Incyte Corporation stock research
FY2024 Q1
Incyte (INCY) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit decreased from the previous quarter but increased from the same quarter a year earlier. Cost of revenue followed a similar pattern, resulting in a gross margin that was stable sequentially and slightly improved year-over-year.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit decreased from the previous quarter but increased from the same quarter a year earlier. Cost of revenue followed a similar pattern, resulting in a gross margin that was stable sequentially and slightly improved year-over-year.
- The gross margin remained stable as cost of revenue moved proportionally with revenue, reflecting consistent cost management.
- Compared to the prior quarter, revenue and gross profit were lower, while cost of revenue was also lower. Compared to the same quarter last year, revenue, gross profit, and cost of revenue were all higher. Gross margin was stable sequentially and slightly improved year-over-year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
93.1%
Gross profit
$819.9M
Revenue
$880.9M
Cost of revenue
$61.0M
Quarter-over-quarter change
-0.0 pts
Year-over-year change
+0.1 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, 2023 | $954.6M | $886.3M | $68.3M | 92.8% |
| Sep 30, 2023 | $919.0M | $858.9M | $60.1M | 93.5% |
| Dec 31, 2023 | $1.0B | $943.6M | $69.8M | 93.1% |
| Mar 31, 2024 | $880.9M | $819.9M | $61.0M | 93.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-0.0 pts
Year-over-year change
Mar 31, 2023
+0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin remained stable as cost of revenue moved proportionally with revenue, reflecting consistent cost management.
Compared to the prior quarter, revenue and gross profit were lower, while cost of revenue was also lower. Compared to the same quarter last year, revenue, gross profit, and cost of revenue were all higher. Gross margin was stable sequentially and slightly improved year-over-year.
Monitor the potential impact of generic competition for JAKAFI, as noted in the filing, which could affect future revenue and margins.