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Dec 31, 2025
Gilead Sciences Q4 2025 Earnings Report
Reported higher revenues and earnings driven by HIV and Liver Disease growth, partially offset by lower Veklury sales.
Key Takeaways
Gilead Sciences delivered solid Q4 2025 results with revenue growth and higher net income, supported by strong HIV and Liver Disease product demand despite a significant decline in Veklury sales.
Total revenue increased year over year driven by HIV portfolio growth
Net income rose significantly due to tax benefits and higher product sales
Veklury sales declined sharply amid lower COVID-19 hospitalizations
Operating expenses were controlled, with lower SG&A year over year
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For full-year 2026, Gilead expects stable product sales growth and solid earnings performance.
Positive Outlook
- Product sales expected to grow year over year
- Strong outlook for HIV and oncology portfolios
- Non-GAAP EPS guidance implies earnings growth
- Stable gross margins expected
- Continued cash generation
Challenges Ahead
- Veklury revenue expected to remain low
- Exposure to pricing and reimbursement pressures
- Regulatory and policy uncertainty
- Competitive pressures in oncology
- Macroeconomic and FX risks
Historical Earnings Impact
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Avg. Return Before/After Earnings
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