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How Vertex Pharmaceuticals (VRTX) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/2026
Vertex Pharmaceuticals — Vertex Pharmaceuticals is a biotechnology company focused on developing and commercializing innovative treatments for serious diseases, particularly cystic fibrosis.
More about the company
It is headquartered in Boston, Massachusetts.
Key growth driver: ALYFTREK — the fastest-growing revenue line: $574, +266% y/y. · by the Q2 2026 report
How does Vertex Pharmaceuticals make money?
Vertex Pharmaceuticals brought in $3.33 billion of revenue in Q2 2026, up 12.5% year over year. The largest source was TRIKAFTA/KAFTRIO: $2.50 billion, or 75% of the total, followed by ALYFTREK ($574M, 17%) and CASGEVY ($76.4M, 2%); other lines add the remaining 6%. Net income for the quarter was $1.10 billion, up 6.5% year over year.
Revenue by source, Q2 2026
- TRIKAFTA/KAFTRIO$2.50B · 75% · −2.1%
- ALYFTREK$574M · 17% · +266%
- Other CF products$137M · 4% · −29.2%
- CASGEVY$76.4M · 2% · +151%
- JOURNAVX$49.6M · 1% · +313%
Shares of $3.33B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is VRTX’s next earnings date?
Monday, November 2, 2026estimated
Vertex Pharmaceuticals (VRTX) has not confirmed the date yet; Nov 2, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $4.30 (6 analysts), vs $4.22 in the same quarter last year.
What time does VRTX report? Usually after market close: the last 4 results releases reached the SEC at 4:09 pm, 4:05 pm, 4:04 pm, 4:06 pm ET.
Last report: Aug 3, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$3,334
+12.5%
Gross profit
$2,845
+11.2%
85.3% margin
Operating income
$1,247
+8.3%
37.4% margin
Net income
$1,100
+6.5%
$4.31 diluted EPS
Verdict: a solid quarter with revenue up 12% led by ALYFTREK's rapid ramp and strong diversification (CASGEVY, JOURNAVX), but heavier commercial and R&D investment and a higher tax rate held net income growth to just 6.5%.
Cash & marketable securities $13.6B (from $12.3B at YE2025); FY2026 revenue guidance raised to $13.1-13.2B; pending $10.0B Crinetics acquisition expected to close Q3 2026.
Source and notation
* marks non-cash / ≈ estimated. Source: Vertex Pharmaceuticals press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
VRTX earnings history: past report dates
| Aug 3, 2026 Mon | 4:09 pmafter market close | Jun 30, 2026 | $3.3B+12% y/y | $4.31+8% y/y |
| May 4, 2026 Mon | 4:05 pmafter market close | Mar 31, 2026 | $3.0B+8% y/y | $4.02+61% y/y |
| Feb 12, 2026 Thu | 4:04 pmafter market close | Dec 31, 2025 | ≈$3.2B+10% y/y | ≈$4.64+28% y/y |
| Nov 3, 2025 Mon | 4:06 pmafter market close | Sep 30, 2025 | $3.1B+11% y/y | $4.20+5% y/y |
| Aug 4, 2025 Mon | 4:06 pmafter market close | Jun 30, 2025 | $3.0B+12% y/y | $3.99 |
| May 5, 2025 Mon | 4:10 pmafter market close | Mar 31, 2025 | $2.8B+3% y/y | $2.49−41% y/y |
| Feb 10, 2025 Mon | 4:08 pmafter market close | Dec 31, 2024 | ≈$2.9B+16% y/y | ≈$3.62−2% y/y |
| Nov 4, 2024 Mon | 4:02 pmafter market close | Sep 30, 2024 | $2.8B+12% y/y | $4.01+1% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Vertex Pharmaceuticals: 5-year financials
| 2025 | 12,001 | 4,173 | 3,953 | 3,194 |
| 2024 | 11,020 | −233 | −536 | −790 |
| 2023 | 9,869 | 3,832 | 3,620 | 3,337 |
| 2022 | 8,931 | 4,307 | 3,322 | 3,925 |
| 2021 | 7,574 | 2,782 | 2,342 | 2,409 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 202610-K FY2025: apart from Note P, the company is not party to any material legal proceedings; no shareholder suits and no SEC cases. sec.gov ↗
- Feb 2026Shares outstanding of 254.0M vs. 260.0M in January 2021 (−2.3%); SBC 5.7% of revenue. data.sec.gov ↗
- Apr 20262026 proxy: the only related-party transaction in 2025 was the COO/CFO's daughter, ~$155K. sec.gov ↗
Scoring: 2.0, no deductions: single share class, share count −2.3% over 5 years, SBC 5.7% of revenue (<10%), no dividends and no policy, no shareholder suits or SEC cases = 2.0
- Share classes
- Single class of common stock (Nasdaq: VRTX).
- Dilution
- Shares 260.0M (January 2021) → 254.0M (February 2026), −2.3%; SBC $686M = 5.7% of revenue (<10%); buybacks of $0.4–2.0B a year.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- No dividends and no payout policy.
- Lawsuits & regulators
- 10-K: no material legal proceedings (other than those described in Note P); no shareholder suits and no SEC cases.
- Related parties
- 2026 proxy: the only transaction is the COO/CFO's daughter in a non-executive role, ~$155K.
How the score works · checked as of Sep 2026
Vertex Pharmaceuticals (VRTX) earnings: FAQ
How does Vertex Pharmaceuticals make money?
Vertex Pharmaceuticals brought in $3.33 billion of revenue in Q2 2026, up 12.5% year over year. The largest source was TRIKAFTA/KAFTRIO: $2.50 billion, or 75% of the total, followed by ALYFTREK ($574M, 17%) and CASGEVY ($76.4M, 2%); other lines add the remaining 6%. Net income for the quarter was $1.10 billion, up 6.5% year over year.
When is VRTX's next earnings date?
Vertex Pharmaceuticals (VRTX) has not confirmed the date yet; Nov 2, 2026 is an estimate based on its past reporting schedule.
What time does VRTX report earnings?
Vertex Pharmaceuticals usually reports after market close: its latest results release was filed with the SEC at 4:09 pm ET on Aug 3, 2026.
When did VRTX last report earnings?
Vertex Pharmaceuticals reported Q2 2026 results on Aug 3, 2026.
What is the EPS estimate for VRTX's next earnings?
The consensus EPS forecast is $4.30 (6 analysts), vs $4.22 in the same quarter last year.
Where can I find Vertex Pharmaceuticals's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to VRTX's filings; this page breaks the latest report down in a Sankey chart.
What was VRTX's net income in Q2 2026?
Vertex Pharmaceuticals reported net income of $1,100M for Q2 2026 (+6.5% year over year), under US GAAP.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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