Filing Flows › Regeneron Pharmaceuticals (REGN) › Q3 2026 › vs Q3 2025
Regeneron Pharmaceuticals (REGN) Q3 2026 vs Q3 2025 (year over year)
Regeneron Pharmaceuticals's revenue rose $1.4B (+36%) from $3.8B in Q3 2025 to $5.1B in Q3 2026. The biggest changes: Collaboration revenue +$1.0B (+52%); Net product sales +$218M (+14%); Other revenue +$112M (+56%). Operating margin 40.0% against 27.3% (+12.7 pts).
Regeneron Pharmaceuticals, Q3 2026: revenue $5.1B (+36% year over year), operating margin 40.0%, net earnings $1.9B, operating cash flow $1.8B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 40.0% | 27.3% | +12.7 pts |
| Net margin | 38.1% | 38.9% | -0.8 pts |
| Free cash flow margin | 29.0% | 37.8% | -8.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Collaboration revenue | $3.0B | $2.0B | $1.0B | +52% |
| Net product sales | $1.8B | $1.6B | $218M | +14% |
| Other revenue | $310M | $198M | $112M | +56% |
| Lynozyfic | $19.0M | $800K | $18.2M | 24× |
| Other products | $800K | $0 | $800K | — |
| Revenue | $5.1B | $3.8B | $1.4B | +36% |
| Other income, net | $236M | $736M | −$501M | -68% |
| Operating profit | $2.0B | $1.0B | $1.0B | +99% |
| Costs & expenses | $3.1B | $2.7B | $340M | +12% |
| Pre-tax earnings | $2.3B | $1.8B | $521M | +30% |
| Research & development | $1.8B | $1.5B | $320M | +22% |
| SG&A | $678M | $658M | $20.0M | +3% |
| Other operating costs | $595M | $595M | $400K | +0.1% |
| Net earnings | $1.9B | $1.5B | $489M | +33% |
| Income tax | $335M | $303M | $32.1M | +11% |
| Depreciation & amortization | $121M | $137M | −$15.7M | -11% |
| Share-based compensation | $256M | $237M | $18.8M | +8% |
| Working capital & other | $542M | $215M | $327M | +152% |
| Operating cash flow | $1.8B | $1.6B | $165M | +10% |
| Free cash flow (OCF − capex) | $1.5B | $1.4B | $65.9M | +5% |
| Capital expenditures | $300M | $201M | $98.8M | +49% |
Questions
How much did Regeneron Pharmaceuticals's revenue grow year over year in Q3 2026?
Regeneron Pharmaceuticals's revenue rose $1.4B (+36%) from $3.8B in Q3 2025 to $5.1B in Q3 2026.
What drove Regeneron Pharmaceuticals's revenue change in Q3 2026?
Collaboration revenue +$1.0B (+52%); Net product sales +$218M (+14%); Other revenue +$112M (+56%).