EXEL FY 2023 Earnings Report — Exelixis, Inc. Revenue & Financial Results | Market Cap Arena

Exelixis, Inc.EXEL

FY 2023 Earnings

Reported February 6, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.6B	—	13.6%
Op. Income	$171M	—	$201M	—	-15.2%
Gross Margin	96.0%	—	96.4%	—	-0.4pp
Net Margin	11.4%	—	11.3%	—	0.0pp
EPS (Diluted)	$0.65	—	$0.56	—	16.1%
Free Cash Flow	$170M	—	$224M	—	-24.0%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$73M
GROSS PROFIT	$1.8B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$543M
SG&A Expenses	$543M
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$1.7B
OPERATING INCOME	$171M
Interest Income	$87M
Interest Expense	$0
Other Income/Expenses	$87M
INCOME BEFORE TAX	$258M
Income Tax Expense	$50M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$26M
EBIT	$171M
EBITDA	$197M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$73M
GROSS PROFIT	$1.8B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$543M
SG&A Expenses	$543M
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$1.7B
OPERATING INCOME	$171M
Interest Income	$87M
Interest Expense	$0
Other Income/Expenses	$87M
INCOME BEFORE TAX	$258M
Income Tax Expense	$50M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$26M
EBIT	$171M
EBITDA	$197M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$208M
Depreciation & Amortization	$26M
Stock-Based Compensation	$106M
Deferred Income Tax	-$133M
Other Non-Cash Items	$141M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$333M
Capital Expenditure	-$163M
Acquisitions (Net)	$0
Purchases of Investments	-$902M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$123M
NET CASH FROM INVESTING	-$27M
Net Debt Issuance	$0
Common Stock Repurchased	-$550M
Common Dividends Paid	$0
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$546M
FREE CASH FLOW	$170M
Net Change in Cash	-$240M

Balance Sheet

Item	Amount
Cash & Equivalents	$263M
Short-Term Investments	$732M
Net Receivables	$237M
Inventory	$17M
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$471M
Goodwill	$64M
Intangible Assets	$0
Long-Term Investments	$729M
Tax Assets	$361M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$2.9B
Account Payables	$34M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$82M
TOTAL CURRENT LIABILITIES	$394M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$94M
TOTAL NON-CURRENT LIABILITIES	$284M
TOTAL LIABILITIES	$678M
Common Stock	$303.0K
Additional Paid-In Capital	$2.4B
Retained Earnings	-$173M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$190M
Net Debt	-$73M