Xeris Biopharma Holdings, Inc. (XERS) reported record fourth-quarter and full-year 2025 results, underscoring strong momentum across its portfolio of therapies. The company also issued guidance for 2026, projecting continued revenue growth.
For the fourth quarter of 2025, Xeris posted total revenue of $85.5 million, a sharp increase of 43% compared with $60.1 million in the same quarter of 2024.Adjusted earnings per share came in at $0.06, compared with $0.03 from the year ago quarter.
Product revenue
•Recorlev net revenue was $45.3 million - an increase of approximately 100% from $22.64 million compared to the fourth quarter of 2024. This growth was due to increased patient demand.
•Gvoke net revenue was $24.6 million - an increase of approximately 6% compared t0 $23.26 million from the fourth quarter of 2024. The increase was due to favorable net pricing.
•Keveyis net revenue was $12.8 million - an increase of approximately 15% compared to $11.12 million from the fourth quarter of 2024. This growth was due to increased patient demand.
Net income for the fourth quarter was $11.1 million, compared to a net loss of $5.1 million in the same period last year.
Adjusted EBITDA1 for the fourth quarter was $25.1 million, an improvement of $16.8 million compared to the fourth quarter of 2024.
For the full year 2025, total revenue climbed to $292 million, up 44% from $203 million in 2024. This strong growth was driven by expanding adoption of its commercial products, including Recorlev and Gvoke.
•Recorlev net revenue was $139.3 million - an increase of approximately 117% compared to $64.2 million to the year ended December 31, 2024. This growth was due to increased patient demand.
•Gvoke net revenue was $94.1 million - an increase of approximately 14% compared to $82.8 million the year ended December 31, 2024. The increase was due to higher patient demand and favorable net pricing.
•Keveyis net revenue was $47.6 million - a decrease of approximately 4% compared to $49.53 million the year ended December 31, 2024. The decrease was due to unfavorable net pricing, partially offset by higher patient demand.
Net income for the year ended December 31, 2025, was $0.6 million, compared to a net loss of $54.8 million in the prior year.
Adjusted EBITDA1 for the year ended December 31, 2025, was $59.4 million, an improvement of $58.2 million compared to the year ended December 31, 2024.
Total Shares Outstanding were 172,431,290 on February 27, 2026.
Looking ahead, Xeris provided 2026 revenue guidance of $375 million to $390 million, representing growth of approximately 28% to 34% over 2025 revenue of $292 million.
XERS has traded between $3.59 and $10.08 over the past year. The stock is currently trading at $6.44, up 5%.
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