Incyte Corporation stock research
FY2024 Q3
Incyte (INCY) Gross Margin — Quarter Ended Sep 30, 2024
Revenue and gross profit increased compared with both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin was slightly lower than in both comparative periods, indicating a modest weakening.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue and gross profit increased compared with both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin was slightly lower than in both comparative periods, indicating a modest weakening.
- Revenue and cost of revenue both increased, with cost of revenue rising at a relatively faster pace than revenue. This relationship is the key observable factor in the gross margin movement.
- Revenue was higher than both the immediately preceding quarter and the same quarter a year earlier. Cost of revenue was also higher in both comparisons, while gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
92.4%
Gross profit
$1.1B
Revenue
$1.1B
Cost of revenue
$86.0M
Quarter-over-quarter change
-0.2 pts
Year-over-year change
-1.0 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $1.0B | $943.6M | $69.8M | 93.1% |
| Mar 31, 2024 | $880.9M | $819.9M | $61.0M | 93.1% |
| Jun 30, 2024 | $1.0B | $967.1M | $76.6M | 92.7% |
| Sep 30, 2024 | $1.1B | $1.1B | $86.0M | 92.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.2 pts
Year-over-year change
Sep 30, 2023
-1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Revenue and cost of revenue both increased, with cost of revenue rising at a relatively faster pace than revenue. This relationship is the key observable factor in the gross margin movement.
Revenue was higher than both the immediately preceding quarter and the same quarter a year earlier. Cost of revenue was also higher in both comparisons, while gross margin was lower.
Monitor developments related to potential generic competition for JAKAFI, as noted in the filing.