Biogen Inc. stock research
FY2023 Q4
Biogen (BIIB) Gross Margin — Quarter Ended Dec 31, 2023
Revenue decreased from the prior quarter, but cost of revenue decreased at a faster rate, resulting in a slight improvement in gross margin. Compared to the same quarter last year, revenue was lower and cost of revenue was higher, leading to a weaker gross margin.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue decreased from the prior quarter, but cost of revenue decreased at a faster rate, resulting in a slight improvement in gross margin. Compared to the same quarter last year, revenue was lower and cost of revenue was higher, leading to a weaker gross margin.
- The change in cost of revenue relative to revenue was the most influential factor, as it decreased more quickly than revenue on a sequential basis and increased on a year-over-year basis.
- Gross margin improved slightly from the prior quarter, but weakened compared to the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
74.1%
Gross profit
$1.8B
Revenue
$2.4B
Cost of revenue
$618.3M
Quarter-over-quarter change
+0.2 pts
Year-over-year change
-3.5 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% |
| Sep 30, 2023 | $2.5B | $1.9B | $659.6M | 73.9% |
| Dec 31, 2023 | $2.4B | $1.8B | $618.3M | 74.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
+0.2 pts
Year-over-year change
Dec 31, 2022
-3.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in cost of revenue relative to revenue was the most influential factor, as it decreased more quickly than revenue on a sequential basis and increased on a year-over-year basis.
Gross margin improved slightly from the prior quarter, but weakened compared to the same quarter one year earlier.
Monitor the impact of the Reata acquisition and LEQEMBI commercialization on future cost and revenue trends, as referenced in the filing.