Xeris Biopharma Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Xeris Biopharma Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	20.4	49.6	110	164	203	292
Cost of revenue	9.33	13.3	22.6	28.6	36.8	42.6
Gross profit	11.1	36.3	87.6	135	166	249
Research and development	20.9	25.2	21	22.3	25.6	31.2
Selling, general and administrative	73.7	126	138	146	163	182
Operating income	-83.5	-115	-81.9	-44	-33.6	24.9
Interest expense	10.7	7.18	14.1	26.6	30.5	29.1
Interest income	2.97	0.31	2.58	4.75	5.32	4.74
Other non-operating income	-7.7	-7.57	-14.1	-19.5	-23.5	-24.3
Pre-tax income		-123	-96.1	-63.5	-57.1	0.55
Income tax	-0.11	0	-1.42	-1.25	-2.27	0
Net income	-91.1	-123	-94.7	-62.3	-54.8	0.55
EBITDA	-82.1	-114	-80.5	-42.5	-32.4	26.2
EPS, basic	-2.14	-1.55	-0.70	-0.45	-0.37	0.00
EPS, diluted	-2.14	-1.55	-0.70	-0.45	-0.37	0.00
Shares, basic (weighted)	42.6	79	136	138	147	160
Shares, diluted (weighted)	42.6	79	136	138	147	173

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	37.6	67.3	122	67.4	71.6	111
Short-term investments	96.2	35.2	0	5	0
Receivables	6.88	17.5	30.8	39.2	40.4	51.1
Inventory	8.35	18.1	24.7	38.8	48.2	68.7
Other current assets	3.2	4.59	9.29	5.78	7.45	9.55
Total current assets	152	143	187	156	168	240
Property, plant and equipment	6.71	6.63	5.52	5.97	5.56	4.95
Lease right-of-use assets		0	3.99	23.2	22.6	22.1
Goodwill	0	22.9	22.9	22.9	22.9	22.9
Intangible assets	0	131	121	110	98.9	88.1
Other non-current assets	0.23	0.83	4.73	4.54	5.41	5.22
Total assets	159	304	345	323	323	384
Accounts payable	3.12	8.92	4.61	11.6	2.29	3.08
Accrued liabilities	15.9	49.1	36.8	23.5	27.7	33.2
Short-term debt				0	15.1	0
Total current liabilities	28.2	79	73.6	95.2	100	110
Long-term debt				191	217	220
Lease liabilities		0	9.4	34.8	33.3	31.5
Other non-current liabilities	3.53	1.68	0.03	4.85	1.97	8.4
Total liabilities	125	209	299	329	353	370
Total debt	87	88.1	187	191	232	220
Paid-in capital	371	555	600	610	642	685
Retained earnings	-337	-460	-555	-617	-672	-671
Other comprehensive income	0.01	-0.03	-0.02	-0.03	-0.03	-0.03
Shareholders' equity	33.8	95.2	45.2	-6.78	-29.6	13.7
Total equity	33.8	95.2	45.2	-6.78	-29.6	13.7
Total liabilities and equity	159	304	345	323	323	384
Shares outstanding	59.6	125	136	138	149	166

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-91.1	-123	-94.7	-62.3	-54.8	0.55
Depreciation and amortization	1.47	1.33	1.4	1.49	1.23	1.31
Stock-based compensation	8.27	11.4	12.2	10.7	18.4	22.4
Deferred income tax		0	-1.42	-1.25	-2.27	0
Change in receivables	-2.18	-6.24	-13.4	-8.37	-1.22	-10.6
Change in inventory	-5.14	-7.42	-7.47	-14.8	-8.78	-19.3
Change in payables	-2.49	5.53	-4.32	6.96	-9.61	-0.07
Cash from operations	-80.6	-95.5	-103	-47	-37	28.6
Capital expenditures	-0.38	-1.09
Purchases of investments	-102	-43	0	-43.7	-34.5	0
Sales and maturities of investments	74.7	104	35	40	40.2	0
Cash from investing	-27.4	98	34.5	-6	4.88	-0.7
Debt issued	94.8	0	146	0	0
Debt repaid	-25.1	0	-43.5	0	0
Stock issued	65.9	27	30	0	0	11.6
Cash from financing	126	27.2	127	-1.61	36.2	11.4
Exchange rate effect	-0.02	-0	0	0
Net change in cash	18.1	29.7	59	-54.6	4.07	39.3
Free cash flow	-80.9	-96.6
Interest paid	4.56	7.29	10.9	27.7	26.9	27.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.10 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	86.6%	Gross profit / revenue.
Operating margin	10.9%	Operating income / revenue.
EBITDA margin	11.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-5.1%	Net income / revenue.
Operating cash flow margin	16.9%	Cash from operations / revenue.
Return on assets (ROA)	-4.2%	Net income / average total assets.
Return on invested capital (ROIC)	23.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	10.4%	Research and development expense / revenue.
SG&A / revenue	62.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	8.4%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	43.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	38.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	70.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	50.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	41.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	86.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 3y	-32.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-16.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	18.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	19.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	17.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	8.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	32.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.45x	Current assets / current liabilities.
Quick ratio	0.95x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.64x	(Cash + short-term investments) / current liabilities.
Debt / assets	61.3%	Total debt / total assets.
Liabilities / assets	102.4%	Total liabilities / total assets.
Net debt	$130.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.45x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.30x	Operating income / interest expense.
Working capital	$85.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	25.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$115.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.81x	Revenue / average total assets.
Fixed asset turnover	69.4x	Revenue / average property, plant and equipment.
Inventory turnover	0.56x	Cost of revenue / average inventory.
Days inventory	656 days	365 x average inventory / cost of revenue.
Receivables turnover	5.77x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
Days payables	76 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	644 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.10	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$1.94	Revenue / diluted weighted shares.
Operating cash flow per share	$0.33	Cash from operations / diluted weighted shares.
Book value per share	-$0.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.66	Tangible book value / shares outstanding.
Cash per share	$0.70	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.66B	Share price x shares outstanding.
Enterprise value	$1.79B	Market cap + total debt - cash - short-term investments.
P/S	4.95x	Market cap / revenue.
P/OCF	29.3x	Market cap / cash from operations, when positive.
EV/Sales	5.34x	Enterprise value / revenue.
EV/EBIT	48.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	47.2x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-1.0%	Net income / market cap (the inverse of P/E).

What was Xeris Biopharma Holdings, Inc.'s revenue in fiscal 2025?

Xeris Biopharma Holdings, Inc. reported revenue of $291.8M for fiscal 2025, 43.7% higher than the year before.

Was Xeris Biopharma Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $554.0K, a net margin of 0.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Xeris Biopharma Holdings, Inc.