| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 83.13 | 38.3% |
| Total Income | 83.13 | 38.3% |
| Expenditure | 75.21 | 19.0% |
| PBT | — | |
| Net Profit | 2.23 | 124.2% |
| OPM | 9.52% | 14.66pp |
| NPM | 2.69% | 18.02pp |
| EPS | 0.01 | 116.7% |
Xeris Biopharma Reports Q1 2026: Product Revenue Up 43% YoY
07 May 2026 · 7 May, 4:51 pm
Summary
Xeris Biopharma Holdings, Inc. reported a strong start to 2026, with first quarter net product revenue growth of 43%. Recorlev was a standout performer, with net revenue nearly doubling year-over-year. The company has tightened its full-year 2026 total revenue guidance to $380 million to $390 million, representing more than 30% growth at the midpoint. Xeris anticipates the Phase 3 initiation of XP-8121 later in the year, marking a significant value creation inflection point.
Key Highlights
- 1
Total product revenue increased 43% year-over-year to over $82 million for the first quarter of 2026.
- 2
Recorlev net revenue increased 95% year-over-year to $50 million in Q1 2026.
- 3
Gvoke net revenue was $20.8 million, remaining flat compared to the first quarter of 2025.
- 4
Keveyis net revenue increased approximately 4% to $11.9 million compared to the first quarter of 2025.
- 5
Gross margin improved to 87% in the first quarter of 2026, up from 85% in the same period last year.
- 6
Net income for the first quarter was $2.2 million, compared to a net loss of $9.2 million in the same period last year.
- 7
Adjusted EBITDA for the first quarter was $15.1 million, an improvement of $10.7 million compared to the same period last year.
Management Comments
John Shannon
"We are thrilled with our outstanding start to 2026, delivering first quarter net product revenue growth of 43%, reflecting the successful execution of our strategy." "Recorlev was the standout performer, with net revenue nearly doubling year-over-year, driven by growth across our patient base and increased awareness across the prescriber base. Also in the quarter, we successfully completed the expansion of our commercial team, and we expect the impact of these targeted investments to become more evident in the second half of 2026 and beyond." "Looking ahead, we remain confident in our ability to deliver on our full-year financial targets. Recorlev's strong Q1 and continued momentum gives us the confidence to raise the bottom end of our full year 2026 total revenue guidance. Our updated guidance of $380 million to $390 million represents more than 30% growth at the midpoint. Beyond our commercial execution, 2026 represents a pivotal year for our pipeline, with the anticipated Phase 3 initiation of XP-8121 later in the year marking a significant value creation inflection point. Our strong financial foundation enables us to advance these strategic priorities while creating sustainable long-term value for shareholders."
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