$EXEL
EXELIXIS, INC.

2023 Q4 Form 10-Q Financial Statement

#000093976723000114 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $479.7M $471.9M
YoY Change 13.15% 14.62%
Cost Of Revenue $21.75M $18.77M
YoY Change 36.64% 22.67%
Gross Profit $457.9M $453.1M
YoY Change 12.23% 14.31%
Gross Profit Margin 95.46% 96.02%
Selling, General & Admin $131.4M $138.1M
YoY Change 10.22% 20.14%
% of Gross Profit 28.71% 30.49%
Research & Development $244.7M $332.6M
YoY Change -27.36% 67.27%
% of Gross Profit 53.43% 73.39%
Depreciation & Amortization $6.517M $6.300M
YoY Change 9.6% 11.25%
% of Gross Profit 1.42% 1.39%
Operating Expenses $376.1M $470.7M
YoY Change -17.53% 50.0%
Operating Profit $81.79M -$17.58M
YoY Change -270.12% -121.28%
Interest Expense $21.39M $23.10M
YoY Change 25.9% 143.21%
% of Operating Profit 26.15%
Other Income/Expense, Net -$137.0K $289.0K
YoY Change -59.35% -518.84%
Pretax Income $103.0M $5.800M
YoY Change -427.87% -93.7%
Income Tax $17.52M $4.777M
% Of Pretax Income 17.0% 82.36%
Net Earnings $85.52M $1.041M
YoY Change -383.43% -98.58%
Net Earnings / Revenue 17.83% 0.22%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.27 $0.00
COMMON SHARES
Basic Shares Outstanding 311.0M shares 318.4M shares
Diluted Shares Outstanding 319.2M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $995.3M $1.103B
YoY Change -23.93% -28.67%
Cash & Equivalents $263.0M $396.9M
Short-Term Investments $732.3M $706.5M
Other Short-Term Assets $67.93M $66.90M
YoY Change 9.19% 26.46%
Inventory $17.32M $24.98M
Prepaid Expenses
Receivables $237.4M $248.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.318B $1.443B
YoY Change -18.58% -21.63%
LONG-TERM ASSETS
Property, Plant & Equipment $128.7M $121.0M
YoY Change 16.37% 12.17%
Goodwill $63.68M $63.68M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $728.7M $811.7M
YoY Change -3.7% 47.51%
Other Assets $701.9M $536.5M
YoY Change 34.98% 91.6%
Total Long-Term Assets $1.624B $1.534B
YoY Change 11.82% 36.95%
TOTAL ASSETS
Total Short-Term Assets $1.318B $1.443B
Total Long-Term Assets $1.624B $1.534B
Total Assets $2.942B $2.977B
YoY Change -4.2% 0.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.77M $26.45M
YoY Change 3.37% -13.48%
Accrued Expenses $192.5M $171.5M
YoY Change 18.5% 16.46%
Deferred Revenue $5.406M $6.974M
YoY Change -27.8% 0.61%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $394.3M $376.8M
YoY Change 21.56% 24.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $94.22M $61.62M
YoY Change 52.09% 3129.35%
Total Long-Term Liabilities $94.22M $61.62M
YoY Change 52.09% 3129.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $394.3M $376.8M
Total Long-Term Liabilities $94.22M $61.62M
Total Liabilities $678.4M $629.3M
YoY Change 16.36% 33.9%
SHAREHOLDERS EQUITY
Retained Earnings -$173.4M -$126.0M
YoY Change 406.5% 3010.78%
Common Stock $303.0K $311.0K
YoY Change -6.48% -3.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.264B $2.348B
YoY Change
Total Liabilities & Shareholders Equity $2.942B $2.977B
YoY Change -4.2% 0.52%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $85.52M $1.041M
YoY Change -383.43% -98.58%
Depreciation, Depletion And Amortization $6.517M $6.300M
YoY Change 9.6% 11.25%
Cash From Operating Activities $10.52M $117.4M
YoY Change -85.72% 6.66%
INVESTING ACTIVITIES
Capital Expenditures $13.17M $9.300M
YoY Change 666.98% -215.63%
Acquisitions
YoY Change
Other Investing Activities $74.91M $44.00M
YoY Change -130.69% -172.24%
Cash From Investing Activities $61.75M $34.70M
YoY Change -125.12% -150.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -206.2M -219.7M
YoY Change 10192.16% 10680.18%
NET CHANGE
Cash From Operating Activities 10.52M 117.4M
Cash From Investing Activities 61.75M 34.70M
Cash From Financing Activities -206.2M -219.7M
Net Change In Cash -133.9M -67.60M
YoY Change -23.1% -272.97%
FREE CASH FLOW
Cash From Operating Activities $10.52M $117.4M
Capital Expenditures $13.17M $9.300M
Free Cash Flow -$2.645M $108.1M
YoY Change -103.67% -8.48%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Payments For Repurchase Of Common Stock
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exel Number Of Countries With Drug Approval Excluding The Us
NumberOfCountriesWithDrugApprovalExcludingTheUS
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us-gaap Fiscal Period
FiscalPeriod
<span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have adopted a 52- or 53-week fiscal year policy that ends on the Friday closest to December 31</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">st</span>. Fiscal year 2023, which is a 52-week fiscal year, will end on December 29, 2023 and fiscal year 2022, which was a 52-week fiscal year, ended on December 30, 2022. For convenience, references in this report as of and for the fiscal periods ended September 29, 2023, and as of and for the fiscal years ending December 29, 2023 and ended December 30, 2022 are indicated as being as of and for the periods ended September 30, 2023, and the years ending December 31, 2023 and ended December 31, 2022, respectively.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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us-gaap Use Of Estimates
UseOfEstimates
The preparation of the accompanying Condensed Consolidated Financial Statements conforms to accounting principles generally accepted in the U.S., which requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosures. On an ongoing basis, we evaluate our significant estimates. We base our estimates on historical experience and on various other market-specific and other relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain prior period amounts in the accompanying Condensed Consolidated Financial Statements have been reclassified to conform to the current period presentation. Such reclassifications did not impact previously reported total revenues, income from operations, net income, total assets, total liabilities or total stockholders’ equity.
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1198900000 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
17942000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1030810000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
19034000 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
350 investment
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
285 investment
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
468000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
6100000 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
836519000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1114884000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
811680000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
753731000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1648199000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1868615000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
8014000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
8077000 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
51668000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
43564000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
17940000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
10635000 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
77622000 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
77622000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
62276000 usd
exel Share Based Compensation Arrangement By Share Based Payment Award Reduction In Share Reserve Due To Stock Option Or Stock Appreciation Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardReductionInShareReserveDueToStockOptionOrStockAppreciationAward
1 shares
exel Share Based Compensation Arrangement By Share Based Payment Award Reduction In Share Reserve Due To Other Awards
ShareBasedCompensationArrangementByShareBasedPaymentAwardReductionInShareReserveDueToOtherAwards
2 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40478000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37337000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
82039000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81718000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40478000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37337000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
357233 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
20.41
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.45
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8537173 shares
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
11800000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.821
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.209
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.201
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
1041000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
73210000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
73210000 usd
us-gaap Net Income Loss
NetIncomeLoss
122247000 usd
us-gaap Net Income Loss
NetIncomeLoss
212455000 usd
us-gaap Net Income Loss
NetIncomeLoss
212455000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315496000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
322148000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
321373000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
320949000 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3751000 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2918000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2904000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3471000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
319247000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
325066000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
324277000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
324420000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13200000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13200000 usd
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2021Q2 exel Loss Contingency Number Of Lawsuits Consolidated
LossContingencyNumberOfLawsuitsConsolidated
2 segment
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

Files In Submission

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exel-20230929_def.xml Edgar Link unprocessable
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0000939767-23-000114-index.html Edgar Link pending
0000939767-23-000114.txt Edgar Link pending
0000939767-23-000114-xbrl.zip Edgar Link pending
exel-20230929.htm Edgar Link pending
exel-20230929.xsd Edgar Link pending
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exel20230930exhibit10110-q.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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exel-20230929_cal.xml Edgar Link unprocessable
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exel-20230929_htm.xml Edgar Link completed
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report.css Edgar Link pending
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exel-20230929_lab.xml Edgar Link unprocessable
exel-20230929_pre.xml Edgar Link unprocessable