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Xeris Biopharma (XERS) Financials

Xeris Biopharma logo
$8.70 +0.10 (+1.16%)
As of 08/21/2026 04:00 PM Eastern
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Annual Income Statements for Xeris Biopharma

Annual Income Statements for Xeris Biopharma

This table shows Xeris Biopharma's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -91 -123 -95 -62 -55 0.55
Consolidated Net Income / (Loss)		 -91 -123 -95 -62 -55 0.55
Net Income / (Loss) Continuing Operations		 -91 -123 -95 -62 -55 0.55
Total Pre-Tax Income 		-91 -123 -96 -64 -57 0.55
Total Operating Income		 -84 -115 -82 -44 -34 25
Total Gross Profit		 11 36 88 135 166 249
Total Revenue		 20 50 110 164 203 292
Operating Revenue		 20 50 110 164 203 292
Total Cost of Revenue		 9.05 13 23 29 37 43
Operating Cost of Revenue		 9.05 13 23 29 37 43
Total Operating Expenses		 95 151 170 179 200 224
Selling, General & Admin Expense		 74 126 138 146 163 182
Research & Development Expense		 21 25 21 22 26 31
Amortization Expense		 0.00 0.55 11 11 11 11
Total Other Income / (Expense), net		 -7.70 -7.57 -14 -19 -23 -24
Interest Expense		 11 7.18 15 29 33 29
Interest & Investment Income		 2.97 0.31 2.58 4.75 5.32 4.74
Other Income / (Expense), net		 -0.01 -0.70 -1.40 5.20 4.40 0.00
Income Tax Expense		 -0.11 0.00 -1.42 -1.25 -2.27 0.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 0.01 0.04 -0.01 0.00 0.00 0.00
Basic Earnings per Share		 ($2.14) ($1.55) ($0.70) ($0.45) ($0.37) $0.00
Weighted Average Basic Shares Outstanding		 42.64M 79.03M 135.63M 137.67M 146.77M 160.43M
Diluted Earnings per Share		 ($2.14) ($1.55) ($0.70) ($0.45) ($0.37) $0.00
Weighted Average Diluted Shares Outstanding		 42.64M 79.03M 135.63M 137.67M 146.77M 172.74M
Weighted Average Basic & Diluted Shares Outstanding		 42.64M 79.03M 137.29M 140.45M 153.94M 172.43M

Quarterly Income Statements for Xeris Biopharma

This table shows Xeris Biopharma's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -13 -19 -15 -16 -5.13 -9.22 -1.93 0.62 11 2.23 -31
Consolidated Net Income / (Loss)		 -13 -19 -15 -16 -5.11 -9.22 -1.93 0.62 11 2.23 -31
Net Income / (Loss) Continuing Operations		 -13 -19 -15 -16 -5.11 -9.22 -1.93 0.62 11 2.23 -31
Total Pre-Tax Income 		-14 -19 -14 -19 -5.11 -9.22 -1.93 0.62 11 2.23 -31
Total Operating Income		 -9.84 -14 -8.19 -13 1.68 -3.09 4.48 6.73 17 7.92 5.17
Total Gross Profit		 29 35 40 41 51 51 60 63 75 73 80
Total Revenue		 44 41 48 54 60 60 72 74 86 83 92
Operating Revenue		 44 41 48 54 60 60 72 74 86 83 92
Total Cost of Revenue		 15 5.97 7.79 14 9.48 8.73 12 11 11 11 13
Operating Cost of Revenue		 - 5.97 7.79 14 9.48 8.73 12 11 11 11 13
Total Operating Expenses		 39 49 48 54 49 54 55 57 58 65 74
Selling, General & Admin Expense		 38 38 40 45 40 44 44 46 48 53 61
Research & Development Expense		 6.38 7.82 5.76 5.89 6.09 7.75 8.06 7.48 7.87 8.78 11
Amortization Expense		 2.71 2.71 2.71 2.71 2.71 2.71 2.71 2.71 2.71 2.71 2.71
Total Other Income / (Expense), net		 -3.79 -4.43 -6.07 -6.17 -6.79 -6.13 -6.41 -6.11 -5.69 -5.68 -36
Interest Expense		 7.02 9.72 7.96 7.79 7.70 7.31 7.36 7.27 7.15 6.88 38
Interest & Investment Income		 1.11 1.92 1.29 1.20 0.91 1.18 0.95 1.16 1.46 1.20 1.46
Income Tax Expense		 -0.24 0.31 0.75 -3.32 - 0.00 0.00 0.00 - 0.00 0.00
Basic Earnings per Share		 ($0.10) ($0.14) ($0.10) ($0.11) ($0.02) ($0.06) ($0.01) $0.00 $0.07 $0.01 ($0.18)
Weighted Average Basic Shares Outstanding		 137.67M 140.51M 148.35M 148.99M 146.77M 152.45M 159.46M 163.65M 160.43M 170.52M 172.82M
Diluted Earnings per Share		 ($0.10) ($0.14) ($0.10) ($0.11) ($0.02) ($0.06) ($0.01) $0.00 $0.07 $0.01 ($0.18)
Weighted Average Diluted Shares Outstanding		 137.67M 140.51M 148.35M 148.99M 146.77M 152.45M 159.46M 177.62M 172.74M 177.63M 172.82M
Weighted Average Basic & Diluted Shares Outstanding		 140.45M 148.26M 149.00M 149.08M 153.94M 160.16M 161.48M 165.92M 172.43M 172.64M 182.32M

Annual Cash Flow Statements for Xeris Biopharma

This table details how cash moves in and out of Xeris Biopharma's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 18 30 59 -55 4.07 39
Net Cash From Operating Activities		 -81 -96 -103 -47 -37 29
Net Cash From Continuing Operating Activities		 -81 -96 -103 -47 -37 29
Net Income / (Loss) Continuing Operations		 -91 -123 -95 -62 -55 0.55
Consolidated Net Income / (Loss)		 -91 -123 -95 -62 -55 0.55
Depreciation Expense		 1.47 1.33 1.40 1.49 1.23 1.31
Amortization Expense		 1.06 1.92 13 13 14 15
Non-Cash Adjustments To Reconcile Net Income		 16 17 17 18 24 37
Changes in Operating Assets and Liabilities, net		 -8.34 6.53 -39 -16 -21 -25
Net Cash From Investing Activities		 -27 98 34 -6.00 4.88 -0.70
Net Cash From Continuing Investing Activities		 -27 98 34 -6.00 4.88 -0.70
Purchase of Property, Plant & Equipment		 -0.38 -1.09 -0.52 -2.26 -0.87 -0.70
Purchase of Investments		 -102 -43 0.00 -44 -34 0.00
Sale and/or Maturity of Investments		 75 104 35 40 40 0.00
Net Cash From Financing Activities		 126 27 127 -1.61 36 11
Net Cash From Continuing Financing Activities		 126 27 127 -1.61 36 11
Repayment of Debt		 -31 0.00 -49 -1.19 -12 0.00
Issuance of Debt		 95 0.00 146 0.00 50 0.00
Issuance of Common Equity		 67 28 31 0.55 1.24 11
Other Financing Activities, net		 0.07 -0.34 -0.46 -0.98 -3.25 0.70
Cash Interest Paid		 4.56 7.29 11 28 27 27

Quarterly Cash Flow Statements for Xeris Biopharma

This table details how cash moves in and out of Xeris Biopharma's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 21 -4.76 -5.09 1.53 12 -13 0.85 32 19 0.71 10.00
Net Cash From Operating Activities		 7.47 -20 -10 -8.31 1.98 -10 0.18 18 20 9.87 8.26
Net Cash From Continuing Operating Activities		 7.47 -20 -10 -8.31 1.98 -10 0.18 18 20 9.87 8.26
Net Income / (Loss) Continuing Operations		 -13 -19 -15 -16 -5.11 -9.22 -1.93 0.62 11 2.23 -31
Consolidated Net Income / (Loss)		 -13 -19 -15 -16 -5.11 -9.22 -1.93 0.62 11 2.23 -31
Depreciation Expense		 0.35 0.33 0.28 0.31 0.31 0.32 0.33 0.34 0.34 0.34 0.32
Amortization Expense		 3.29 3.28 3.38 3.43 3.57 3.67 3.66 3.69 3.73 3.76 3.79
Non-Cash Adjustments To Reconcile Net Income		 3.32 1.97 6.25 5.48 10 6.36 11 19 0.73 9.72 47
Changes in Operating Assets and Liabilities, net		 14 -6.89 -5.26 -1.78 -7.05 -11 -13 -4.82 4.28 -6.18 -12
Net Cash From Investing Activities		 15 -20 4.60 9.91 10 -0.01 -0.28 -0.07 -0.33 -0.33 -0.21
Net Cash From Continuing Investing Activities		 15 -20 4.60 9.91 10 -0.01 -0.28 -0.07 -0.33 -0.33 -0.21
Purchase of Property, Plant & Equipment		 -0.13 -0.16 -0.40 -0.09 -0.22 -0.01 -0.28 -0.07 -0.33 -0.33 -0.21
Net Cash From Financing Activities		 -1.23 35 0.66 -0.08 0.40 -3.14 0.94 14 -0.27 -8.84 1.94
Net Cash From Continuing Financing Activities		 -1.23 35 0.66 -0.08 0.40 -3.14 0.94 14 -0.27 -8.84 1.94
Issuance of Common Equity		 - - - - 0.53 0.00 - 9.17 0.69 7.33 1.59
Other Financing Activities, net		 -0.05 -2.98 -0.05 -0.08 -0.14 -3.14 0.11 4.68 -0.96 -16 0.36
Cash Interest Paid		 5.62 1.50 6.82 13 6.02 0.00 13 7.08 6.95 5.35 5.38

Annual Balance Sheets for Xeris Biopharma

This table presents Xeris Biopharma's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 159 304 345 323 323 384
Total Current Assets		 152 143 187 156 168 240
Cash & Equivalents		 38 67 122 67 72 111
Accounts Receivable		 6.88 17 31 39 40 51
Inventories, net		 8.35 18 25 39 48 69
Prepaid Expenses		 3.20 4.59 9.29 5.78 7.45 9.55
Plant, Property, & Equipment, net		 6.71 6.63 5.52 5.97 5.56 4.95
Total Noncurrent Assets		 0.23 155 152 160 150 138
Goodwill		 0.00 23 23 23 23 23
Intangible Assets		 0.00 131 121 110 99 88
Other Noncurrent Operating Assets		 0.23 0.83 8.72 28 28 27
Total Liabilities & Shareholders' Equity		 159 304 345 323 323 384
Total Liabilities		 125 209 299 329 353 370
Total Current Liabilities		 28 79 74 95 100 110
Short-Term Debt		 - - 0.00 19 15 0.00
Accounts Payable		 3.12 8.92 4.61 12 2.29 3.08
Accrued Expenses		 25 68 65 60 76 95
Other Current Liabilities		 0.32 1.99 4.24 4.66 7.17 11
Total Noncurrent Liabilities		 97 130 226 234 252 260
Long-Term Debt		 87 88 187 191 217 220
Other Noncurrent Operating Liabilities		 3.53 30 35 41 35 40
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 34 95 45 -6.78 -30 14
Total Preferred & Common Equity		 34 95 45 -6.78 -30 14
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 34 95 45 -6.78 -30 14
Common Stock		 371 555 600 610 642 685
Retained Earnings		 -337 -460 -555 -617 -672 -671
Accumulated Other Comprehensive Income / (Loss)		 0.01 -0.03 -0.02 -0.03 -0.03 -0.03

Quarterly Balance Sheets for Xeris Biopharma

This table presents Xeris Biopharma's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 321 329 328 337 332 321 315 335 370 392 412
Total Current Assets		 166 156 158 173 170 163 163 186 224 252 275
Cash & Equivalents		 51 46 46 63 58 59 58 59 92 112 122
Accounts Receivable		 31 30 46 37 42 41 46 53 54 56 58
Inventories, net		 29 37 38 41 43 45 53 67 67 74 81
Prepaid Expenses		 11 8.31 7.97 7.64 7.36 7.14 6.03 5.96 11 9.40 14
Plant, Property, & Equipment, net		 6.48 6.55 6.19 5.78 5.83 5.61 5.26 5.28 4.95 5.03 4.83
Total Noncurrent Assets		 149 166 164 158 156 153 147 144 141 135 132
Goodwill		 23 23 23 23 23 23 23 23 23 23 23
Intangible Assets		 118 115 112 107 104 102 96 94 91 85 83
Other Noncurrent Operating Assets		 8.62 28 28 28 28 28 28 27 28 27 27
Total Liabilities & Shareholders' Equity		 321 329 328 337 332 321 315 335 370 392 412
Total Liabilities		 291 315 324 346 351 349 351 354 371 379 422
Total Current Liabilities		 81 80 87 73 75 91 95 95 116 119 190
Short-Term Debt		 15 17 18 1.02 0.42 15 12 0.00 0.00 - 64
Accounts Payable		 12 12 12 7.09 5.80 7.45 6.35 9.46 6.53 11 9.34
Accrued Expenses		 50 48 54 37 40 62 70 78 101 51 58
Other Current Liabilities		 4.21 3.65 3.49 28 30 6.72 6.27 7.79 8.84 56 58
Total Noncurrent Liabilities		 210 235 237 273 276 258 256 259 255 260 232
Long-Term Debt		 188 188 190 230 230 216 218 219 219 221 189
Other Noncurrent Operating Liabilities		 19 44 44 40 42 42 38 40 35 39 43
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 30 14 3.87 -9.18 -19 -28 -35 -19 -0.86 13 -9.73
Total Preferred & Common Equity		 30 14 3.87 -9.18 -19 -28 -35 -19 -0.86 13 -9.73
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 30 14 3.87 -9.18 -19 -28 -35 -19 -0.86 13 -9.73
Common Stock		 602 605 608 627 632 638 646 664 682 682 690
Retained Earnings		 -572 -591 -604 -636 -651 -667 -681 -683 -682 -669 -700
Accumulated Other Comprehensive Income / (Loss)		 -0.03 -0.08 -0.05 -0.04 -0.03 -0.02 -0.03 -0.02 -0.03 -0.02 -0.01

Annual Metrics And Ratios for Xeris Biopharma

This table displays calculated financial ratios and metrics derived from Xeris Biopharma's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 165,924,289.00
DEI Adjusted Shares Outstanding		 - - - - - 165,924,289.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 0.00
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -58 -81 -57 -31 -24 25
Return On Investment Capital (ROIC_SIMPLE)		 - - -24.70% -15.16% -11.63% 10.64%
Earnings before Interest and Taxes (EBIT)		 -84 -116 -83 -39 -29 25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -81 -113 -69 -25 -14 41
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -174 -87 -51 -24 33
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -13 81 110 131 131 123
Increase / (Decrease) in Invested Capital		 0.00 94 29 21 0.06 -7.89
Book Value per Share		 $0.79 $0.76 $0.33 ($0.05) ($0.20) $0.08
Tangible Book Value per Share		 $0.79 ($0.47) ($0.72) ($1.01) ($1.02) ($0.59)
Total Capital		 121 183 232 203 202 234
Total Debt		 87 88 187 210 232 220
Total Long-Term Debt		 87 88 187 191 217 220
Net Debt		 -47 -14 65 138 160 109
Capital Expenditures (CapEx)		 0.38 1.09 0.52 2.26 0.87 0.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.78 -39 -8.77 7.73 11 20
Debt-free Net Working Capital (DFNWC)		 124 64 113 80 82 131
Net Working Capital (NWC)		 124 64 113 61 67 131
Net Nonoperating Expense (NNE)		 33 42 37 31 31 24
Net Nonoperating Obligations (NNO)		 -47 -14 65 138 160 109
Total Depreciation and Amortization (D&A)		 2.53 3.25 14 14 15 16
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.55) ($0.70) ($0.45) ($0.37) $0.00
Adjusted Weighted Average Basic Shares Outstanding		 0.00 135.52M 135.63M 137.67M 146.77M 160.43M
Adjusted Diluted Earnings per Share		 $0.00 ($1.55) ($0.70) ($0.45) ($0.37) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 135.52M 135.63M 137.67M 146.77M 172.74M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($1.55) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 79.03M 137.29M 140.45M 153.94M 172.43M
Normalized Net Operating Profit after Tax (NOPAT)		 -58 -81 -57 -31 -24 17
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Xeris Biopharma

This table displays calculated financial ratios and metrics derived from Xeris Biopharma's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 165,924,289.00 172,431,290.00 172,642,055.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 165,924,289.00 172,431,290.00 172,642,055.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.07 0.01 -0.18
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 33.93% 22.42% 26.46% 12.31% 35.39% 47.94% 48.84% 37.06% - 38.27% 28.74%
EBITDA Growth		 39.69% 15.17% 66.55% -2,462.46% 236.54% 112.34% 315.97% 223.17% - 1,239.46% 9.73%
EBIT Growth		 28.19% 8.76% 50.15% -214.66% 121.78% 71.58% 159.11% 153.96% - 356.18% 15.42%
NOPAT Growth		 35.13% -7.29% 48.76% -162.43% 117.06% 78.31% 154.75% 174.58% - 465.97% 15.42%
Net Income Growth		 -3.56% -12.75% 24.38% -29.12% 61.81% 51.42% 87.15% 103.95% - 124.23% -1,513.12%
EPS Growth		 0.00% -16.67% 28.57% -22.22% 80.00% 57.14% 90.00% 100.00% - 116.67% -1,700.00%
Operating Cash Flow Growth		 146.35% 22.33% 24.71% 43.16% -73.56% 50.59% 101.76% 321.94% - 198.40% 4,440.11%
Free Cash Flow Firm Growth		 31.58% 85.27% 95.91% 106.60% 104.06% 36.55% -43.64% 309.13% - 615.67% 890.48%
Invested Capital Growth		 18.60% -2.44% -2.72% -8.41% 0.05% 1.51% 4.47% -4.90% - -10.07% -13.52%
Revenue Q/Q Growth		 -8.13% -8.45% 18.28% 12.91% 10.74% 0.03% 19.00% 3.97% - -3.12% 10.79%
EBITDA Q/Q Growth		 -1,095.01% -78.43% 46.09% -122.91% 163.68% -83.88% 843.81% 27.13% - -42.34% -22.68%
EBIT Q/Q Growth		 -94.63% -40.95% 30.26% -64.49% 113.47% -283.93% 245.05% 50.18% - -52.81% -34.65%
NOPAT Q/Q Growth		 -100.31% -44.75% 42.53% -57.48% 113.02% -284.04% 245.05% 114.54% - -52.81% -54.26%
Net Income Q/Q Growth		 -9.85% -41.75% 20.94% -4.89% 67.51% -80.32% 79.09% 132.21% - -79.84% -1,492.17%
EPS Q/Q Growth		 -11.11% -40.00% 28.57% -10.00% 81.82% -200.00% 83.33% 100.00% - -85.71% -1,900.00%
Operating Cash Flow Q/Q Growth		 151.14% -371.76% 49.03% 19.74% 123.78% -607.90% 101.81% 10,027.47% - -50.76% -16.28%
Free Cash Flow Firm Q/Q Growth		 44.26% 75.88% 69.95% 263.45% -65.76% -477.40% 31.98% 565.54% - -12.31% 4.26%
Invested Capital Q/Q Growth		 -10.30% 2.57% -0.09% -0.36% -2.01% 4.07% 2.82% -9.30% - -0.40% -1.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 65.93% 85.31% 83.79% 74.95% 84.23% 85.48% 83.37% 85.22% - 87.28% 86.41%
EBITDA Margin		 -9.18% -17.89% -8.16% -16.10% 9.26% 1.49% 11.83% 14.47% - 14.45% 10.09%
Operating Margin		 -22.17% -35.05% -17.03% -23.76% 2.79% -5.14% 6.27% 9.05% - 9.52% 5.62%
EBIT Margin		 -17.38% -26.76% -15.78% -22.98% 2.80% -5.14% 6.27% 9.05% - 9.52% 5.62%
Profit (Net Income) Margin		 -30.16% -46.71% -31.22% -29.00% -8.51% -15.34% -2.70% 0.83% - 2.69% -33.77%
Tax Burden Percent		 98.27% 101.64% 105.25% 82.56% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Interest Burden Percent		 176.62% 171.72% 188.00% 152.83% -304.35% 298.38% -43.02% 9.23% - 28.22% -601.22%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 -21.10% -30.95% -15.91% -22.31% 3.04% -5.92% 7.87% 18.49% - 23.18% 10.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 -27.52% -38.13% -22.60% -26.72% -1.18% -10.41% 4.63% 14.27% - 19.13% -13.83%
Return on Net Nonoperating Assets (RNNOA)		 -145.22% -458.31% 1,110.84% 332.00% 9.70% 73.92% -37.54% -141.66% - -242.93% 138.22%
Return on Equity (ROE)		 -166.32% -489.26% 1,094.93% 309.69% 12.73% 68.00% -29.67% -123.18% - -219.75% 148.32%
Cash Return on Invested Capital (CROIC)		 -42.57% -20.70% -16.40% -13.85% -18.05% -13.15% -9.39% 10.29% - 38.36% 34.11%
Operating Return on Assets (OROA)		 -8.54% -13.94% -8.67% -13.27% 1.76% -3.51% 4.63% 6.97% - 8.48% 5.05%
Return on Assets (ROA)		 -14.82% -24.33% -17.15% -16.75% -5.35% -10.47% -1.99% 0.64% - 2.39% -30.34%
Return on Common Equity (ROCE)		 -166.32% -489.26% 1,094.93% 309.69% 12.73% 68.00% -29.67% -123.18% - -219.75% 148.32%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 701.69% 308.85% 222.83% 0.00% 128.32% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.89 -9.97 -5.73 -9.03 1.18 -2.16 3.14 6.73 17 7.92 3.62
NOPAT Margin		 -15.52% -24.54% -11.92% -16.63% 1.96% -3.60% 4.39% 9.05% - 9.52% 3.93%
Net Nonoperating Expense Percent (NNEP)		 6.41% 7.18% 6.68% 4.42% 4.22% 4.49% 3.24% 4.22% - 4.05% 23.93%
Return On Investment Capital (ROIC_SIMPLE)		 -3.39% - - - 0.58% -1.11% 1.57% 3.08% 7.17% 3.38% 1.49%
Cost of Revenue to Revenue		 34.07% 14.69% 16.21% 25.05% 15.77% 14.52% 16.63% 14.78% - 12.72% 13.59%
SG&A Expenses to Revenue		 84.63% 94.44% 83.21% 82.86% 66.79% 73.22% 62.05% 62.46% - 63.93% 66.27%
R&D to Revenue		 14.38% 19.25% 11.98% 10.85% 10.14% 12.90% 11.26% 10.06% - 10.57% 11.58%
Operating Expenses to Revenue		 88.10% 120.36% 100.83% 98.71% 81.44% 90.62% 77.10% 76.17% - 77.76% 80.80%
Earnings before Interest and Taxes (EBIT)		 -7.72 -11 -7.58 -12 1.68 -3.09 4.48 6.73 17 7.92 5.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.08 -7.27 -3.92 -8.74 5.56 0.90 8.47 11 21 12 9.29
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 76.87 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Price to Revenue (P/Rev)		 1.98 1.81 1.84 2.27 2.49 3.80 3.04 4.94 - 3.18 4.08
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 83.29 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 1.20% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 3.53 3.38 3.63 4.39 5.09 7.46 6.48 11.36 - 9.06 12.37
Enterprise Value to Revenue (EV/Rev)		 2.82 2.65 2.68 3.13 3.28 4.57 3.69 5.42 - 3.52 4.47
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 146.59 56.14 - 21.31 28.32
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 147.13 - 30.91 40.94
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 210.21 - 30.91 58.49
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 136.61 - 22.87 26.47
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 107.55 - 22.36 33.63
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -30.97 -25.14 -11.97 -8.17 -7.84 -6.54 -11.33 -254.90 - 17.00 -25.95
Long-Term Debt to Equity		 -28.15 -25.02 -11.95 -7.63 -7.33 -6.20 -11.33 -254.90 - 17.00 -19.40
Financial Leverage		 5.28 12.02 -49.16 -12.42 -8.19 -7.10 -8.10 -9.93 - -12.70 -9.99
Leverage Ratio		 17.37 31.53 -117.01 -26.53 -17.74 -14.72 -17.27 -23.69 - -31.99 -25.71
Compound Leverage Factor		 30.68 54.14 -219.97 -40.55 53.99 -43.91 7.43 -2.19 - -9.03 154.58
Debt to Total Capital		 103.34% 104.14% 109.11% 113.95% 114.63% 118.05% 109.68% 100.39% - 94.45% 104.01%
Short-Term Debt to Total Capital		 9.40% 0.46% 0.20% 7.42% 7.46% 6.14% 0.00% 0.00% - 0.00% 26.26%
Long-Term Debt to Total Capital		 93.94% 103.68% 108.92% 106.54% 107.17% 111.90% 109.68% 100.39% - 94.45% 77.74%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Common Equity to Total Capital		 -3.34% -4.14% -9.11% -13.95% -14.63% -18.05% -9.68% -0.39% - 5.55% -4.01%
Debt to EBITDA		 -8.50 -9.86 -14.79 -9.64 -16.16 -37.08 35.32 8.54 - 4.25 4.77
Net Debt to EBITDA		 -5.57 -6.12 -9.82 -6.74 -11.17 -27.65 25.75 4.98 - 2.10 2.47
Long-Term Debt to EBITDA		 -7.73 -9.81 -14.77 -9.01 -15.11 -35.15 35.32 8.54 - 4.25 3.57
Debt to NOPAT		 -6.82 -7.33 -8.87 -7.32 -9.86 -14.59 -31.80 31.99 - 6.16 9.86
Net Debt to NOPAT		 -4.47 -4.55 -5.89 -5.12 -6.81 -10.88 -23.18 18.64 - 3.05 5.11
Long-Term Debt to NOPAT		 -6.20 -7.29 -8.85 -6.84 -9.21 -13.83 -31.80 31.99 - 6.16 7.37
Altman Z-Score		 -1.43 -1.35 -1.36 -1.45 -1.16 -0.64 -0.49 0.67 - 0.47 0.67
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.64 2.37 2.26 1.79 1.67 1.72 1.95 1.93 - 2.12 1.45
Quick Ratio		 1.17 1.71 1.59 1.21 1.12 1.10 1.18 1.25 - 1.42 0.95
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -27 -6.61 -1.99 3.25 1.11 -4.19 -2.85 13 25 22 23
Operating Cash Flow to CapEx		 5,659.85% -12,379.88% -2,606.55% -9,545.98% 897.73% -77,161.54% 65.23% 25,960.56% - 3,036.92% 3,953.59%
Free Cash Flow to Firm to Interest Expense		 -3.90 -0.68 -0.25 0.42 0.14 -0.57 -0.39 1.83 - 3.14 0.60
Operating Cash Flow to Interest Expense		 1.06 -2.09 -1.30 -1.07 0.26 -1.37 0.02 2.54 - 1.43 0.22
Operating Cash Flow Less CapEx to Interest Expense		 1.05 -2.11 -1.35 -1.08 0.23 -1.37 -0.01 2.53 - 1.39 0.21
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.49 0.52 0.55 0.58 0.63 0.68 0.74 0.77 - 0.89 0.90
Accounts Receivable Turnover		 4.68 5.02 4.99 4.30 5.10 5.32 5.15 5.61 - 6.14 6.04
Inventory Turnover		 0.90 0.84 0.93 1.02 0.85 0.85 0.79 0.73 - 0.70 0.61
Fixed Asset Turnover		 28.54 27.95 29.30 31.76 35.22 40.31 44.26 50.41 - 61.18 66.30
Accounts Payable Turnover		 3.54 3.07 4.26 4.35 5.32 5.89 5.73 5.88 - 4.99 4.79
Days Sales Outstanding (DSO)		 77.97 72.71 73.10 84.84 71.55 68.67 70.83 65.07 - 59.49 60.48
Days Inventory Outstanding (DIO)		 405.03 435.53 391.28 357.71 431.14 431.34 460.50 499.90 - 521.53 600.69
Days Payable Outstanding (DPO)		 103.03 118.84 85.72 83.90 68.65 61.98 63.73 62.07 - 73.22 76.19
Cash Conversion Cycle (CCC)		 379.97 389.41 378.67 358.66 434.04 438.02 467.59 502.90 - 507.79 584.98
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 131 134 134 134 131 136 140 127 123 122 121
Invested Capital Turnover		 1.36 1.26 1.33 1.34 1.55 1.65 1.80 2.04 - 2.43 2.57
Increase / (Decrease) in Invested Capital		 21 -3.36 -3.75 -12 0.06 2.03 5.99 -6.55 -7.89 -14 -19
Enterprise Value (EV)		 462 454 487 587 666 1,016 907 1,442 - 1,110 1,498
Market Capitalization		 325 310 334 425 505 845 748 1,314 - 1,000 1,367
Book Value per Share		 ($0.05) ($0.07) ($0.13) ($0.19) ($0.20) ($0.23) ($0.12) ($0.01) $0.08 $0.08 ($0.06)
Tangible Book Value per Share		 ($1.01) ($0.99) ($0.99) ($1.03) ($1.02) ($1.00) ($0.85) ($0.71) ($0.59) ($0.55) ($0.67)
Total Capital		 203 222 212 203 202 195 199 219 234 234 243
Total Debt		 210 231 231 231 232 230 219 219 220 221 253
Total Long-Term Debt		 191 230 230 216 217 218 219 219 220 221 189
Net Debt		 138 143 153 162 160 171 159 128 109 109 131
Capital Expenditures (CapEx)		 0.13 0.16 0.40 0.09 0.22 0.01 0.28 0.07 0.33 0.33 0.21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 7.73 14 18 17 11 22 31 16 20 21 27
Debt-free Net Working Capital (DFNWC)		 80 101 95 87 82 80 90 108 131 133 149
Net Working Capital (NWC)		 61 100 95 72 67 68 90 108 131 133 85
Net Nonoperating Expense (NNE)		 6.50 9.01 9.27 6.71 6.29 7.06 5.07 6.11 5.69 5.68 35
Net Nonoperating Obligations (NNO)		 138 143 153 162 160 171 159 128 109 109 131
Total Depreciation and Amortization (D&A)		 3.64 3.60 3.66 3.74 3.88 3.99 3.98 4.03 4.06 4.10 4.12
Debt-free, Cash-free Net Working Capital to Revenue		 4.72% 8.09% 9.76% 9.31% 5.27% 9.86% 12.65% 6.09% - 6.78% 8.12%
Debt-free Net Working Capital to Revenue		 48.92% 59.07% 52.52% 46.35% 40.54% 36.12% 36.75% 40.51% - 42.27% 44.41%
Net Working Capital to Revenue		 37.26% 58.47% 52.29% 38.31% 33.10% 30.74% 36.75% 40.51% - 42.27% 25.40%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.10) ($0.14) ($0.10) ($0.11) ($0.02) ($0.06) ($0.01) $0.00 $0.07 $0.01 ($0.18)
Adjusted Weighted Average Basic Shares Outstanding		 137.67M 140.51M 148.35M 148.99M 146.77M 152.45M 159.46M 163.65M 160.43M 170.52M 172.82M
Adjusted Diluted Earnings per Share		 ($0.10) ($0.14) ($0.10) ($0.11) ($0.02) ($0.06) ($0.01) $0.00 $0.07 $0.01 ($0.18)
Adjusted Weighted Average Diluted Shares Outstanding		 137.67M 140.51M 148.35M 148.99M 146.77M 152.45M 159.46M 177.62M 172.74M 177.63M 172.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 140.45M 148.26M 149.00M 149.08M 153.94M 160.16M 161.48M 165.92M 172.43M 172.64M 182.32M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.89 -9.97 -5.73 -9.03 1.18 -2.16 3.14 4.71 12 5.54 3.62
Normalized NOPAT Margin		 -15.52% -24.54% -11.92% -16.63% 1.96% -3.60% 4.39% 6.33% - 6.67% 3.93%
Pre Tax Income Margin		 -30.70% -45.95% -29.66% -35.13% -8.51% -15.34% -2.70% 0.83% - 2.69% -33.77%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.10 -1.12 -0.95 -1.60 0.22 -0.42 0.61 0.93 - 1.15 0.14
NOPAT to Interest Expense		 -0.98 -1.03 -0.72 -1.16 0.15 -0.30 0.43 0.93 - 1.15 0.10
EBIT Less CapEx to Interest Expense		 -1.12 -1.14 -1.00 -1.61 0.19 -0.42 0.57 0.92 - 1.10 0.13
NOPAT Less CapEx to Interest Expense		 -1.00 -1.04 -0.77 -1.17 0.12 -0.30 0.39 0.92 - 1.10 0.09
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Xeris Biopharma’s latest quarter shows real operating progress, but the balance sheet still carries a lot of leverage and accounting-heavy equity. In Q1 2026, the company posted revenue of $83.1 million, up from $85.8 million in Q4 2025 but well above the $60.1 million posted in Q1 2025. The company also generated $9.9 million in operating cash flow and $0.7 million in net cash growth during the quarter, which is a step forward for a biotech business that has historically burned cash.

Profitability improved meaningfully year over year. Q1 2026 net income came in at $2.2 million, compared with a $9.2 million loss in Q1 2025. Operating income also swung to $7.9 million from a $3.1 million operating loss a year ago. That said, the company’s bottom line remains sensitive to interest expense and non-operating items, which continue to absorb a large portion of gross profit.

The biggest positive trend is the revenue base. Over the last four quarters, revenue moved from $60.1 million in Q1 2025 to $71.5 million in Q2, $74.4 million in Q3, $85.8 million in Q4, and $83.1 million in Q1 2026. That suggests Xeris has been able to sustain a larger commercial footprint rather than depending on one-off quarter-to-quarter spikes.

  • Revenue growth remains solid year over year, with Q1 2026 sales up about 38% from Q1 2025.
  • Operating income turned positive, indicating improving core business efficiency.
  • Operating cash flow was positive at $9.9 million, a strong sign for liquidity and self-funding ability.
  • Cash and equivalents increased to $111.8 million, up from $91.6 million at the end of Q3 2025 and $58.4 million at the end of Q1 2025.
  • Gross profit stayed strong at $72.6 million, showing the company is still keeping a large share of revenue after cost of goods sold.
  • SG&A remains very high at $53.1 million, so the company still needs scale to keep margins expanding.
  • R&D expense was $8.8 million, suggesting continued investment in pipeline and product development.
  • Shares outstanding remain elevated, with diluted weighted average shares of 177.6 million in Q1 2026 versus 152.4 million in Q1 2025.
  • Long-term debt remains large at $221.2 million, creating ongoing interest burden and balance-sheet risk.
  • Equity is still thin at $13.0 million, which means the balance sheet is highly leveraged despite the cash build.

There are also some caution flags in the cash flow statement. The company paid $5.3 million in cash interest in Q1 2026, compared with $7.0 million in Q4 2025 and $13.1 million in Q2 2025. While interest costs appear to be coming down, they are still large relative to earnings and can quickly pressure net income if operating performance softens.

Looking at the multi-year trend, Xeris has clearly improved from 2023 and early 2024. In 2023 and much of 2024, the company frequently reported losses and negative operating cash flow. By late 2025 and early 2026, it was producing positive quarterly earnings and consistent operating cash flow. That’s a meaningful turnaround. However, the company’s heavy debt load, large accumulated deficit, and reliance on equity issuance and financing activities mean the turnaround is not yet fully de-risked.

Bottom line: Xeris Biopharma appears to be in a better operating position than it was a year ago, with stronger sales, positive operating income, and healthier cash generation. But investors should still watch leverage, interest expense, and dilution closely, because those remain the main risks to the story.

08/23/26 07:13 PM ETAI Generated. May Contain Errors.

Xeris Biopharma Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Xeris Biopharma's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Xeris Biopharma's net income appears to be on a downward trend, with a most recent value of $554 thousand in 2025, falling from -$91.14 million in 2020. The previous period was -$54.84 million in 2024. See where experts think Xeris Biopharma is headed by visiting Xeris Biopharma's forecast page.

Xeris Biopharma's total operating income in 2025 was $24.90 million, based on the following breakdown:
  • Total Gross Profit: $249.28 million
  • Total Operating Expenses: $224.38 million

Over the last 5 years, Xeris Biopharma's total revenue changed from $20.16 million in 2020 to $291.85 million in 2025, a change of 1,348.0%.

Xeris Biopharma's total liabilities were at $369.84 million at the end of 2025, a 4.9% increase from 2024, and a 195.0% increase since 2020.

In the past 5 years, Xeris Biopharma's cash and equivalents has ranged from $37.60 million in 2020 to $121.97 million in 2022, and is currently $111.04 million as of their latest financial filing in 2025.

Over the last 5 years, Xeris Biopharma's book value per share changed from 0.79 in 2020 to 0.08 in 2025, a change of -89.6%.


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Financial statements for NASDAQ:XERS last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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