Biogen Inc. stock research
FY2025 Q1
Biogen (BIIB) Gross Margin — Quarter Ended Mar 31, 2025
Revenue for the quarter was lower than the immediately preceding quarter but higher than the same quarter one year earlier. Gross profit followed a similar pattern, while cost of revenue increased compared to both prior periods, resulting in a gross margin that weakened from both the prior quarter and the year-ago quarter.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue for the quarter was lower than the immediately preceding quarter but higher than the same quarter one year earlier. Gross profit followed a similar pattern, while cost of revenue increased compared to both prior periods, resulting in a gross margin that weakened from both the prior quarter and the year-ago quarter.
- Gross margin declined compared with both the immediately preceding quarter and the same quarter one year earlier, driven by a rise in cost of revenue that outpaced the change in revenue.
- Compared with the immediately preceding quarter, revenue was lower and cost of revenue was higher, leading to a weakened gross margin. Compared with the same quarter one year earlier, revenue was higher but cost of revenue rose more sharply, resulting in a weaker gross margin.
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
$629.3M
Quarter-over-quarter change
-2.1 pts
Year-over-year change
-2.2 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 |
|---|---|---|---|---|
| Jun 30, 2024 | $2.5B | $1.9B | $546.0M | 77.8% |
| Sep 30, 2024 | $2.5B | $1.8B | $638.7M | 74.1% |
| Dec 31, 2024 | $2.5B | $1.9B | $583.5M | 76.2% |
| Mar 31, 2025 | $2.4B | $1.8B | $629.3M | 74.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-2.1 pts
Year-over-year change
Mar 31, 2024
-2.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin declined compared with both the immediately preceding quarter and the same quarter one year earlier, driven by a rise in cost of revenue that outpaced the change in revenue.
Compared with the immediately preceding quarter, revenue was lower and cost of revenue was higher, leading to a weakened gross margin. Compared with the same quarter one year earlier, revenue was higher but cost of revenue rose more sharply, resulting in a weaker gross margin.
Monitor the trajectory of cost of revenue, as its growth relative to revenue has compressed gross margin.