Xeris Biopharma (XERS) surges with 38% Q1 revenue growth and profit
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Xeris Biopharma Holdings, Inc. reported a strong first quarter of 2026 with total revenue of $83.1 million, up 38% from $60.1 million a year earlier. Net product revenue rose 43% to $82.5 million, driven mainly by Recorlev, whose net revenue increased 95% to $49.8 million, while Gvoke was flat and Keveyis grew 4%.
Gross margin improved to 87% from 85%. Operating expenses increased as the company invested in R&D for XP-8121 and expanded its commercial organization, particularly for Recorlev. Despite higher costs, Xeris generated net income of $2.2 million, compared with a net loss of $9.2 million in the prior-year quarter, and Adjusted EBITDA increased to $15.1 million from $4.4 million.
The company tightened full-year 2026 total revenue guidance to a range of $380 million to $390 million, which it states represents more than 30% growth at the midpoint, and highlighted plans to initiate a Phase 3 trial of XP-8121 later in 2026.
Positive
- Total revenue increased to $83.1 million, a 38% year-over-year rise, with net product revenue up 43% to $82.5 million, showing broad top-line momentum led by the commercial portfolio.
- Recorlev net revenue grew 95% year-over-year to $49.8 million, becoming the main growth driver and demonstrating strong demand and increased market awareness.
- Profitability improved materially as the company generated $2.2 million in net income versus a $9.2 million net loss a year earlier, alongside Adjusted EBITDA rising to $15.1 million from $4.4 million.
- 2026 revenue guidance was tightened to a range of $380 million to $390 million, which management states represents more than 30% growth at the midpoint, signaling confidence in sustained expansion.
Negative
- None.
Insights
Xeris posts strong Q1 growth, turns profitable, and tightens 2026 guidance.
Xeris Biopharma grew total revenue to $83.1M, up 38% year-over-year, with Recorlev nearly doubling to $49.8M. Gross margin reached 87%, helped by favorable product mix. This expansion supported positive operating income after a prior-year operating loss.
Higher R&D and SG&A spending reflects pipeline advancement and a larger commercial footprint, especially for Recorlev. Despite this, net income was $2.2M versus a $9.2M loss, and Adjusted EBITDA rose to $15.1M. The company now guides 2026 revenue to $380M–$390M, which it describes as >30% growth at the midpoint.
Management also points to 2026 as important for its pipeline, highlighting the planned Phase 3 initiation of XP-8121 later in the year. Future updates on that trial and on Recorlev’s continued growth will come through subsequent company communications and filings.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total revenue: $83.1M
Net product revenue: $82.5M
Recorlev net revenue: $49.8M
+5 more
8 metrics
Total revenue
$83.1M
Three months ended March 31, 2026; up 38% from $60.1M in 2025
Net product revenue
$82.5M
Q1 2026; up 43% from $57.8M in Q1 2025
Recorlev net revenue
$49.8M
Q1 2026; approximately 95% year-over-year growth
Keveyis net revenue
$11.9M
Q1 2026; about 4% higher than Q1 2025
Gross margin
87%
Q1 2026; improved from 85% in prior-year quarter
Net income (loss)
$2.2M
Q1 2026 net income vs. $9.2M net loss in Q1 2025
Adjusted EBITDA
$15.1M
Three months ended March 31, 2026; up from $4.4M in 2025
2026 revenue guidance
$380M–$390M
Full-year 2026 total revenue range; >30% growth at midpoint per company
Key Terms
Adjusted EBITDA, gross margin, Phase 3, non-GAAP financial measures, +2 more
6 terms
Adjusted EBITDA financial
"Adjusted EBITDA1 for the first quarter was $15.1 million, an improvement of $10.7 million compared to the same period last year."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
gross margin financial
"Gross margin improved to 87%, up from 85% in the same period last year."
Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.
Phase 3 technical
"with the anticipated Phase 3 initiation of XP-8121 later in the year marking a significant value creation inflection point."
Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.
non-GAAP financial measures financial
"This press release includes financial results prepared in accordance with generally accepted accounting principles in the United States (GAAP) and also certain historical and forward-looking non-GAAP financial measures, namely Adjusted EBITDA."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
forward-looking statements regulatory
"Any statements in this press release other than statements of historical fact are forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
endogenous Cushing’s syndrome medical
"Recorlev®, for the treatment of endogenous Cushing’s syndrome; Gvoke®, a ready-to-use liquid glucagon..."
Earnings Snapshot
Total revenue: $83.1M · Guidance included
Q1 2026
Total revenue
$83.1M
+38% YoY
Net product revenue
$82.5M
+43% YoY
Recorlev net revenue
$49.8M
+95% YoY
Net income (loss)
$2.2M
from -$9.2M YoY
Adjusted EBITDA
$15.1M
from $4.4M YoY
Guidance
Full-year 2026 total revenue guidance tightened to $380 million to $390 million, which the company states represents more than 30% growth at the midpoint.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||||||||
(Address of principal executive offices, including zip code)
(844 ) 445-5704
(Registrant's telephone number, including area code)
(Not applicable)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||||||||||||||||||||||||||
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||||||||||||||||||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||||||||||||||||||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||||||||||||||||||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||||||||||||||||||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||||||||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). | ||||||||||||||||||||||||||
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 7, 2026, Xeris Biopharma Holdings, Inc. (the “Company”) issued a press release containing information about the Company’s results of operations and business highlights for the three months ended March 31, 2026. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |||||||
| 99.1 | Press release, dated May 7, 2026, regarding the Company's first quarter 2026 financial results | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 7, 2026 | Xeris Biopharma Holdings, Inc. | |||||||||||||
| By: | /s/ Steven M. Pieper | |||||||||||||
| Name: Steven M. Pieper | ||||||||||||||
Title: Chief Financial Officer | ||||||||||||||
Exhibit 99.1
XERIS BIOPHARMA REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS
Total product revenue increased 43% year-over-year to over $82 million
Recorlev net revenue increased 95% year-over-year to $50 million
Tightens full-year 2026 total revenue guidance to $380 million to $390 million
Hosts conference call and webcast today at 8:30 a.m. ET
CHICAGO, IL; May 7, 2026 – Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a fast-growing biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies, today announced financial results for the first quarter ended March 31, 2026.
"We are thrilled with our outstanding start to 2026, delivering first quarter net product revenue growth of 43%, reflecting the successful execution of our strategy," said John Shannon, CEO. "Recorlev was the standout performer, with net revenue nearly doubling year-over-year, driven by growth across our patient base and increased awareness across the prescriber base. Also in the quarter, we successfully completed the expansion of our commercial team, and we expect the impact of these targeted investments to become more evident in the second half of 2026 and beyond.”
Shannon continued, "Looking ahead, we remain confident in our ability to deliver on our full-year financial targets. Recorlev's strong Q1 and continued momentum gives us the confidence to raise the bottom end of our full year 2026 total revenue guidance. Our updated guidance of $380 million to $390 million represents more than 30% growth at the midpoint. Beyond our commercial execution, 2026 represents a pivotal year for our pipeline, with the anticipated Phase 3 initiation of XP-8121 later in the year marking a significant value creation inflection point. Our strong financial foundation enables us to advance these strategic priorities while creating sustainable long-term value for shareholders."
First Quarter 2026 Highlights
| Three months ended March 31, | Change | |||||||||||||||||||
| 2026 | 2025 | $ | % | |||||||||||||||||
| Product revenue (in thousands): | ||||||||||||||||||||
| Recorlev | $ | 49,768 | $ | 25,530 | $ | 24,238 | 95 | |||||||||||||
| Gvoke | 20,800 | 20,845 | (45) | — | ||||||||||||||||
| Keveyis | 11,886 | 11,427 | 459 | 4 | ||||||||||||||||
| Product revenue, net | 82,454 | 57,802 | 24,652 | 43 | ||||||||||||||||
| Royalty, contract and other revenue | 673 | 2,317 | (1,644) | (71) | ||||||||||||||||
| Total revenue | $ | 83,127 | $ | 60,119 | $ | 23,008 | 38 | |||||||||||||
•Recorlev® net revenue was $49.8 million – an increase of approximately 95% compared to the first quarter of 2025. This growth was primarily due to increased patient demand.
•Gvoke® net revenue was $20.8 million – flat compared to the first quarter of 2025.
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•Keveyis® net revenue was $11.9 million – an increase of approximately 4% compared to the first quarter of 2025.
Gross margin improved to 87%, up from 85% in the same period last year. The improvement was primarily driven by favorable product mix dynamics.
Research and development (R&D) expenses increased $1.0 million or 13% in the first quarter of 2026 compared to the same period last year. The increase in R&D expenses primarily reflect higher personnel-related expenses to support XP-8121.
Selling, general and administrative (SG&A) expenses increased $9.1 million or 21% in the first quarter of 2026 compared to the same period last year. This increase mainly reflects higher personnel related expense to support the commercial enterprise, including the Recorlev expansion.
Net income for the first quarter was $2.2 million, compared to a net loss of $9.2 million in the same period last year.
Adjusted EBITDA1 for the first quarter was $15.1 million, an improvement of $10.7 million compared to the same period last year.
Total Shares Outstanding were 172,642,055 at April 30, 2026.
Upcoming Events
•Craig-Hallum Institutional Investor Conference: Senior management will participate in 1x1 meetings on May 28, 2026 in Minneapolis, MN. Please contact the sponsor to arrange meetings with management.
•Jefferies Global Healthcare Conference: Senior management will participate in 1x1 meetings and a fireside chat on June 3, 2026 in New York, NY. The fireside chat will be webcast live, with access available via the “Events” section of the Xeris Investor Relations website. Please contact the sponsor to arrange meetings with management.
Conference Call and Webcast Details
Xeris will host a conference call and webcast at 8:30 a.m. Eastern Time today to discuss the Company's financial and operational results. Interested parties may pre-register for the call at by following
https://events.q4inc.com/attendee/925563770. Attendees can also join via the “Events” section of the Xeris Investor Relations website.
The webcast, replay and other information related to the event can be accessed on the investor website
https://xerispharma.com/investor-relations.
Note Regarding Use of Non-GAAP Financial Measures
This press release includes financial results prepared in accordance with generally accepted accounting principles in the United States (GAAP) and also certain historical and forward-looking non-GAAP financial measures, namely Adjusted EBITDA. This non-GAAP financial measure is not meant to be considered in isolation and should be read in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP, and was not prepared under any comprehensive set of accounting rules or principles. Non-GAAP financial measures are not an alternative for financial measures prepared in accordance with GAAP, and the calculation of the non-GAAP financial measure included herein may differ from similarly titled measures used by other companies. The Company believes that the presentation of Adjusted EBITDA, when viewed in conjunction with actual GAAP results, provides investors with a more meaningful understanding of the Company's ongoing and projected operating performance, exclusive of factors that do not directly affect what the Company considers to be its core operating performance, as well as unusual events. The Company believes this non-GAAP financial measure helps indicate underlying trends in the Company’s business and is important in comparing current results with prior period results and understanding expected operating performance. Also, management uses this non-GAAP financial measure to establish budgets and operational goals, and to manage the Company’s business and evaluate its performance. In addition, management believes that Adjusted EBITDA is important in evaluating the administrative costs of operating the Company’s business.
1 Adjusted EBITDA is a non-GAAP financial measure. See "Note Regarding Use of Non-GAAP Financial Measures" and the corresponding financial tables at the end of this press release for definitions and reconciliations of non-GAAP measures.
2
Adjusted EBITDA is GAAP net income (loss) before income tax (benefit) expense, plus interest and other income, less depreciation and amortization, interest expenses, share based compensation and debt refinancing fees.
About Xeris
Xeris (Nasdaq: XERS) is a fast-growing biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products: Recorlev®, for the treatment of endogenous Cushing’s syndrome; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; and Keveyis®, a proven therapy for primary periodic paralysis. Xeris also has a pipeline of development programs led by XP-8121, a Phase 3-ready, once-weekly subcutaneous injection for hypothyroidism, as well as multiple early-stage programs leveraging Xeris’ technology platforms, XeriSol® and XeriJect®, for its partners.
Xeris Biopharma Holdings is headquartered in Chicago, IL. For more information, visit www.xerispharma.com, or follow us on X, LinkedIn, or Instagram.
Forward-Looking Statements
Any statements in this press release other than statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, statements about future expectations, plans, opportunities, and prospects for Xeris Biopharma Holdings, Inc., including statements regarding financial guidance for full-year 2026, including the potential for revenue growth, the Company’s ability to continue to generate net income, Recorlev’s growth potential, expectations on the impact of the commercial team expansion in the second half of 2026 and beyond, the ability to continue to deliver on all full-year financial targets, the effectiveness of the Company’s strategic execution, the Company’s ability to continue on its current growth trajectory and continue to drive patient demand, advancing its strategic initiatives, its ability to create sustainable long-term value for shareholders, the ability to continue to demonstrate sustained momentum across the portfolio and the market and therapeutic potential of its products and product candidates, including its expectations regarding the timely execution of XP-8121's ongoing development leading into the start of its Phase 3 clinical trial and the expected timing of the XP-8121 Phase 3 clinical trial later in 2026, the potential utility of its formulation platforms, the advancement of its pipeline, and other statements containing the words "achieve," "anticipate," "continue," “will,” “would,” “continue,” “expect,” “should,” “anticipate” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on numerous assumptions and assessments made in light of Xeris’ experience and perception of historical trends, current conditions, business strategies, operating environment, future developments, geopolitical factors and other factors it believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The various factors that could cause Xeris’ actual results (including revenue and sales in the near- and long-term), performance or achievements, industry results, market opportunity and developments to differ materially from those expressed in or implied by such forward-looking statements (including its 2026 guidance), include, but are not limited to, its financial position and need for financing, including to fund its product development programs or commercialization efforts, whether its products will achieve and maintain market acceptance in a competitive business environment, its reliance on third-party suppliers, including single-source suppliers, its reliance on third parties to conduct clinical trials, the ability of its product candidates to compete successfully with existing and new drugs, its and collaborators’ ability to protect its intellectual property and proprietary technology, the accuracy and completeness of its assumptions and its ability to accurately estimate future financial results and market opportunities, and general macroeconomic and geopolitical conditions, including the possibility of an economic downturn, political unrest, trade disputes, changes in U.S. governmental priorities and resources, announced or implemented tariffs or export controls and market volatility. No assurance can be given that such expectations will be realized and persons reading this communication are, therefore, cautioned not to place undue reliance on these forward-looking statements. Additional risks and information about potential impacts of financial, operational, economic, competitive, regulatory, governmental, technological, and other factors that may affect Xeris can be found in Xeris’ filings, including its most recently filed Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission, the contents of which are not incorporated by reference into, nor do they form part of, this communication. The risks described herein and in Xeris’ U.S. Securities and Exchange Commission filings are not the only risks the Company faces. Additional risks and uncertainties not currently known to it or that it currently deems immaterial may also impact its business operations or financial results. Forward-looking statements in this communication are based on information available to management, as of the date of this communication and, while the Company believes its assumptions are reasonable, actual results may differ materially. Subject to any obligations under applicable law, the Company does not undertake any obligation to update any forward-looking statement whether as a
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result of new information, future developments or otherwise, or to conform any forward-looking statement to actual results, future events, or to changes in expectations.
Investor Contact
Allison Wey
Senior Vice President, Investor Relations and Corporate Communications
awey@xerispharma.com
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XERIS BIOPHARMA HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| (unaudited) | (unaudited) | ||||||||||
| Product revenue, net | $ | 82,454 | $ | 57,802 | |||||||
| Royalty, contract and other revenue | 673 | 2,317 | |||||||||
| Total revenue | 83,127 | 60,119 | |||||||||
| Costs and expenses: | |||||||||||
| Cost of goods sold | 10,574 | 8,728 | |||||||||
| Research and development | 8,783 | 7,753 | |||||||||
| Selling, general and administrative | 53,144 | 44,018 | |||||||||
| Amortization of intangible assets | 2,710 | 2,710 | |||||||||
| Total costs and expenses | 75,211 | 63,209 | |||||||||
| Income (loss) from operations | 7,916 | (3,090) | |||||||||
| Other expenses | (5,682) | (6,130) | |||||||||
| Net income (loss) before benefit from income taxes | 2,234 | (9,220) | |||||||||
| Income tax benefit | — | — | |||||||||
| Net income (loss) | $ | 2,234 | $ | (9,220) | |||||||
| Net income (loss) per common share - basic | $ | 0.01 | $ | (0.06) | |||||||
| Net income (loss) per common share - diluted | $ | 0.01 | $ | (0.06) | |||||||
| Weighted average common shares outstanding | |||||||||||
| Basic | 170,523,208 | 152,445,935 | |||||||||
| Diluted | 177,631,154 | 152,445,935 | |||||||||
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XERIS BIOPHARMA HOLDINGS, INC.
Non-GAAP Financial Measures - EBITDA and Adjusted EBITDA
(in thousands, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| GAAP Net income (loss) | $ | 2,234 | $ | (9,220) | |||||||
| Adjustments | |||||||||||
| Interest and other income | (1,202) | (1,175) | |||||||||
| Interest expense | 6,884 | 7,305 | |||||||||
| Income tax benefit | — | — | |||||||||
| Depreciation and amortization | 3,047 | 3,025 | |||||||||
| EBITDA | $ | 10,963 | $ | (65) | |||||||
| Adjustments | |||||||||||
| Share-based compensation (a) | 4,140 | 4,443 | |||||||||
| Adjusted EBITDA | $ | 15,103 | $ | 4,378 | |||||||
(a) Includes non-cash, stock-based compensation, net of forfeitures.
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XERIS BIOPHARMA HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
| March 31, 2026 | December 31, 2025 | ||||||||||
| Assets | (unaudited) | ||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 111,750 | $ | 111,042 | |||||||
| Trade accounts receivable, net | 56,295 | 51,050 | |||||||||
| Inventory, net | 74,234 | 68,673 | |||||||||
| Prepaid expenses and other current assets | 9,403 | 9,548 | |||||||||
| Total current assets | 251,682 | 240,313 | |||||||||
| Property and equipment, net | 5,033 | 4,945 | |||||||||
| Operating lease right-of-use assets | 21,949 | 22,112 | |||||||||
| Goodwill | 22,859 | 22,859 | |||||||||
| Intangible assets, net | 85,368 | 88,078 | |||||||||
| Other assets | 5,122 | 5,220 | |||||||||
| Total assets | $ | 392,013 | $ | 383,527 | |||||||
| Liabilities and Stockholders’ Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 11,467 | $ | 3,076 | |||||||
| Current operating lease liabilities | 6,271 | 6,232 | |||||||||
| Other accrued liabilities | 32,287 | 33,155 | |||||||||
| Accrued trade discounts and rebates | 45,492 | 43,253 | |||||||||
| Accrued returns reserve | 18,723 | 18,969 | |||||||||
| Other current liabilities | 4,353 | 4,889 | |||||||||
| Total current liabilities | 118,593 | 109,574 | |||||||||
| Long-term debt, net of unamortized debt issuance costs | 221,224 | 220,335 | |||||||||
| Non-current operating lease liabilities | 31,058 | 31,531 | |||||||||
| Other liabilities | 8,127 | 8,398 | |||||||||
| Total liabilities | 379,002 | 369,838 | |||||||||
| Total stockholders’ equity | 13,011 | 13,689 | |||||||||
| Total liabilities and stockholders’ equity | $ | 392,013 | $ | 383,527 | |||||||
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FAQ
How did Xeris Biopharma (XERS) perform financially in Q1 2026?
Xeris Biopharma reported strong Q1 2026 results with higher revenue and a return to profitability. Total revenue reached $83.1 million, up 38% year-over-year, and net income was $2.2 million compared with a $9.2 million net loss in the same quarter of 2025.
Which products drove Xeris Biopharma’s Q1 2026 revenue growth?
Growth was led by Recorlev, which generated net revenue of $49.8 million, up about 95% year-over-year. Gvoke net revenue was $20.8 million and flat versus Q1 2025, while Keveyis net revenue increased about 4% to $11.9 million.
What guidance did Xeris Biopharma provide for full-year 2026 revenue?
Xeris tightened its full-year 2026 total revenue guidance to $380 million to $390 million. Management states this range represents more than 30% growth at the midpoint and reflects confidence supported by Recorlev’s strong first-quarter performance and ongoing commercial execution.
How did Xeris Biopharma’s profitability metrics change in Q1 2026?
Profitability improved significantly. Xeris reported $2.2 million in net income versus a $9.2 million net loss a year earlier. Adjusted EBITDA rose to $15.1 million, up from $4.4 million, and gross margin increased to 87% from 85%.
What is the status of Xeris Biopharma’s XP-8121 program mentioned in the 8-K?
XP-8121 is described as a Phase 3-ready, once-weekly subcutaneous injection for hypothyroidism. The company expects to begin the Phase 3 clinical trial later in 2026 and characterizes 2026 as a pivotal year for advancing this pipeline asset.
How did operating expenses change for Xeris Biopharma in Q1 2026?
Operating expenses increased as Xeris invested in growth. R&D expenses rose by about $1.0 million or 13%, mainly for XP-8121 support. SG&A expenses increased by $9.1 million or 21%, largely due to higher personnel costs tied to commercial expansion.