Biogen Inc. stock research
FY2024 Q3
Biogen (BIIB) Gross Margin — Quarter Ended Sep 30, 2024
Revenue remained stable compared with the prior quarter and the same quarter last year. Gross profit decreased from the prior quarter due to higher cost of revenue, resulting in a weakened gross margin, though the margin improved slightly from the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue remained stable compared with the prior quarter and the same quarter last year. Gross profit decreased from the prior quarter due to higher cost of revenue, resulting in a weakened gross margin, though the margin improved slightly from the year-ago period.
- The quarter-over-quarter weakening of gross margin was driven by a higher cost of revenue relative to stable revenue, while the year-over-year improvement corresponded to a lower cost of revenue compared with the same quarter last year.
- Compared with the immediately preceding quarter, gross margin weakened; compared with the same quarter one year earlier, gross margin improved.
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
$2.5B
Cost of revenue
$638.7M
Quarter-over-quarter change
-3.8 pts
Year-over-year change
+0.2 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 |
|---|---|---|---|---|
| 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% |
| Sep 30, 2024 | $2.5B | $1.8B | $638.7M | 74.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-3.8 pts
Year-over-year change
Sep 30, 2023
+0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The quarter-over-quarter weakening of gross margin was driven by a higher cost of revenue relative to stable revenue, while the year-over-year improvement corresponded to a lower cost of revenue compared with the same quarter last year.
Compared with the immediately preceding quarter, gross margin weakened; compared with the same quarter one year earlier, gross margin improved.
Monitor the trend in cost of revenue, which increased from both the prior quarter and the year-ago quarter.