Xenon Pharmaceuticals Inc. (XENE) Income Statement
XENE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsXENE revenue and net income
Where XENE's revenue goes
2025Each bar shows an amount and its share of revenue. XENE kept −4,612.1% of revenue as net income.
XENE profit margins
XENE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | −7.4% | −25.3% | −7.0% |
| Gross profit | — | −19.3% | −31.2% | −10.8% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
XENE quarterly EPS vs estimates
Xenon Pharmaceuticals beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 2, 2026 (estimate $-1.17).
XENE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5M | $0 | $0 | $9.4M | $18.4M | $32.2M | $6.8M | $0 | $311,000 | $1.8M |
| Cost of revenue | $2.5M | $2.6M | $167.5M | $105.8M | $75.5M | $50.5M | $38.8M | $6.0M | $25.6M | $1.1M |
| Gross profit | $5.0M | −$2.6M | −$167.5M | $9.4M | $18.4M | $32.2M | $6.8M | −$6.0M | −$25.3M | $689,000 |
| Research & development | $300.9M | $210.4M | $167.5M | $105.8M | $75.5M | $50.5M | $38.8M | $23.6M | $25.6M | $19.8M |
| Sales, general & admin | $79.6M | $68.9M | $46.5M | $32.8M | $22.0M | $12.9M | $10.8M | $8.4M | $7.3M | $6.8M |
| Total operating expenses | $378.0M | $276.7M | $46.5M | $138.6M | $97.4M | $63.5M | $49.6M | $32.0M | $32.9M | $26.6M |
| Operating income | −$373.1M | −$279.3M | −$214.1M | −$129.1M | −$79.0M | −$31.3M | −$42.8M | −$38.0M | −$32.6M | −$24.8M |
| Interest income | $26.8M | $41.9M | $23.4M | $8.7M | $466,000 | $2.3M | $2.4M | $1.2M | $477,000 | $504,000 |
| Interest expense | — | — | — | $5.5M | $1.0M | $484,000 | $1.4M | $1.4M | $0 | $0 |
| Income before taxes | −$344.9M | −$238.4M | −$182.7M | −$125.3M | −$78.9M | −$29.1M | −$41.6M | −$34.5M | −$30.7M | −$23.0M |
| Income taxes | $1.0M | −$4.1M | −$292,000 | $118,000 | −$6,000 | −$257,000 | −$23,000 | $4.9M | −$1.9M | −$1.8M |
| Net income | −$345.9M | −$234.3M | −$182.4M | −$125.4M | −$78.9M | −$28.8M | −$41.6M | −$34.5M | −$30.7M | −$23.0M |
| EBITDA | −$342.4M | −$235.9M | −$210.5M | −$127.5M | −$78.1M | −$30.7M | −$39.8M | −$32.5M | −$30.1M | −$24.0M |
| EPS (diluted) | −$4.36 | −$3.02 | −$2.72 | −$2.04 | −$1.77 | −$0.81 | −$1.54 | −$1.83 | −$1.71 | −$1.48 |
| Gross margin | 66.1% | — | — | 100.0% | 100.0% | 100.0% | 100.0% | — | −8,122.8% | 38.2% |
| Operating margin | −4,974.3% | — | — | −1,368.9% | −428.4% | −97.3% | −627.0% | — | −10,474.3% | −1,376.4% |
| Net margin | −4,612.1% | — | — | −1,328.9% | −427.8% | −89.7% | −609.1% | — | −9,872.7% | −1,275.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $7.5M | $2.5M | $0 | $0 | $0 | $5.4M | $0 |
| Cost of revenue | — | $587,000 | $611,000 | $77.1M | $632,000 | $0 | $633,000 | $669,000 | $659,000 | $599,000 | $851,000 | $1.7M |
| Gross profit | — | −$587,000 | −$611,000 | −$77.1M | −$632,000 | $7.5M | $1.3M | −$669,000 | −$659,000 | −$599,000 | $4.5M | −$1.7M |
| Research & development | $99.2M | $88.5M | $87.7M | $77.1M | $75.0M | $61.2M | $59.5M | $57.0M | $49.7M | $44.2M | $41.1M | $42.9M |
| Sales, general & admin | $23.9M | $23.8M | $22.1M | $19.3M | $19.2M | $19.0M | $18.0M | $16.7M | $20.1M | $14.8M | $13.5M | $12.8M |
| Total operating expenses | $123.2M | $112.3M | $109.2M | $19.3M | $93.6M | $80.2M | $77.5M | $73.7M | $69.1M | $58.4M | $53.7M | $55.7M |
| Operating income | −$123.2M | −$112.3M | −$109.8M | −$96.3M | −$94.2M | −$72.7M | −$77.5M | −$73.7M | −$69.1M | −$59.0M | −$53.7M | −$55.7M |
| Interest income | $12.1M | $6.9M | $5.3M | $6.2M | $7.2M | $8.1M | $9.4M | $10.3M | $10.8M | $11.4M | $8.7M | $7.0M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $7.6M | — |
| Income before taxes | −$111.3M | −$104.9M | −$104.7M | −$90.2M | −$85.3M | −$64.6M | −$69.5M | −$63.1M | −$58.3M | −$47.5M | −$44.9M | −$48.6M |
| Income taxes | −$585,000 | −$2.6M | $538,000 | $677,000 | −$626,000 | $427,000 | −$3.8M | −$320,000 | −$333,000 | $412,000 | −$205,000 | −$157,000 |
| Net income | −$110.7M | −$102.3M | −$105.3M | −$90.9M | −$84.7M | −$65.0M | −$65.7M | −$62.8M | −$57.9M | −$47.9M | −$44.7M | −$48.5M |
| EBITDA | −$110.8M | −$111.7M | −$104.1M | −$89.6M | −$93.6M | −$72.1M | −$76.8M | −$73.0M | −$68.5M | −$58.5M | −$52.8M | −$54.0M |
| EPS (diluted) | −$1.11 | −$1.17 | −$1.31 | −$1.15 | −$1.07 | −$0.83 | −$0.84 | −$0.81 | −$0.75 | −$0.62 | −$0.64 | −$0.73 |
| Gross margin | — | — | — | — | — | 100.0% | 50.0% | — | — | — | 84.2% | — |
| Operating margin | — | — | — | — | — | −969.8% | −3,079.4% | — | — | — | −998.0% | — |
| Net margin | — | — | — | — | — | −867.3% | −2,610.7% | — | — | — | −831.7% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in XENE's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
XENE financial results
In fiscal year 2025 (ended December 31, 2025), Xenon Pharmaceuticals reported revenue of $7.5 million. It had a net loss of $345.9 million, a net profit margin of −4,612.1%. Diluted earnings per share came to −$4.36. Over five years revenue grew at an average rate of −25.3% a year.
See the XENE stock overview for the latest quote and news, or the XENE chart for price history and technical indicators.
XENE income statement FAQ
What is Xenon Pharmaceuticals's annual revenue?
Xenon Pharmaceuticals reported total revenue of $7.5 million for fiscal year 2025, which ended on December 31, 2025.
Is Xenon Pharmaceuticals profitable?
No. Xenon Pharmaceuticals reported a net loss of $345.9 million in fiscal 2025, a net profit margin of −4,612.1%; its operating margin was −4,974.3%.
What is Xenon Pharmaceuticals's gross margin?
Xenon Pharmaceuticals's gross margin was 66.1% in fiscal 2025: for every $100 of revenue, Xenon Pharmaceuticals kept $66 after the direct cost of its products and services.
How much does Xenon Pharmaceuticals spend on research and development?
Xenon Pharmaceuticals spent $300.9 million on research and development in fiscal 2025, 4,012.5% of revenue.
How fast is Xenon Pharmaceuticals growing?
Revenue grew −25.3% a year on average over the last five fiscal years, from $32.2 million to $7.5 million.
What are Xenon Pharmaceuticals's earnings per share?
Xenon Pharmaceuticals earned $-4.36 per diluted share in fiscal 2025, compared with $-3.02 a year earlier.
When will Xenon Pharmaceuticals report its next earnings?
Xenon Pharmaceuticals is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Xenon Pharmaceuticals's fiscal year end?
Xenon Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.