v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Revenues by Product
“Product revenues, net” consisted of the following:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(in millions)
TRIKAFTA/KAFTRIO
$2,497.2
$2,551.1
$4,851.9
$5,086.6
ALYFTREK
573.6
156.8
998.0
210.7
Other CF product revenues (1)
137.1
193.7
273.0
349.0
Total CF product revenues, net
3,207.9
2,901.6
6,122.9
5,646.3
CASGEVY
76.4
30.4
119.3
44.6
JOURNAVX
49.6
12.0
78.6
13.3
Total product revenues, net
$3,333.9
$2,944.0
$6,320.8
$5,704.2
(1) Include KALYDECO, ORKAMBI, and SYMDEKO/SYMKEVI.
Revenues by Geographic Location
“Product revenues, net” are allocated based on the location of the customer. “Other revenues” are allocated based on the
location of the Vertex entity associated with such revenues. Our “Total revenues” consisted of the following:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(in millions)
United States
$2,056.4
$1,848.2
$3,832.3
$3,511.7
Outside of the United States
Europe
977.7
910.9
1,927.7
1,737.5
Other
299.8
205.6
560.8
485.7
Total revenues outside of the United States
1,277.5
1,116.5
2,488.5
2,223.2
Total revenues
$3,333.9
$2,964.7
$6,320.8
$5,734.9
We did not have any “Other revenues” in the three and six months ended June 30, 2026. In the three and six months
ended June 30, 2025, our “Other revenues” of $20.7 million and $30.7 million, respectively, were attributed to the U.S.
Significant Segment Expenses
Significant segment expenses are set forth in the following table:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(in millions)
Total revenues
$3,333.9
$2,964.7
$6,320.8
$5,734.9
Costs and expenses:
Cost of sales - products
218.3
140.5
378.5
271.1
Cost of sales - royalty
270.9
267.0
503.5
499.4
Research expenses
207.3
209.3
412.3
415.4
Development expenses
786.5
769.1
1,543.1
1,542.7
Acquired in-process research and development expenses
21.4
2.2
21.9
22.0
Selling and other commercial expenses
388.1
264.6
701.7
505.7
General and administrative expenses
194.1
160.0
374.2
315.3
Intangible asset impairment charge
—
—
—
379.0
Interest income, net
(120.6)
(118.7)
(235.4)
(236.6)
Other segment items (1)
(23.9)
(12.3)
(23.7)
7.5
Provision for income taxes
292.0
250.1
513.5
334.2
Net income
$1,099.8
$1,032.9
$2,131.2
$1,679.2
(1)Other segment items included in “Net income” primarily include a realized gain related to an investment in a
privately held company in the three and six months ended June 30, 2026, changes in the fair value of equity
investments and changes in the fair value of contingent consideration.
Additional Segment Information
During the three and six months ended June 30, 2026 and 2025, we recorded total depreciation and amortization expense
of $56.5 million, $51.7 million, and $112.4 million and $100.1 million, respectively.