Biogen Inc. stock research
FY2024 Q2
Biogen (BIIB) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit were both higher than the prior quarter, while cost of revenue was slightly higher. Gross margin improved compared to both the prior quarter and the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit were both higher than the prior quarter, while cost of revenue was slightly higher. Gross margin improved compared to both the prior quarter and the same quarter one year earlier.
- Gross margin strengthened relative to both comparison periods, driven by a larger increase in gross profit relative to the change in revenue. Cost of revenue remained relatively stable across periods.
- Compared to the prior quarter, revenue and gross profit were higher, while cost of revenue was slightly higher, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue was stable, gross profit was higher, and cost of revenue was lower, also leading to an improved gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
77.8%
Gross profit
$1.9B
Revenue
$2.5B
Cost of revenue
$546.0M
Quarter-over-quarter change
+1.5 pts
Year-over-year change
+2.0 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $2.5B | $1.9B | $659.6M | 73.9% |
| Dec 31, 2023 | $2.4B | $1.8B | $618.3M | 74.1% |
| Mar 31, 2024 | $2.3B | $1.7B | $542.2M | 76.3% |
| Jun 30, 2024 | $2.5B | $1.9B | $546.0M | 77.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+1.5 pts
Year-over-year change
Jun 30, 2023
+2.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin strengthened relative to both comparison periods, driven by a larger increase in gross profit relative to the change in revenue. Cost of revenue remained relatively stable across periods.
Compared to the prior quarter, revenue and gross profit were higher, while cost of revenue was slightly higher, resulting in an improved gross margin. Compared to the same quarter one year earlier, revenue was stable, gross profit was higher, and cost of revenue was lower, also leading to an improved gross margin.
Monitor the trajectory of cost of revenue, which remained nearly flat sequentially despite higher revenue.