Filing Flows › Exelixis (EXEL) › Q3 2026 › vs Q3 2025
Exelixis (EXEL) Q3 2026 vs Q3 2025 (year over year)
Exelixis's revenue rose $60.9M (+10%) from $598M in Q3 2025 to $659M in Q3 2026. The biggest changes: Net product revenues +$62.0M (+11%); COMETRIQ −$1.3M (-42%); Collaboration −$1.1M (-2%). Operating margin 40.8% against 39.6% (+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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 40.8% | 39.6% | +1.2 pts |
| Net margin | 33.1% | 32.4% | +0.7 pts |
| Free cash flow margin | 42.1% | 48.3% | -6.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Net product revenues | $605M | $543M | $62.0M | +11% |
| Collaboration | $53.8M | $54.8M | −$1.1M | -2% |
| COMETRIQ | $1.8M | $3.1M | −$1.3M | -42% |
| Revenue | $659M | $598M | $60.9M | +10% |
| Other income, net | $14.4M | $15.9M | −$1.5M | -10% |
| Operating profit | $268M | $237M | $31.9M | +13% |
| Costs & expenses | $390M | $361M | $29.1M | +8% |
| Pre-tax earnings | $283M | $252M | $30.4M | +12% |
| Cost of revenue | $26.2M | $18.6M | $7.7M | +41% |
| Research & development | $209M | $199M | $10.3M | +5% |
| SG&A | $155M | $124M | $30.9M | +25% |
| Net earnings | $218M | $194M | $24.5M | +13% |
| Income tax | $64.7M | $58.8M | $5.9M | +10% |
| Depreciation & amortization | $6.9M | $7.4M | −$487K | -7% |
| Share-based compensation | $28.7M | $30.9M | −$2.2M | -7% |
| Working capital & other | $26.2M | $58.4M | −$32.2M | -55% |
| Operating cash flow | $280M | $290M | −$10.4M | -4% |
| Free cash flow (OCF − capex) | $277M | $289M | −$11.4M | -4% |
| Capital expenditures | $2.5M | $1.5M | $1.0M | +68% |
Questions
How much did Exelixis's revenue grow year over year in Q3 2026?
Exelixis's revenue rose $60.9M (+10%) from $598M in Q3 2025 to $659M in Q3 2026.
What drove Exelixis's revenue change in Q3 2026?
Net product revenues +$62.0M (+11%); COMETRIQ −$1.3M (-42%); Collaboration −$1.1M (-2%).