Xeris Biopharma (XERS) charts a rising course: 2025 revenue hits a new high and 2026 guidance points to more room to grow

Lede: a clean read on momentum and direction

Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) released its fourth‑quarter and full‑year 2025 results from Chicago on March 2, 2026, signaling a transition from growth pacing to sustained momentum. The company framed the period as a transformational year, with record revenue for the year and a revenue forecast that points to continued expansion in 2026. While the press release excerpt doesn't publish a standalone EPS figure in this snippet, investors will be watching for EPS versus consensus as the company steps toward its full year 2026 trajectory. In the meantime, the headline numbers scream more about top‑line durability than about a one‑and‑done quarter.

Financial snapshot at a glance

Total revenue for the fourth quarter of 2025: $86 million.

Full‑year 2025 revenue: $292 million.

2026 revenue forecast: a range of $375 million to $390 million, representing more than 30% growth at the midpoint.

On the product side, Recorlev carried notable year‑end momentum. In Q4 2025, Recorlev contributed $45.3 million in product revenue, roughly doubling from the prior year’s Q4 figure of about $22.7 million.

What this means for XERS and the sector

The 2025 results read as a proof of concept for Xeris’ strategic pivot: sustain a strong core and scale a medical therapy portfolio while keeping capital discipline. The combination of a solid top line and a clearly stated 2026 revenue forecast provides a roadmap for analysts tracking EPS trajectory versus consensus and the company’s ability to translate revenue into earnings power down the line.

CEO John Shannon framed 2025 as a milestone year, emphasizing focused execution, record revenue growth, and the company’s emergence as a self‑funding, sustainable biopharmaceutical entity. CFO Steve Pieper reinforced the thesis: as 2026 unfolds, Xeris intends to build on momentum and deploy capital judiciously to strengthen the balance sheet and preserve financial flexibility for pipeline advancement, including XP‑8121’s ongoing development toward a Phase 3 initiation.

XP-8121: the pipeline’s near‑term hinge

The company’s forward‑looking posture hinges on XP‑8121 advancing into a Phase 3 trial. Investors will parse whether the phasing and execution align with the growth plan implied by the 2026 revenue forecast. A successful Phase 3 read‑through would matter not just for XP‑8121’s clinical and commercial potential, but for how Xeris funds and prioritizes its broader portfolio in a crowded biopharma landscape where investors reward clarity of path and speed to value.

Capital discipline and a strengthened balance sheet

The CFO’s rhetoric about “judicious deployment of capital” signals a deliberate stance: Xeris aims to preserve liquidity and flexibility as it finances late‑stage development while pursuing revenue growth. In a sector where burn rates and pipeline risk loom large, the emphasis on a strengthened balance sheet can be a meaningful differentiator for equity investors who prize resilience alongside growth.

Earnings angles to watch

Key metrics investors will scrutinize beyond this press release include the EPS trajectory and how it stacks up against the EPS consensus for Q1 and full‑year 2026 as the company reports subsequent quarters. The earnings surprise risk—whether results surprise consensus expectations on the upside or downside—will influence how the stock trades in the near term.

From a revenue perspective, the revenue forecast for 2026 provides a tangible benchmark against which the market will gauge operating leverage and product mix. The quarter’s Recorlev performance illustrates a meaningful portion of the growth story, but investors will want to see continued strength across the portfolio and evidence of durable demand.

Takeaways for XERS and peers

For Xeris, the message is twofold: the business can leverage a scalable top line while maintaining financial flexibility to fund late‑stage programs. For sector peers, the takeaway is a reminder that a diversified product line and a credible pipeline can translate into earnings visibility in a sector where pipeline risk often dominates price action.

Sector watchers should note whether the 2026 revenue forecast translates into margin expansion or remains a growth discipline narrative. If XP‑8121 begins to contribute meaningfully to top‑line growth and the balance sheet remains robust, Xeris could become a benchmark for small‑to‑mid‑cap biopharma companies pursuing a similar playbook: disciplined cash usage, selective pipeline investment, and a clear path to profitability as portfolios mature.

About Xeris Biopharma Holdings, Inc.

Xeris Biopharma Holdings, Inc. is a biotechnology company focused on developing and commercializing innovative therapies. The company’s flagship products and late‑stage programs target a range of conditions, with a strategy anchored in patient impact, scalable commercialization, and a commitment to capital efficiency as it navigates the path from development to revenue generation.