earnings
confidence high
sentiment neutral
materiality 0.70
Vertex Q1 revenue $2.77B (+3% YoY); GAAP net income falls to $646M on $379M impairment; FY guidance raised
VERTEX PHARMACEUTICALS INC / MA
2025-Q1 EPS reported
$2.49
revenue$2,770,200,000
- Revenue $2.77B, +3% YoY; US revenue +9% to $1.66B, ex-US -5% to $1.11B due to Russia IP violation.
- GAAP net income $646M vs $1.1B Q1 2024; includes $379M impairment charge on discontinued VX-264 T1D program.
- Non-GAAP net income $1.1B vs $1.2B; combined non-GAAP R&D, AIPR&D and SG&A expenses $1.2B.
- Raised FY2025 revenue guidance low end to $11.85B-$12B (from $11.75B-$12B); reiterates expense guidance.
- JOURNAVX launch: >20,000 prescriptions filled since March; ~94M lives have covered access.