Exelixis Q4 Revenue Climbs 5.6% to $598.7M, EPS Beats by 22.3%
Exelixis posted Q4 revenue of $598.7M, up 5.6% year-over-year and 2.4% above estimates, driven by net product sales of $546.6M (+6.1%) and collaboration revenues of $52.1M (+2,289%). EPS rose to $0.94, 22.3% above forecasts, powered by CABOMETYX sales of $544.7M (+6.2%) despite COMETRIQ revenue falling 25.6% to $1.8M.
1. Q4 Financial Results
Exelixis recorded Q4 revenue of $598.66 million, a 5.6% increase year-over-year and 2.39% above the $584.68 million estimate, while EPS rose to $0.94 from $0.55 a year ago, beating the $0.77 consensus by 22.25%.
2. Revenue Breakdown
Net product revenues reached $546.58 million, 6.1% higher than a year ago and above the $529.04 million estimate, while collaboration revenues surged to $52.09 million, a 2,289% jump over the prior year and exceeding the $49.91 million consensus.
3. Product Performance
CABOMETYX generated $544.7 million in sales, up 6.2% year-over-year though slightly below the $554.08 million projection, whereas COMETRIQ revenue declined 25.6% to $1.8 million, missing the $3.15 million estimate from analysts.
4. Market Reaction and Outlook
Shares have been largely flat, returning –0.3% over the past month compared to a flat broader market, and the stock carries a Zacks Rank #2 (Buy), indicating potential near-term outperformance.