Xeris Biopharma (XERS) Q4 2025 Earnings Transcript

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Monday, Mar. 2, 2026 astatine 8:30 a.m. ET

• Chief Executive Officer — John Shannon

• Chief Financial Officer — Steven Pieper

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John Shannon: Thanks, Allison, and bully morning, everyone. We expected 2025 to beryllium a transformational twelvemonth for Xeris and it was. Our show extended good beyond our unthinkable 4th fourth and afloat twelvemonth gross growth. Across the organization, we executed with subject and focus, advancing our strategical priorities and driving measurable advancement passim the business. Most importantly, we reached a defining milestone, fiscal self-sustainability. Our advancement crossed the full concern has enabled america to everlastingly enactment down america the question of our quality to self-fund our strategy, our pipeline and our future. Now arsenic we participate 2026, we bash truthful with wide momentum positioned to thrust accelerated gross growth, execute connected our precocious pipeline and thoughtfully hole for adjacent greater opportunities ahead.

I'm excited and assured that our semipermanent strategy is firmly connected track. Before diving into the details, I privation to admit and convey the full Xeris team. The show you delivered successful 2025 and the spot of our outlook for 2026 is simply a nonstop effect of your bonzer commitment, absorption and disciplined execution crossed each portion of our enterprise. Now to the results. Fourth 4th full gross grew 43% year-over-year to astir $86 million. This outstanding quarterly effect was driven by beardown request crossed each 3 products. For the afloat year, full gross accrued by an unthinkable 44% to $292 million. This show was broad-based and strengthened arsenic the twelvemonth unfolded.

Most importantly, it fueled our quality to present astir $60 cardinal successful adjusted EBITDA and for the archetypal time, nett income connected a afloat twelvemonth basis. The exceptional show we delivered successful the 4th fourth was nary aberration. It reflects accordant advancement passim the twelvemonth arsenic we executed with expanding subject and effectiveness. As a result, we exited 2025 with beardown momentum, accrued assurance successful our strategy and a importantly stronger operating platform. With that, fto maine locomotion you done show crossed our 3 commercialized products. First, Recorlev. Recorlev remained the superior maturation motor for Xeris successful 2025 and delivered different beardown 4th successful Q4.

Recorlev's maturation was driven by continued enlargement of the diligent base, ending the twelvemonth astatine astir 700 patients astir doubling the fig of patients connected therapy from a year-end 2024. This maturation reflects expanding prescriber consciousness successful a precise dynamic marketplace coupled with expanding assurance successful Recorlev's differentiated objective profile. Turning to this year. In January, we astir doubled our Recorlev commercialized squad importantly expanding our income and diligent enactment organizations to summation the quantity and prime of our wellness attraction supplier and diligent interactions.