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Xeris Biopharma Holdings (XERS) investor relations material
Xeris Biopharma Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved record Q3 2025 with total revenue of $74.4 million, up 40% year-over-year, driven by robust demand across all products, especially Recorlev.
Recorlev revenue surged 109% year-over-year to $37 million, leading portfolio growth.
Net income for Q3 2025 was $0.6 million, marking the first-ever quarterly profit and a reversal from a $15.7 million loss in Q3 2024.
Adjusted EBITDA for Q3 was $17.4 million, improving by over $20 million year-over-year.
Major commercial expansion underway, nearly doubling sales and support teams to drive future growth.
Financial highlights
Q3 2025 product revenue: Recorlev $37.0M (+109%), Gvoke $25.2M (+10%), Keveyis $11.9M (-2%).
Total revenue for Q3 2025: $74.4 million, up from $54.3 million in Q3 2024.
Gross margin improved to 85%, driven by favorable product mix and lower cost of goods sold.
R&D expenses rose to $7.5 million in Q3, up $1.6 million year-over-year; SG&A increased 3%.
Cash and cash equivalents at September 30, 2025 were $91.6 million, up from $71.6 million at year-end 2024.
Outlook and guidance
Full-year 2025 revenue guidance raised to $285–$290 million, reflecting 42% growth at midpoint.
Management expects to continue incurring net losses for at least the next 12 months but current cash resources are sufficient for operations and capital expenditures for at least the next year.
Expect increased SG&A and R&D spend in Q4 and beyond to support Recorlev expansion and XP-8121 phase III trial.
Committed to maintaining positive adjusted EBITDA despite increased investments.
Anticipate continued strong revenue and profitability into 2026, with Recorlev positioned for further growth.
XP-8121: Detail pre-Phase III commercial readiness
New RECORLEV sales force optimal productivity timing
Adjusted EBITDA positive commitment with rising spend
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Next Xeris Biopharma Holdings earnings date
Q4 20259 Mar, 2026
Next Xeris Biopharma Holdings earnings date
Q4 20259 Mar, 2026
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Frequently asked questions
Xeris Biopharma Holdings Inc. is a pharmaceutical company focused on developing and commercializing innovative therapies for patients with endocrine and metabolic disorders, as well as other conditions requiring injectable treatments. The company's technology platform enables the formulation of ready-to-use injectable medications that do not require reconstitution, refrigeration, or complex preparation. The company is headquartered in Chicago, Illinois, and its shares are listed on the NASDAQ.
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