Q1 25 EPS
$4.06
MISS 5.44%
Est. $4.29
Q1 25 Revenue
$2.77B
MISS 3.17%
Est. $2.86B
vs S&P Since Q1 25
-35.1%
TRAILING MARKET
VRTX -3.9% vs S&P +31.3%
Market Reaction
Did VRTX Beat Earnings? Q1 2025 Results
Vertex Pharmaceuticals delivered a disappointing first quarter for 2025, missing on both top and bottom lines as revenue of $2.77 billion came in 3.17% below consensus and non-GAAP EPS of $4.06 fell 5.44% short of the $4.29 estimate, with year-over-y… Read more Vertex Pharmaceuticals delivered a disappointing first quarter for 2025, missing on both top and bottom lines as revenue of $2.77 billion came in 3.17% below consensus and non-GAAP EPS of $4.06 fell 5.44% short of the $4.29 estimate, with year-over-year revenue growth of just 3.1% reflecting a quarter shaped by offsetting forces. The single most disruptive factor was a $379 million intangible asset impairment charge tied to the discontinuation of its VX-264 cell-plus-device Type 1 diabetes program, which dragged GAAP operating income down to $630.10 million from $1.14 billion a year ago. International revenue also weighed on results, declining 5% to $1.11 billion as an intellectual property dispute in Russia reduced Trikafta sales, a headwind management characterized as limited and isolated. Against that backdrop, U.S. Revenue rose 9% to $1.66 billion, supported by the early launch of ALYFTREK and JOURNAVX. Vertex responded to the new-launch momentum by raising the low end of its full-year revenue guidance by $100 million, establishing a new range of $11.85 billion to $12.00 billion, though shares fell sharply as investors weighed the misses and narrower-than-expected access for JOURNAVX.
Key Takeaways
- • Continued strong patient demand for TRIKAFTA/KAFTRIO globally
- • Higher net realized pricing in the U.S.
- • Early ALYFTREK launch contribution of $53.9 million
- • CASGEVY contributed $14.2 million in Q1 2025
- • U.S. revenue growth of 9% to $1.66 billion
VRTX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
VRTX Revenue by Segment
With YoY comparisons, source: SEC Filings
VRTX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Vertex delivered a strong start to 2025 with notable execution across the business as we grow and diversify the revenue base, progress multiple launches and advance the R&D pipeline. We continued to expand our leadership in CF and build global momentum for CASGEVY, and we launched JOURNAVX in moderate-to-severe acute pain.”
— Reshma Kewalramani, Q1 2025 Earnings Press Release
VRTX Earnings Trends
VRTX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VRTX EPS Trend
Earnings per share: estimate vs actual
VRTX Revenue Trend
Quarterly revenue: estimate vs actual
VRTX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $4.31 | $4.47 | +3.81% | $2.99B | -0.36% |
| Q4 25 MISS FY | $5.15 | $5.03 | -2.30% | $3.19B | +0.48% |
| FY Full Year | — | $18.40 | — | $12.00B | — |
| Q3 25 BEAT | $4.58 | $4.80 | +4.87% | $3.08B | +0.56% |
| Q2 25 BEAT | $4.25 | $4.52 | +6.33% | $2.96B | +2.00% |
| Q1 25 MISS | $4.29 | $4.06 | -5.44% | $2.77B | -3.17% |