LXRX

MKT CAP:$708M

Lexicon Pharmaceuticals, Inc.

Market Cap

$708M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.68+$0.54 (+47.37%)

Apr 23, 2026

Company Details

Lexicon Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozi...

CEO

Michael S. Exton

IPO Date

Apr 7, 2000

Website

www.lexpharma.com

Key Metrics TTM

Revenue

$50M

+60.2% YoY

Net Income

-$50M

EPS (Diluted)

-$0.14

Free Cash Flow

-$68M

Revenue / Share

$0.14

Gross Margin

98.9%

Operating Margin

-98.2%

Net Margin

-101.1%

FCF Margin

-136.2%

P/S

14.2x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 5, 2026

$50M+60.2%EPS -$0.14

Q4 2025

Mar 5, 2026

$5M-79.3%EPS -$0.04

Q3 2025

Nov 6, 2025

$14M+710.4%EPS -$0.04

Q2 2025

Aug 6, 2025

$29M+1652.6%EPS $0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$37.0K	-$72.0K	-$23M
Q2 22	$35.0K	$35.0K	-$24M
Q3 22	$39.0K	$39.0K	-$23M
Q4 22	$28.0K	-$75.0K	-$30M
Q1 23	$24.0K	$24.0K	-$31M
Q2 23	$317.0K	$309.0K	-$44M
Q3 23	$162.0K	$155.0K	-$50M
Q4 23	$702.0K	-$14M	-$47M
Q1 24	$1M	$955.0K	-$45M
Q2 24	$2M	$1M	-$55M
Q3 24	$2M	$2M	-$64M
Q4 24	$27M	$621.0K	-$33M
Q1 25	$1M	$1M	-$26M
Q2 25	$29M	$29M	$4M
Q3 25	$14M	$14M	-$12M
Q4 25	$5M	$5M	-$15M

Valuation

Quarter	P/S	P/E
Q1 22	2297.2x	—
Q2 22	6491.3x	—
Q3 22	5660.4x	—
Q4 22	5090.3x	—
Q1 23	5615.4x	—
Q2 23	1734.2x	—
Q3 23	1332.5x	—
Q4 23	587.2x	—
Q1 24	306.2x	—
Q2 24	194.3x	—
Q3 24	135.3x	—
Q4 24	22.8x	—
Q1 25	22.7x	—
Q2 25	12.1x	—
Q3 25	10.0x	—
Q4 25	14.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$23M	-$23M
Q2 22	-$24M	-$24M
Q3 22	-$19M	-$19M
Q4 22	-$22M	-$23M
Q1 23	-$32M	-$32M
Q2 23	-$38M	-$38M
Q3 23	-$42M	-$42M
Q4 23	-$51M	-$51M
Q1 24	-$55M	-$55M
Q2 24	-$49M	-$49M
Q3 24	-$54M	-$54M
Q4 24	-$21M	-$22M
Q1 25	-$44M	-$44M
Q2 25	$17M	$17M
Q3 25	-$24M	-$24M
Q4 25	-$17M	-$17M

Capital Expenditures

Quarter	CapEx
Q1 22	$76.0K
Q2 22	$0
Q3 22	$4.0K
Q4 22	$1M
Q1 23	$248.0K
Q2 23	$139.0K
Q3 23	$83.0K
Q4 23	$0
Q1 24	$0
Q2 24	$250.0K
Q3 24	$307.0K
Q4 24	$474.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+37.0%	+12.2%
Q2 22	-85.0%	+32.1%
Q3 22	+69.6%	+0.6%
Q4 22	+100.0%	+19.6%
Q1 23	-35.1%	+33.1%
Q2 23	+805.7%	+85.3%
Q3 23	+315.4%	+115.2%
Q4 23	+2407.1%	+56.5%
Q1 24	+4608.3%	+49.1%
Q2 24	+419.6%	+27.9%
Q3 24	+980.2%	+31.4%
Q4 24	+3682.6%	+25.0%
Q1 25	+11.7%	-42.0%
Q2 25	+1652.6%	-55.9%
Q3 25	+710.4%	-59.7%
Q4 25	-79.3%	-65.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	7491.9%
Q2 22	$3M	8091.4%
Q3 22	$3M	6789.7%
Q4 22	$3M	11671.4%
Q1 23	$3M	14229.2%
Q2 23	$4M	1203.5%
Q3 23	$4M	2406.2%
Q4 23	$3M	457.5%
Q1 24	$4M	380.7%
Q2 24	$5M	295.0%
Q3 24	$3M	160.1%
Q4 24	$2M	5.8%
Q1 25	$3M	241.1%
Q2 25	$3M	11.1%
Q3 25	$0	0.0%
Q4 25	$3M	51.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$15M	—	—	$8M
Q2 22	$13M	$11M	—	—
Q3 22	$11M	$13M	—	—
Q4 22	$14M	—	—	$16M
Q1 23	$12M	$19M	—	—
Q2 23	$15M	$30M	—	—
Q3 23	$18M	$3M	$30M	—
Q4 23	$15M	—	—	—
Q1 24	$14M	$32M	—	—
Q2 24	$18M	—	—	$39M
Q3 24	$26M	—	—	$40M
Q4 24	$27M	—	—	—
Q1 25	$15M	—	—	$12M
Q2 25	$16M	—	—	$9M
Q3 25	$19M	—	—	$8M
Q4 25	$11M	—	—	$9M

Revenue Segments

Quarter	License	Product
Q2 25	$28M	$1M
Q3 25	$13M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$60M	$27M	$87M
Q2 22	$21M	$41M	$62M
Q3 22	$19M	$117M	$136M
Q4 22	$46M	$92M	$138M
Q1 23	$26M	$80M	$106M
Q2 23	$102M	$154M	$257M
Q3 23	$21M	$197M	$218M
Q4 23	$22M	$148M	$170M
Q1 24	$96M	$259M	$356M
Q2 24	$36M	$274M	$310M
Q3 24	$35M	$224M	$258M
Q4 24	$67M	$171M	$238M
Q1 25	$63M	$132M	$195M
Q2 25	$21M	$118M	$139M
Q3 25	$50M	$66M	$116M
Q4 25	$34M	$62M	$96M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	149M	+0.2%	+4.0%
Q2 22	150M	+0.3%	+3.6%
Q3 22	175M	+16.9%	+19.9%
Q4 22	189M	+7.9%	+26.7%
Q1 23	189M	+0.2%	+26.7%
Q2 23	205M	+8.3%	+36.9%
Q3 23	245M	+19.6%	+40.0%
Q4 23	245M	0.0%	+29.8%
Q1 24	245M	+0.2%	+29.8%
Q2 24	311M	+26.7%	+51.8%
Q3 24	361M	+16.3%	+47.6%
Q4 24	361M	0.0%	+47.6%
Q1 25	362M	+0.2%	+47.6%
Q2 25	364M	+0.4%	+17.0%
Q3 25	363M	-0.0%	+0.5%
Q4 25	363M	+0.0%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$425	87
Q2 22	$402	87
Q3 22	$448	87
Q4 22	$207	135
Q1 23	$178	135
Q2 23	$2.3K	135
Q3 23	$1.2K	135
Q4 23	$2.5K	285
Q1 24	$4.0K	285
Q2 24	$5.8K	285
Q3 24	$6.1K	285
Q4 24	$257.8K	103
Q1 25	$12.3K	103
Q2 25	$280.3K	103
Q3 25	$137.7K	103
Q4 25	$67.8K	81

Revenue / Employee