Filing Flows › Vertex Pharmaceuticals (VRTX) › Q2 2026 › vs Q2 2025
Vertex Pharmaceuticals (VRTX) Q2 2026 vs Q2 2025 (year over year)
Vertex Pharmaceuticals's revenue rose $369M (+12%) from $3.0B in Q2 2025 to $3.3B in Q2 2026. The biggest changes: Total CF product revenues, net +$306M (+11%); CASGEVY +$46.0M (+151%); JOURNAVX +$37.6M (+313%). Operating margin 37.4% against 38.8% (-1.4 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 37.4% | 38.8% | -1.4 pts |
| Net margin | 33.0% | 34.8% | -1.9 pts |
| Free cash flow margin | 30.4% | 31.3% | -0.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| TRIKAFTA/KAFTRIO | $2.5B | $2.6B | −$53.9M | -2% |
| ALYFTREK | $574M | $157M | $417M | +266% |
| Other CF product revenues | $137M | $194M | −$56.6M | -29% |
| Total CF product revenues, net | $3.2B | $2.9B | $306M | +11% |
| CASGEVY | $76.4M | $30.4M | $46.0M | +151% |
| JOURNAVX | $49.6M | $12.0M | $37.6M | +313% |
| Revenue | $3.3B | $3.0B | $369M | +12% |
| Other income, net | $145M | $132M | $13.0M | +10% |
| Operating profit | $1.2B | $1.2B | $95.8M | +8% |
| Costs & expenses | $2.1B | $1.8B | $273M | +15% |
| Pre-tax earnings | $1.4B | $1.3B | $109M | +8% |
| Cost of revenue | $489M | $408M | $81.7M | +20% |
| Research & development | $994M | $978M | $15.4M | +2% |
| SG&A | $582M | $425M | $158M | +37% |
| Net earnings | $1.1B | $1.0B | $66.9M | +6% |
| Income tax | $292M | $250M | $41.9M | +17% |
| Depreciation & amortization | $56.5M | $51.7M | $4.8M | +9% |
| Share-based compensation | $170M | $167M | $2.9M | +2% |
| Working capital & other | $201M | $179M | $22.3M | +12% |
| Operating cash flow | $1.1B | $1.1B | $52.3M | +5% |
| Free cash flow (OCF − capex) | $1.0B | $927M | $85.8M | +9% |
| Capital expenditures | $112M | $146M | −$33.5M | -23% |
Questions
How much did Vertex Pharmaceuticals's revenue grow year over year in Q2 2026?
Vertex Pharmaceuticals's revenue rose $369M (+12%) from $3.0B in Q2 2025 to $3.3B in Q2 2026.
What drove Vertex Pharmaceuticals's revenue change in Q2 2026?
Total CF product revenues, net +$306M (+11%); CASGEVY +$46.0M (+151%); JOURNAVX +$37.6M (+313%).