Summary
Gilead Sciences, Inc. reported a net income of $1.3 billion for the first quarter of 2025, a significant recovery from the $4.2 billion net loss in the prior year's quarter. This turnaround was largely driven by the absence of a substantial $3.9 billion acquired in-process R&D expense related to the CymaBay acquisition and a $2.4 billion IPR&D impairment charge recorded in Q1 2024, both of which did not recur. Total revenues remained stable at $6.7 billion, with a slight decrease of 1% in product sales, which was mitigated by an increase in royalty, contract, and other revenues. Key drivers of revenue performance included a 6% increase in HIV product sales, primarily from Biktarvy, and a 3% rise in Liver Disease products, boosted by the launch of Livdelzi. Conversely, Veklury sales saw a sharp decline of 45% due to lower COVID-19 related hospitalizations. Oncology sales experienced a slight decrease. The company continues to focus on its strategic priorities, including investing in its R&D pipeline and business development, while demonstrating a strong liquidity position with $7.9 billion in cash and cash equivalents as of March 31, 2025.
Financial Highlights
54 data points| Revenue | $6.67B |
| Cost of Revenue | $1.54B |
| Gross Profit | $5.13B |
| SG&A Expenses | $1.26B |
| Operating Expenses | $4.43B |
| Operating Income | $2.24B |
| Net Income | $1.31B |
| EPS (Basic) | $1.06 |
| EPS (Diluted) | $1.04 |
| Shares Outstanding (Basic) | 1.25B |
| Shares Outstanding (Diluted) | 1.26B |
Key Highlights
- 1Gilead reported a net income of $1.3 billion in Q1 2025, a substantial improvement from a net loss of $4.2 billion in Q1 2024, primarily due to the absence of large one-time expenses from the prior year.
- 2Total revenues remained relatively flat at $6.7 billion, with product sales showing a slight decrease of 1% but offset by higher royalty and contract revenues.
- 3HIV product sales increased by 6% to $4.6 billion, driven by strong performance in Biktarvy, while Liver Disease product sales grew 3% supported by the Livdelzi launch.
- 4Veklury sales declined significantly by 45% to $302 million, reflecting decreased COVID-19 related hospitalizations.
- 5Operating cash flow for the quarter was $1.8 billion, a decrease from the prior year, impacted by higher tax payments and inventory purchases.
- 6The company maintained a strong liquidity position with $7.9 billion in cash and cash equivalents as of March 31, 2025.
- 7Gilead is actively managing its debt, with $3.4 billion in net cash used for financing activities in Q1 2025, including significant debt repayments, dividend payments, and share repurchases.