Filing Flows › BeOne Medicines (ONC) › Q2 2026 › vs Q2 2025
BeOne Medicines (ONC) Q2 2026 vs Q2 2025 (year over year)
BeOne Medicines's revenue rose $390M (+30%) from $1.3B in Q2 2025 to $1.7B in Q2 2026. The biggest changes: Product revenue, net +$396M (+31%); KYPROLIS −$4.3M (-22%); POBEVCY −$1.6M (-14%). Gross margin 89.8% against 87.5% (+2.3 pts).
BeOne Medicines, Q2 2026: revenue $1.7B (+30% year over year), operating margin 19.1%, net earnings $237M, operating cash flow $463M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 89.8% | 87.5% | +2.3 pts |
| Operating margin | 19.1% | 6.7% | +12.4 pts |
| Net margin | 13.9% | 7.2% | +6.7 pts |
| Free cash flow margin | 25.5% | 16.7% | +8.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| BRUKINSA | $1.2B | $950M | $298M | +31% |
| TEVIMBRA | $229M | $194M | $35.0M | +18% |
| XGEVA | $104M | $81.3M | $23.2M | +29% |
| Other | $37.8M | $21.1M | $16.7M | +79% |
| BLINCYTO | $36.5M | $25.6M | $10.9M | +43% |
| Other Revenue | $25.3M | $13.2M | $12.1M | +91% |
| Product revenue, net | $1.7B | $1.3B | $396M | +31% |
| KYPROLIS | $15.1M | $19.4M | −$4.3M | -22% |
| POBEVCY | $9.6M | $11.2M | −$1.6M | -14% |
| Revenue | $1.7B | $1.3B | $390M | +30% |
| Gross profit | $1.5B | $1.2B | $380M | +33% |
| Cost of revenue | $175M | $165M | $9.9M | +6% |
| Operating profit | $325M | $87.9M | $237M | +270% |
| Operating expenses | $1.2B | $1.1B | $143M | +13% |
| Pre-tax earnings | $312M | $99.5M | $213M | +214% |
| Other expense, net | $12.6M | −$11.7M | $24.3M | — |
| Research & development | $612M | $525M | $87.4M | +17% |
| SG&A | $593M | $538M | $55.3M | +10% |
| Net earnings | $237M | $94.3M | $143M | +151% |
| Income tax | $75.5M | $5.2M | $70.2M | 14× |
| Depreciation & amortization | $40.5M | $35.6M | $4.9M | +14% |
| Share-based compensation | $137M | $151M | −$13.4M | -9% |
| Working capital & other | $47.9M | −$17.1M | $65.0M | — |
| Operating cash flow | $463M | $264M | $199M | +76% |
| Free cash flow (OCF − capex) | $435M | $220M | $216M | +98% |
| Capital expenditures | $27.5M | $43.8M | −$16.4M | -37% |
Questions
How much did BeOne Medicines's revenue grow year over year in Q2 2026?
BeOne Medicines's revenue rose $390M (+30%) from $1.3B in Q2 2025 to $1.7B in Q2 2026.
What drove BeOne Medicines's revenue change in Q2 2026?
Product revenue, net +$396M (+31%); KYPROLIS −$4.3M (-22%); POBEVCY −$1.6M (-14%).