Exelixis (EXEL) Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Exelixis delivered a notably strong earnings beat in Q4 2025, with non-GAAP diluted EPS of $0.94 clearing the $0.81 consensus estimate by 16.71%, even as revenue of $598.66 million came in fractionally light against the $601.10 million consensus, a m… Read more Exelixis delivered a notably strong earnings beat in Q4 2025, with non-GAAP diluted EPS of $0.94 clearing the $0.81 consensus estimate by 16.71%, even as revenue of $598.66 million came in fractionally light against the $601.10 million consensus, a miss of just 0.40%. The top line still grew 5.6% year over year, carried by net product revenues of $546.58 million as the cabozantinib franchise continued to gain volume in renal cell carcinoma and neuroendocrine tumors. The more dramatic story was on the bottom line, where GAAP net income nearly doubled to $244.53 million from $139.86 million a year ago, aided in part by a sharply lower tax provision of $8.16 million versus $44.91 million in the prior-year period. R&D expenses also declined to $213.25 million from $249.00 million, further supporting profitability. H.C. Wainwright responded by lifting its price target to $54, maintaining a Buy rating. Looking ahead, Exelixis guided for 2026 total revenues of $2.53 billion to $2.63 billion, with potential upside excluded from zanzalintinib's pending U.S. Regulatory decision, targeted for December 3, 2026.