Vylor earnings: guidance and what to watch
Vylor’s next results are expected on November 11, 2026. Watch progress toward year-end collections.
What has Vylor guided for 2026?
For 2026, management guides to $10,400 million of sales and $2,800 million of operating EBITDA. R&D is targeted at 10.0% of sales in 2026–2027. By 2029, the sales target is $11.2–$11.9 billion. The operating EBITDA target is $3.3–$3.7 billion. Vylor expects $5.5–$6.5 billion of cumulative free cash flow from 2027–2029.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| NET SALES | Year to Dec 2026 | 10,400 | 10,400 | Sep 15, 2026 |
| Product sales | Year to Dec 2026 | 10,000 | 10,000 | Sep 15, 2026 |
| Licensing income | Year to Dec 2026 | 400 | 400 | Sep 15, 2026 |
| OPERATING EBITDA | Year to Dec 2026 | 2,800 | 2,800 | Sep 15, 2026 |
What this means. The $500 million gross licensing income figure is a minimum the company expects to exceed, not an exact forecast, so the missing high value does not mean there is no upper limit.
How have Vylor’s revenue and profit changed?
Net income moved in the opposite direction, falling from $1,155 million to $1,022 million. The quarter included $78 million of separation expense, of which $64 million was after tax. Tax adjustments also supported earnings by $35 million, against $4 million a year earlier. Operations therefore improved more than the reported bottom line suggests, but the quarter still does not show broad demand acceleration.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,532 | 3,023 | 1,737 | 917 | 4,537 | 2,707 | 1,772 | 691 |
| Gross margin | 63.2% | 54.4% | 43.8% | 37.0% | 61.1% | 49.6% | 35.5% | 23.2% |
| Operating income | 1,788 | 869 | 1,712 | 652 | ||||
| Net income | 1,022 | 502 | 1,155 | 397 |
What this means. The company can report a profit while having negative free cash flow because profit is an accounting measure, while free cash flow shows the cash actually left after daily operations and equipment spending.
What should Vylor watch in the next results?
The November 11 results and November 12 webcast should clarify the standalone accounts, remaining separation costs and progress toward year-end collections. December brings a further test: whether workforce restructuring is substantially complete and whether recurring savings appear alongside declining implementation bills.