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Xencor XNCR Q4 2025 Annual earnings

Reported February 25, 2026 · Before market open

Revenue$28.2MMiss by $1.7M
EPS-$0.09Beat by $0.55
Revenue estimate$30.0M
EPS estimate-$0.64

Next report

Aug 5, 2026 (In 1 week)
Revenue estimate$18.9M
EPS estimate-$0.84

Financials

Q4 2025

Income statement

See full
Revenue$28.2M-46.5%
Operating income-$53.6M-307%
Net income-$6.7M+85.4%
EPS (diluted)-$0.09+84.5%

Balance sheet

See full
Cash & equivalents$54.1M+32.3%
Total debt$187.7M-19.1%
Total equity$635.6M-6.2%
Total assets$875.5M-8.0%

Cash flow

See full
Operating cash flow-$51.7M-3.8%
CapEx$1.1M-31.5%
Free cash flow-$52.9M-2.6%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.09B-32.0%
Enterprise value$1.23B-31.8%
P/S8.7×-5.8×

Profitability

See full
Operating margin-141.4%-15.7pp
Net margin-73.2%-28.9pp
FCF margin-110.1%-32.3pp

Returns & leverage

See full
Return on equity-14%-5.2pp
Debt / equity0.3×0.0×
Current ratio6.3×-0.4×

Versus estimates

Revenue

Q1 2026$4.5MMiss by $23.3M
Q4 2025$28.2MMiss by $1.7M
Q3 2025$21.0MMiss by $9.0MQ2 2025$43.6MBeat by $19.2MQ1 2025$32.7MBeat by $10.2MQ4 2024$70.0MBeat by $53.1M

Diluted EPS

Q1 2026-$1.71Miss by $1.06
Q4 2025-$0.09Beat by $0.55
Q3 2025-$0.08Beat by $0.64Q2 2025-$0.41Beat by $0.37Q1 2025-$0.66Miss by $0.03Q4 2024-$0.62Beat by $0.19

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Questions, answered.

When did Xencor report Q4 2025 earnings?
Xencor (XNCR) reported Q4 2025 earnings on February 25, 2026 before market open.
What were Xencor's Q4 2025 revenue and EPS?
Xencor reported revenue of $28.2M and eps of $-0.09 for Q4 2025.
Did Xencor beat estimates in Q4 2025?
Revenue missed the consensus estimate of $30.0M by $1.7M. EPS beat the consensus estimate of $-0.64 by $0.55.
How did Xencor's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 59.7% from $70.0M a year earlier and eps grew 85.5% from $-0.62.
Where can I find Xencor's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001326732-26-000014) and the 10-K periodic report (0001326732-26-000015) directly on SEC EDGAR. The filing index links above go to sec.gov.