Record 2025 Revenue Expected to Outpace Guidance—Recorlev, Gvoke, and Keveyis Fuel Momentum
Xeris Biopharma Holdings (NASDAQ:XERS) unveiled its preliminary financial results, forecasting record-breaking total revenue of $292 million for 2025. This estimate stands above the previously guided range of $285 million to $290 million and reflects a remarkable 44% year-over-year increase. These gains underscore commercial execution and enthusiasm across the company’s product portfolio, headlined by Recorlev®, Gvoke®, and Keveyis®.
Recorlev®'s Exceptional Uptake Anchors Growth Prospects
Recorlev®, approved for endogenous Cushing’s syndrome, posted strong momentum in 2025, finishing the year with approximately 700 patients on therapy and net revenue projections of $139 million. This marks a new milestone for the product and highlights robust market adoption following well-executed commercial expansion efforts.
Gvoke® and Keveyis® Deliver Consistent Double-Digit Growth
Gvoke®, Xeris’s ready-to-use glucagon for severe hypoglycemia, saw revenue rise by more than 13% compared to the prior year. Meanwhile, Keveyis®, a therapy for primary periodic paralysis, ended the year with a larger patient base and a notable increase in patients on therapy versus 2024—a clear sign of continued market traction and demand for the treatment suite.
| Product | 2025 Net Revenue ($M) | Growth (%) | Patients on Therapy |
|---|---|---|---|
| Recorlev® | 139 | N/A | 700 |
| Gvoke® | Not Disclosed | 13+ | Not Disclosed |
| Keveyis® | Not Disclosed | Patient Base Grew | Not Disclosed |
Financial Stability and Strategy Set Stage for 2026
One of Xeris’s standout operational achievements has been delivering positive adjusted EBITDA in every quarter of the year. The company also bolstered its intellectual property portfolio: a new Orange Book-listed U.S. patent for Recorlev® and a composition of matter patent for its pipeline candidate XP-8121 ensure longer-term market protection for both commercial and developmental assets.
Looking ahead, CEO John Shannon expressed confidence in Xeris's roadmap: "We enter the year with strong commercial momentum, supported by a robust balance sheet and a clear, disciplined strategy to fuel sustained, long-term, rapid growth across the business." The company also shared its intent to present detailed full-year 2025 financial results and 2026 outlook on March 2, 2026.
Key Takeaways and Upcoming Catalysts
- Total Revenue for 2025 projected at $292 million, outpacing guidance and suggesting accelerated growth trajectory.
- Product Adoption continues to rise, with Recorlev® crossing 700 patients and Gvoke® delivering double-digit revenue growth.
- Profitability Milestone: Positive adjusted EBITDA in every 2025 quarter signals operational discipline and improving margins.
- Intellectual Property Expansion further fortifies the company’s commercial moat and long-term value proposition.
Xeris is positioning itself as a formidable growth story within the biopharma sector, combining product innovation with disciplined execution. With the prospect of full 2025 results and a new 2026 outlook on the horizon, investors and industry watchers will be watching closely to see if this momentum can be sustained—and what surprises might be in store as new products advance through Xeris’s pipeline.
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