Vertex Pharmaceuticals Incorporated stock research
FY2025 Q3
Vertex Pharmaceuticals (VRTX) Gross Margin — Quarter Ended Sep 30, 2025
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit expanded at a slightly faster rate than revenue, resulting in a modest improvement in gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit expanded at a slightly faster rate than revenue, resulting in a modest improvement in gross margin.
- Gross margin improved relative to both comparison periods, supported by gross profit growth that outpaced revenue growth.
- Compared to the immediately preceding quarter, gross margin was slightly higher. Versus the same quarter one year earlier, gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
86.5%
Gross profit
$2.7B
Revenue
$3.1B
Cost of revenue
$414.8M
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.7 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, 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% |
| Sep 30, 2025 | $3.1B | $2.7B | $414.8M | 86.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+0.3 pts
Year-over-year change
Sep 30, 2024
+0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin improved relative to both comparison periods, supported by gross profit growth that outpaced revenue growth.
Compared to the immediately preceding quarter, gross margin was slightly higher. Versus the same quarter one year earlier, gross margin was also higher.
Monitor the trajectory of cost of revenue relative to revenue, as its increase has accompanied revenue growth.