10-K · March 2, 2026
Xeris reported strong Q4 2025 performance with revenue of $85.8M and EPS of $0.06, beating consensus (est. $84.17M / $0.04). Margins and free cash flow expanded meaningfully in Q4 (gross margin 87.2%, operating margin…
Earnings analysis · 10-Q
XERS earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Xeris Biopharma reported strong Q1 2026 results with total revenue of $83.1 million and a diluted EPS of $0.01, exceeding analysts' expectations. Significant growth was driven primarily by Recorlev, along with a notable…
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Xeris Biopharma reported strong Q1 2026 results with total revenue of $83.1 million and a diluted EPS of $0.01, exceeding analysts' expectations. Significant growth was driven primarily by Recorlev, along with a notable increase in overall product sales, leading to a substantial shift from a loss in the prior year. Management has raised its full-year revenue guidance, indicating confidence in continued growth.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.01
- Segment
- Recorlev
- Segment
- Gvoke
- Segment
- Keveyis
What stood out
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Q1 Revenue Increased 38.3% YoY
Total revenue reached $83.1 million, an increase of $23.0 million compared to $60.1 million in Q1 2025.
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EPS Turned Positive
Reported diluted EPS of $0.01, a significant improvement from a loss of $0.06 in Q1 2025.
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Recorlev Revenue Surge
Recorlev revenue grew by 94.9% to $49.8 million, up from $25.5 million in the prior year.
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Cash Flow Positive from Operations
Operating cash flow was $9.9 million, compared to a cash outflow of $10.0 million in Q1 2025.
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R&D Expenses Up 13.3%
R&D expenses increased to $8.8 million from $7.8 million in the prior year, reflecting ongoing investment in pipeline products.
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Management Raises Revenue Guidance
Full-year revenue guidance increased to $380-$390 million, up from previous estimates.
What to watch
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Rising SG&A Expenses
SG&A expenses increased to $53.1 million from $44.0 million, a 20.7% increase, which could pressure margins.
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Dependence on a Few Key Products
Continued reliance on Recorlev for revenue growth could be risky amid competitive pressures.
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Potential Legal Challenges
New patent infringement lawsuits filed against major competitors could lead to uncertainties regarding market share.
Management's outlook
Management raised full-year revenue guidance to $380-$390 million, reflecting ongoing growth from product performance.
Earlier filings 4
10-Q · August 7, 2025
Xeris reported Q2 revenue of $71.539M, a 48.8% increase from $48.065M in Q2 2024, driven by Recorlev and royalty/contract revenue. The company moved to operating income of $4.482M (6.3% operating margin) versus an…
10-Q · August 8, 2024
Xeris reported Q2 total revenue of $48,065 (in thousands), up from $40,638 in Q1 (derived) and $38,008 in Q2 2023, with product revenue of $46,512 (in thousands). Gross margin remained high (~83.8% based on $48,065…
10-Q · May 9, 2024
Xeris reported Q1 revenue of $40.638M, up from $33.196M a year ago (+22.4%), driven by Recorlev growth, but reported a larger net loss of $18.98M (EPS -$0.14) versus $16.83M (EPS -$0.12) in Q1 2023. Gross margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.