| Metric | Value ($ M) | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue | 628.69 | 2.9% | 10.6% |
| Total Income | 628.69 | 2.9% | 10.6% |
| Expenditure | 380.28 | 5.8% | 7.2% |
| PBT | — | ||
| Net Profit | 212.05 | 0.8% | 14.7% |
| OPM | 39.51% | 1.64pp | 1.93pp |
| NPM | 33.73% | 0.73pp | 1.20pp |
| EPS | 0.85 | 4.9% | 25.0% |
Exelixis Announces Q2 2026 Financial Results and Corporate Update
06 Aug 2026 · 6 Aug, 1:49 am
Summary
Exelixis reported second quarter 2026 total revenues of $628.7 million, an increase from $568.3 million in the prior year's comparable period, driven by a rise in net product revenues to $573.0 million. The company also saw an increase in collaboration revenues to $55.7 million. GAAP diluted EPS was $0.82, up from $0.65 year-over-year, while non-GAAP diluted EPS was $0.91, up from $0.75. Research and development expenses increased to $212.0 million. The company updated its full-year 2026 total revenues guidance to $2.500 billion - $2.550 billion.
Key Highlights
- 1
Total revenues for the second quarter of 2026 were $628.7 million, an increase from $568.3 million in the comparable period of 2025.
- 2
Net product revenues for the quarter reached $573.0 million, up from $520.0 million in the second quarter of 2025, primarily due to increased sales volume.
- 3
Collaboration revenues increased to $55.7 million in Q2 2026 from $48.2 million in Q2 2025, driven by higher royalty revenues from international cabozantinib sales.
- 4
GAAP diluted earnings per share (EPS) for Q2 2026 was $0.82, compared to $0.65 in Q2 2025.
- 5
Non-GAAP diluted EPS for Q2 2026 was $0.91, an increase from $0.75 in the comparable period of 2025.
- 6
Research and development expenses for Q2 2026 were $212.0 million, up from $200.4 million in Q2 2025, due to increased clinical trial and manufacturing costs.
- 7
Exelixis updated its full-year 2026 total revenues guidance to a range of $2.500 billion to $2.550 billion.
Management Comments
Michael M. Morrissey
Exelixis continues to execute across the key pillars of our business, positioning the company to deliver on our strategic objectives for 2026 and beyond. For zanzalintinib, our next potential franchise molecule, the R&D organization is executing on our priority goals for pivotal data readouts, clinical trial enrollment and new study initiations, while also laying the foundation for the next wave of development opportunities. Additionally, in the second quarter, we saw the continued growth of the cabozantinib franchise while advancing preparations for the potential launch of zanzalintinib in metastatic colorectal cancer, pending approval from regulatory authorities later this year. We are executing on all these initiatives while maintaining disciplined expense management and capital allocation, with a focus on simultaneously investing in R&D and returning capital to shareholders, as well as pursuing opportunistic business development when appropriate.
Informational and educational content only. Not investment advice.