Exelixis Q4 EPS 27% Above Estimates; $264.5M Buyback, $2.52–2.62B 2026 Guide
Exelixis reported Q4 EPS of $0.94, 27% above consensus and 95% higher YoY, while revenue of $598.7M missed forecasts by $10.5M but rose 5% YoY. The company repurchased $264.5M of stock and forecasts 2026 revenue of $2.52–2.62B, excluding potential zanzalintinib sales.
1. Q4 Earnings and Revenue
Exelixis posted EPS of $0.94, 27% above consensus and up 95% year-over-year, while Q4 revenue reached $598.7 million, a 5% increase over last year but $10.5 million below analyst forecasts, driven primarily by Cabometyx oncology sales.
2. Stock Buyback and Guidance
The company repurchased $264.5 million of its own shares during the quarter and projected full-year 2026 revenue between $2.52 billion and $2.62 billion, excluding any contribution from zanzalintinib pending regulatory approval.
3. Pipeline Expansion and Franchise Strategy
Exelixis is advancing its oncology franchise model with Cabometyx as the current cash cow and zanzalintinib targeting colorectal cancer; the PDUFA date is December 3, 2026, and peak annual sales could reach $5 billion if approved.