Filing Flows › Vertex Pharmaceuticals (VRTX) › Q1 2026
Vertex Pharmaceuticals (VRTX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Vertex Pharmaceuticals (VRTX) reported revenue of $3.0B for the first quarter 2026 (Q1 2026), +8% from a year earlier and -6% from the quarter before. Operating margin was 38.1%, net earnings $1.0B (34.5% of revenue).
Vertex Pharmaceuticals, Q1 2026: revenue $3.0B (+8% year over year), operating margin 38.1%, net earnings $1.0B, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -6% | +8% |
| Operating profit | $1.1B | -6% | +81% |
| Net earnings | $1.0B | -13% | +60% |
| Operating cash flow | $1.4B | +187% | +74% |
| Free cash flow | $1.3B | +271% | +66% |
What changed
Revenue was $3.0B in Q1 2026, up 8% year over year and down 6% from the previous quarter. TRIKAFTA/KAFTRIO was the largest line at 79% of revenue. ALYFTREK added $0.37B year over year (up 687%), 171% of the total change. Other CF product revenues declined 12%.
Operating profit was $1.1B, a 38.1% margin (up 15.4 points year over year). Of the extra revenue versus Q1 2025, 234% reached operating profit, above the 23% margin then. Total costs fell 14% while revenue rose 8%. The fastest-growing cost line was SG&A (+25%). Net earnings were $1.0B, up 60% year over year. The effective tax rate was 17.7%.
Operating cash flow was $1.4B (up 74% year over year), 138% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.17B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.13B left free cash flow of $1.3B.
Questions
What was Vertex Pharmaceuticals' revenue in the first quarter 2026?
Vertex Pharmaceuticals (VRTX) reported revenue of $3.0B for the first quarter 2026 (Q1 2026), +8% from a year earlier and -6% from the quarter before.
Was Vertex Pharmaceuticals profitable in the first quarter 2026?
Operating profit was $1.1B (38.1% of revenue) and net earnings $1.0B.