Vertex Pharmaceuticals Incorporated stock research
FY2025 Q2
Vertex Pharmaceuticals (VRTX) Gross Margin — Quarter Ended Jun 30, 2025
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit also rose, but cost of revenue grew at a different pace, resulting in a gross margin that was slightly lower than the prior quarter and higher than the year-ago quarter.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit also rose, but cost of revenue grew at a different pace, resulting in a gross margin that was slightly lower than the prior quarter and higher than the year-ago quarter.
- The gross margin weakened sequentially as cost of revenue increased more than revenue, while it improved year over year as revenue growth outpaced cost growth.
- Compared to the prior quarter, gross margin was lower; compared to the same quarter last year, gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
86.3%
Gross profit
$2.6B
Revenue
$3.0B
Cost of revenue
$407.5M
Quarter-over-quarter change
-0.6 pts
Year-over-year change
+0.3 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 |
|---|---|---|---|---|
| Sep 30, 2024 | $2.8B | $2.4B | $392.6M | 85.8% |
| Dec 31, 2024 | $2.9B | $2.5B | $423.4M | 85.5% |
| Mar 31, 2025 | $2.8B | $2.4B | $363.0M | 86.9% |
| Jun 30, 2025 | $3.0B | $2.6B | $407.5M | 86.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-0.6 pts
Year-over-year change
Jun 30, 2024
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin weakened sequentially as cost of revenue increased more than revenue, while it improved year over year as revenue growth outpaced cost growth.
Compared to the prior quarter, gross margin was lower; compared to the same quarter last year, gross margin was higher.
Monitor inventory levels as the filing notes increased inventories following the commercial launches of ALYFTREK and JOURNAVX.