Filing Flows › Neurocrine Biosciences (NBIX) › Q2 2026 › vs Q2 2025
Neurocrine Biosciences (NBIX) Q2 2026 vs Q2 2025 (year over year)
Neurocrine Biosciences's revenue rose $272M (+39%) from $688M in Q2 2025 to $959M in Q2 2026. The biggest changes: Net product sales +$272M (+40%); Collaboration revenues −$800K (-15%). Operating margin 15.8% against 21.2% (-5.4 pts).
Neurocrine Biosciences, Q2 2026: revenue $959M (+40% year over year), operating margin 15.8%, net earnings $144M, operating cash flow $136M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 15.8% | 21.2% | -5.4 pts |
| Net margin | 15.1% | 15.6% | -0.6 pts |
| Free cash flow margin | 13.4% | 13.0% | +0.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Net product sales | $954M | $682M | $272M | +40% |
| Collaboration revenues | $4.7M | $5.5M | −$800K | -15% |
| Revenue | $959M | $688M | $272M | +39% |
| Other income, net | $10.7M | $13.9M | −$3.2M | -23% |
| Operating profit | $152M | $146M | $5.9M | +4% |
| Costs & expenses | $808M | $542M | $266M | +49% |
| Pre-tax earnings | $162M | $160M | $2.7M | +2% |
| Cost of revenue | $23.2M | $11.3M | $11.9M | +105% |
| Research & development | $327M | $244M | $82.4M | +34% |
| SG&A | $440M | $286M | $153M | +54% |
| Net earnings | $144M | $108M | $36.9M | +34% |
| Income tax | $17.8M | $52.0M | −$34.2M | -66% |
| Depreciation & amortization | $24.8M | $7.3M | $17.5M | +240% |
| Share-based compensation | $65.0M | $52.8M | $12.2M | +23% |
| Working capital & other | $97.8M | $65.6M | $32.2M | +49% |
| Operating cash flow | $136M | $102M | $34.4M | +34% |
| Free cash flow (OCF − capex) | $129M | $89.5M | $39.1M | +44% |
| Capital expenditures | $7.8M | $12.5M | −$4.7M | -38% |
Questions
How much did Neurocrine Biosciences's revenue grow year over year in Q2 2026?
Neurocrine Biosciences's revenue rose $272M (+39%) from $688M in Q2 2025 to $959M in Q2 2026.
What drove Neurocrine Biosciences's revenue change in Q2 2026?
Net product sales +$272M (+40%); Collaboration revenues −$800K (-15%).