Filing Flows › Vertex Pharmaceuticals (VRTX) › Q3 2025
Vertex Pharmaceuticals (VRTX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Vertex Pharmaceuticals (VRTX) reported revenue of $3.1B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +4% from the quarter before. Operating margin was 38.6%, net earnings $1.1B (35.2% of revenue).
Vertex Pharmaceuticals, Q3 2025: revenue $3.1B (+11% year over year), operating margin 38.6%, net earnings $1.1B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | +4% | +11% |
| Operating profit | $1.2B | +3% | +6% |
| Net earnings | $1.1B | +5% | +4% |
| Operating cash flow | $1.2B | +16% | -9% |
| Free cash flow | $1.1B | +23% | -12% |
What changed
Revenue was $3.1B in Q3 2025, up 11% year over year and up 4% from the previous quarter. TRIKAFTA/KAFTRIO was the largest line at 86% of revenue. TRIKAFTA/KAFTRIO added $0.07B year over year (up 3%), 23% of the total change. Other product revenues declined 6%.
Operating profit was $1.2B, a 38.6% margin (down 1.7 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, below the 40% margin then. Total costs grew 14% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+244%). Net earnings were $1.1B, up 4% year over year. The effective tax rate was 16.6%.
Operating cash flow was $1.2B (down 9% year over year), 115% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.19B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.10B left free cash flow of $1.1B.
Questions
What was Vertex Pharmaceuticals' revenue in the third quarter 2025?
Vertex Pharmaceuticals (VRTX) reported revenue of $3.1B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +4% from the quarter before.
Was Vertex Pharmaceuticals profitable in the third quarter 2025?
Operating profit was $1.2B (38.6% of revenue) and net earnings $1.1B.