Filing Flows › Incyte (INCY) › Q2 2026
Incyte (INCY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 28, 2026
Incyte (INCY) reported revenue of $1.7B for the second quarter 2026 (Q2 2026), +38% from a year earlier and +32% from the quarter before. Operating margin was 41.7%, net earnings $586M (35.0% of revenue).
Incyte, Q2 2026: revenue $1.7B (+38% year over year), operating margin 41.7%, net earnings $586M, operating cash flow $508M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +32% | +38% |
| Operating profit | $698M | +132% | +32% |
| Net earnings | $586M | +93% | +45% |
| Operating cash flow | $508M | +37% | 11× |
What changed
Revenue was $1.7B in Q2 2026, up 38% year over year and up 32% from the previous quarter. JAKAFI was the largest line at 49% of revenue. OPZELURA added $0.29B year over year (up 173%), 62% of the total change.
Operating profit was $0.70B, a 41.7% margin (down 1.9 points year over year). Of the extra revenue versus Q2 2025, 37% reached operating profit, below the 44% margin then. Total costs grew 42% against revenue growth of 38%. Net earnings were $0.59B, up 45% year over year. The effective tax rate was 22.1%.
Operating cash flow was $0.51B (up 1035% year over year), 87% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $0.17B.
Questions
What was Incyte's revenue in the second quarter 2026?
Incyte (INCY) reported revenue of $1.7B for the second quarter 2026 (Q2 2026), +38% from a year earlier and +32% from the quarter before.
Was Incyte profitable in the second quarter 2026?
Operating profit was $698M (41.7% of revenue) and net earnings $586M.
Source: Incyte 10-Q on SEC EDGAR.