Vertex Pharmaceuticals Incorporated stock research
FY2026 Q1
Vertex Pharmaceuticals (VRTX) Gross Margin & Quarterly History
Explore Vertex Pharmaceuticals Incorporated (VRTX) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue decreased while gross profit declined slightly and cost of revenue fell, leading to a higher gross margin. The gross margin improved compared to the prior quarter but was mixed relative to the same quarter last year.
- The gross margin improved sequentially as cost of revenue declined at a faster pace than revenue. The strongest observable driver is the reduction in cost of revenue relative to revenue.
- Compared to the prior quarter, gross margin was higher as cost of revenue fell while revenue and gross profit decreased. Versus the same quarter last year, gross margin was slightly lower as cost of revenue grew faster than revenue and gross profit.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
86.8%
Gross profit
$2.6B
Revenue
$3.0B
Cost of revenue
$392.8M
Quarter-over-quarter change
+1.5 pts
Year-over-year change
-0.0 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 |
|---|---|---|---|---|
| Jun 30, 2025 | $3.0B | $2.6B | $407.5M | 86.3% |
| Sep 30, 2025 | $3.1B | $2.7B | $414.8M | 86.5% |
| Dec 31, 2025 | $3.2B | $2.7B | $466.0M | 85.4% |
| Mar 31, 2026 | $3.0B | $2.6B | $392.8M | 86.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+1.5 pts
Year-over-year change
Mar 31, 2025
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially as cost of revenue declined at a faster pace than revenue. The strongest observable driver is the reduction in cost of revenue relative to revenue.
Compared to the prior quarter, gross margin was higher as cost of revenue fell while revenue and gross profit decreased. Versus the same quarter last year, gross margin was slightly lower as cost of revenue grew faster than revenue and gross profit.
Monitor the trajectory of cost of revenue given its faster growth compared to the prior year period.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Vertex Pharmaceuticals Incorporated (VRTX) | 86.8% |