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Financials · XNCR

Xencor Inc. (XNCR) financials

For the twelve months ended Sep 30, 2026, Xencor Inc. reported $200.49M of revenue and -$117.86M of net income.

Revenue, TTM
$200.49M
Revenue growth, YoY
+33.5%
Net income, TTM
-$117.86M
Net margin
-58.8%
Free cash flow, TTM
-$176.45M
EPS, diluted, TTM
-$1.59
Cash
$59.62M
Total debt
$95.06M
P/S
14.74
Market cap
$2.96B
Annual revenue$125.58M
FY2016FY2025
Annual net income-$91.92M
FY2016FY2025
Annual free cash flow-$138.27M
FY2016FY2025

XNCR revenue and earnings growth

XNCR revenueQ3 2026$116.52M

Quarter YoY
+454.9%
QoQ
+127.5%
FY YoY
+13.7%
5Y CAGR
+0.5%

XNCR revenue was $116.52M in fiscal Q3 2026 (ended Sep 30, 2026), up 454.9% from a year earlier and up 127.5% from the prior quarter. For the full fiscal 2025 it was $125.58M, up 13.7% from fiscal 2024. Compound annual growth was +0.5% over 5 years. It rose in 4 of the last 9 fiscal years.

XNCR net incomeQ3 2026$39.44M

XNCR net income was $39.44M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$6.03M a year earlier. For the full fiscal 2025 it was -$91.92M, compared with -$232.62M in fiscal 2024.

XNCR EPSQ3 2026$0.50

XNCR diluted EPS was $0.50 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.08 a year earlier. For the full fiscal 2025 it was -$1.24, compared with -$3.58 in fiscal 2024.

XNCR free cash flowQ3 2026$838.0K

XNCR free cash flow was $838.0K in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$31.00M a year earlier. For the full fiscal 2025 it was -$138.27M, compared with -$208.28M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$125.58M$110.49M$174.62M$164.58M$275.11M$122.69M$156.70M$40.60M$46.15M$109.02M
Research and development$239.43M$227.69M$253.60M$199.56M$192.51M$169.80M$118.59M$97.50M$71.77M$51.87M
Selling, general and admin$63.64M$61.22M$53.38M$47.49M$38.84M$29.69M$24.29M$22.47M$17.50M$13.11M
Operating income-$177.50M-$178.41M-$132.36M-$82.47M$43.77M-$76.80M$13.82M-$79.37M-$43.12M$44.04M
Interest expense$31.93M$36.64M$6.18M$13.0K$13.0K--$16.0K$13.0K$21.0K
Pre-tax income-$89.63M-$234.92M-$119.63M-$54.51M$82.63M-$69.33M$27.19M-$70.41M-$38.95M$46.12M
Income tax$2.50M$1.62M$13.66M$673.0K$0$0$312.0K$0-$463.0K$991.0K
Net income-$91.92M-$232.62M-$133.13M-$55.18M$82.63M-$69.33M$26.88M-$70.41M-$38.49M$45.13M
EPS, basic-$1.24-$3.58-$2.20-$0.93$1.42-$1.21$0.48-$1.31-$0.82$1.09
EPS, diluted-$1.24-$3.58-$2.20-$0.93$1.37-$1.21$0.46-$1.31-$0.82$1.07
Diluted shares74.2M65.0M60.5M59.7M60.5M57.2M58.5M53.9M46.8M42.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$54.07M$41.26M$54.17M$53.94M$143.48M$163.54M$50.31M$26.25M$16.53M$14.53M
Short-term investments------$479.47M$268.12M$207.60M$115.61M
Receivables$29.30M$60.85M$23.74M$29.00M$66.38M$11.44M$21.57M$10.19M$1.14M$8.62M
Current assets$599.82M$577.60M$635.60M$675.34M$424.37M$637.67M$558.40M$315.73M$230.88M$141.65M
Total assets$875.50M$951.95M$965.13M$846.27M$838.21M$703.24M$670.25M$576.73M$390.20M$428.56M
Current liabilities$95.91M$87.43M$73.92M$63.84M$70.74M$121.06M$66.56M$53.85M$72.65M$106.29M
Short-term debt$43.27M$48.45M$27.71M$0------
Long-term debt$76.48M$115.16M$161.77M$0------
Total debt$119.75M$163.61M$189.48M$0------
Total liabilities$239.91M$277.92M$303.05M$118.77M$104.71M$130.80M$77.05M$55.05M$73.74M$114.61M
Shareholders' equity$635.59M$674.03M$662.09M$727.50M$733.50M$572.44M$593.20M$521.68M$316.46M$337.93M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$135.12M-$202.19M-$77.93M$24.48M-$16.85M-$5.00M$64.37M-$79.76M-$33.60M$95.24M
Capital expenditures$3.15M$6.10M$18.45M$38.49M$13.30M$10.54M$7.35M$7.21M$5.31M$1.51M
Free cash flow-$138.27M-$208.28M-$96.37M-$14.01M-$30.15M-$15.54M$57.02M-$86.97M-$38.91M$93.73M
Investing cash flow$139.99M-$7.87M-$111.06M-$119.72M-$46.25M$100.19M-$50.97M-$164.77M$31.86M-$214.27M
Financing cash flow$8.23M$197.15M$189.22M$5.70M$43.04M$18.04M$10.66M$254.24M$3.73M$120.97M
Stock-based compensation$43.23M$53.28M$53.76M$48.91M$36.98M$31.62M$31.85M$20.55M$13.65M$7.85M
Depreciation and amortization$10.51M$12.11M$11.50M$8.80M$7.49M$5.79M$4.30M$3.25M$2.03M$1.47M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY13.7%-36.7%6.1%-40.2%124.2%-21.7%285.9%-12.0%-57.7%-
Operating margin-141.4%-161.5%-75.8%-50.1%15.9%-62.6%8.8%-195.5%-93.4%40.4%
Net margin-73.2%-210.5%-76.2%-33.5%30.0%-56.5%17.2%-173.4%-83.4%41.4%
Free cash flow margin-110.1%-188.5%-55.2%-8.5%-11.0%-12.7%36.4%-214.2%-84.3%86.0%
Return on equity-14.5%-34.5%-20.1%-7.6%11.3%-12.1%4.5%-13.5%-12.2%13.4%
Return on assets-10.5%-24.4%-13.8%-6.5%9.9%-9.9%4.0%-12.2%-9.9%10.5%
Current ratio6.256.618.6010.586.005.278.395.863.181.33
Debt to equity0.190.240.290.00------

Source: XBRL data Xencor Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

XNCR peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
XNCR$200.49M+33.5%-$117.86M-58.8%$2.96B
WVE$70.92M--$210.53M-296.9%$672.6M
CTMX$14.03M-87.7%-$85.42M-609.0%$431.6M
MGNX$167.67M+11.7%-$14.59M-8.7%$154.2M

XNCR FAQ

8 questions
  • What is XNCR revenue?
    Xencor Inc. (XNCR) reported $200.49M of revenue for the twelve months ended Sep 30, 2026. That is up 33.5% from the year before. Revenue for fiscal 2025 was $125.58M.
  • Is XNCR profitable?
    No. Xencor Inc. reported a net loss of $117.86M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does XNCR have?
    Xencor Inc. reported $59.62M in cash and cash equivalents and $95.06M of debt on its most recent balance sheet in SEC filings.
  • How fast is XNCR revenue growing?
    Xencor Inc.'s revenue changed +13.7% in fiscal 2025, to $125.58M. Its compound annual growth rate was +0.5% over 5 years.
  • What is XNCR free cash flow?
    Xencor Inc. generated -$176.45M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$172.35M less capital expenditures.
  • What is XNCR earnings per share?
    Diluted earnings per share were -$1.59 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did XNCR last report financial results?
    The latest statements here come from Xencor Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this XNCR financial data come from?
    Quantisnow builds these statements from the structured XBRL data Xencor Inc. files with the SEC. It is provided for information only and is not investment advice.