Biogen Inc. stock research
FY2023 Q1
Biogen (BIIB) Gross Margin — Quarter Ended Mar 31, 2023
Revenue was stable compared to the prior quarter but slightly lower than the same quarter last year. Gross profit decreased relative to both periods, driven by a higher cost of revenue, which caused gross margin to weaken.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue was stable compared to the prior quarter but slightly lower than the same quarter last year. Gross profit decreased relative to both periods, driven by a higher cost of revenue, which caused gross margin to weaken.
- The most observable driver of gross margin change is the increase in cost of revenue relative to revenue, as revenue remained stable quarter over quarter while cost of revenue rose.
- Compared to the immediately preceding quarter, gross margin weakened as cost of revenue increased while revenue was unchanged. Versus the same quarter one year earlier, gross margin also weakened, with revenue slightly lower and cost of revenue higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
73.1%
Gross profit
$1.8B
Revenue
$2.5B
Cost of revenue
$662.8M
Quarter-over-quarter change
n/a
Year-over-year change
-8.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $2.5B | $1.8B | $662.8M | 73.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Jun 30, 2022
-8.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver of gross margin change is the increase in cost of revenue relative to revenue, as revenue remained stable quarter over quarter while cost of revenue rose.
Compared to the immediately preceding quarter, gross margin weakened as cost of revenue increased while revenue was unchanged. Versus the same quarter one year earlier, gross margin also weakened, with revenue slightly lower and cost of revenue higher.
Monitor the trajectory of cost of revenue, as its increase relative to revenue has been the primary factor behind the gross margin decline.