Biogen Inc. stock research
FY2023 Q2
Biogen (BIIB) Gross Margin — Quarter Ended Jun 30, 2023
Revenue remained stable compared to the prior quarter, while gross profit improved and cost of revenue declined, leading to a higher gross margin. Compared to the same quarter last year, revenue and gross profit were lower, cost of revenue was higher, and gross margin weakened.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue remained stable compared to the prior quarter, while gross profit improved and cost of revenue declined, leading to a higher gross margin. Compared to the same quarter last year, revenue and gross profit were lower, cost of revenue was higher, and gross margin weakened.
- The strongest observable margin driver is the reduction in cost of revenue relative to revenue, which directly improved gross profit and gross margin from the prior quarter.
- Gross margin improved from the prior quarter but was lower than the same quarter last year. Revenue was stable sequentially but declined year-over-year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
75.9%
Gross profit
$1.9B
Revenue
$2.5B
Cost of revenue
$592.7M
Quarter-over-quarter change
+2.8 pts
Year-over-year change
-5.4 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% |
| Jun 30, 2023 | $2.5B | $1.9B | $592.7M | 75.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
+2.8 pts
Year-over-year change
Jun 30, 2022
-5.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the reduction in cost of revenue relative to revenue, which directly improved gross profit and gross margin from the prior quarter.
Gross margin improved from the prior quarter but was lower than the same quarter last year. Revenue was stable sequentially but declined year-over-year.
Monitor the trajectory of cost of revenue, as its increase from the prior year contributed to the weakened gross margin.