Filing Flows › Vertex Pharmaceuticals (VRTX) › Q2 2026 › vs Q1 2026
Vertex Pharmaceuticals (VRTX) Q2 2026 vs Q1 2026 (quarter over quarter)
Vertex Pharmaceuticals's revenue rose $347M (+12%) from $3.0B in Q1 2026 to $3.3B in Q2 2026. The biggest changes: Total CF product revenues, net +$293M (+10%); CASGEVY +$33.5M (+78%); JOURNAVX +$20.6M (+71%). Operating margin 37.4% against 38.1% (-0.7 pts).
Vertex Pharmaceuticals, Q2 2026: revenue $3.3B (+12% year over year), operating margin 37.4%, net earnings $1.1B, operating cash flow $1.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 37.4% | 38.1% | -0.7 pts |
| Net margin | 33.0% | 34.5% | -1.5 pts |
| Free cash flow margin | 30.4% | 43.3% | -13.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| TRIKAFTA/KAFTRIO | $2.5B | $2.4B | $142M | +6% |
| ALYFTREK | $574M | $424M | $149M | +35% |
| Other CF product revenues | $137M | $136M | $1.2M | +0.9% |
| Total CF product revenues, net | $3.2B | $2.9B | $293M | +10% |
| CASGEVY | $76.4M | $42.9M | $33.5M | +78% |
| JOURNAVX | $49.6M | $29.0M | $20.6M | +71% |
| Revenue | $3.3B | $3.0B | $347M | +12% |
| Other income, net | $145M | $115M | $30.1M | +26% |
| Operating profit | $1.2B | $1.1B | $109M | +10% |
| Costs & expenses | $2.1B | $1.8B | $238M | +13% |
| Pre-tax earnings | $1.4B | $1.3B | $139M | +11% |
| Cost of revenue | $489M | $393M | $96.4M | +25% |
| Research & development | $994M | $962M | $32.2M | +3% |
| SG&A | $582M | $494M | $88.5M | +18% |
| Net earnings | $1.1B | $1.0B | $68.4M | +7% |
| Income tax | $292M | $222M | $70.5M | +32% |
| Depreciation & amortization | $56.5M | $55.9M | $600K | +1% |
| Share-based compensation | $170M | $166M | $3.8M | +2% |
| Working capital & other | $201M | −$174M | $376M | — |
| Operating cash flow | $1.1B | $1.4B | −$303M | -21% |
| Free cash flow (OCF − capex) | $1.0B | $1.3B | −$282M | -22% |
| Capital expenditures | $112M | $133M | −$21.2M | -16% |
Questions
How much did Vertex Pharmaceuticals's revenue grow quarter over quarter in Q2 2026?
Vertex Pharmaceuticals's revenue rose $347M (+12%) from $3.0B in Q1 2026 to $3.3B in Q2 2026.
What drove Vertex Pharmaceuticals's revenue change in Q2 2026?
Total CF product revenues, net +$293M (+10%); CASGEVY +$33.5M (+78%); JOURNAVX +$20.6M (+71%).