EXELIXIS, INC.
For the period ended Jan 2, 2026. Filed Feb 10, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2026 · Filed Feb 10, 2026
EXEL$70.58-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Net income | $782,570 | $521,267 | $207,765 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 29,055 | 28,803 | 25,717 |
| Impairment of long-lived assets | — | 64,391 | — |
| Stock-based compensation | 112,983 | 93,836 | 106,345 |
| Non-cash lease expense | 24,229 | 27,461 | 28,976 |
| Deferred taxes | 126,237 | (59,458) | (133,209) |
| Acquired in-process research and development technology | 11,999 | 50,750 | 128,500 |
| Other, net | (11,609) | (13,626) | (16,797) |
| Changes in operating assets and liabilities: | |||
| Trade receivables, net | (21,398) | (27,950) | (22,623) |
| Inventory | 12,225 | 5,453 | (12,977) |
| Prepaid expenses and other assets | (133,771) | 31,079 | (29,824) |
| Accrued collaboration liabilities | 1,899 | (149) | 1,345 |
| Accounts payable and other liabilities | (50,152) | (21,886) | 50,106 |
| Net cash provided by operating activities | 884,267 | 699,971 | 333,324 |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (632,497) | (927,905) | (902,468) |
| Proceeds from maturities and sales of marketable securities | 1,022,866 | 877,307 | 1,038,482 |
| Purchases of property, equipment and other, net | (8,429) | (28,435) | (40,469) |
| Acquired in-process research and development technology | (31,499) | (37,750) | (122,500) |
| Net cash provided by (used in) investing activities | 350,441 | (116,783) | (26,955) |
| Cash flows from financing activities: | |||
| Payments for repurchases of common stock | (947,511) | (652,033) | (550,378) |
| Proceeds from issuance of common stock under the equity incentive plan and stock purchase plan | 49,137 | 61,850 | 33,448 |
| Taxes paid related to net share settlement of equity awards | (71,220) | (38,625) | (29,122) |
| Net cash used in financing activities | (969,594) | (628,808) | (546,052) |
| Net increase (decrease) in cash and cash equivalents | 265,114 | (45,620) | (239,683) |
| Cash and cash equivalents at beginning of period | 217,374 | 262,994 | 502,677 |
| Cash and cash equivalents at end of period | $482,488 | $217,374 | $262,994 |
| Supplemental cash flow disclosures: | |||
| Net cash paid for income taxes | $155,296 | $170,482 | $185,658 |
| Non-cash operating activities: | |||
| Right-of-use assets obtained in exchange for lease obligations | $— | $15,313 | $16,623 |
| Impairment of right-of-use assets | $— | $59,735 | $— |
| Non-cash investing activity: | |||
| Unpaid liabilities incurred for purchases of in-process research and development technology | $— | $19,500 | $6,500 |
| Unpaid liabilities incurred for purchases of investment | $21,825 | $— | $— |
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