NASDAQ$EXEL
Exelixis Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Exelixis reported strong Q3 2023 financial results, driven by the CABOMETYX® commercial franchise, and provided a corporate update.
Exelixis announced strong Q3 2023 financial results with total revenues of $471.9 million, compared to $411.7 million for the comparable period in 2022. Net product revenues were $426.5 million, an increase from $366.5 million in the same period of the prior year. GAAP net income was $1.0 million, or $0.00 per share, while non-GAAP net income was $32.1 million, or $0.10 per share.
- Total revenues for Q3 2023 were $471.9 million, compared to $411.7 million for the comparable period in 2022.
- Net product revenues for Q3 2023 were $426.5 million, compared to $366.5 million for the comparable period in 2022.
- GAAP net income for Q3 2023 was $1.0 million, or $0.00 per share, compared to $73.2 million, or $0.23 per share for the comparable period in 2022.
- Non-GAAP net income for Q3 2023 was $32.1 million, or $0.10 per share, compared to $102.0 million, or $0.32 per share for the comparable period in 2022.
Headline financials
Revenue & EPS history
Exelixis · Revenue · Quarterly
$472M
Revenue by segment
Exelixis · $469M total across 3 segments · Q3 2023
- CABOMETYX Net Product Revenue$422M+16.8%90.0%
- Collaboration Revenues$42.4M+23.2%9.0%
- COMETRIQ Net Product Revenue$4.3M-15.7%0.9%
Forward guidance
Exelixis is providing the following updated financial guidance for fiscal year 2023:
Tailwinds
- Total revenues $1.825 billion - $1.850 billion
- Net product revenues $1.625 billion - $1.650 billion
- Cost of goods sold4.0% - 5.0% of net product revenues
- Research and development expenses (1)$1.050 billion - $1.075 billion
- Selling, general and administrative expenses (2)$525 million - $550 million
Headwinds
- Effective tax rate20% - 22%
- Total revenues $1.825 billion - $1.850 billion
- Net product revenues $1.625 billion - $1.650 billion
- Research and development expenses (1) $1.050 billion - $1.075 billion
- Selling, general and administrative expenses (2) $525 million - $550 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.5%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+3.6%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+25.5%
Q3 2018
Best reaction
-12.0%
Q4 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.7% | +11.9% | +18.6% | |
| Q4 2025 | -0.1% | +2.2% | -4.0% | |
| Q3 2025 | +6.5% | +9.3% | +17.0% | |
| Q1 2025 | +20.7% | +20.9% | +12.6% | |
| Q4 2024 | -0.0% | +6.7% | +11.7% | |
| Q3 2024 | +13.8% | +19.7% | +26.1% | |
| Q2 2024 | +12.8% | +14.7% | +8.7% | |
| Q1 2024 | -7.6% | -7.7% | -12.4% | |
| Q4 2023 | -5.7% | -5.5% | +3.2% | |
| Q3 2023 | -2.2% | +1.2% | +6.6% | |
| Q2 2023 | +3.2% | +2.8% | +13.6% | |
| Q1 2023 | +1.8% | +0.8% | +1.7% | |
| Q4 2022 | +2.8% | +1.6% | -3.5% | |
| Q3 2022 | +2.6% | -0.7% | +2.8% | |
| Q2 2022 | -9.5% | -9.6% | -17.4% | |
| Q1 2022 | +2.6% | +3.8% | -2.4% | |
| Q4 2021 | +2.5% | +2.7% | +12.1% | |
| Q3 2021 | -11.3% | -10.8% | -24.1% | |
| Q2 2021 | +2.7% | +2.5% | +17.7% | |
| Q1 2021 | +4.8% | +3.0% | -6.7% | |
| Q4 2020 | -3.8% | -4.5% | +1.4% | |
| Q3 2020 | -8.3% | -6.0% | -16.0% | |
| Q2 2020 | -3.0% | -6.0% | -10.3% | |
| Q1 2020 | +2.2% | +1.4% | -11.9% | |
| Q4 2019 | -7.4% | -7.9% | -14.4% | |
| Q3 2019 | -8.8% | -5.0% | -1.8% | |
| Q2 2019 | -3.8% | -6.7% | -6.4% | |
| Q1 2019 | +2.7% | +5.0% | -0.4% | |
| Q4 2018 | +5.1% | +6.1% | +18.0% | |
| Q3 2018 | +25.5% | +22.3% | +46.4% | |
| Q2 2018 | +8.2% | +1.2% | -9.2% | |
| Q1 2018 | +5.8% | +5.8% | -2.0% | |
| Q4 2017 | -8.1% | -18.4% | -24.2% | |
| Q3 2017 | +2.9% | +10.4% | +13.4% | |
| Q2 2017 | -2.9% | +0.8% | +9.5% | |
| Q1 2017 | +3.4% | -3.2% | -16.5% | |
| Q4 2016 | -0.7% | +6.4% | -2.6% | |
| Q3 2016 | +10.2% | +15.4% | +60.7% | |
| Q2 2016 | +21.0% | +19.5% | +26.1% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | -0.5% | — | — | |
| Q3 2015 | -5.9% | — | — | |
| Q2 2015 | -2.2% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | -2.2% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | -1.9% | — | — | |
| Q1 2014 | -6.2% | — | — | |
| Q4 2013 | -2.2% | — | — | |
| Q3 2013 | -7.6% | — | — | |
| Q2 2013 | -4.4% | — | — | |
| Q1 2013 | +6.3% | — | — | |
| Q4 2012 | -6.6% | — | — | |
| Q3 2012 | -6.1% | — | — | |
| Q2 2012 | -7.5% | — | — | |
| Q1 2012 | -3.8% | — | — | |
| Q1 2011 | -3.8% | — | — | |
| Q4 2011 | +2.5% | — | — | |
| Q4 2009 | +2.5% | — | — | |
| Q3 2011 | +3.8% | — | — | |
| Q3 2010 | +3.8% | — | — | |
| Q2 2011 | -12.0% | — | — | |
| Q4 2010 | -12.0% | — | — | |
| Q2 2010 | -5.2% | — | — | |
| Q1 2010 | +17.9% | — | — |
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