---
schema_version: "secwatch.filing_event.v1"
accession: "0000939767-26-000019"
form_type: "8-K"
ticker: "EXEL"
cik: "0000939767"
company_name: "EXELIXIS, INC."
filed_at: "2026-02-10T23:59:59+00:00"
generated_at: "2026-05-16T03:47:13.530268+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Exelixis Q4 revenue $599M, diluted EPS $0.88; cabozantinib franchise up 17% in FY2025

## Summary
- Q4 2025 total revenue $598.7M vs $566.8M YoY; GAAP diluted EPS $0.88 vs $0.48.
- FY2025 net product revenue $2.123B, up from $1.809B, driven by cabozantinib volume growth.
- GAAP net income $782.6M in FY2025 ($2.78 diluted EPS); non-GAAP $869.5M ($3.08 diluted EPS).
- R&D expenses fell to $825M (down 9.4% YoY); SG&A rose 5.4% to $518.7M.
- NDA for zanzalintinib in mCRC accepted; STELLAR-303/304 readouts and trials expected in 2026.

## SEC filing metadata
- accession: 0000939767-26-000019
- form_type: 8-K
- ticker: EXEL
- cik: 0000939767
- company_name: EXELIXIS, INC.
- filed_at: 2026-02-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/939767/000093976726000019/0000939767-26-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/939767/000093976726000019/exel-20260210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939767-26-000019
- JSON: https://secwatch.observer/filing/0000939767-26-000019.json
- Plain text: https://secwatch.observer/filing/0000939767-26-000019.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.