10-QPeriod: Q2 FY2026

BeOne Medicines Ltd. Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 5, 2026For Securities:ONCBEIGF

Summary

BeOne Medicines Ltd. reported a strong second quarter for 2026, with total revenues increasing by 29.6% year-over-year to $1.71 billion. This growth was primarily driven by a 29.0% increase in product revenue, largely attributed to robust global sales of BRUKINSA®, which saw a 31.4% year-over-year increase. The company also experienced significant growth in other revenue streams, up 91.1%, indicating positive momentum across its portfolio. Despite increased revenue, net income saw a substantial increase of 151.3% to $237 million, reflecting improved operating leverage and effective cost management, as demonstrated by the increase in gross margin to 89.6%. Research and development expenses increased by 16.6%, supporting pipeline advancement, while selling, general, and administrative expenses grew by 10.3%, primarily due to global commercial expansion. The company generated strong operating cash flow, a key indicator of financial health and sustainability.

Key Highlights

  • 1Total revenues reached $1.71 billion, a 29.6% increase year-over-year.
  • 2Product revenue increased by 29.0% to $1.68 billion.
  • 3BRUKINSA® sales grew by 31.4% year-over-year to $1.25 billion for the quarter.
  • 4Net income surged by 151.3% to $237.0 million.
  • 5Gross margin improved to 89.6% from 87.4% in the prior year period.
  • 6Research and development expenses increased 16.6% to $612.3 million, supporting pipeline advancement.
  • 7Cash, cash equivalents, and restricted cash stood at $5.28 billion as of June 30, 2026.

Frequently Asked Questions

BeOne Medicines Ltd.'s total revenues for the three months ended June 30, 2026, were $1.71 billion, representing a 29.6% increase compared to $1.32 billion in the same period of 2025.

The substantial increase in net income to $237.0 million was primarily driven by strong revenue growth, particularly from BRUKINSA®, and improved operating leverage, which led to a higher gross margin. Effective management of operating expenses also contributed to the net income improvement.

BRUKINSA® sales showed strong performance, reaching $1.25 billion for the three months ended June 30, 2026, a 31.4% increase compared to $950 million in the prior-year period. This growth was attributed to robust demand in the U.S. and Europe, and continued market share gains.

As of June 30, 2026, BeOne Medicines Ltd. had $5.28 billion in cash, cash equivalents, and restricted cash, indicating a strong liquidity position.