Exelixis Reports Strong Q4 2024 Earnings and Future Prospects

Exelixis showcased a strong performance in Q4 2024, reporting significant revenue growth. The company is optimistic about continued gains with cabozantinib and upcoming launches, creating a favorable environment for investors.

Date: 12-02-2025

AI Rating: 7

Earnings and Revenue Growth: Exelixis reported total revenues of approximately $567 million for Q4 2024, with cabozantinib franchise net product revenues reaching $515.2 million. This indicates substantial year-over-year growth, with CABOMETYX net product revenues growing 20% compared to Q4 2023, highlighting solid demand and a strong market position.

Net Income: The company reported GAAP net income of approximately $139.9 million or $0.49 per share for Q4 2024. Non-GAAP net income was reported as approximately $160.3 million, indicating a robust financial performance despite rising operational expenses.

Free Cash Flow: Exelixis mentioned confidence in their expected free cash flows, which allows for continued investment in pipeline priorities and shareholder returns. The firm repurchased approximately $656 million of shares in 2024, showcasing management's commitment to maximizing shareholder value.

Future Prospects: The company has ambitious revenue aspirations, projecting $3 billion for cabozantinib in 2030 and $5 billion for zanzalintinib by 2033, signaling strong future growth potential. Furthermore, the upcoming FDA approval for cabozantinib's additional indications could catalyze further revenue increases.

Commentary: Overall, Exelixis's strong Q4 performance, coupled with promising future prospects, creates a positive sentiment for investors. The significant growth in revenues and net income, alongside a solid plan for pipeline advancements, may positively influence stock prices moving forward.

Stocks: EXEL