Xeris Biopharma Holdings, Inc.

For the period ended Sep 30, 2025. Filed Nov 6, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 6, 2025

XERS$15.20+16.2%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024

Condensed Consolidated Balance Sheets

(in thousands, except share and par value)

	September 30, 2025	December 31, 2024
Assets · (unaudited)
Current assets:
Cash and cash equivalents	$91,598	$71,621
Trade accounts receivable, net	53,751	40,415
Inventory, net	67,462	48,175
Prepaid expenses and other current assets	11,206	7,451
Total current assets	224,017	167,662
Property and equipment, net	4,946	5,562
Operating lease right-of-use assets	22,263	22,649
Goodwill	22,859	22,859
Intangible assets, net	90,789	98,921
Other assets	5,317	5,407
Total assets	$370,191	$323,060
Liabilities and Stockholders' Equity (deficit)
Current liabilities:
Accounts payable	$6,527	$2,290
Current portion of long-term debt	—	15,102
Current operating lease liabilities	6,194	6,080
Other accrued liabilities	30,350	27,716
Accrued trade discounts and rebates	51,264	29,084
Accrued returns reserve	19,216	19,082
Other current liabilities	2,649	1,089
Total current liabilities	116,200	100,443
Long-term debt, net of current portion and unamortized debt issuance costs	219,469	217,006
Non-current operating lease liabilities	31,991	33,259
Other liabilities	3,392	1,967
Total liabilities	371,052	352,675
Commitments and contingencies (Note 13)
Stockholders' equity (deficit):
Preferred stock—par value $0.0001, 25,000,000 shares and 25,000,000 shares authorized and no shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	—	—
Common stock—par value $0.0001, 350,000,000 shares and 350,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 165,528,253 and 149,429,410 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	17	15
Additional paid in capital	681,535	642,256
Accumulated deficit	(682,388)	(671,861)
Accumulated other comprehensive loss	(25)	(25)
Total stockholders' equity (deficit)	(861)	(29,615)
Total liabilities and stockholders' equity (deficit)	$370,191	$323,060

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(in thousands, except share and per share data, unaudited)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Product revenue, net	$74,063	$52,861	$199,573	$139,636
Royalty, contract and other revenue	317	1,407	6,465	3,335
Total revenue	74,380	54,268	206,038	142,971
Costs and expenses:
Cost of goods sold	10,996	13,593	31,622	27,354
Research and development	7,483	5,888	23,291	19,468
Selling, general and administrative	46,459	44,969	134,870	123,342
Amortization of intangible assets	2,711	2,711	8,132	8,132
Total costs and expenses	67,649	67,161	197,915	178,296
Income (loss) from operations	6,731	(12,893)	8,123	(35,325)
Other income (expense):
Interest and other income	1,158	1,197	3,281	4,411
Debt refinancing costs	—	—	—	(2,690)
Interest expense	(7,268)	(7,786)	(21,931)	(22,782)
Change in fair value of warrants	—	—	—	7
Change in fair value of contingent value rights	—	420	—	4,388
Total other expense	(6,110)	(6,169)	(18,650)	(16,666)
Net income (loss) before income taxes	621	(19,062)	(10,527)	(51,991)
Income tax benefit	—	3,324	—	2,268
Net income (loss)	$621	$(15,738)	$(10,527)	$(49,723)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments	—	15	—	9
Foreign currency translation adjustments	(1)	—	—	—
Comprehensive income (loss)	$620	$(15,723)	$(10,527)	$(49,714)
Net income (loss) per common share - basic	$0.00	$(0.11)	$(0.07)	$(0.34)
Net income (loss) per common share - diluted	$0.00	$(0.11)	$(0.07)	$(0.34)
Weighted average common shares outstanding:
Basic	163,649,932	148,993,823	158,559,467	145,962,198
Diluted	177,617,307	148,993,823	158,559,467	145,962,198

Condensed Consolidated Statements of Stockholders' Equity (Deficit)

(in thousands, except share data, unaudited)

Common Stock · Additional Paid InCapital · Accumulated Other Comprehensive Loss · Accumulated Deficit · TotalStockholders'Equity (Deficit)
Shares · Amount
Balance, December 31, 2023	138,130,715	$14	$610,254	$(25)	$(617,025)	$(6,782)
Net loss	—	—	—	—	(18,980)	(18,980)
Issuance of common stock to settle contingent value rights	7,525,048	1	15,802	—	—	15,803
Exercise of stock options	229,417	—	459	—	—	459
Vesting of restricted stock units (net of 1,437,592 shares withheld for tax)	2,339,223	—	(3,434)	—	—	(3,434)
Stock-based compensation	—	—	3,767	—	—	3,767
Other comprehensive loss	—	—	—	(11)	—	(11)
Balance, March 31, 2024	148,224,403	$15	$626,848	$(36)	$(636,005)	$(9,178)
Net loss	—	—	—	—	(15,005)	(15,005)
Vesting of restricted stock units (net of 23,230 shares withheld for tax)	340,417	—	(51)	—	—	(51)
Stock-based compensation	—	—	4,233	—	—	4,233
Issuance of common stock through employee stock purchase plan	371,907	—	710	—	—	710
Other comprehensive gain	—	—	—	5	—	5
Balance, June 30, 2024	148,936,727	$15	$631,740	$(31)	$(651,010)	$(19,286)
Net loss	—	—	—	—	(15,738)	(15,738)
Vesting of restricted stock units (net of 38,918 shares withheld for tax)	67,207	—	(82)	—	—	(82)
Stock-based compensation	—	—	6,768	—	—	6,768
Other comprehensive gain	—	—	—	15	—	15
Balance, September 30, 2024	149,003,934	$15	$638,426	$(16)	$(666,748)	$(28,323)

Condensed Consolidated Statements of Stockholders' Equity (Deficit)

(in thousands, except share data, unaudited)

Common Stock · Additional Paid InCapital · Accumulated Other Comprehensive Loss · Accumulated Deficit · TotalStockholders'Equity (Deficit)
Shares · Amount
Balance, December 31, 2024	149,429,410	$15	$642,256	$(25)	$(671,861)	$(29,615)
Net loss	—	—	—	—	(9,220)	(9,220)
Exercise of stock options	1,366,498	—	4,960	—	—	4,960
Vesting of restricted stock units (net of 2,255,124 shares withheld for tax)	3,721,805	1	(7,999)	—	—	(7,998)
Issuance of common shares in partial settlement of 2025 Convertible Debt	1,045,752	—	3,188	—	—	3,188
Issuance of common shares for warrants exercised	450,585	—	—	—	—	—
Stock-based compensation	—	—	3,557	—	—	3,557
Balance, March 31, 2025	156,014,050	$16	$645,962	$(25)	$(681,081)	$(35,128)
Net loss	—	—	—	—	(1,928)	(1,928)
Exercise of stock options	315,724	—	1,152	—	—	1,152
Vesting of restricted stock units (net of 170,442 shares withheld for tax)	680,154	—	(859)	—	—	(859)
Issuance of common shares in settlement of 2025 Convertible Debt	3,932,399	—	11,958	—	—	11,958
Issuance of common stock through employee stock purchase plan	282,435	—	830	—	—	830
Stock-based compensation	—	—	4,670	—	—	4,670
Other comprehensive gain	—	—	—	1	—	1
Balance, June 30, 2025	161,224,762	$16	$663,713	$(24)	$(683,009)	$(19,304)
Net income	—	—	—	—	621	621
Exercise of stock options	1,179,760	—	5,183	—	—	5,183
Vesting of restricted stock units (net of 93,725 shares withheld for tax)	167,986	—	(478)	—	—	(478)
Issuance of common shares in settlement of warrants	2,955,745	1	9,166	—	—	9,167
Stock-based compensation	—	—	3,951	—	—	3,951
Other comprehensive gain	—	—	—	(1)	—	(1)
Balance, September 30, 2025	165,528,253	$17	$681,535	$(25)	$(682,388)	$(861)

See accompanying notes to condensed consolidated financial statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.