Filing Flows › Vertex Pharmaceuticals (VRTX) › Q1 2025
Vertex Pharmaceuticals (VRTX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Vertex Pharmaceuticals (VRTX) reported revenue of $2.8B for the first quarter 2025 (Q1 2025), +3% from a year earlier and -5% from the quarter before. Operating margin was 22.7%, net earnings $646M (23.3% of revenue).
Vertex Pharmaceuticals, Q1 2025: revenue $2.8B (+3% year over year), operating margin 22.7%, net earnings $646M, operating cash flow $819M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.8B | -5% | +3% |
| Operating profit | $630M | -39% | -45% |
| Net earnings | $646M | -29% | -41% |
| Operating cash flow | $819M | +40% | -37% |
| Free cash flow | $778M | +58% | -37% |
What changed
Revenue was $2.8B in Q1 2025, up 3% year over year and down 5% from the previous quarter. TRIKAFTA/KAFTRIO was the largest line at 92% of revenue. TRIKAFTA/KAFTRIO added $0.05B year over year (up 2%), 65% of the total change. Other product revenues declined 17%.
Operating profit was $0.63B, a 22.7% margin (down 19.6 points year over year). Operating profit fell $0.51B even though revenue rose $0.08B versus a year earlier, so costs grew faster than sales. Total costs grew 38% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+423%). Net earnings were $0.65B, down 41% year over year. The effective tax rate was 11.5%.
Operating cash flow was $0.82B (down 37% year over year), 127% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.17B of share-based compensation. Working capital and other items used $0.04B. Capital expenditures of $0.04B left free cash flow of $0.78B.
Questions
What was Vertex Pharmaceuticals' revenue in the first quarter 2025?
Vertex Pharmaceuticals (VRTX) reported revenue of $2.8B for the first quarter 2025 (Q1 2025), +3% from a year earlier and -5% from the quarter before.
Was Vertex Pharmaceuticals profitable in the first quarter 2025?
Operating profit was $630M (22.7% of revenue) and net earnings $646M.