XOMA

MKT CAP:$453M

XOMA Royalty Corp.

Market Cap

$453M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$37.90+$9.91 (+35.41%)

Apr 24, 2026

Company Details

XOMA Royalty Corp. operates as a biotechnology royalty aggregator in Europe, the United States, and the Asia Pacific. The company engages in helping biotech companies for enhancing human health. It acquires the potential future economics as...

CEO

Owen Hughes Jr.

IPO Date

Jun 6, 1986

Website

www.xoma.com

Key Metrics TTM

Revenue

$52M

+218.5% YoY

Net Income

$11M

EPS (Diluted)

$0.32

Free Cash Flow

$181.0K

Revenue / Share

$2.85

Gross Margin

94.3%

Operating Margin

10.6%

Net Margin

22.1%

FCF Margin

0.4%

P/S

8.8x

P/E

39.8x

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 18, 2026

$52M+83.1%EPS $1.46

Q4 2025

Mar 18, 2026

$14M+57.9%EPS $0.26

Q2 2025

Aug 13, 2025

$13M+132.2%EPS $0.44

Q1 2025

May 13, 2025

$16M+967.9%EPS $0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$940.0K	$910.0K	-$3M
Q1 22	$3M	$3M	-$2M
Q2 22	$983.0K	$943.0K	-$5M
Q3 22	$451.0K	$422.0K	-$4M
Q4 22	$1M	$1M	-$6M
Q1 23	$437.0K	$383.0K	-$10M
Q2 23	$2M	$2M	-$6M
Q3 23	$830.0K	$805.0K	-$6M
Q4 23	$2M	$2M	-$20M
Q1 24	$1M	$1M	-$7M
Q2 24	$6M	$6M	-$10M
Q3 24	$7M	$7M	-$16M
Q4 24	$9M	$8M	-$7M
Q1 25	$16M	$15M	$6M
Q2 25	$13M	$12M	$5M
Q4 25	$14M	$13M	$2M

Valuation

Quarter	P/S	P/E
Q3 21	9.6x	33.3x
Q1 22	56.8x	—
Q2 22	42.0x	—
Q3 22	35.5x	—
Q4 22	34.2x	—
Q1 23	71.9x	—
Q2 23	50.1x	—
Q3 23	36.5x	—
Q4 23	52.7x	—
Q1 24	49.9x	—
Q2 24	29.4x	—
Q3 24	19.1x	—
Q4 24	13.3x	—
Q1 25	6.2x	—
Q2 25	6.7x	—
Q4 25	5.9x	26.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$3M	-$10M
Q1 22	-$1M	-$1M
Q2 22	-$4M	-$4M
Q3 22	-$4M	-$4M
Q4 22	-$4M	-$4M
Q1 23	-$5M	-$5M
Q2 23	-$7M	-$7M
Q3 23	-$2M	-$2M
Q4 23	-$4M	-$4M
Q1 24	-$6M	-$6M
Q2 24	$3M	$3M
Q3 24	-$9M	-$9M
Q4 24	-$3M	-$3M
Q1 25	$2M	$2M
Q2 25	$6M	$6M
Q4 25	-$6M	-$6M

Capital Expenditures

Quarter	CapEx
Q3 21	$7M
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$17.0K
Q1 24	$17.0K
Q2 24	$0
Q3 24	$0
Q4 24	$3.0K
Q1 25	$0
Q2 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+68.8%	+32.0%
Q1 22	-88.7%	+39.4%
Q2 22	+162.1%	-15.5%
Q3 22	-49.9%	+21.6%
Q4 22	+58.1%	+79.6%
Q1 23	-85.9%	+105.1%
Q2 23	+68.7%	+32.4%
Q3 23	+84.0%	+37.2%
Q4 23	+23.4%	+182.8%
Q1 24	+241.0%	-19.9%
Q2 24	+241.0%	+106.6%
Q3 24	+767.1%	+245.1%
Q4 24	+375.4%	-26.6%
Q1 25	+967.9%	+17.5%
Q2 25	+132.2%	-45.8%
Q4 25	+91.1%	-49.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$779.0K	82.9%
Q1 22	$978.0K	31.5%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$2M	359.3%
Q2 23	$0	0.0%
Q3 23	$3M	327.3%
Q4 23	$3M	144.5%
Q1 24	$0	0.0%
Q2 24	$3M	47.6%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$2M	12.5%
Q2 25	$0	0.0%
Q4 25	$4M	28.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$30.0K	$4M	$48.0K
Q1 22	$56.0K	$5M	$47.0K
Q2 22	$40.0K	$6M	$46.0K
Q3 22	$29.0K	$5M	$49.0K
Q4 22	$28.0K	$8M	$47.0K
Q1 23	$54.0K	$6M	$53.0K
Q2 23	$39.0K	$6M	$58.0K
Q3 23	$25.0K	$6M	$37.0K
Q4 23	$25.0K	$7M	$1M
Q1 24	$33.0K	$8M	—
Q2 24	$1M	$11M	—
Q3 24	$817.0K	$8M	—
Q4 24	$864.0K	$4M	$31M
Q1 25	$1M	$8M	—
Q2 25	$69.0K	$8M	—
Q4 25	$281.0K	$10M	—

Revenue by Geography

Quarter	Asia Pacific	Switzerland	United States
Q1 25	$4M	$6M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$88M	$547.0K	$88M
Q2 22	$83M	$523.0K	$84M
Q3 22	$78M	$443.0K	$79M
Q4 22	$58M	$335.0K	$58M
Q1 23	$44M	$311.0K	$45M
Q2 23	$31M	$320.0K	$32M
Q3 23	$33M	$214.0K	$34M
Q4 23	$153M	$161.0K	$153M
Q1 24	$136M	$413.0K	$137M
Q2 24	$144M	$696.0K	$145M
Q3 24	$142M	$785.0K	$143M
Q4 24	$102M	$4M	$105M
Q1 25	$90M	$2M	$93M
Q2 25	$75M	$9M	$84M
Q3 25	$90M	$2M	$92M
Q4 25	$83M	$382.0K	$83M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	11M	+0.2%	+2.6%
Q1 22	11M	+0.2%	-6.0%
Q2 22	11M	+0.8%	+1.6%
Q3 22	11M	+0.2%	+1.4%
Q4 22	11M	+0.0%	+1.2%
Q1 23	11M	+0.1%	+1.1%
Q2 23	11M	+0.1%	+0.4%
Q3 23	11M	+0.1%	+0.2%
Q4 23	11M	+0.0%	+0.2%
Q1 24	12M	+0.9%	+1.0%
Q2 24	12M	+0.6%	+1.6%
Q3 24	12M	+0.6%	+2.1%
Q4 24	12M	+1.2%	+3.3%
Q1 25	15M	+24.3%	+27.2%
Q2 25	18M	+20.6%	+52.5%
Q4 25	18M	+1.9%	+54.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$94.0K	10
Q1 22	$258.9K	12
Q2 22	$81.9K	12
Q3 22	$37.6K	12
Q4 22	$123.8K	12
Q1 23	$36.4K	12
Q2 23	$138.2K	12
Q3 23	$69.2K	12
Q4 23	$141.0K	13
Q1 24	$114.6K	13
Q2 24	$434.9K	13
Q3 24	$553.6K	13
Q4 24	$670.3K	13
Q1 25	$1M	13
Q2 25	$1M	13
Q4 25	$275	50K

Revenue / Employee