Exelixis, Inc. filed its quarterly report on Form 10-Q with the SEC for the fiscal quarter ended October 2, 2026, reporting third-quarter net income of $218.1 million and nine-month net product revenues of $1.73 billion.

Key Highlights

  • Q3 net income: $218,095 thousand, up from $193,578 thousand in the same quarter of 2025, according to the filing.
  • Q3 total revenues: $658,696 thousand, compared with $597,755 thousand in Q3 2025, driven by net product revenues of $604,924 thousand.
  • Nine-month net product revenues: $1,732,926 thousand versus $1,576,227 thousand for the same period of 2025.
  • Diluted EPS: $0.85 for Q3 2026, compared with $0.69 for Q3 2025; nine-month diluted EPS was $2.46 versus $1.90.
  • Share repurchases: The company repurchased 21,015 thousand shares for $1,001,079 thousand in the nine months ended September 30, 2026.
  • Total assets: $2,513,489 thousand at September 30, 2026, down from $2,844,423 thousand at December 31, 2025.
  • Shares outstanding: 244,010,895 as of October 19, 2026, per the filing's cover page.

Exelixis Financial Results for the Quarter Ended September 30, 2026

According to the Form 10-Q filed by Exelixis, Inc. (NASDAQ:EXEL) for the quarterly period ended October 2, 2026, the company reported net income of $218,095 thousand for the three months ended September 30, 2026, compared with $193,578 thousand in the prior-year quarter. Total revenues reached $658,696 thousand, with net product revenues of $604,924 thousand and collaboration revenues of $53,772 thousand. For the nine months ended September 30, 2026, total revenues were $1,898,198 thousand versus $1,721,463 thousand in the comparable 2025 period.

The filing reported total operating expenses of $390,273 thousand for Q3 2026, compared with $361,215 thousand in Q3 2025. Research and development expenses were $209,481 thousand and selling, general and administrative expenses were $154,559 thousand for the quarter. Income from operations was $268,423 thousand for Q3 2026 versus $236,540 thousand for Q3 2025. The provision for income taxes for the quarter was $64,690 thousand.

On the balance sheet, total assets stood at $2,513,489 thousand as of September 30, 2026, compared with $2,844,423 thousand at December 31, 2025. The company's accumulated deficit increased to $258,802 thousand from $76,830 thousand at year-end 2025, reflecting the impact of share repurchases. The filing disclosed that in the nine months ended September 30, 2026, repurchases of common stock totaled $1,001,079 thousand, retiring 21,015 thousand shares. Stock-based compensation for the nine-month period was $90,729 thousand. Cash and cash equivalents were $304,774 thousand at September 30, 2026, down from $482,488 thousand at December 31, 2025.

What Was Disclosed

Exelixis filed a Form 10-Q for the quarter ended October 2, 2026, disclosing Q3 and nine-month income statements, balance sheet data, and stockholders' equity changes, including $1.0 billion in share repurchases year-to-date and rising product revenues.