S&P 500
7,516.60
+0.45%
Dow Jones
52,923.60
+0.01%
Nasdaq 100
29,706.80
+1.19%
Russell 2000
3,007.21
+0.49%
FTSE 100
10,654.20
-0.33%
Nikkei 225
69,824.80
+2.22%
Exelixis

Exelixis (EXEL) Q2 2025 Earnings

Reported Jul 28, 2025 at 4:09 PM ET · SEC Source

Q2 25 EPS

$0.75

BEAT +15.38%

Est. $0.65

Q2 25 Revenue

$568.3M

MISS 1.93%

Est. $579.5M

vs S&P Since Q2 25

+26.9%

BEATING MARKET

EXEL +44.1% vs S&P +17.2%

Market Reaction

Did EXEL Beat Earnings? Q2 2025 Results

Exelixis delivered a split verdict in its second quarter of 2025, posting a non-GAAP earnings beat that was undercut by a revenue shortfall, leaving investors to weigh a complicated set of results. The company earned $0.75 per diluted share on a non-… Read more Exelixis delivered a split verdict in its second quarter of 2025, posting a non-GAAP earnings beat that was undercut by a revenue shortfall, leaving investors to weigh a complicated set of results. The company earned $0.75 per diluted share on a non-GAAP basis, clearing the $0.64 consensus estimate by 16.53%, yet revenue of $568.26 million fell just short of the $579.47 million Wall Street had expected and declined 10.8% from the year-ago period. The revenue drop was largely a math problem from 2024: a $150 million commercial milestone from Ipsen that boosted collaboration revenues a year ago simply did not repeat, masking what was otherwise solid underlying momentum, as net product revenues climbed to $520.01 million from $437.58 million. A positive phase 3 outcome for zanzalintinib in colorectal cancer added a pipeline catalyst, though the decision to abandon STELLAR-305 in head and neck cancer contributed to a sharp post-earnings stock selloff. Exelixis maintained its full-year 2025 guidance, targeting total revenues of $2.25 billion to $2.35 billion.

Key Takeaways

  • • Increased CABOMETYX sales volume driving net product revenue growth
  • • Successful early U.S. launch of CABOMETYX in advanced neuroendocrine tumors (NET) representing ~4% of CABOMETYX business
  • • Lower weighted-average diluted shares outstanding from stock repurchase programs favorably impacting EPS
  • • Decrease in collaboration revenues due to non-recurrence of $150 million Ipsen milestone from Q2 2024
24/7 Wall St

EXEL YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

EXEL Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“While early in the launch, we're very pleased with the reception that CABOMETYX has received in advanced neuroendocrine tumors (NET). Our commercial team rapidly mobilized on the U.S. NET launch following approval in March, capturing a leading share of new patient starts among oral therapies in second-line and later settings with NET representing approximately four percent of our overall CABOMETYX business in the second quarter. We will continue to track the launch trajectory and provide updates to our 2025 full year financial guidance, as appropriate.”

— Michael M. Morrissey, Q2 2025 Earnings Press Release

Back to EXEL Stock Page