BeOne Medicines Ltd.
For the period ended Nov 5, 2026. Filed Nov 5, 2026.
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Nov 5, 2026 · Filed Nov 5, 2026
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Contents
EX-99.1 · Forward-Looking Statements
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding: BeOne’s continued rapid global growth and leadership in hematology; future catalysts for BeOne’s business; BeOne’s full year 2026 guidance; BeOne’s expectations regarding certain valuation allowances; BeOne’s expectations regarding continued global expansion and investment to support growth; upcoming R&D milestones to be achieved by BeOne; the timing of clinical and regulatory developments and data readouts; and BeOne’s plans, commitments, aspirations and goals under the caption “About BeOne.” Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeOne’s ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; BeOne’s ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeOne’s ability to obtain and maintain protection of intellectual property for its medicines and technology; BeOne’s reliance on third parties to conduct drug development, manufacturing, commercialization, and other services; BeOne’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products; BeOne’s ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and those risks more fully discussed in the section entitled “Risk Factors” in BeOne’s most recent periodic report filed with the U.S. Securities and Exchange Commission (“SEC”), as well as discussions of potential risks, uncertainties, and other important factors in BeOne’s subsequent filings with the SEC. All information in this press release is as of the date of this press release, and BeOne undertakes no duty to update such information unless required by law. BeOne’s financial guidance is based on estimates and assumptions that are subject to significant uncertainties.
| Investor Contact | Media Contact |
|---|---|
| Liza Heapes | Meredith Ferguson |
| +1 857-302-5663 | +1 216-338-3797 |
| ir@beonemed.com | media@beonemed.com |
Condensed Consolidated Statements of Operations (U.S. GAAP)
(Amounts in thousands of U.S. dollars, except for shares, American Depositary Shares (ADSs), per share and per ADS data)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (Unaudited) · (Unaudited) | ||||
| Revenues | ||||
| Product revenue, net | $1,855,057 | $1,395,013 | $5,022,180 | $3,805,619 |
| Other revenue | 34,758 | 17,271 | 86,144 | 39,244 |
| Total revenues | 1,889,815 | 1,412,284 | 5,108,324 | 3,844,863 |
| Cost of sales - products | 216,896 | 196,510 | 558,641 | 526,118 |
| Gross profit | 1,672,919 | 1,215,774 | 4,549,683 | 3,318,745 |
| Operating expenses: | ||||
| Research and development | 660,784 | 523,662 | 1,814,288 | 1,530,445 |
| Selling, general and administrative | 593,460 | 528,998 | 1,741,771 | 1,526,199 |
| Total operating expenses | 1,254,244 | 1,052,660 | 3,556,059 | 3,056,644 |
| Income from operations | 418,675 | 163,114 | 993,624 | 262,101 |
| Interest income | 33,663 | 19,393 | 89,227 | 43,735 |
| Interest expense | (42,407) | (16,364) | (115,033) | (31,361) |
| Other income (expense), net | 429 | (18,979) | 14,216 | (6,862) |
| Income before income taxes | 410,360 | 147,164 | 982,034 | 267,613 |
| Income tax expense | 25,654 | 22,323 | 132,964 | 47,182 |
| Net income | $384,706 | $124,841 | $849,070 | $220,431 |
| Earnings per share | ||||
| Basic | $0.26 | $0.09 | $0.58 | $0.16 |
| Diluted | $0.25 | $0.08 | $0.56 | $0.15 |
| Weighted-average shares outstanding—basic | 1,478,074,394 | 1,432,801,699 | 1,457,134,424 | 1,410,497,062 |
| Weighted-average shares outstanding—diluted | 1,524,954,790 | 1,488,750,354 | 1,511,972,953 | 1,465,535,004 |
| Earnings per American Depositary Share (“ADS”) | ||||
| Basic | $3.38 | $1.13 | $7.58 | $2.03 |
| Diluted | $3.28 | $1.09 | $7.30 | $1.96 |
| Weighted-average ADSs outstanding—basic | 113,698,030 | 110,215,515 | 112,087,263 | 108,499,774 |
| Weighted-average ADSs outstanding—diluted | 117,304,215 | 114,519,258 | 116,305,612 | 112,733,462 |
Select Condensed Consolidated Balance Sheet Data (U.S. GAAP)
(Amounts in thousands of U.S. Dollars)
| As of | ||
|---|---|---|
| September 30, | December 31, | |
| 2026 | 2025 | |
| (unaudited) | (audited) | |
| Assets: | ||
| Cash, cash equivalents and restricted cash | $5,866,314 | $4,609,647 |
| Accounts receivable, net | 1,092,535 | 865,080 |
| Inventories | 807,922 | 608,227 |
| Property, plant and equipment, net | 1,647,231 | 1,641,678 |
| Total assets | $9,875,925 | $8,188,573 |
| Liabilities and equity: | ||
| Accounts payable | $496,879 | $479,035 |
| Accrued expenses and other payables | 1,342,646 | 1,109,120 |
| R&D cost share liability | — | 64,345 |
| Sale of future royalty liability | 912,581 | 906,956 |
| Debt | 1,074,081 | 1,019,206 |
| Total liabilities | 4,055,531 | 3,827,379 |
| Total equity | $5,820,394 | $4,361,194 |
Select Condensed Consolidated Statements of Cash Flows (U.S. GAAP)
(Amounts in thousands of U.S. Dollars)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (unaudited) · (unaudited) | ||||
| Cash, cash equivalents and restricted cash at beginning of period | $5,280,674 | $2,786,086 | $4,609,647 | $2,638,747 |
| Net cash provided by operating activities | 508,707 | 402,553 | 1,172,863 | 710,233 |
| Net cash used in investing activities | (35,760) | (49,274) | (130,623) | (237,820) |
| Net cash provided by financing activities | 102,194 | 961,272 | 164,772 | 962,520 |
| Net effect of foreign exchange rate changes | 10,499 | 9,905 | 49,655 | 36,862 |
| Net increase in cash, cash equivalents, and restricted cash | 585,640 | 1,324,456 | 1,256,667 | 1,471,795 |
| Cash, cash equivalents and restricted cash at end of period | $5,866,314 | $4,110,542 | $5,866,314 | $4,110,542 |
Note Regarding Use of Non-GAAP Financial Measures
BeOne provides certain non-GAAP financial measures, including Adjusted Cost of Sales- Product, Adjusted Operating Expenses, Adjusted Income from Operations, Adjusted Income Tax Expense, Adjusted Net Income, Adjusted Earnings Per Share, Free Cash Flow and certain other non-GAAP income statement line items, each of which include adjustments to GAAP figures. These non-GAAP financial measures are intended to provide additional information on BeOne’s operating performance. Adjustments to BeOne’s GAAP figures exclude, as applicable, non-cash items such as share-based compensation, depreciation and amortization. Certain other special items or substantive events may also be included in the non-GAAP adjustments periodically when their magnitude is significant within the periods incurred. Non-GAAP adjustments are tax effected to the extent there is U.S. GAAP current tax expense. The Company currently records a valuation allowance on its net deferred tax assets, so there is no net impact recorded for deferred tax effects. BeOne maintains an established non-GAAP policy that guides the determination of what costs will be excluded in non-GAAP financial measures and the related protocols, controls and approval with respect to the use of such measures. BeOne believes that these non-GAAP financial measures, when considered together with the GAAP figures, can enhance an overall understanding of BeOne’s operating performance. The non-GAAP financial measures are included with the intent of providing investors with a more complete understanding of BeOne’s historical and expected financial results and trends and to facilitate comparisons between periods and with respect to projected information. In addition, these non-GAAP financial measures are among the indicators BeOne’s management uses for planning and forecasting purposes and measuring BeOne’s performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The non-GAAP financial measures used by BeOne may be calculated differently from, and therefore may not be comparable to, non-GAAP financial measures used by other companies.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.