Filing Flows › Incyte (INCY) › Q1 2026
Incyte (INCY) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Incyte (INCY) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +21% from a year earlier and -16% from the quarter before. Operating margin was 23.7%, net earnings $303M (23.8% of revenue).
Incyte, Q1 2026: revenue $1.3B (+21% year over year), operating margin 23.7%, net earnings $303M, operating cash flow $369M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -16% | +21% |
| Operating profit | $301M | -10% | +47% |
| Net earnings | $303M | +1% | +92% |
| Operating cash flow | $369M | -32% | +39% |
What changed
Revenue was $1.3B in Q1 2026, up 21% year over year and down 16% from the previous quarter. JAKAFI was the largest line at 60% of revenue. JAKAFI added $0.05B year over year (up 7%), 22% of the total change. TABRECTA Royalty Revenues declined 7%.
Operating profit was $0.30B, a 23.7% margin (up 4.2 points year over year). Of the extra revenue versus Q1 2025, 44% reached operating profit, above the 19% margin then. Total costs grew 15% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+99%). Net earnings were $0.30B, up 92% year over year. The effective tax rate was 11.7%.
Operating cash flow was $0.37B (up 39% year over year), 122% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.02B.
Questions
What was Incyte's revenue in the first quarter 2026?
Incyte (INCY) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +21% from a year earlier and -16% from the quarter before.
Was Incyte profitable in the first quarter 2026?
Operating profit was $301M (23.7% of revenue) and net earnings $303M.
Source: Incyte 10-Q on SEC EDGAR.