Revenue: As of FY2026, the actual value is USD 2.32 B, missing the estimate of USD 2.6 B.<h3>Segment Revenue</h3><ul><li>Cabozantinib Franchise Revenue: Approximately $2.123 billion in preliminary U.S. net product revenues for fiscal year 2025.</li></ul><h3>Operational Metrics</h3><ul><li>Total Revenues: Approximately $2.320 billion for fiscal year 2025, with guidance for 2026 set between $2.525 billion and $2.625 billion.</li><li>Net Product Revenues: Approximately $2.123 billion for fiscal year 2025, with guidance for 2026 between $2.325 billion and $2.425 billion.</li><li>Cost of Goods Sold: Approximately 3.7% of net product revenues for fiscal year 2025, with guidance for 2026 between 3.5% and 4.5%.</li><li>Research and Development Expenses: Approximately $825 million for fiscal year 2025, including $40.8 million of non-cash stock-based compensation expense, with guidance for 2026 between $875 million and $925 million.</li><li>Selling, General and Administrative Expenses: Approximately $520 million for fiscal year 2025, including $72.2 million of non-cash stock-based compensation expense, with guidance for 2026 between $575 million and $625 million.</li></ul><h3>Cash Flow</h3><ul><li>Ending Cash and Marketable Securities: Approximately $1.65 billion as of the end of fiscal year 2025.</li></ul><h3>Outlook / Guidance</h3>Exelixis anticipates 2026 to be a significant year of clinical, regulatory, and commercial progress, with continued growth in the cabozantinib business and the potential launch of a second oncology franchise with zanzalintinib. The company aims to establish lasting franchises in renal cell carcinoma, neuroendocrine tumors, and colorectal cancer, driving sustained growth and improving standards of care for cancer patients.

Exelixis | 8-K: FY2026 Revenue Misses Estimate at USD 2.32 B