# EXELIXIS, INC. (EXEL) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from EXELIXIS, INC.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2026 MD&A](/company/EXEL/mda/fy2026/): filed 2026-02-10; accession 0000939767-26-000021 (https://www.sec.gov/Archives/edgar/data/939767/000093976726000021/exel-20260102.htm); latest 10-K
- [FY 2025 MD&A](/company/EXEL/mda/fy2025/): filed 2025-02-11; accession 0000939767-25-000019 (https://www.sec.gov/Archives/edgar/data/939767/000093976725000019/exel-20250103.htm)
- [FY 2023 MD&A](/company/EXEL/mda/fy2023/): filed 2024-02-06; accession 0000939767-24-000028 (https://www.sec.gov/Archives/edgar/data/939767/000093976724000028/exel-20231229.htm)
- [FY 2022 MD&A](/company/EXEL/mda/fy2022/): filed 2023-02-07; accession 0000939767-23-000019 (https://www.sec.gov/Archives/edgar/data/939767/000093976723000019/exel-20221230.htm)
- [FY 2021 MD&A](/company/EXEL/mda/fy2021/): filed 2022-02-18; accession 0000939767-22-000026 (https://www.sec.gov/Archives/edgar/data/939767/000093976722000026/exel-20211231.htm)

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