Filing Flows › Regeneron Pharmaceuticals (REGN) › How it makes money
How Regeneron Pharmaceuticals (REGN) makes money
Regeneron Pharmaceuticals (REGN) made $5.1B of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Collaboration revenue brought in $3.0B (58%); Net product sales brought in $1.8B (35%); Other revenue brought in $310M (6%). Of every dollar of revenue, 40¢ was left as operating profit, 38¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Collaboration revenue | $3.0B | 58.4% | — | +52% |
| Net product sales | $1.8B | 35.2% | — | +14% |
| Other revenue | $310M | 6.0% | — | +56% |
| Lynozyfic | $19.0M | 0.4% | — | 24× |
| Other products | $800K | 0.0% | — | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $5.1B | 100.0% |
| Operating profit | $2.0B | 39.9% |
| Income tax | $335M | 6.5% |
| Net earnings | $1.9B | 37.9% |
| Operating cash flow | $1.8B | 34.7% |
| Free cash flow | $1.5B | 28.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $5.1B | +36% |
| Q2 2026 | $4.3B | +17% |
| Q1 2026 | $3.6B | +19% |
| Q4 2025 | $3.9B | +2% |
| Q3 2025 | $3.8B | +0.9% |
| Q2 2025 | $3.7B | +4% |
| Q1 2025 | $3.0B | -4% |
From Regeneron Pharmaceuticals' 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Regeneron Pharmaceuticals make money?
Regeneron Pharmaceuticals (REGN) made $5.1B of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Collaboration revenue brought in $3.0B (58%); Net product sales brought in $1.8B (35%); Other revenue brought in $310M (6%). Of every dollar of revenue, 40¢ was left as operating profit, 38¢ was left as net earnings.
What is Regeneron Pharmaceuticals' biggest business?
Collaboration revenue: $3.0B in the third quarter 2026, 58% of revenue, +52% from a year earlier.
What is Regeneron Pharmaceuticals' profit margin?
Net earnings were $1.9B, 37.9% of revenue, in the third quarter 2026; the operating margin was 39.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.