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← Vertex Pharmaceuticals Incorporated (VRTX)

Vertex Pharmaceuticals Incorporated (VRTX) Q2 FY2026 Financial Statements: Revenue $3.33B, Net income $1.10B

CIK 0000875320 · Nasdaq · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0000875320-26-000259) · Annual report: FY2025 10-K (filed 2026-02-13, accession 0000875320-26-000056) · Next expected filing: 10-Q ~2026-11-03

More for Vertex Pharmaceuticals: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Vertex Pharmaceuticals reported $3.33 billion in total revenue for Q2 FY2026, the quarter ended June 30, 2026, up 12.5% from a year earlier, and net income of $1.1 billion, or $4.31 per diluted share. The growth came from a shift inside the cystic fibrosis franchise rather than from Vertex's biggest medicine: ALYFTREK revenue reached $573.6 million, up 265.8%, while TRIKAFTA/KAFTRIO, still the largest product at $2.50 billion, was down 2.1% as patients transitioned to the newer once-daily therapy. Earnings grew more slowly than revenue, with net income up 6.5%, as commercial spending behind Vertex's non-cystic-fibrosis launches, a higher cost of sales on product mix and a higher effective tax rate all weighed on the bottom line. The results do not reflect Vertex's pending acquisition of Crinetics Pharmaceuticals, agreed in July and expected to close in the third quarter, which the raised full-year revenue guidance also excludes.

MetricAmountvs. year ago
Revenue$3,333,900,000up 12.5%
Net income$1,099,800,000up 6.5%
Diluted EPS$4.31up 8.0%
TRIKAFTA/KAFTRIO revenue$2,497,200,000down 2.1%
ALYFTREK revenue$573,600,000up 265.8%

About this file

TickerVRTX
CIK0000875320
CompanyVertex Pharmaceuticals Incorporated
Business typepharmaceutical
Schema templatestandard (product-revenue biopharmaceutical: revenue, cost of sales, R&D, acquired IPR&D, SG&A, operating income, net income, EPS; cash and marketable securities, total assets, equity; operating cash flow, capital expenditures, free cash flow)
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions)

VRTX annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
LabelFY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession0000875320-26-0000560000875320-26-0000560000875320-26-000056
Income statement
Product revenues net11,970,600,00011,020,100,0009,869,200,000
Other revenues30,700,00000
Total revenues12,001,300,00011,020,100,0009,869,200,000
Cost of sales1,651,300,0001,530,500,0001,262,200,000
Research and development expenses3,909,500,0003,630,300,0003,162,900,000
Acquired in process research and development expenses133,000,0004,628,400,000527,100,000
Selling general and administrative expenses1,753,100,0001,464,300,0001,136,600,000
Intangible asset impairment charge379,000,00000
Change in fair value of contingent consideration2,100,000-500,000-51,600,000
Total costs and expenses7,828,000,00011,253,000,0006,037,200,000
Operating income4,173,300,000-232,900,0003,832,000,000
Interest income490,900,000598,100,000614,700,000
Interest expense-13,300,000-30,600,000-44,100,000
Other income expense net-7,700,000-86,100,000-22,800,000
Income before income taxes4,643,200,000248,500,0004,379,800,000
Provision for income taxes690,000,000784,100,000760,200,000
Basic shares255,700,000257,900,000257,700,000
Diluted shares258,000,000257,900,000260,500,000
Net income3,953,200,000-535,600,0003,619,600,000
Basic EPS15.46-2.0814.05
Diluted EPS15.32-2.0813.89
Gross profit10,350,000,0009,489,600,0008,607,000,000
Interest income net477,600,000567,500,000570,600,000
Cash flow
Stock based compensation expense685,900,000698,500,000581,200,000
Depreciation and amortization expense209,800,000207,200,000181,300,000
Operating cash flow3,631,400,000-492,600,0003,537,300,000
Capital expenditures-437,600,000-297,700,000-200,400,000
Investing cash flow-945,400,000-3,770,000,000-3,141,700,000
Repurchases of common stock-2,017,400,000-1,177,100,000-427,600,000
Financing cash flow-2,261,300,000-1,494,900,000-562,200,000
Cash paid for income taxes1,566,700,0001,082,100,0001,677,300,000
Free cash flow3,193,800,000-790,300,0003,336,900,000
Balance sheet
Cash and cash equivalents5,084,800,0004,569,600,000
Marketable securities1,523,300,0001,546,300,000
Accounts receivable net2,052,800,0001,609,400,000
Inventories1,686,800,0001,205,400,000
Prepaid expenses and other current assets853,300,000665,700,000
Total current assets11,201,000,0009,596,400,000
Property and equipment net1,520,300,0001,227,800,000
Goodwill1,088,000,0001,088,000,000
Other intangible assets net424,200,000825,900,000
Deferred tax assets2,897,900,0002,331,100,000
Operating lease assets1,562,700,0001,356,800,000
Long term marketable securities5,712,300,0005,107,900,000
Other assets1,236,600,000999,300,000
Total assets25,643,000,00022,533,200,000
Accounts payable461,700,000413,000,000
Accrued expenses2,971,200,0002,788,600,000
Other current liabilities428,300,000363,000,000
Total current liabilities3,861,200,0003,564,600,000
Long term operating lease liabilities1,846,500,0001,544,400,000
Other long term liabilities1,269,500,0001,014,600,000
Total liabilities6,977,200,0006,123,600,000
Additional paid in capital5,119,200,0006,672,400,000
Retained earnings13,560,000,0009,606,800,000
Total shareholders equity18,665,800,00016,409,600,000
Cash and marketable securities12,320,400,00011,223,800,000
Common shares issued and outstanding253,991,224256,940,382
Total debt00
Revenue by product
Trikafta kaftrio10,312,700,00010,238,600,0008,944,700,000
Alyftrek837,800,00000
Other product revenues820,100,000781,500,000924,500,000
Total product revenues net11,970,600,00011,020,100,0009,869,200,000
Revenue by geography
United states7,548,600,0006,684,900,0006,040,400,000
Europe3,460,300,0003,453,900,0003,109,000,000
Other international992,400,000881,300,000719,800,000
Total outside the united states4,452,700,0004,335,200,0003,828,800,000
Total revenues12,001,300,00011,020,100,0009,869,200,000

VRTX quarterly income statement, balance sheet and cash flow

Q2 2026Q2 2025
Fiscal year20262025
Fiscal quarter22
LabelQ2 2026Q2 2025
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession0000875320-26-0002590000875320-26-000259
Income statement
Product revenues net3,333,900,0002,944,000,000
Other revenues020,700,000
Total revenues3,333,900,0002,964,700,000
Cost of sales489,200,000407,500,000
Research and development expenses993,800,000978,400,000
Acquired in process research and development expenses21,400,0002,200,000
Selling general and administrative expenses582,200,000424,600,000
Intangible asset impairment charge00
Change in fair value of contingent consideration400,000900,000
Total costs and expenses2,087,000,0001,813,600,000
Operating income1,246,900,0001,151,100,000
Interest income net120,600,000118,700,000
Other income expense net24,300,00013,200,000
Income before income taxes1,391,800,0001,283,000,000
Provision for income taxes292,000,000250,100,000
Net income1,099,800,0001,032,900,000
Basic shares253,700,000256,700,000
Diluted shares255,200,000258,900,000
Basic EPS4.344.02
Diluted EPS4.313.99
Gross profit2,844,700,0002,557,200,000
Balance sheet
Cash and cash equivalents6,143,500,000
Marketable securities1,708,900,000
Accounts receivable net2,134,300,000
Inventories1,765,100,000
Prepaid expenses and other current assets791,900,000
Total current assets12,543,700,000
Property and equipment net1,665,000,000
Goodwill1,088,000,000
Other intangible assets net412,800,000
Deferred tax assets3,010,900,000
Operating lease assets1,662,900,000
Long term marketable securities5,789,100,000
Other assets1,250,900,000
Total assets27,423,300,000
Accounts payable429,500,000
Accrued expenses3,179,000,000
Other current liabilities329,400,000
Total current liabilities3,937,900,000
Long term operating lease liabilities1,977,600,000
Other long term liabilities1,259,900,000
Total liabilities7,175,400,000
Additional paid in capital4,505,700,000
Retained earnings15,691,200,000
Total shareholders equity20,247,900,000
Cash and marketable securities13,641,500,000
Common shares issued and outstanding253,347,555
Total debt0
Revenue by product
Trikafta kaftrio2,497,200,0002,551,100,000
Alyftrek573,600,000156,800,000
Other cf product revenues137,100,000193,700,000
Total cf product revenues net3,207,900,0002,901,600,000
Casgevy76,400,00030,400,000
Journavx49,600,00012,000,000
Total product revenues net3,333,900,0002,944,000,000
Revenue by geography
United states2,056,400,0001,848,200,000
Europe977,700,000910,900,000
Other international299,800,000205,600,000
Total outside the united states1,277,500,0001,116,500,000
Total revenues3,333,900,0002,964,700,000

VRTX year-to-date income statement and cash flow

Six months ended June 30, 2026
LabelSix months ended June 30, 2026
Period start2026-01-01
Period end2026-06-30
Period typesix months
Source accession0000875320-26-000259
Income statement
Product revenues net6,320,800,000.0
Other revenues0.0
Total revenues6,320,800,000.0
Cost of sales882,000,000.0
Research and development expenses1,955,400,000.0
Acquired in process research and development expenses21,900,000.0
Selling general and administrative expenses1,075,900,000.0
Intangible asset impairment charge0.0
Change in fair value of contingent consideration600,000.0
Total costs and expenses3,935,800,000.0
Operating income2,385,000,000.0
Interest income net235,400,000.0
Other income expense net24,300,000.0
Income before income taxes2,644,700,000.0
Provision for income taxes513,500,000.0
Net income2,131,200,000.0
Basic shares253,900,000.0
Diluted shares255,700,000.0
Basic EPS8.39
Diluted EPS8.33
Gross profit5,438,800,000.0
Cash flow
Stock based compensation expense336,600,000.0
Depreciation and amortization expense112,400,000.0
Operating cash flow2,553,500,000.0
Capital expenditures-245,600,000.0
Investing cash flow-477,700,000.0
Repurchases of common stock-806,400,000.0
Financing cash flow-965,500,000.0
Cash paid for income taxes501,500,000.0
Free cash flow2,307,900,000.0
Revenue by product
Trikafta kaftrio4,851,900,000.0
Alyftrek998,000,000.0
Other cf product revenues273,000,000.0
Total cf product revenues net6,122,900,000.0
Casgevy119,300,000.0
Journavx78,600,000.0
Total product revenues net6,320,800,000.0
Revenue by geography
United states3,832,300,000.0
Europe1,927,700,000.0
Other international560,800,000.0
Total outside the united states2,488,500,000.0
Total revenues6,320,800,000.0

VRTX trailing twelve month income statement and cash flow

Trailing twelve months ended June 30, 2026
LabelTrailing twelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession0000875320-26-000056; 0000875320-26-000259
Derivationfiscal year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025
Income statement
Product revenues net12,587,200,000.0
Other revenues0.0
Total revenues12,587,200,000.0
Cost of sales1,762,800,000.0
Research and development expenses3,906,800,000.0
Acquired in process research and development expenses132,900,000.0
Selling general and administrative expenses2,008,000,000.0
Intangible asset impairment charge0.0
Change in fair value of contingent consideration-400,000.0
Total costs and expenses7,810,100,000.0
Operating income4,777,100,000.0
Interest income net476,400,000.0
Other income expense net21,000,000.0
Income before income taxes5,274,500,000.0
Provision for income taxes869,300,000.0
Net income4,405,200,000.0
Gross profit10,824,400,000.0
Cash flow
Stock based compensation expense689,100,000.0
Depreciation and amortization expense222,100,000.0
Operating cash flow4,292,900,000.0
Capital expenditures-496,800,000.0
Investing cash flow-882,800,000.0
Repurchases of common stock-2,005,900,000.0
Financing cash flow-2,197,200,000.0
Cash paid for income taxes1,370,500,000.0
Free cash flow3,796,100,000.0
Revenue by geography
United states7,869,200,000.0
Europe3,650,500,000.0
Other international1,067,500,000.0
Total outside the united states4,718,000,000.0
Total revenues12,587,200,000.0

Adjustments

Value
Splits appliednone
ADR ration/a
FXnone applied; the company reports in U.S. dollars

Notes

  • Every figure here is stated in actual U.S. dollars. Both filings print their statements in millions (share counts on the balance sheet are printed in full), and the scale stated at the head of each table has been applied; the note read for each statement is listed under "units_notes_seen".
  • Vertex is a single-segment commercial-stage biopharmaceutical company, so the record uses a standard product-revenue template: total revenues, cost of sales, research and development, acquired in-process research and development, selling, general and administrative expenses, operating income, net income and per-share amounts; cash and marketable securities, total assets and shareholders' equity; operating cash flow, capital expenditures and free cash flow. Revenue is additionally split by product and by geography, which is how the company itself describes the business in its segment note.
  • Sources. The three fiscal years come from the consolidated statements in the FY2025 Form 10-K (accession 0000875320-26-000056), filed February 13, 2026. The second quarter of 2026, the second quarter of 2025 and the six-month columns come from the condensed consolidated statements in the Form 10-Q for the quarter ended June 30, 2026 (accession 0000875320-26-000259), filed August 4, 2026.
  • Periods the two filings present, and therefore everything this record holds: fiscal years 2025, 2024 and 2023 on the income statement and the cash flow statement; December 31, 2025 and December 31, 2024 on the balance sheet; the three months ended June 30, 2026 and June 30, 2025; the six months ended June 30, 2026 and June 30, 2025; and the balance sheet at June 30, 2026. Fiscal 2023 therefore carries no balance sheet, because the 10-K's balance sheet presents only two year-ends.
  • The quarterly entries carry no cash flow block. The 10-Q presents its cash flow statement for the six months ended June 30, 2026 and 2025 only, and the company's second-quarter earnings release contains no cash flow statement, so no discrete three-month operating cash flow or free cash flow figure was published for either quarter. Six-month cash flows are in "year_to_date" and "prior_year_to_date".
  • The second quarter of 2025 carries no balance sheet: the 10-Q's balance sheet columns are June 30, 2026 and December 31, 2025, and a June 30, 2025 balance sheet is not presented in either filing.
  • Cash flow line items are stated as the filings print them, so cash outflows carry a negative sign. "capital_expenditures" is the "Purchases of property and equipment" line. "free_cash_flow" is operating cash flow less capital expenditures and is not a figure the company itself reports.
  • "gross_profit" is total revenues less cost of sales. Vertex does not print a gross profit subtotal on the face of its income statement, and cost of sales is struck against total revenues.
  • "interest_income_net" for the fiscal years is interest income less interest expense as the 10-K prints those two lines separately ($490.9 million less $13.3 million in 2025, $598.1 million less $30.6 million in 2024, and $614.7 million less $44.1 million in 2023). The 10-Q prints a single "Interest income, net" line, which is used directly for the quarters and six-month periods.
  • "total_debt" is zero in every period: neither balance sheet carries any borrowings. In July 2026, after the June 30, 2026 balance-sheet date, Vertex terminated the $500.0 million revolving credit agreement it had entered into in 2022 and entered into a new $500.0 million senior unsecured revolving facility that matures on July 30, 2031. On July 30, 2026 it also entered into a term loan credit agreement providing for a $4.5 billion senior unsecured delayed-draw term loan A facility, amounts under which would be used to finance a portion of the pending acquisition of Crinetics Pharmaceuticals, Inc. The Q2 2026 10-Q (accession 0000875320-26-000259) states that Vertex had not drawn upon either the new revolving facility or the term loan facility as of that filing, so "total_debt" remains zero.
  • "cash_and_marketable_securities" is the sum of cash and cash equivalents, short-term marketable securities and long-term marketable securities: $13,641.5 million at June 30, 2026, $12,320.4 million at December 31, 2025 and $11,223.8 million at December 31, 2024.
  • The trailing-twelve-month block is derived, not filed: fiscal year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. It carries no weighted-average share count or per-share amount, because a weighted average over that window is not a figure either filing publishes and summing four quarters of per-share data would not produce one.
  • The fiscal 2024 net loss of $535.6 million follows from $4,628.4 million of acquired in-process research and development expense recorded that year, against $133.0 million in 2025 and $527.1 million in 2023. Operating cash flow was also negative in 2024, at an outflow of $492.6 million.
  • The product split is reported at different levels of detail in the two filings, so the captions differ by period. The 10-K's annual table shows TRIKAFTA/KAFTRIO, ALYFTREK and a single "Other product revenues" line; the 10-Q's quarterly and six-month table separates other cystic fibrosis products from CASGEVY and JOURNAVX. The geographic split uses the same captions in both. Because the two product tables are not on the same basis, the trailing-twelve-month block carries the geographic split only.
  • No stock split, foreign-currency translation or depositary-share adjustment applies. The company has had no stock split in the period covered, reports in U.S. dollars, and its shares are listed directly rather than as depositary receipts.

Uncertainties

  • There is no discrete three-month cash flow figure for the second quarter of 2026 or the second quarter of 2025 anywhere in these filings, so none is reported. Anyone needing a quarterly operating cash flow would have to difference the six-month column against a first-quarter figure, which these two filings do not contain.
  • The trailing-twelve-month figures are arithmetic from three published columns rather than a period any filing reports. They are exact on that construction, but they are not an audited or filed period.
  • Fiscal 2023 has no balance sheet in this record, and the second quarter of 2025 has neither a balance sheet nor a cash flow statement. These are gaps in what the two filings present, not omissions in the reading.
  • Free cash flow is a derived measure, not one Vertex reports. It is stated here as operating cash flow less purchases of property and equipment, with no other deduction.

Prior year to date

Six months ended June 30, 2025
LabelSix months ended June 30, 2025
Period start2025-01-01
Period end2025-06-30
Period typesix months
Source accession0000875320-26-000259
Income statement
Product revenues net5,704,200,000.0
Other revenues30,700,000.0
Total revenues5,734,900,000.0
Cost of sales770,500,000.0
Research and development expenses1,958,100,000.0
Acquired in process research and development expenses22,000,000.0
Selling general and administrative expenses821,000,000.0
Intangible asset impairment charge379,000,000.0
Change in fair value of contingent consideration3,100,000.0
Total costs and expenses3,953,700,000.0
Operating income1,781,200,000.0
Interest income net236,600,000.0
Other income expense net-4,400,000.0
Income before income taxes2,013,400,000.0
Provision for income taxes334,200,000.0
Net income1,679,200,000.0
Basic shares256,800,000.0
Diluted shares259,200,000.0
Basic EPS6.54
Diluted EPS6.48
Gross profit4,964,400,000.0
Cash flow
Stock based compensation expense333,400,000.0
Depreciation and amortization expense100,100,000.0
Operating cash flow1,892,000,000.0
Capital expenditures-186,400,000.0
Investing cash flow-540,300,000.0
Repurchases of common stock-817,900,000.0
Financing cash flow-1,029,600,000.0
Cash paid for income taxes697,700,000.0
Free cash flow1,705,600,000.0
Revenue by product
Trikafta kaftrio5,086,600,000.0
Alyftrek210,700,000.0
Other cf product revenues349,000,000.0
Total cf product revenues net5,646,300,000.0
Casgevy44,600,000.0
Journavx13,300,000.0
Total product revenues net5,704,200,000.0
Revenue by geography
United states3,511,700,000.0
Europe1,737,500,000.0
Other international485,700,000.0
Total outside the united states2,223,200,000.0
Total revenues5,734,900,000.0

Company details

Value
NameVertex Pharmaceuticals Inc / Ma
TickerVRTX
CIK0000875320
ExchangeNasdaq
StateMassachusetts
IncorporationMassachusetts
SIC2834
OfficeLife Sciences
IndustryPharmaceutical Preparations

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0000875320-26-000259
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionUrlSource
annualno10-K2025FYFY252025-12-312026-02-130000875320-26-000056https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/0000875320-26-000056-index.htmreported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-08-040000875320-26-000259https://www.sec.gov/Archives/edgar/data/875320/000087532026000259/0000875320-26-000259-index.htmfacts

FAQ · Vertex Pharmaceuticals financial statements

How much revenue did Vertex Pharmaceuticals report in Q2 FY2026?

Vertex Pharmaceuticals reported $3.33 billion in total revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 12.5% from $2.96 billion in the same quarter a year earlier.

How much did Vertex Pharmaceuticals earn per share in Q2 FY2026?

Vertex Pharmaceuticals earned $4.31 per diluted share in Q2 FY2026, up 8.0% from $3.99 a year earlier, on net income of $1.1 billion.

Is TRIKAFTA revenue still growing for Vertex Pharmaceuticals?

No. TRIKAFTA/KAFTRIO, the largest medicine Vertex Pharmaceuticals sells, generated $2.50 billion in Q2 FY2026, down 2.1% from $2.55 billion a year earlier, as cystic fibrosis patients moved to the newer once-daily ALYFTREK.

How fast is ALYFTREK growing for Vertex Pharmaceuticals?

ALYFTREK, the once-daily cystic fibrosis triple combination Vertex Pharmaceuticals introduced after TRIKAFTA, generated $573.6 million in Q2 FY2026, up 265.8% from $156.8 million a year earlier, making it the main source of the company's revenue growth.

Where can I get Vertex Pharmaceuticals Incorporated (VRTX) financial data in machine-readable form?

Ticker Scout publishes Vertex Pharmaceuticals Incorporated's financial statements as JSON at https://tickerscout.ai/vrtx/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/vrtx/narrative.md and https://tickerscout.ai/vrtx/events.md. Vertex Pharmaceuticals Incorporated's SEC CIK is 0000875320. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Vertex Pharmaceuticals Incorporated (VRTX) next file with the SEC?

Vertex Pharmaceuticals Incorporated (VRTX) is expected to file its next Form 10-Q with the SEC on or around November 3, 2026. That date is a projection rather than a company-announced date: it is derived from Vertex Pharmaceuticals Incorporated's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000875320-26-000259.

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How this page was built

This page was built from two of Vertex Pharmaceuticals Incorporated's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names four such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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