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Vir Biotechnology (VIR) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · Vir Biotechnology (VIR) Q2 2026 earnings results →
Q2 2026 Revenue up 19582% year over year to $239M · 34¢ of every $1 of revenue kept as net profit · operating margin 30.7%
Vir Biotechnology made $239M in Q2 2026 (197× Y/Y): License and collaboration revenue $239M, Grant revenue $11K. Operating margin 30.7%, net earnings $80.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $238.9M in Q2 2026, up 19583% year over year. License and collaboration revenue was the largest line at 100% of revenue. License and collaboration revenue added $239.4M year over year, 101% of the total change. Grant revenue declined 94%.
Operating profit was $73.5M, a 30.7% margin (up 9785.0 points year over year). Total costs grew 38% against revenue growth of 19583%. The fastest-growing cost line was Research & development (+39%). Net earnings were $80.1M. The effective tax rate was 0.2%.
Operating cash flow was $123.3M, 154% of net earnings. Non-cash charges added back $2.8M of depreciation and amortization and $12.4M of share-based compensation. Working capital and other items added $28.1M. Capital expenditures of $32K left free cash flow of $123.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 5, 2026 | $239M | 197× | 30.7% | $80.1M | $123M |
| Q4 2025 | 10-K | Feb 23, 2026 | $64.1M | +418% | -74.8% | −$42.9M | −$25.9M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $240K | -90% | n/m | −$163M | −$168M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $1.2M | -60% | n/m | −$111M | −$120M |
| Q1 2025 | 10-Q | May 8, 2025 | $3.0M | -95% | n/m | −$121M | −$78.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Vir Biotechnology
Vir Biotechnology, Inc. (including its subsidiaries, referred to as “Vir Bio,” “the Company,” “we,” “our” or “us”) is a clinical-stage biopharmaceutical company focused on powering the immune system to transform lives by discovering and developing medicines for serious infectious diseases and cancer. These diseases represent formidable challenges to human health. Under normal conditions, our immune system is naturally equipped to protect us by identifying and eradicating both cancer cells and viruses. However, these threats have evolved sophisticated mechanisms to evade our immune defenses. When cancer cells or viruses successfully bypass our immune system, they have the potential to cause diseases that may be life-threatening.
In its own words, from its 10-K, filed Feb 23, 2026.
Vir Biotechnology against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 197× against the peers' median +29%. Operating margin: 30.7% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VIR Vir Biotechnology | Q2 2026 | $239M | 197× | 30.7% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Vir Biotechnology 10-Q on SEC EDGAR · CIK 1706431 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
13F: who owns VIR and who is buying
More on VIR
- How Vir Biotechnology makes money: revenue by segment
- Vir Biotechnology next earnings date and what analysts expect
- Vir Biotechnology stock forecast, price target and fair value
- Who owns Vir Biotechnology stock: holders, funds and Congress trades
- Vir Biotechnology guidance and outlook
- Vir Biotechnology recalls, complaints and regulation
History
Every quarter: Q2 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results