Xencor (XNCR) FY2025 results: revenue $126 million, up 13.7% on the year
Xencor Inc. (XNCR) reported revenue of $126 million for fiscal 2025, the year ended 31 December 2025, up 13.7% on the year before. Net income was -$92 million, and diluted earnings per share $-1.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2026.
Revenue
$126 million
+13.7% on the year
FY2018FY2025
Operating margin
-141.4%
-161.5% a year earlier
FY2018FY2025
Net income
-$92 million
FY2018FY2025
Diluted EPS
-$1.24
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
-135
-202
-77.9
Capital expenditure
3.1
6.1
18.4
-48.3%
Free cash flow
-138
-208
-96.4
Free cash flow margin
-110.1%
-188.5%
-55.2%
Cash from investing
140
-7.9
-111
Cash from financing
8.2
197
189
-95.8%
Depreciation and amortisation
10.5
12.1
11.5
-13.2%
Share-based compensation
43.2
53.3
53.8
-18.9%
Diluted shares, weighted
74m
65m
61m
+14.1%
Shares outstanding at period end
72m
70m
61m
+2.3%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
636
678
662
-6.2%
Non-controlling interest
0.0
-3.6
0.3
Debt
120
164
189
-26.8%
Operating lease liabilities
64.7
65.3
59.0
-0.9%
Other liabilities
55.4
49.0
54.5
+13.2%
Total liabilities and equity
875
952
965
-8.0%
Fixed assets
53.3
59.8
66.1
-10.9%
Intangible assets
8.4
18.5
18.7
-54.6%
Securities held for sale or to maturity
557
666
643
-16.4%
Cash and equivalents
54.1
40.9
53.8
+32.3%
Receivables
29.3
60.8
23.7
-51.8%
Other assets
174
106
160
+63.6%
Total assets
875
952
965
-8.0%
10-K for the year ended 31 December 2025, filed 25 February 2026: the filing.