Filing Flows › Regeneron Pharmaceuticals (REGN) › Q2 2026 › vs Q1 2026
Regeneron Pharmaceuticals (REGN) Q2 2026 vs Q1 2026 (quarter over quarter)
Regeneron Pharmaceuticals's revenue rose $685M (+19%) from $3.6B in Q1 2026 to $4.3B in Q2 2026. The biggest changes: Collaboration revenue +$555M (+29%); Net product sales +$108M (+7%); Other revenue +$22.1M (+13%). Operating margin 30.1% against 17.8% (+12.3 pts).
Regeneron Pharmaceuticals, Q2 2026: revenue $4.3B (+17% year over year), operating margin 30.1%, net earnings $1.3B, operating cash flow $813M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 30.1% | 17.8% | +12.3 pts |
| Net margin | 30.2% | 20.2% | +10.1 pts |
| Free cash flow margin | 13.3% | 23.5% | -10.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Collaboration revenue | $2.5B | $1.9B | $555M | +29% |
| Net product sales | $1.6B | $1.5B | $108M | +7% |
| Other revenue | $193M | $171M | $22.1M | +13% |
| Lynozyfic | $16.5M | $11.2M | $5.3M | +47% |
| Revenue | $4.3B | $3.6B | $685M | +19% |
| Other income, net | $234M | $188M | $46.0M | +24% |
| Operating profit | $1.3B | $643M | $651M | +101% |
| Costs & expenses | $3.0B | $3.0B | $34.7M | +1% |
| Pre-tax earnings | $1.5B | $831M | $697M | +84% |
| Research & development | $1.6B | $1.5B | $88.1M | +6% |
| SG&A | $662M | $648M | $14.4M | +2% |
| Other operating costs | $704M | $771M | −$67.8M | -9% |
| Net earnings | $1.3B | $727M | $570M | +78% |
| Income tax | $231M | $104M | $127M | +122% |
| Depreciation & amortization | $124M | $123M | $500K | +0.4% |
| Share-based compensation | $243M | $257M | −$14.4M | -6% |
| Working capital & other | $851M | $28.9M | $822M | 29× |
| Operating cash flow | $813M | $1.1B | −$266M | -25% |
| Free cash flow (OCF − capex) | $573M | $848M | −$276M | -32% |
| Capital expenditures | $240M | $231M | $9.6M | +4% |
Questions
How much did Regeneron Pharmaceuticals's revenue grow quarter over quarter in Q2 2026?
Regeneron Pharmaceuticals's revenue rose $685M (+19%) from $3.6B in Q1 2026 to $4.3B in Q2 2026.
What drove Regeneron Pharmaceuticals's revenue change in Q2 2026?
Collaboration revenue +$555M (+29%); Net product sales +$108M (+7%); Other revenue +$22.1M (+13%).