SHARPE
Reported results
- Total revenues for the third quarter of 2026 were $658.7 million, compared to $597.8 million for the third quarter of 2025.
- Net product revenues for the third quarter of 2026 were $604.9 million, compared to $542.9 million for the third quarter of 2025.
- GAAP net income for the third quarter of 2026 was $218.1 million, or $0.85 per diluted share, compared to GAAP net income of $193.6 million, or $0.69 per diluted share, for the third quarter of 2025.
- Non-GAAP net income for the third quarter of 2026 was $240.2 million, or $0.94 per diluted share, compared to non-GAAP net income of $217.9 million, or $0.78 per diluted share, for the third quarter of 2025.
- Research and development expenses for the third quarter of 2026 were $209.5 million, compared to $199.2 million for the third quarter of 2025.
- Selling, general and administrative expenses for the third quarter of 2026 were $154.6 million, compared to $123.7 million for the third quarter of 2025.
Guidance
- Full year 2026 total revenues guidance: $2.500 billion - $2.550 billion
- Full year 2026 net product revenues guidance: $2.300 billion - $2.350 billion
- Full year 2026 cost of goods sold, % of net product revenues guidance: ~4%
- Full year 2026 research and development expenses guidance: $825 million - $875 million
- Full year 2026 selling, general and administrative expenses guidance: $575 million - $625 million
- Full year 2026 effective tax rate guidance: 16% - 18%
Notes
Exelixis uses a 52- or 53-week fiscal year that generally ends on the Friday closest to December 31. For convenience, references to the fiscal period ended October 2, 2026 are indicated as being as of and for the period ended September 30, 2026.
Price and volatility reaction
The stock moved +4.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -13.7 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 66.2 | 2026-10-29 |
| Close after release | 69.39 | 2026-10-30 |
| Realised move | +4.8% | close to close |
| 30d ATM IV change | -13.7 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.