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Sep 30
Vertex Q3 2025 Earnings Report
Vertex reported strong Q3 2025 results driven by robust CF franchise performance and contributions from new product launches.
Key Takeaways
Vertex delivered solid earnings in Q3 2025, with net income surpassing $1 billion and revenue growing 11% YoY. The company saw early momentum from JOURNAVX and CASGEVY while maintaining leadership in cystic fibrosis treatments.
Total revenue reached $3.08 billion, up from $2.77 billion in Q3 2024.
Net income grew to $1.08 billion on strong CF drug demand and launch contributions.
ALYFTREK and JOURNAVX contributed notable revenue in their early launch phases.
Full enrollment completed for the pivotal Phase 3 study of povetacicept in IgAN.
Vertex
Vertex
Vertex Revenue by Segment
Vertex Revenue by Geographic Location
Revenue by Segment
TRIKAFTA/KAFTRIO Revenue
CapyFin.comALYFTREK Revenue
CapyFin.comOther Products Revenue
CapyFin.comCASGEVY Revenue
CapyFin.comJOURNAVX Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Vertex refined its FY25 guidance, forecasting $11.9–$12.0B in revenue, citing continued CF franchise growth, new launches, and R&D progress.
Positive Outlook
- Total revenue guidance raised to $11.9–$12.0B.
- Strong growth expected in CF driven by ALYFTREK uptake.
- Ongoing CASGEVY launch contributing to topline.
- JOURNAVX gaining payer and hospital access.
- Povetacicept submission on track for late 2025.
Challenges Ahead
- Increased R&D and SG&A spending pressuring margins.
- Higher AIPR&D costs impacting expenses.
- Ongoing launch costs for JOURNAVX and CASGEVY.
- Pipeline progress may raise near-term investment.
- Macroeconomic and regulatory factors remain risks.