Filing Flows › Vertex Pharmaceuticals (VRTX) › Q2 2025
Vertex Pharmaceuticals (VRTX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Vertex Pharmaceuticals (VRTX) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), +12% from a year earlier and +7% from the quarter before. Operating margin was 38.8%, net earnings $1.0B (34.8% of revenue).
Vertex Pharmaceuticals, Q2 2025: revenue $3.0B (+12% year over year), operating margin 38.8%, net earnings $1.0B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +7% | +12% |
| Operating profit | $1.2B | +83% | — |
| Net earnings | $1.0B | +60% | — |
| Operating cash flow | $1.1B | +31% | — |
| Free cash flow | $927M | +19% | — |
What changed
Revenue was $3.0B in Q2 2025, up 12% year over year and up 7% from the previous quarter. TRIKAFTA/KAFTRIO was the largest line at 86% of revenue. TRIKAFTA/KAFTRIO added $0.10B year over year (up 4%), 32% of the total change.
Operating profit was $1.2B, a 38.8% margin (up 171.7 points year over year). Total costs fell 71% while revenue rose 12%. The fastest-growing cost line was SG&A (+14%). Net earnings were $1.0B. The effective tax rate was 19.5%.
Operating cash flow was $1.1B, 104% 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 $0.18B. Capital expenditures of $0.15B left free cash flow of $0.93B.
Questions
What was Vertex Pharmaceuticals' revenue in the second quarter 2025?
Vertex Pharmaceuticals (VRTX) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), +12% from a year earlier and +7% from the quarter before.
Was Vertex Pharmaceuticals profitable in the second quarter 2025?
Operating profit was $1.2B (38.8% of revenue) and net earnings $1.0B.