Xeris Biopharma Holdings, Inc. (NASDAQ: XERS) has reported record-breaking financial performance for the fourth quarter and full year 2025. The company achieved a record quarterly total revenue of $85.8 million and full-year total revenue of $291.8 million, representing increases of 42.8% and 43.7% respectively, compared to the same periods in 2024.
The breakdown of the product revenue for the fourth quarter and full year 2025 is as follows: Recorlev® net revenue: $45.3 million for the fourth quarter (100% increase compared to Q4 2024) and $139.3 million for the full year (117% increase compared to 2024). Gvoke® net revenue: $24.6 million for the fourth quarter (6% increase compared to Q4 2024) and $94.1 million for the full year (14% increase compared to 2024). Keveyis® net revenue: $12.8 million for the fourth quarter (15% increase compared to Q4 2024) and $47.6 million for the full year (4% decrease compared to 2024). Other product revenue: $0.7 million for the fourth quarter and $2.0 million for the full year.
These results were driven by increased patient demand for Recorlev® and Gvoke®, partially offset by a decrease in net revenue for Keveyis® due to unfavorable net pricing.
The company's 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. For the full year 2025, Xeris reported a net income of $0.6 million, a significant improvement from a net loss of $54.8 million in 2024.
Looking ahead to 2026, Xeris expects total revenue to range from approximately $375 million to $390 million, reflecting a further 30% growth at the midpoint. The company also anticipates an increase in R&D expenses by approximately $25 million and an increase in SG&A expenses by approximately $45 million compared to 2025. Furthermore, Xeris projects an improvement in gross margin compared to 2025.
In terms of financial position, Xeris reported total shares outstanding of 172,431,290 as of February 27, 2026.
Xeris Biopharma Holdings, Inc. is a fast-growing biopharmaceutical company committed to developing and commercializing innovative products across a range of therapies. The company's current portfolio includes Recorlev®, Gvoke®, and Keveyis®, with a pipeline of development programs led by XP-8121, a phase 3-ready, once-weekly subcutaneous injection for hypothyroidism, as well as multiple early-stage programs leveraging Xeris’ technology platforms.
The company will host a conference call and webcast to discuss its financial and operational results at 8:30 a.m. Eastern Time today.
For further details and financial tables, please refer to the original press release issued by Xeris Biopharma Holdings, Inc. The market has reacted to these announcements by moving the company's shares 1.48% to a price of $7.52. For the full picture, make sure to review Xeris Biopharma's 8-K report.
