Filing Flows › Vertex Pharmaceuticals (VRTX) › Q3 2026 › vs Q2 2026
Vertex Pharmaceuticals (VRTX) Q3 2026 vs Q2 2026 (quarter over quarter)
Vertex Pharmaceuticals's revenue rose $107M (+3%) from $3.3B in Q2 2026 to $3.4B in Q3 2026. The biggest changes: Total CF product revenues, net +$65.3M (+2%); CASGEVY +$22.8M (+30%); JOURNAVX +$8.7M (+18%). Operating margin 20.7% against 37.4% (-16.7 pts).
Vertex Pharmaceuticals, Q3 2026: revenue $3.4B (+12% year over year), operating margin 20.7%, net earnings $654M, operating cash flow $643M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.7% | 37.4% | -16.7 pts |
| Net margin | 19.0% | 33.0% | -14.0 pts |
| Free cash flow margin | 15.9% | 30.4% | -14.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| TRIKAFTA/KAFTRIO | $2.4B | $2.5B | −$60.3M | -2% |
| ALYFTREK | $706M | $574M | $132M | +23% |
| Other CF product revenues | $130M | $137M | −$6.6M | -5% |
| Total CF product revenues, net | $3.3B | $3.2B | $65.3M | +2% |
| CASGEVY | $99.2M | $76.4M | $22.8M | +30% |
| JOURNAVX | $58.3M | $49.6M | $8.7M | +18% |
| Revenue | $3.4B | $3.3B | $107M | +3% |
| Other income, net | $70.5M | $145M | −$74.4M | -51% |
| Operating profit | $713M | $1.2B | −$534M | -43% |
| Costs & expenses | $2.7B | $2.1B | $641M | +31% |
| Pre-tax earnings | $783M | $1.4B | −$608M | -44% |
| Cost of revenue | $526M | $489M | $36.9M | +8% |
| Research & development | $1.3B | $994M | $327M | +33% |
| SG&A | $844M | $582M | $262M | +45% |
| Other operating costs | $37.1M | $21.8M | $15.3M | +70% |
| Net earnings | $654M | $1.1B | −$446M | -41% |
| Income tax | $130M | $292M | −$162M | -56% |
| Depreciation & amortization | $69.2M | $56.5M | $12.7M | +22% |
| Share-based compensation | $174M | $170M | $4.2M | +2% |
| Working capital & other | $254M | $201M | $53.0M | +26% |
| Operating cash flow | $643M | $1.1B | −$482M | -43% |
| Free cash flow (OCF − capex) | $546M | $1.0B | −$467M | -46% |
| Capital expenditures | $97.3M | $112M | −$14.9M | -13% |
Questions
How much did Vertex Pharmaceuticals's revenue grow quarter over quarter in Q3 2026?
Vertex Pharmaceuticals's revenue rose $107M (+3%) from $3.3B in Q2 2026 to $3.4B in Q3 2026.
What drove Vertex Pharmaceuticals's revenue change in Q3 2026?
Total CF product revenues, net +$65.3M (+2%); CASGEVY +$22.8M (+30%); JOURNAVX +$8.7M (+18%).