure | 359.47 | 2.5% |
| PBT | — | |
| Net Profit | 210.47 | 31.9% |
| OPM | 41.15% | 7.51pp |
| NPM | 34.46% | 5.72pp |
| EPS | 0.81 | 42.1% |
Exelixis Reports Q1 2026 Revenue of $610.8 Million
06 May 2026 · 6 May, 1:44 am
Summary
Exelixis announced its financial results for the first quarter of 2026, with total revenues reaching $610.8 million, an increase from $555.4 million in the same period of 2025. Net product revenues also increased to $555.0 million. GAAP net income rose to $210.5 million, or $0.79 per diluted share, while non-GAAP net income reached $232.8 million, or $0.87 per diluted share. The company is maintaining its previously provided financial guidance for fiscal year 2026 and announced an additional stock repurchase program.
Key Highlights
- 1
Exelixis reported total revenues of $610.8 million for the first quarter of 2026, compared to $555.4 million for the same period in 2025.
- 2
Net product revenues for the first quarter of 2026 were $555.0 million, up from $513.3 million in the comparable period of 2025.
- 3
GAAP net income for the first quarter of 2026 was $210.5 million, or $0.79 per share diluted, compared to $159.6 million, or $0.55 per share diluted, for the same period in 2025.
- 4
Non-GAAP net income for the first quarter of 2026 was $232.8 million, or $0.87 per share diluted, compared to $179.6 million, or $0.62 per share diluted, for the same period in 2025.
- 5
The company announced an additional stock repurchase program for up to $750 million by the end of 2027.
- 6
The FDA accepted the New Drug Application for zanzalintinib in combination with atezolizumab for previously treated metastatic CRC with a target action date of December 3, 2026.
Management Comments
Michael M. Morrissey
Ph.D.
“Exelixis made significant progress in the first quarter of 2026 as we remain focused on our goal of building next-generation oncology franchises. Our first New Drug Application for zanzalintinib, for its initial potential indication in previously treated metastatic colorectal cancer, was accepted by U.S. regulatory authorities and is under active review, with a target action date of December 3, 2026. We also completed the expansion of our GI Sales team to accelerate cabozantinib’s momentum in neuroendocrine tumors and prepare for potential future indications with zanzalintinib. As the cabozantinib franchise continues to grow and we execute across seven ongoing or soon-to-start pivotal studies for zanzalintinib, we remain committed to strengthening our leadership in GU and GI oncology to improve standards of care for patients and drive long-term value for our shareholders.” Our R&D organization is on track to deliver multiple milestones this year across our zanzalintinib pivotal development program. We expect key data readouts from STELLAR-303 and STELLAR-304, advancing enrollment in STELLAR-311, and initiation of STELLAR-316. We recently initiated STELLAR-201, a phase 2 study of zanzalintinib in recurrent meningioma, and in April our collaborator Merck initiated LITESPARK-034, the second phase 3 pivotal trial under our clinical collaboration evaluating zanzalintinib in combination with WELIREG in advanced renal cell carcinoma. Today, we also announced two additional zanzalintinib studies: STELLAR-202, a planned phase 2 trial in lung cancer, and a new expansion cohort within the ongoing STELLAR-002 phase 1b/2 study evaluating zanzalintinib in combination with docetaxel in castration-resistant prostate cancer. Finally, we expect to complete our current $750 million stock repurchase program this month and initiate an additional $750 million program authorized by our Board in May 2026.”
Informational and educational content only. Not investment advice.