Filing Flows › Incyte (INCY) › Q2 2026 › vs Q2 2025
Incyte (INCY) Q2 2026 vs Q2 2025 (year over year)
Incyte's revenue rose $459M (+38%) from $1.2B in Q2 2025 to $1.7B in Q2 2026. The biggest changes: Net sales +$403M (+37%); NIKTIMVO +$24.2M (+67%); MINJUVI/MONJUVI +$22.6M (+72%). Operating margin 41.7% against 43.6% (-1.9 pts).
Incyte, Q2 2026: revenue $1.7B (+38% year over year), operating margin 41.7%, net earnings $586M, operating cash flow $508M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 41.7% | 43.6% | -1.9 pts |
| Net margin | 35.0% | 33.3% | +1.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| JAKAFI | $817M | $764M | $52.9M | +7% |
| OPZELURA | $450M | $164M | $285M | +173% |
| Product royalty revenues | $175M | $151M | $23.6M | +16% |
| ZYNYZ | $49.9M | $8.9M | $41.0M | +460% |
| Net sales | $1.5B | $1.1B | $403M | +37% |
| NIKTIMVO | $60.3M | $36.2M | $24.2M | +67% |
| MINJUVI/MONJUVI | $53.7M | $31.1M | $22.6M | +72% |
| OLUMIANT | $38.5M | $33.5M | $5.0M | +15% |
| PEMAZYRE | $23.4M | $22.2M | $1.2M | +6% |
| Milestone and contract revenues | $11.2M | $5.0M | $6.2M | +124% |
| Revenue | $1.7B | $1.2B | $459M | +38% |
| Other income, net | $53.6M | $27.7M | $25.9M | +94% |
| Operating profit | $698M | $530M | $168M | +32% |
| Costs & expenses | $976M | $685M | $291M | +42% |
| Pre-tax earnings | $752M | $558M | $194M | +35% |
| Net earnings | $586M | $405M | $181M | +45% |
| Income tax | $166M | $153M | $12.9M | +8% |
| Depreciation & amortization | $26.5M | $22.9M | $3.6M | +16% |
| Share-based compensation | $67.3M | $64.6M | $2.7M | +4% |
| Working capital & other | $172M | $448M | −$276M | -62% |
| Operating cash flow | $508M | $44.7M | $463M | 11× |
Questions
How much did Incyte's revenue grow year over year in Q2 2026?
Incyte's revenue rose $459M (+38%) from $1.2B in Q2 2025 to $1.7B in Q2 2026.
What drove Incyte's revenue change in Q2 2026?
Net sales +$403M (+37%); NIKTIMVO +$24.2M (+67%); MINJUVI/MONJUVI +$22.6M (+72%).