Xeris Biopharma Holdings Financials

XERS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Xeris Biopharma Holdings (XERS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Xeris Biopharma Holdings passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.67x

For every $1 of reported earnings, Xeris Biopharma Holdings generates $0.67 in operating cash flow (-$37.0M OCF vs -$54.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-1.1x

Xeris Biopharma Holdings earns $-1.1 in operating income for every $1 of interest expense (-$33.6M vs $30.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$203.1M

YoY+23.9%

Xeris Biopharma Holdings generated $203.1M in revenue in fiscal year 2024. This represents an increase of 23.9% from the prior year.

EBITDA

-$32.4M

YoY+23.8%

Xeris Biopharma Holdings's EBITDA was -$32.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 23.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$54.8M

YoY+11.9%

Xeris Biopharma Holdings reported -$54.8M in net income in fiscal year 2024. This represents an increase of 11.9% from the prior year.

EPS (Diluted)

$-0.37

YoY+17.8%

Xeris Biopharma Holdings earned $-0.37 per diluted share (EPS) in fiscal year 2024. This represents an increase of 17.8% from the prior year.

Cash & Debt

$71.6M

YoY+6.2%

Xeris Biopharma Holdings held $71.6M in cash against $217.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

149M

YoY+8.2%

Xeris Biopharma Holdings had 149M shares outstanding in fiscal year 2024. This represents an increase of 8.2% from the prior year.

Gross Margin

81.9%

YoY-0.7pp

Xeris Biopharma Holdings's gross margin was 81.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.

Operating Margin

-16.6%

YoY+10.3pp

Xeris Biopharma Holdings's operating margin was -16.6% in fiscal year 2024, reflecting core business profitability. This is up 10.3 percentage points from the prior year.

Net Margin

-27.0%

YoY+11.0pp

Xeris Biopharma Holdings's net profit margin was -27.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 11.0 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$25.6M

YoY+14.4%

Xeris Biopharma Holdings invested $25.6M in research and development in fiscal year 2024. This represents an increase of 14.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

XERS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	$203.1M+23.9%	$163.9M+48.7%	$110.2M+122.3%	$49.6M+142.7%	$20.4M
Cost of Revenue	$36.8M+28.6%	$28.6M+26.6%	$22.6M+70.0%	$13.3M+42.8%	$9.3M
Gross Profit	$166.2M+22.9%	$135.3M+54.4%	$87.6M+141.5%	$36.3M+226.6%	$11.1M
R&D Expenses	$25.6M+14.4%	$22.3M+6.6%	$21.0M-16.7%	$25.2M+20.3%	$20.9M
SG&A Expenses	$163.5M+11.9%	$146.1M+6.1%	$137.7M+9.6%	$125.7M+70.5%	$73.7M
Operating Income	-$33.6M+23.5%	-$44.0M+46.3%	-$81.9M+28.8%	-$115.2M-37.8%	-$83.5M
Interest Expense	$30.5M+14.6%	$26.6M+88.7%	$14.1M+96.4%	$7.2M-32.6%	$10.7M
Income Tax	-$2.3M-81.6%	-$1.2M+12.3%	-$1.4M	$0+100.0%	-$110K
Net Income	-$54.8M+11.9%	-$62.3M+34.2%	-$94.7M+22.9%	-$122.7M-34.7%	-$91.1M
EPS (Diluted)	$-0.37+17.8%	$-0.45+35.7%	$-0.70+54.8%	$-1.55	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$74.4M+4.0%	$71.5M+19.0%	$60.1M0.0%	$60.1M+25.0%	$48.1M+18.3%	$40.6M-8.5%	$44.4M-8.1%	$48.3M
Cost of Revenue	$11.0M-7.6%	$11.9M+36.3%	$8.7M-7.9%	$9.5M+21.7%	$7.8M+30.5%	$6.0M-21.1%	$7.6M-7.7%	$8.2M
Gross Profit	$63.4M+6.3%	$59.6M+16.1%	$51.4M+1.5%	$50.6M+25.7%	$40.3M+16.2%	$34.7M-5.8%	$36.8M-8.2%	$40.1M
R&D Expenses	$7.5M-7.1%	$8.1M+3.9%	$7.8M+27.3%	$6.1M+5.8%	$5.8M-26.4%	$7.8M+22.5%	$6.4M+26.8%	$5.0M
SG&A Expenses	$46.5M+4.7%	$44.4M+0.9%	$44.0M+9.7%	$40.1M+0.4%	$40.0M+4.2%	$38.4M+2.2%	$37.6M+0.8%	$37.3M
Operating Income	$6.7M+50.2%	$4.5M+245.0%	-$3.1M-284.0%	$1.7M+120.5%	-$8.2M+42.5%	-$14.2M-44.8%	-$9.8M-100.3%	-$4.9M
Interest Expense	$7.3M-1.2%	$7.4M+0.7%	$7.3M-5.2%	$7.7M-3.3%	$8.0M+13.3%	$7.0M+0.2%	$7.0M+2.5%	$6.8M
Income Tax	$0	$0	$0	$0-100.0%	$749K+144.0%	$307K+230.1%	-$236K+30.2%	-$338K
Net Income	$621K+132.2%	-$1.9M+79.1%	-$9.2M-80.3%	-$5.1M+65.9%	-$15.0M+20.9%	-$19.0M-41.7%	-$13.4M-9.9%	-$12.2M
EPS (Diluted)	$0.00+100.0%	$-0.01+83.3%	$-0.06-200.0%	$-0.02+80.0%	$-0.10+28.6%	$-0.14-40.0%	$-0.10-11.1%	$-0.09

XERS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$323.1M+0.1%	$322.6M-6.4%	$344.5M+13.2%	$304.4M+91.2%	$159.2M
Current Assets	$167.7M+7.3%	$156.3M-16.4%	$186.8M+31.0%	$142.6M-6.3%	$152.2M
Cash & Equivalents	$71.6M+6.2%	$67.4M-44.7%	$122.0M+81.3%	$67.3M+78.9%	$37.6M
Inventory	$48.2M+24.0%	$38.8M+57.0%	$24.7M+36.5%	$18.1M+116.9%	$8.4M
Accounts Receivable	$40.4M+3.1%	$39.2M+27.1%	$30.8M+76.6%	$17.5M+153.9%	$6.9M
Goodwill	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M	$0
Total Liabilities	$352.7M+7.1%	$329.4M+10.0%	$299.3M+43.1%	$209.1M+66.8%	$125.4M
Current Liabilities	$100.4M+5.5%	$95.2M+29.3%	$73.6M-6.9%	$79.0M+180.2%	$28.2M
Long-Term Debt	$217.0M+13.7%	$190.9M+2.1%	$187.1M+112.4%	$88.1M+1.2%	$87.0M
Total Equity	-$29.6M-336.7%	-$6.8M-115.0%	$45.2M-52.6%	$95.2M+182.1%	$33.8M
Retained Earnings	-$671.9M-8.9%	-$617.0M-11.2%	-$554.8M-20.6%	-$460.1M-36.4%	-$337.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$370.2M+10.6%	$334.7M+6.1%	$315.5M-2.4%	$323.1M-2.6%	$331.7M-1.5%	$336.6M+4.3%	$322.6M-1.6%	$327.8M
Current Assets	$224.0M+20.7%	$185.6M+13.5%	$163.5M-2.5%	$167.7M-1.6%	$170.3M-1.7%	$173.3M+10.9%	$156.3M-1.1%	$158.1M
Cash & Equivalents	$91.6M+54.5%	$59.3M+1.4%	$58.4M-18.4%	$71.6M+24.3%	$57.6M-8.1%	$62.7M-7.1%	$67.4M+46.2%	$46.1M
Inventory	$67.5M+0.3%	$67.3M+27.7%	$52.7M+9.4%	$48.2M+12.1%	$43.0M+5.1%	$40.9M+5.3%	$38.8M+1.8%	$38.1M
Accounts Receivable	$53.8M+1.3%	$53.0M+14.5%	$46.3M+14.6%	$40.4M-4.8%	$42.4M+13.4%	$37.4M-4.5%	$39.2M-14.7%	$46.0M
Goodwill	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M
Total Liabilities	$371.1M+4.8%	$354.0M+1.0%	$350.6M-0.6%	$352.7M+0.5%	$351.0M+1.5%	$345.8M+5.0%	$329.4M+1.7%	$323.9M
Current Liabilities	$116.2M+22.1%	$95.2M+0.1%	$95.1M-5.3%	$100.4M+33.1%	$75.5M+3.3%	$73.1M-23.2%	$95.2M+9.4%	$87.0M
Long-Term Debt	$219.5M+0.4%	$218.6M+0.4%	$217.8M+0.4%	$217.0M-5.8%	$230.5M+0.4%	$229.7M+20.3%	$190.9M+0.3%	$190.4M
Total Equity	-$861K+95.5%	-$19.3M+45.0%	-$35.1M-18.6%	-$29.6M-53.6%	-$19.3M-110.1%	-$9.2M-35.3%	-$6.8M-275.5%	$3.9M
Retained Earnings	-$682.4M+0.1%	-$683.0M-0.3%	-$681.1M-1.4%	-$671.9M-3.2%	-$651.0M-2.4%	-$636.0M-3.1%	-$617.0M-2.2%	-$603.6M

XERS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$37.0M+21.4%	-$47.0M+54.3%	-$102.9M-7.7%	-$95.5M-18.6%	-$80.6M
Capital Expenditures	N/A	N/A	N/A	$1.1M+187.8%	$377K
Free Cash Flow	N/A	N/A	N/A	-$96.6M-19.4%	-$80.9M
Investing Cash Flow	$4.9M+181.3%	-$6.0M-117.4%	$34.5M-64.8%	$98.0M+457.5%	-$27.4M
Financing Cash Flow	$36.2M+2342.3%	-$1.6M-101.3%	$127.5M+367.8%	$27.2M-78.4%	$126.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$18.4M+10027.5%	$182K+101.8%	-$10.0M-607.9%	$2.0M+119.1%	-$10.3M+49.0%	-$20.3M-371.8%	$7.5M+151.1%	-$14.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$71K+74.6%	-$279K-2046.2%	-$13K-100.1%	$10.0M+117.6%	$4.6M+123.4%	-$19.6M-232.2%	$14.9M+1.5%	$14.7M
Financing Cash Flow	$13.8M+1370.3%	$942K+130.0%	-$3.1M-888.2%	$398K-39.6%	$659K-98.1%	$35.2M+2952.0%	-$1.2M-1613.9%	-$72K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XERS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	81.9%-0.7pp	82.5%+3.1pp	79.5%+6.3pp	73.1%+18.8pp	54.4%
Operating Margin	-16.6%+10.3pp	-26.9%+47.5pp	-74.3%+157.9pp	-232.2%+176.6pp	-408.8%
Net Margin	-27.0%+11.0pp	-38.0%+47.9pp	-85.9%+161.6pp	-247.5%+198.5pp	-446.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-17.0%+2.3pp	-19.3%+8.2pp	-27.5%+12.8pp	-40.3%+16.9pp	-57.3%
Current Ratio	1.67+0.0	1.64-0.9	2.54+0.7	1.80-3.6	5.40
Debt-to-Equity	-7.33+20.8	-28.15-32.3	4.14+3.2	0.92-1.7	2.58
FCF Margin	N/A	N/A	N/A	-194.8%+201.2pp	-396.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	85.2%+1.8pp	83.4%-2.1pp	85.5%+1.2pp	84.2%+0.4pp	83.8%-1.5pp	85.3%+2.4pp	83.0%-0.1pp	83.0%
Operating Margin	9.0%+2.8pp	6.3%+11.4pp	-5.1%-7.9pp	2.8%+19.8pp	-17.0%+18.0pp	-35.0%-12.9pp	-22.2%-12.0pp	-10.2%
Net Margin	0.8%+3.5pp	-2.7%+12.6pp	-15.3%-6.8pp	-8.5%+22.7pp	-31.2%+15.5pp	-46.7%-16.6pp	-30.2%-4.9pp	-25.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.2%+0.8pp	-0.6%+2.3pp	-2.9%-1.3pp	-1.6%+2.9pp	-4.5%+1.1pp	-5.6%-1.5pp	-4.2%-0.4pp	-3.7%
Current Ratio	1.93-0.0	1.95+0.2	1.72+0.1	1.67-0.6	2.26-0.1	2.37+0.7	1.64-0.2	1.82
Debt-to-Equity	-254.90-243.6	-11.33-5.1	-6.20+1.1	-7.33+4.6	-11.95+13.1	-25.02+3.1	-28.15-77.4	49.27
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$29.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Xeris Biopharma Holdings's annual revenue?

Xeris Biopharma Holdings (XERS) reported $203.1M in total revenue for fiscal year 2024. This represents a 23.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Xeris Biopharma Holdings's revenue growing?

Xeris Biopharma Holdings (XERS) revenue grew by 23.9% year-over-year, from $163.9M to $203.1M in fiscal year 2024.

Is Xeris Biopharma Holdings profitable?

No, Xeris Biopharma Holdings (XERS) reported a net income of -$54.8M in fiscal year 2024, with a net profit margin of -27.0%.

What is Xeris Biopharma Holdings's earnings per share (EPS)?

Xeris Biopharma Holdings (XERS) reported diluted earnings per share of $-0.37 for fiscal year 2024. This represents a 17.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Xeris Biopharma Holdings's EBITDA?

Xeris Biopharma Holdings (XERS) had EBITDA of -$32.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Xeris Biopharma Holdings have?

As of fiscal year 2024, Xeris Biopharma Holdings (XERS) had $71.6M in cash and equivalents against $217.0M in long-term debt.

What is Xeris Biopharma Holdings's gross margin?

Xeris Biopharma Holdings (XERS) had a gross margin of 81.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Xeris Biopharma Holdings's operating margin?

Xeris Biopharma Holdings (XERS) had an operating margin of -16.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Xeris Biopharma Holdings's net profit margin?

Xeris Biopharma Holdings (XERS) had a net profit margin of -27.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Xeris Biopharma Holdings's operating cash flow?

Xeris Biopharma Holdings (XERS) generated -$37.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Xeris Biopharma Holdings's total assets?

Xeris Biopharma Holdings (XERS) had $323.1M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Xeris Biopharma Holdings spend on research and development?

Xeris Biopharma Holdings (XERS) invested $25.6M in research and development during fiscal year 2024.

How many shares does Xeris Biopharma Holdings have outstanding?

Xeris Biopharma Holdings (XERS) had 149M shares outstanding as of fiscal year 2024.

What is Xeris Biopharma Holdings's current ratio?

Xeris Biopharma Holdings (XERS) had a current ratio of 1.67 as of fiscal year 2024, which is generally considered healthy.

What is Xeris Biopharma Holdings's debt-to-equity ratio?

Xeris Biopharma Holdings (XERS) had a debt-to-equity ratio of -7.33 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xeris Biopharma Holdings's return on assets (ROA)?

Xeris Biopharma Holdings (XERS) had a return on assets of -17.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Xeris Biopharma Holdings's cash runway?

Based on fiscal year 2024 data, Xeris Biopharma Holdings (XERS) had $71.6M in cash against an annual operating cash burn of $37.0M. This gives an estimated cash runway of approximately 23 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Xeris Biopharma Holdings's debt-to-equity ratio negative or unusual?

Xeris Biopharma Holdings (XERS) has negative shareholder equity of -$29.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Xeris Biopharma Holdings's Piotroski F-Score?

Xeris Biopharma Holdings (XERS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Xeris Biopharma Holdings's earnings high quality?

Xeris Biopharma Holdings (XERS) has an earnings quality ratio of 0.67x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Xeris Biopharma Holdings cover its interest payments?

Xeris Biopharma Holdings (XERS) has an interest coverage ratio of -1.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.