INCYTE CORP

For the period ended Mar 31, 2025. Filed Apr 29, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 29, 2025

INCY$120.30-1.3%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

(unaudited, in thousands, except per share amounts)

	Three Months EndedMarch 31,
	2025	2024
Revenues:
Product revenues, net	$922,274	$729,923
Product royalty revenues	130,624	125,966
Milestone and contract revenues	—	25,000
Total revenues	1,052,898	880,889
Costs, expenses and other:
Cost of product revenues (including definite-lived intangible amortization)	73,188	60,956
Research and development	437,279	429,260
Selling, general and administrative	325,691	300,256
Loss (gain) on change in fair value of acquisition-related contingent consideration	11,572	(456)
(Profit) and loss sharing under collaboration agreements	—	(1,025)
Total costs, expenses and other	847,730	788,991
Income from operations	205,168	91,898
Interest income	22,929	46,770
Interest expense	(660)	(430)
(Loss) gain on equity investments	(1,343)	99,947
Other, net	8,096	(2,026)
Income before provision for income taxes	234,190	236,159
Provision for income taxes	75,987	66,611
Net income	$158,203	$169,548
Net income per share:
Basic	$0.82	$0.76
Diluted	$0.80	$0.75
Shares used in computing net income per share:
Basic	193,712	224,484
Diluted	198,197	227,219

ContentsView on SEC.gov

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