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Mar 31, 2025
Gilead Sciences Q1 2025 Earnings Report
Gilead Sciences posted steady results in Q1 2025 with growth in HIV and liver disease product sales offsetting declines in oncology and Veklury.
Key Takeaways
Gilead delivered flat total revenue in Q1 2025 with strong performance in HIV therapies, notably Biktarvy, and disciplined cost control contributing to a rebound in profitability after last year’s loss.
Total revenue was $6.67 billion, essentially flat year-over-year.
Net income turned positive at $1.32 billion, compared to a loss of $4.17 billion in Q1 2024.
Biktarvy sales rose 7% to $3.15 billion, driving HIV portfolio growth.
Veklury sales dropped 45% due to lower COVID-19 hospitalizations.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Gilead reaffirmed full-year revenue guidance with expected stability in core product sales and consistent performance in HIV therapies.
Positive Outlook
- Product sales guidance unchanged at $28.2–$28.6 billion.
- Non-GAAP EPS outlook remains $7.70–$8.10.
- Continued strength expected from Biktarvy and Liver Disease portfolio.
- Positive Phase 3 Trodelvy + Keytruda results in breast cancer.
- FDA PDUFA date in June for lenacapavir HIV prevention indication.
Challenges Ahead
- Flat total revenue growth expected due to declining Veklury sales.
- Oncology segment performance remains under pressure.
- U.S. Tecartus demand softened significantly.
- Lower HCV product pricing affects Liver Disease revenue mix.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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