- Revenue: $6.67B, flat Y/Y
- Net Income: $1.32B vs -$4.17B Y/Y
- EPS: $1.04 vs -$3.34 Y/Y; Non-GAAP EPS: $1.81 vs -$1.32 Y/Y
CEO Daniel O’Day: “Our base business grew 4% YoY, led by Biktarvy’s continued strength and progress across our pipeline.”
🌱Revenue & Growth
- Total Product Sales: $6.61B, -1% Y/Y
- Ex-Veklury: $6.31B, +4%
- Veklury: $302M, -45%
- HIV Sales: $4.59B, +6%
- Biktarvy: $3.15B, +7%
- Descovy: $586M, +38%
- Liver Disease: $758M, +3%
- Oncology: $757M, -4%
- Trodelvy: $293M, -5%
- Yescarta: $386M, +2%
- Tecartus: $78M, -22%
💰Profits & Health
- Operating Margin: 33.6% GAAP, 43.4% Non-GAAP
- Gross Margin: 76.7% GAAP, 85.5% Non-GAAP
- Operating Cash Flow: $1.76B
- Free Cash Flow: $1.65B
- Cash & Equivalents: $7.93B (vs $9.99B in Dec 2024)
- Dividends Paid: $1.0B
- Stock Buybacks: $730M
📌Business Highlights
- Positive Phase 3 for Trodelvy + Keytruda in 1L TNBC
- Upcoming PDUFA (Jun 19) for twice-yearly lenacapavir (HIV PrEP)
- EMA validation for lenacapavir HIV PrEP in Europe
- Conditional EU approval for seladelpar (PBC)
- $1.8B Senior Notes repaid
🔮Future Outlook
- FY2025 Product Sales: $28.2B–$28.6B, unchanged
- Ex-Veklury: $26.8B–$27.2B
- Veklury: $1.4B
- FY2025 GAAP EPS: $5.65–$6.05 (lowered from $5.95–$6.35)
- FY2025 Non-GAAP EPS: $7.70–$8.10, unchanged
- Product Gross Margin (Non-GAAP): 85.0%–86.0%
- Effective Tax Rate (Non-GAAP): ~19%
