Vertex earnings date and guidance
Vertex's next results are expected on November 2, 2026. Vertex's next release should show how Crinetics affects revenue, integration costs and financing.
What has Vertex guided for 2026?
Vertex has raised its 2026 outlook, but that forecast still excludes the full effect of Crinetics.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Total revenue | Year to Dec 2026 | 13,100.0 | 13,200.0 | Aug 3, 2026 |
| Non-CF product revenue | Year to Dec 2026 | 500.0 | Aug 3, 2026 | |
| Combined GAAP R&D, AIPR&D and SG&A expenses | Year to Dec 2026 | 6,300.0 | 6,450.0 | Aug 3, 2026 |
| Combined non-GAAP R&D, AIPR&D and SG&A expenses | Year to Dec 2026 | 5,650.0 | 5,750.0 | Aug 3, 2026 |
| Non-GAAP effective tax rate | Year to Dec 2026 | 19.5% | 20.5% | Aug 3, 2026 |
| Stock-based compensation expense | Year to Dec 2026 | 650.0 | 700.0 | Aug 3, 2026 |
What this means. These are company forecasts, not final results, and they leave out Crinetics until the transaction’s accounting and financial effects are reported on November 2.
Did Vertex keep its past promises?
Management also delivered a major launch. JOURNAVX received U.S. approval on January 30, 2025, and more than 550,000 prescriptions had been written and filled by year-end. But later commentary pointed to a slower path for normalizing revenue deductions than expected. Delivering a medicine and delivering the expected commercial economics are different achievements.
What are Vertex's last eight quarters of revenue and profit?
Profit grew more slowly. Gross margin declined from 86.3% to 85.3%. Operating income rose to $1,246.9 million from $1,151.1 million, while net income increased to $1,099.8 million. Commercial spending on JOURNAVX and the kidney franchise, together with a higher tax rate, absorbed part of the sales growth.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,333.9 | 2,986.9 | 3,190.0 | 3,076.4 | 2,964.7 | 2,770.2 | 2,912.0 | 2,771.9 |
| Gross margin | 85.3% | 86.8% | 85.4% | 86.5% | 86.3% | 86.9% | 85.5% | 85.8% |
| Operating income | 1,246.9 | 1,138.1 | 1,205.9 | 1,186.2 | 1,151.1 | 630.1 | 1,026.0 | 1,116.3 |
| Net income | 1,099.8 | 1,031.4 | 1,191.1 | 1,082.9 | 1,032.9 | 646.3 | 913.0 | 1,045.4 |
| EPS, diluted | 4.31 | 4.02 | 4.65 | 4.20 | 3.99 | 2.49 | 3.50 | 4.01 |
| = Free cash flow | 1,013.2 | 1,294.7 | 348.6 | 1,139.6 | 927.4 | 778.2 | 492.0 | 1,302.1 |
What this means. The cash figures are for each quarter, even though the definitions say “year,” because the report removes earlier year-to-date amounts to show only that quarter.
What should investors watch in Vertex's next results?
On November 2, 2026, Vertex is due to report the first quarterly results after Crinetics closed. Investors should separate growth from the existing business, acquired revenue and the cash consumed by integration and financing.