Xeris Biopharma Holdings Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 44% to $292 million in 2025, with RECORLEV driving growth and a strong pipeline led by XP-8121 entering phase III. Investments in commercial expansion and R&D are expected to sustain momentum, while robust IP and a strengthened balance sheet support long-term targets.
Fiscal Year 2025
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Achieved record revenue and first full-year net income in 2025, driven by strong growth across all products and disciplined execution. 2026 guidance projects over 30% revenue growth, with major investments in pipeline and commercial expansion, while maintaining positive Adjusted EBITDA.
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Significant revenue growth and profitability have enabled reinvestment in commercial expansion, especially for Recorlev, which is positioned as a key growth driver with robust IP protection. Gvoke and Keveyis maintain stable performance, while pipeline asset XP-8121 targets a large unmet need. Commercial infrastructure is highly leverageable for future launches.
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Q3 saw record revenue growth of 40% year-over-year, with Recorlev leading at 109% growth and the company achieving its first-ever net income. Full-year guidance was raised, and major commercial expansion and pipeline progress position the business for continued strong growth.
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Strong revenue growth and high margins enable self-funded expansion, with Recorlev® and XP8121 as top priorities. Recorlev® targets a billion-dollar market, while XP8121 addresses a large unmet need with a phase 3 trial planned. Commercial scaling and innovation drive long-term growth.
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Q2 revenue grew 49% year-over-year to a record $71.5 million, driven by strong demand for all products, especially Recorlev. Full-year 2025 revenue guidance was raised to $280–$290 million, with continued investment in commercial expansion and pipeline assets.
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Strong commercial growth is driven by Recorlev, with ambitious long-term revenue targets and a robust pipeline. Gvoke and Keveyis support near-term growth, while XP-8121 targets a large unmet need in hypothyroidism, aiming for approval by 2030.
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Management outlined a strategy for accelerated growth, targeting $750M revenue by 2030 and multi-billion dollar status by 2035, led by Recorlev and XP-8121. Recorlev is positioned for $1B in annual sales, while XP-8121 aims to address a large unmet need in hypothyroidism with a pivotal study starting in 2026.
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Q1 revenue surged 48% year-over-year, led by Recorlev's 141% growth and strong Gvoke and Keveyis performance. Full-year revenue guidance was raised, gross margin improved to 85%, and Adjusted EBITDA turned positive. FDA approval and a new partnership for Gvoke Vial DX further strengthened the outlook.
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Strong commercial growth is expected across all products, with over 30% revenue growth guided and a focus on financial discipline. Pipeline advancement, especially XP-8121, and technology platforms support long-term value, while a robust balance sheet enables continued investment.
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Gvoke and Recorlev are driving strong revenue growth, supported by expanded sales efforts and innovative technology. XP-8121, a once-weekly injectable levothyroxine, targets a significant unmet need, with regulatory updates expected mid-year. Financials are robust, with over $200M in 2024 revenue and profitability anticipated in 2025.
Fiscal Year 2024
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Revenue grew 24% to $203.1M in 2024, led by Recorlev and Gvoke, with adjusted EBITDA turning positive in Q4. 2025 guidance targets $255–$275M revenue and sustained profitability, driven by continued product momentum and disciplined expense management.
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Three commercial products drive robust growth, with Recorlev and Gvoke expanding through increased awareness and market penetration. XP-8121 targets a large unmet need in hypothyroidism, and profitability is expected soon, supported by strong cash and margin positions.
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Record Q3 revenue and product growth driven by Recorlev and Gvoke, with raised 2024 guidance and strong cash position. Pipeline progress continues with XP-8121, while Keveyis remains resilient despite generic pressure.
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Management is focused on sustaining double-digit growth, prudent cash use, and reaching breakeven by 2025. Commercial products are outperforming, with Recorlev and Gvoke driving growth, while pipeline and partnerships offer additional upside.
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Q2 revenue grew 26% year-over-year, driven by strong demand for all three products and robust market expansion. Full-year revenue guidance was raised to $190–200 million, with continued growth expected for Recorlev and Gvoke, and Keveyis showing resilience despite generic competition.
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Strong Q1 revenue growth led to raised annual guidance, with momentum expected to continue. Platform technologies are driving partnerships and product innovation, while Gvoke, Keveyis, and Recorlev show robust performance. Pipeline advances and sales force expansion support future growth.