Overview

• U.S. biopharma firm's Q1 product revenue rose 43% yr/yr, beating analyst expectations

• Net income turned positive in Q1 from a loss a year earlier

• Company raised lower end of 2026 revenue guidance to $380 mln-$390 mln

Outlook

• Xeris Biopharma raises 2026 revenue guidance to $380 mln-$390 mln

• Company expects commercial team expansion impact in H2 2026 and beyond

• Xeris anticipates Phase 3 initiation for XP-8121 later in 2026

Result Drivers

• RECORLEV GROWTH - Nearly doubled net revenue yr/yr, driven by increased patient demand and greater prescriber awareness, per CEO John Shannon

• COMMERCIAL TEAM EXPANSION - Expansion completed in Q1, with expected greater impact in H2 and beyond, per CEO

• FAVORABLE PRODUCT MIX - Gross margin improved to 87%, up from 85% last year, primarily due to favorable product mix dynamics

Company press release: ID:nBw6qT232a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Product Revenue	Beat	$82.45 mln	$79.99 mln (6 Analysts)
Q1 EPS		$0.01
Q1 Net Income		$2.23 mln
Q1 Operating Income		$7.92 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Xeris Biopharma Holdings Inc is $10.00, about 57% above its May 6 closing price of $6.37

• The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 41 three months ago

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