Filing Flows › Exelixis (EXEL) › Q1 2025
Exelixis (EXEL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Exelixis (EXEL) reported revenue of $555M for the first quarter 2025 (Q1 2025), +31% from a year earlier and -2% from the quarter before. Operating margin was 33.6%, net earnings $160M (28.7% of revenue).
Exelixis, Q1 2025: revenue $555M (+31% year over year), operating margin 33.6%, net earnings $160M, operating cash flow $211M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $555M | -2% | +31% |
| Operating profit | $187M | +14% | +534% |
| Net earnings | $160M | +14% | +328% |
| Operating cash flow | $211M | -12% | +207% |
| Free cash flow | $208M | -12% | +253% |
What changed
Revenue was $555.4M in Q1 2025, up 31% year over year and down 2% from the previous quarter. CABOMETYX was the largest line at 92% of revenue. CABOMETYX added $134.5M year over year (up 36%), 103% of the total change. License revenues declined 5%.
Operating profit was $186.9M, a 33.6% margin (up 26.7 points year over year). Of the extra revenue versus a year earlier, 121% reached operating profit, above the 7% margin then. Total costs fell 7% while revenue rose 31%. The fastest-growing cost line was SG&A (+20%). Net earnings were $159.6M, up 328% year over year. The effective tax rate was 22.4%.
Operating cash flow was $211.4M (up 207% year over year), 132% of net earnings. Non-cash charges added back $7.3M of depreciation and amortization and $25.9M of share-based compensation. Working capital and other items added $18.5M. Capital expenditures of $3.0M left free cash flow of $208.5M.
Questions
What was Exelixis' revenue in the first quarter 2025?
Exelixis (EXEL) reported revenue of $555M for the first quarter 2025 (Q1 2025), +31% from a year earlier and -2% from the quarter before.
Was Exelixis profitable in the first quarter 2025?
Operating profit was $187M (33.6% of revenue) and net earnings $160M.
Source: Exelixis 10-Q on SEC EDGAR.