Incyte earnings date and guidance
MyStockButler's October 2026 analysis: Incyte's next results are expected on October 29, 2026. For Incyte, watch patient starts and patients remaining on therapy.
What has Incyte guided for 2026?
Incyte’s outlook calls for growth in 2026, but the sales forecast is not a promise of profit or cash generation.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Total net sales | Year to Dec 2026 | 5,130 | 5,260 | Jul 28, 2026 |
| Jakafi net sales | Year to Dec 2026 | 3,220 | 3,270 | Jul 28, 2026 |
| Opzelura net sales | Year to Dec 2026 | 1,050 | 1,100 | Jul 28, 2026 |
| Hematology and Oncology net sales | Year to Dec 2026 | 860 | 890 | Jul 28, 2026 |
| Total GAAP R&D and SG&A operating expenses | Year to Dec 2026 | 4,915 | 4,995 | Jul 28, 2026 |
| Total Non-GAAP R&D and SG&A operating expenses | Year to Dec 2026 | 4,625 | 4,695 | Jul 28, 2026 |
Has Incyte kept its past promises?
Management’s delivery record earns a middle score. Across the five-year check, Jakafi revenue met or beat guidance, but product costs exceeded guidance in three years and SG&A exceeded it in three of four years. A revised forecast that is later met is useful evidence, but it is not the same as meeting the original promise.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Jakafi net product revenues | 5 years | 3 | 2 | 0 |
| GAAP Cost of product revenues | 5 years | 3 | 2 | 0 |
| GAAP Selling, general and administrative expenses | 4 years | 3 | 1 | 0 |
How have Incyte's revenue and profit trended over the last eight quarters?
Excluding the reversal, quarterly revenue growth was 17.5%. Opzelura sales excluding the historical adjustment were about US$204 million, up 24%, while U.S. prescriptions rose 26%. The underlying business was therefore growing, and the rebate decision also improves future net sales.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,674,039 | 1,272,676 | 1,506,835 | 1,365,980 | 1,215,529 | 1,052,898 | 1,178,698 | 1,137,871 |
| Gross margin | 93.7% | 91.8% | 92.0% | 92.8% | 93.5% | 93.0% | 92.5% | 92.4% |
| Operating income | 697,898 | 301,117 | 335,859 | 443,518 | 530,314 | 205,168 | 301,513 | 146,085 |
| Net income | 585,605 | 303,330 | 299,279 | 424,169 | 404,999 | 158,203 | 201,212 | 106,456 |
| EPS, diluted | 2.81 | 1.47 | 1.46 | 2.11 | 2.04 | 0.80 | 1.02 | 0.54 |
| = Free cash flow | 495,249 | 359,151 | 521,424 | 544,642 | 25,667 | 262,898 | 363,834 | 305,684 |
What this means. The June 2026 profit looks unusually high partly because the company reversed a previous accounting charge, not because it received that amount in cash.
What should I watch in Incyte's next results?
The October 29 earnings call is the next commercial test. Patient starts show that people are beginning treatment. Patients remaining on therapy show whether use lasts. Those measures are stronger evidence than inventory shipped to a distributor.