Filing Flows › Exelixis (EXEL) › Q2 2026
Exelixis (EXEL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Exelixis (EXEL) reported revenue of $629M for the second quarter 2026 (Q2 2026), +11% from a year earlier and +3% from the quarter before. Operating margin was 39.5%, net earnings $212M (33.7% of revenue).
Exelixis, Q2 2026: revenue $629M (+11% year over year), operating margin 39.5%, net earnings $212M, operating cash flow $308M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $629M | +3% | +11% |
| Operating profit | $248M | -1% | +16% |
| Net earnings | $212M | +0.8% | +15% |
| Operating cash flow | $308M | +22% | +528% |
| Free cash flow | $301M | +20% | +552% |
What changed
Revenue was $628.7M in Q2 2026, up 11% year over year and up 3% from the previous quarter. Net product revenues was the largest line at 91% of revenue. Net product revenues added $53.0M year over year (up 10%), 88% of the total change.
Operating profit was $248.4M, a 39.5% margin (up 1.9 points year over year). Of the extra revenue versus Q2 2025, 58% reached operating profit, above the 38% margin then. Total costs grew 7% against revenue growth of 11%. Net earnings were $212.1M, up 15% year over year. The effective tax rate was 19.3%.
Operating cash flow was $307.7M (up 528% year over year), 145% of net earnings. Non-cash charges added back $7.0M of depreciation and amortization and $32.6M of share-based compensation. Working capital and other items added $56.1M. Capital expenditures of $6.8M left free cash flow of $300.9M.
Questions
What was Exelixis' revenue in the second quarter 2026?
Exelixis (EXEL) reported revenue of $629M for the second quarter 2026 (Q2 2026), +11% from a year earlier and +3% from the quarter before.
Was Exelixis profitable in the second quarter 2026?
Operating profit was $248M (39.5% of revenue) and net earnings $212M.
Source: Exelixis 10-Q on SEC EDGAR.