Xeris Biopharma Reports Record Revenue Growth in Earnings Call

Xeris Pharmaceuticals ((XERS)) has held its Q3 earnings call. Read on for the main highlights of the call.

Xeris Biopharma’s recent earnings call painted a picture of robust financial health and strategic optimism. The company reported record revenue growth, driven by strong product performance, particularly from RECORLEV. Despite facing increased expenses and potential competitive pressures, Xeris remains confident in its strategic growth plans and financial milestones, suggesting a positive outlook.

Record-Breaking Revenue Growth

Xeris Biopharma achieved a remarkable milestone with total product revenue surpassing $74 million, marking a 40% year-over-year increase. This impressive growth led the company to raise its full-year total revenue guidance to a range of $285 million to $290 million, representing a 42% increase at the midpoint.

RECORLEV Performance

RECORLEV emerged as the primary growth engine for Xeris, generating $37 million in revenue for the quarter, a staggering 109% increase from the previous year. The number of patients on RECORLEV therapy also grew by 108%, underscoring its critical role in the company’s portfolio.

Gvoke and KEVEYIS Performance

Gvoke contributed significantly to the quarter’s success with revenue exceeding $25 million, reflecting a nearly 10% increase year-over-year. Meanwhile, KEVEYIS generated approximately $12 million, driven by an increase in the average number of patients on therapy.

Financial Milestones

For the first time in its history, Xeris reported significant positive cash flow and net income. The company’s adjusted EBITDA for the quarter was $17.4 million, showing an improvement of over $20 million compared to the same period in 2024.

Increased Expenses

Xeris experienced a rise in R&D expenses by $1.6 million, attributed to ongoing investments in its pipeline and technology platforms. SG&A expenses also saw a 3% increase due to additional personnel-related costs.

Potential Impact of Competition

The company anticipates potential competition from Corcept’s relacorilant, which could impact RECORLEV. Despite this, Xeris remains optimistic about the overall growth of the market.

Forward-Looking Guidance

Xeris Biopharma’s forward-looking guidance remains robust, with expectations of continued revenue growth and strategic investments. The company plans to enhance its RECORLEV commercial organization and develop XP-8121, aiming to sustain positive adjusted EBITDA while focusing on scalable growth.

In summary, Xeris Biopharma’s earnings call conveyed a strong sense of optimism, driven by record revenue growth and strategic initiatives. While challenges such as increased expenses and potential competition loom, the company’s financial milestones and forward-looking strategies underscore its commitment to sustained growth and market leadership.