Every 10-Q that Vertex Pharmaceuticals Inc (VRTX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow VRTX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VRTX filings page.
Vertex Pharmaceuticals reported strong Q2 2026 results, with total revenues of $3.33 billion versus $2.96 billion a year earlier and first‑half revenues of $6.32 billion versus $5.73 billion. Net income was $1.10 billion for the quarter and $2.13 billion year‑to‑date, with diluted EPS of $4.31 and $8.33, respectively. Growth was driven by cystic fibrosis therapies overall, particularly ALYFTREK, and expanding contributions from CASGEVY and JOURNAVX, while TRIKAFTA/KAFTRIO revenue declined modestly.
Income from operations reached $1.25 billion in Q2. Cost of sales rose to 14.7% of net product revenue, reflecting product mix. R&D spending was stable at $1.96 billion for the first half, while SG&A increased to $582.2 million in Q2 and $1.08 billion year‑to‑date as the company invested in new product launches. Operating cash flow strengthened to $2.55 billion in the first half.
Liquidity remains significant, with $13.64 billion in cash, cash equivalents and marketable securities and working capital of $8.61 billion as of June 30, 2026. Vertex repurchased 1.8 million shares for $799.5 million in the first half and has $2.6 billion remaining under its 2025 repurchase program. Strategically, it agreed to acquire Crinetics Pharmaceuticals for approximately $10.0 billion, backed by a new $4.5 billion term loan facility and a $500 million revolving credit facility, both currently undrawn, while also addressing an arbitration over ALYFTREK royalty rates.
Vertex Pharmaceuticals delivered strong Q1 2026 results, with total revenues of $2.99 billion, up 8% from Q1 2025. Growth was driven by continued cystic fibrosis (CF) therapies and rapid uptake of newer products ALYFTREK, CASGEVY and JOURNAVX.
Net income rose to $1.03 billion from $646.3 million, and diluted EPS increased to $4.02 from $2.49, helped by the absence of last year’s $379.0 million impairment and much lower acquired in-process R&D. Operating income nearly doubled to $1.14 billion.
R&D spending remained high at $961.6 million, while SG&A climbed 25% to $493.7 million as Vertex invests in launches like JOURNAVX and prepares povetacicept for IgA nephropathy. Cash, cash equivalents and marketable securities increased to $13.0 billion, even after $344.5 million of share repurchases in the quarter.
Vertex Pharmaceuticals (VRTX) reported higher Q3 results. Total revenues were $3,076.4 million, up from $2,771.9 million a year ago, driven by TRIKAFTA/KAFTRIO at $2,653.6 million and ALYFTREK at $247.0 million. Net income rose to $1,082.9 million with diluted EPS of $4.20 versus $4.01. Operating income was $1,186.2 million.
Year-to-date, total revenues reached $8,811.3 million and net income was $2,762.1 million. U.S. product revenues were $1,976.3 million; Europe contributed $836.9 million. “Other revenues” of $30.7 million year-to-date included upfront payments related to povetacicept regional agreements. The balance sheet remained strong with cash and cash equivalents of $4,939.6 million and long-term marketable securities of $5,722.8 million. The company repurchased 4.5 million shares for $1.9 billion year-to-date and has $3.5 billion remaining under its 2025 authorization. CASGEVY and JOURNAVX contributed $16.9 million and $19.6 million, respectively, within other product revenues in Q3.
Vertex Pharmaceuticals (VRTX) returned to solid profitability in Q2-25 after last year’s Alpine IPR&D hit. Product revenue rose 11.3% YoY to $2.94 bn, led by flagship CF combo TRIKAFTA/KAFTRIO ($2.55 bn, +4%) and the first full-quarter contribution from new CF triple ALYFTREK ($157 m). Gene-editing therapy CASGEVY and pain candidate JOURNAVX added $30 m and $12 m, respectively. Other revenue of $21 m reflects regional out-licences of povetacicept.
Cost discipline and the absence of 2024’s $4.4 bn Alpine charge lifted operating income to $1.15 bn (38.8% margin) versus a $3.5 bn loss a year ago. Net income reached $1.03 bn, or $3.99 diluted EPS (vs. LPS $13.92). Six-month revenue grew 7% to $5.73 bn and net income totalled $1.68 bn.
Balance sheet remains robust: cash & equivalents $4.97 bn and total liquidity (cash + marketable securities) $12.0 bn against no drawn debt. YTD operating cash flow was $1.89 bn. Shareholder returns accelerated: $818 m stock buybacks YTD under the $3 bn 2023 plan; a new $4 bn authorisation brings remaining capacity to $4.6 bn.
Strategic/other items:
- $379 m impairment on VX-264 (T1D) recorded in Q1.
- Up-front payments of $10 m (Zai Lab) and $20.6 m (Ono) for povetacicept rights booked as other revenue.
- Gross hedge loss of $192 m hit OCI; $222 m forward liabilities on balance sheet.
- Potential royalty dispute on ALYFTREK with third-party assignee of CFF rights disclosed.
Overall, Vertex shows continued CF franchise strength, early traction from pipeline launches, strong cash generation and active capital returns, partially offset by rising R&D spend and product concentration risk.