Incyte

INCY · Health Care · Market cap $24.8B

Q1 FY26 Jan 1 – Mar 31, 2026 reported Jul 28, 2026

Revenue$1.3B +21% year over year

Gross profit$1.2B

Operating profit$0.3B

Net profit$0.3B 24% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	1.3	100%	+21%
JAKAFI	0.8	62%
Product royalty revenues	0.2	15%	+34%
NIKTIMVO	0.1	8%
MINJUVI/MONJUVI	0.1	8%
Cost of revenue	−0.1	8%
Gross profit	1.2	92% margin	−1pp
Research & development	−0.5	41%	−1pp
SG&A	−0.3	26%	−5pp
Operating profit	0.3	24% margin	+4pp
Net profit	0.3	24%	+9pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.2	100%	+16%
JAKAFI	0.8	67%
OPZELURA	0.2	17%
Product royalty revenues	0.2	17%
Cost of revenue	−0.1	8%
Gross profit	1.1	94% margin	+1pp
Research & development	−0.3	41%	−68pp
SG&A	−0.3	27%	−2pp
Operating profit	0.5	44% margin	+89pp
Tax	−0.1
Net profit	0.4	33%	+76pp

All figures in billions of U.S. dollars, for Q4 FY24 (period ends Dec 31, 2024).
Item	Value	Share of revenue	Year over year
Revenue	1.2	100%	+16%
Product	1	83%	+18%
Royalty	0.2	17%	+6%
Cost of revenue	−0.1	8%
Gross profit	1.1	92% margin	−1pp
Research & development	−0.5	40%	−4pp
SG&A	−0.3	28%	−1pp
Operating profit	0.3	26% margin	+7pp
Tax	−0.1
Net profit	0.2	17%	−3pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	Jul 28, 2026	$1.3B	+21%	23%	$0.3B	24%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 29, 2025	$1.2B	+16%	42%	$0.4B	33%
Q4 FY24	Oct 1 – Dec 31, 2024	Feb 10, 2025	$1.2B	+16%	25%	$0.2B	17%