# Exelixis Reports Higher Revenue and Profit While Maintaining Sales Forecast

The company reported $658.7 million in quarterly revenue, led by U.S. cabozantinib product sales.

By Will Langan | 24X7 News
Published: 2026-10-29T23:00:24.087Z
Updated: 2026-10-29T23:00:24.087Z
Section: Health
Format: News
Canonical: https://24x7news.us/articles/exelixis-third-quarter-results-october-29-2026

Exelixis reported October 29 that third-quarter revenue increased to $658.7 million from $597.8 million a year earlier.

Net product revenue rose to $604.9 million from $542.9 million. The company attributed that increase primarily to higher sales volume and average net selling prices.

Collaboration revenue declined to $53.8 million from $54.8 million, as lower milestone revenue and development reimbursements partly offset higher international royalties.

GAAP net income reached $218.1 million, or 85 cents per diluted share, compared with $193.6 million, or 69 cents. Share repurchases reduced the weighted-average share count, helping the per-share comparison.

Adjusted diluted earnings were 94 cents, compared with 78 cents. That measure excludes stock-based compensation and related tax effects.

Research-and-development expenses increased to $209.5 million from $199.2 million. Selling, general and administrative expenses rose to $154.6 million from $123.7 million.

Exelixis maintained annual revenue guidance of $2.500 billion to $2.550 billion. The forecast excludes potential sales from U.S. approval and launch of zanzalintinib, which remains under regulatory review.

The financial results cover the quarter ended September 30. The annual guidance is a forecast.

Sources:
Exelixis — October 29 Financial Results: https://www.businesswire.com/news/home/20261029052392/en/Exelixis-Announces-Third-Quarter-2026-Financial-Results-and-Provides-Corporate-Update

## Sources
- Exelixis — October 29 Financial Results: https://www.businesswire.com/news/home/20261029052392/en/Exelixis-Announces-Third-Quarter-2026-Financial-Results-and-Provides-Corporate-Update