VRTX
Vertex Pharmaceuticals
Q3 2024 Report
Vertex Pharmaceuticals Q3 2024 Results: Strong Performance and New Opportunities...
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Executive Summary
Vertex Pharmaceuticals delivered impressive financial results for Q4 2024, with total revenue reaching $2.91 billion, an increase of 16% compared to Q4 2023, and a record full-year revenue of $11.02 billion, up 12% from the previous year. This year's growth was primarily fueled by a robust performance in the cystic fibrosis (CF) sector, aided by the successful launch of the new medication ALYFTREK. Additionally, the newly approved JOURNAVX offers Vertex a solid entry into the non-opioid pain management market, potentially enhancing patient accessibility and addressing the opioid crisis. Management views this as a pivotal year for diversifying revenue streams and expanding patient reach.
Key Performance Indicators
Revenue
2.91B
QoQ: 5.05% | YoY:15.66%
Gross Profit
2.49B
85.46% margin
QoQ: 4.59% | YoY:15.76%
Operating Income
1.03B
QoQ: -8.09% | YoY:7.01%
Net Income
913.00M
QoQ: -12.67% | YoY:-5.76%
EPS
3.55
QoQ: -12.35% | YoY:-5.59%
Revenue Trend
Margin Analysis
Key Insights
**Revenue:** $2.91 billion (up 16% YoY) **Cost of Revenue:** $423.4 million **Gross Profit:** $2.49 billion (Gross Profit Margin: 85.5%) **Operating Income:** $1.03 billion (Operating Income Margin: 35.2%) **Net Income:** $913 million (Net Income Margin: 31.4%) **EPS:** $3.55 (Diluted EPS: $3.50) **Cash at Year-End:** $4.57 billion The notable increase in revenue was backed by a 17% growth in U.S. sales, attributed to strong market demand and a price increase implemented in January 2024. Managem...