Filing Flows › Exelixis (EXEL) › Q3 2026
Exelixis (EXEL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Exelixis (EXEL) reported revenue of $659M for the third quarter 2026 (Q3 2026), +10% from a year earlier and +5% from the quarter before. Operating margin was 40.8%, net earnings $218M (33.1% of revenue).
Exelixis, Q3 2026: revenue $659M (+10% year over year), operating margin 40.8%, net earnings $218M, operating cash flow $280M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $659M | +5% | +10% |
| Operating profit | $268M | +8% | +13% |
| Net earnings | $218M | +3% | +13% |
| Operating cash flow | $280M | -9% | -4% |
| Free cash flow | $277M | -8% | -4% |
What changed
Revenue was $658.7M in Q3 2026, up 10% year over year and up 5% from the previous quarter. Net product revenues was the largest line at 92% of revenue. Net product revenues added $62.0M year over year (up 11%), 102% of the total change. COMETRIQ declined 42%.
Operating profit was $268.4M, a 40.8% margin (up 1.2 points year over year). Of the extra revenue versus Q3 2025, 52% reached operating profit, above the 40% margin then. Total costs grew 8% against revenue growth of 10%. The fastest-growing cost line was Cost of revenue (+41%). Net earnings were $218.1M, up 13% year over year. The effective tax rate was 22.9%.
Operating cash flow was $280.0M (down 4% year over year), 128% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $28.7M of share-based compensation. Working capital and other items added $26.2M. Capital expenditures of $2.5M left free cash flow of $277.5M.
Questions
What was Exelixis' revenue in the third quarter 2026?
Exelixis (EXEL) reported revenue of $659M for the third quarter 2026 (Q3 2026), +10% from a year earlier and +5% from the quarter before.
Was Exelixis profitable in the third quarter 2026?
Operating profit was $268M (40.8% of revenue) and net earnings $218M.
Source: Exelixis 10-Q on SEC EDGAR.