Filing Flows › Exelixis (EXEL) › Q3 2026 › vs Q2 2026
Exelixis (EXEL) Q3 2026 vs Q2 2026 (quarter over quarter)
Exelixis's revenue rose $30.0M (+5%) from $629M in Q2 2026 to $659M in Q3 2026. The biggest changes: Net product revenues +$31.9M (+6%); Collaboration −$1.9M (-3%); COMETRIQ −$607K (-26%). Operating margin 40.8% against 39.5% (+1.2 pts).
Exelixis, Q3 2026: revenue $659M (+10% year over year), operating margin 40.8%, net earnings $218M, operating cash flow $280M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 40.8% | 39.5% | +1.2 pts |
| Net margin | 33.1% | 33.7% | -0.6 pts |
| Free cash flow margin | 42.1% | 47.9% | -5.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Net product revenues | $605M | $573M | $31.9M | +6% |
| Collaboration | $53.8M | $55.7M | −$1.9M | -3% |
| COMETRIQ | $1.8M | $2.4M | −$607K | -26% |
| Revenue | $659M | $629M | $30.0M | +5% |
| Other income, net | $14.4M | $14.3M | $98K | +0.7% |
| Operating profit | $268M | $248M | $20.0M | +8% |
| Costs & expenses | $390M | $380M | $10.0M | +3% |
| Pre-tax earnings | $283M | $263M | $20.1M | +8% |
| Cost of revenue | $26.2M | $20.7M | $5.6M | +27% |
| Research & development | $209M | $212M | −$2.5M | -1% |
| SG&A | $155M | $148M | $6.9M | +5% |
| Net earnings | $218M | $212M | $6.0M | +3% |
| Income tax | $64.7M | $50.6M | $14.1M | +28% |
| Depreciation & amortization | $6.9M | $7.0M | −$49K | -0.7% |
| Share-based compensation | $28.7M | $32.6M | −$3.8M | -12% |
| Working capital & other | $26.2M | $56.1M | −$29.9M | -53% |
| Operating cash flow | $280M | $308M | −$27.8M | -9% |
| Free cash flow (OCF − capex) | $277M | $301M | −$23.5M | -8% |
| Capital expenditures | $2.5M | $6.8M | −$4.3M | -63% |
Questions
How much did Exelixis's revenue grow quarter over quarter in Q3 2026?
Exelixis's revenue rose $30.0M (+5%) from $629M in Q2 2026 to $659M in Q3 2026.
What drove Exelixis's revenue change in Q3 2026?
Net product revenues +$31.9M (+6%); Collaboration −$1.9M (-3%); COMETRIQ −$607K (-26%).