Filing Flows › Regeneron Pharmaceuticals (REGN) › Q2 2026 › vs Q2 2025
Regeneron Pharmaceuticals (REGN) Q2 2026 vs Q2 2025 (year over year)
Regeneron Pharmaceuticals's revenue rose $615M (+17%) from $3.7B in Q2 2025 to $4.3B in Q2 2026. The biggest changes: Collaboration revenue +$594M (+32%); Lynozyfic +$16.5M (—); Net product sales +$11.4M (+0.7%). Operating margin 30.1% against 29.4% (+0.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 30.1% | 29.4% | +0.8 pts |
| Net margin | 30.2% | 37.9% | -7.6 pts |
| Free cash flow margin | 13.3% | 25.2% | -11.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Collaboration revenue | $2.5B | $1.9B | $594M | +32% |
| Net product sales | $1.6B | $1.6B | $11.4M | +0.7% |
| Other revenue | $193M | $184M | $9.4M | +5% |
| Lynozyfic | $16.5M | $0 | $16.5M | — |
| Revenue | $4.3B | $3.7B | $615M | +17% |
| Other income, net | $234M | $439M | −$205M | -47% |
| Operating profit | $1.3B | $1.1B | $214M | +20% |
| Costs & expenses | $3.0B | $2.6B | $401M | +15% |
| Pre-tax earnings | $1.5B | $1.5B | $9.1M | +0.6% |
| Research & development | $1.6B | $1.4B | $210M | +15% |
| SG&A | $662M | $634M | $27.9M | +4% |
| Other operating costs | $704M | $540M | $163M | +30% |
| Net earnings | $1.3B | $1.4B | −$94.7M | -7% |
| Income tax | $231M | $127M | $104M | +82% |
| Depreciation & amortization | $124M | $135M | −$11.4M | -8% |
| Share-based compensation | $243M | $252M | −$8.7M | -3% |
| Working capital & other | $851M | $634M | $217M | +34% |
| Operating cash flow | $813M | $1.1B | −$331M | -29% |
| Free cash flow (OCF − capex) | $573M | $925M | −$353M | -38% |
| Capital expenditures | $240M | $219M | $21.2M | +10% |
Questions
How much did Regeneron Pharmaceuticals's revenue grow year over year in Q2 2026?
Regeneron Pharmaceuticals's revenue rose $615M (+17%) from $3.7B in Q2 2025 to $4.3B in Q2 2026.
What drove Regeneron Pharmaceuticals's revenue change in Q2 2026?
Collaboration revenue +$594M (+32%); Lynozyfic +$16.5M (—); Net product sales +$11.4M (+0.7%).