EXEL FY 2025 Earnings Report — Exelixis, Inc. Revenue & Financial Results | Market Cap Arena

Exelixis, Inc.EXEL

FY 2025 Earnings

Reported February 10, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.2B	—	7.0%
Op. Income	$872M	—	$605M	—	44.3%
Gross Margin	96.4%	—	96.5%	—	-0.1pp
Net Margin	33.7%	—	24.0%	—	9.7pp
EPS (Diluted)	$2.78	—	$1.76	—	58.0%
Free Cash Flow	$844M	—	$634M	—	33.2%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$84M
GROSS PROFIT	$2.2B
R&D Expenses	$825M
Selling & Marketing	$52M
General & Administrative	$467M
SG&A Expenses	$519M
Other Expenses	$21M
Operating Expenses	$1.4B
Cost & Expenses	$1.4B
OPERATING INCOME	$872M
Interest Income	$69M
Interest Expense	$0
Other Income/Expenses	$69M
INCOME BEFORE TAX	$941M
Income Tax Expense	$159M
Net Income from Continuing Ops	$783M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$783M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$783M
D&A	$29M
EBIT	$893M
EBITDA	$922M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$84M
GROSS PROFIT	$2.2B
R&D Expenses	$825M
Selling & Marketing	$52M
General & Administrative	$467M
SG&A Expenses	$519M
Other Expenses	$21M
Operating Expenses	$1.4B
Cost & Expenses	$1.4B
OPERATING INCOME	$872M
Interest Income	$69M
Interest Expense	$0
Other Income/Expenses	$69M
INCOME BEFORE TAX	$941M
Income Tax Expense	$159M
Net Income from Continuing Ops	$783M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$783M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$783M
D&A	$29M
EBIT	$893M
EBITDA	$922M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$783M
Depreciation & Amortization	$29M
Stock-Based Compensation	$113M
Deferred Income Tax	$126M
Other Non-Cash Items	$25M
Change in Working Capital	-$191M
OPERATING CASH FLOW	$884M
Capital Expenditure	-$40M
Acquisitions (Net)	$0
Purchases of Investments	-$611M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$62M
NET CASH FROM INVESTING	$350M
Net Debt Issuance	$0
Common Stock Repurchased	-$948M
Common Dividends Paid	$0
Other Financing Activities	-$71M
NET CASH FROM FINANCING	-$970M
FREE CASH FLOW	$844M
Net Change in Cash	$265M

Balance Sheet

Item	Amount
Cash & Equivalents	$482M
Short-Term Investments	$577M
Net Receivables	$287M
Inventory	$22M
Other Current Assets	$76M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$441M
Goodwill	$64M
Intangible Assets	$0
Long-Term Investments	$604M
Tax Assets	$293M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.8B
Account Payables	$30M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$287M
TOTAL CURRENT LIABILITIES	$406M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$104M
TOTAL NON-CURRENT LIABILITIES	$277M
TOTAL LIABILITIES	$683M
Common Stock	$262.0K
Additional Paid-In Capital	$2.2B
Retained Earnings	-$77M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$2.8B
Total Debt	$173M
Net Debt	-$309M