8-KEarnings & ResultsExhibits & Filings

GILEAD SCIENCES, INC. 8-K Report, Financial Results (Feb 2, 2023)

Filed February 2, 2023For Securities:GILD

Summary

Gilead Sciences, Inc. (GILD) has filed a Current Report (8-K) on February 2, 2023, to announce its financial results for the fourth quarter and full year ended December 31, 2022. The filing includes a press release detailing these results, which were presented on both a GAAP and non-GAAP basis. Management believes the non-GAAP information provides useful insights for investors, aiding in the understanding of the company's operational performance and financial planning. Investors should refer to the press release (Exhibit 99.1) for a comprehensive overview of Gilead's financial performance, including a reconciliation of non-GAAP measures to GAAP. The company emphasizes that non-GAAP financial information should be used to supplement, not replace, the understanding of GAAP-reported results and that definitions may vary among industry peers.

Key Highlights

  • 1Gilead Sciences announced its Q4 and full-year 2022 financial results via an 8-K filing on February 2, 2023.
  • 2The financial results were presented using both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP measures.
  • 3Management considers non-GAAP financial information valuable for investors, aiding in operational and financial planning insights.
  • 4A detailed reconciliation between GAAP and non-GAAP financial information is available in the press release.
  • 5The press release, issued on February 2, 2023, serves as Exhibit 99.1 to the 8-K filing.
  • 6The information provided in this filing, particularly regarding financial results, is not considered 'filed' for Section 18 purposes of the Exchange Act.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Gilead Sciences' financial results for the fourth quarter and the full fiscal year ended December 31, 2022, as detailed in a press release included as an exhibit.

The detailed financial results, including GAAP and non-GAAP figures, are available in the press release issued by Gilead Sciences on February 2, 2023, which is filed as Exhibit 99.1 to this 8-K report.

Gilead's management believes that non-GAAP financial information offers useful insights for investors, as it is used internally for operating, budgeting, and financial planning. However, investors are advised to use this non-GAAP information to supplement their understanding of the GAAP-reported results.

The press release (Exhibit 99.1) provides a reconciliation between Gilead's non-GAAP financial information and its GAAP financial statements. Investors should consult pages 12, 13, and 14 of the press release for this reconciliation. It is also noted that non-GAAP measures may be defined and calculated differently by other companies in the same industry.