GILD · Full Picture

GILEAD SCIENCES, INC. — the full picture

Earnings window · 2026-07-16 to 2026-09-24 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

1. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 80
   -120.9% operating_income; 3 sources (news, press_release, sec_filing); 5 forward row(s); structured_verified
   Acquired IPR&D expenses in Q2 2026: $11,183 million, primarily related to $7.0 billion for Arcellx, $3.1 billion for Tubulis and $1.0 billion for Ouro Medicines, net of the impact of the Lakefront collaboration
2. Revenue Performance and Mix · Revenue growth & mixPriority 76
   +9.0% net_income (realized); 3 sources (news, press_release, sec_filing); 2 forward row(s); structured_verified
   Zacks published an expected EPS of -$7.09 and revenue of $7.37 billion for Gilead in an earnings preview.
3. Acquisition-Related R&D Charges · M&A and divestituresPriority 71
   -147.4% operating_income (realized); quote_verified
   Gilead reported a net loss of $10.5 billion in Q2 2026 primarily due to acquired IPR&D and other charges.
4. Research Investment and Capacity · UnclassifiedPriority 71
   +55.1% assets; 2 forward row(s); quote_verified
   The Foster City Research Center is part of Gilead's $32 billion U.S. investment in research, development, and manufacturing through 2030.
5. In-Process R&D Impairment · UnclassifiedPriority 70
   -22.4% operating_income (realized); structured_verified
   In-process research and development impairment charge of $1.75 billion recognized in the three months ended June 30, 2026 related to the NSCLC IPR&D intangible asset following discontinuation of the Phase 3 EVOKE-03 study.
6. Operating Expense Trends · Operating expenses (SG&A)Priority 69
   -12.4% operating_income (realized); 2 sources (press_release, sec_filing); quote_verified
   Intangible assets, net decreased from $16,978 million as of December 31, 2025 to $14,032 million as of June 30, 2026
7. Financing Activities · Debt, leverage & refinancingPriority 66
   -21.0% cash (realized); quote_verified
   Gilead issued $3.0 billion aggregate principal amount of senior unsecured notes and borrowed $1.1 billion aggregate principal amount under a one-year term loan facility
8. Quarterly Dividend Declaration · Buybacks & dividendsPriority 64
   2 sources (news, sec_filing); 2 forward row(s); quote_verified
   Gilead Sciences' individual dividend payout reaches $1.02 billion or 82 cents per share, with shareholders required to hold stock before the September 15th ex-date to qualify and payouts to be paid out around September 29th.
9. Competition and Market Share Pressure · Competition & market sharePriority 60
   3 sources (news, press_release, sec_filing); quote_verified
   Gilead Sciences has an upcoming CAR T therapy named anito-cel.
10. Livdelzi Demand Growth · Demand, orders & backlogPriority 57
    1 forward row(s); quote_verified
    Gilead's PrEP sales doubled to $1 billion in Q2 2026 (PrEP business hits billion-dollar sales).
11. Product Sales Performance · UnclassifiedPriority 56
    +15.1% revenue (realized); quote_verified
    Descovy sales in Q2 2026: $967 million, increased 48% compared to the same period in 2025
12. Strategic Initiatives · Strategic & business-model shiftsPriority 56
    quote_verified
    Gilead launched the "Up to Date" HIV prevention campaign targeting the Black community, featuring comedians Nicole Byer and Devon Walker.

Threads by pillar

Revenue & Demand Priority 88 · 7 threads

• Revenue Performance and MixPriority 76 · News, Release, Filing
• Livdelzi Demand GrowthPriority 57 · News
• Market Demand TrendsPriority 47 · Release, Filing
• Product / Drug Pipeline ProgressPriority 47 · News, Release, Filing
• Product Launch and TransitionPriority 41 · News, Filing
• Geographic Market CommentaryPriority 52 · Release, Filing
• Distribution ChannelsPriority 30 · News

Costs & Margins Priority 81 · 4 threads

• Operating Expense TrendsPriority 69 · Release, Filing
• Operating Margin DriversPriority 55 · Release
• Research and Development ExpensePriority 54 · Filing
• Gross Margin DriversPriority 50 · Release, Filing

Capital & Balance Sheet Priority 83 · 7 threads

• Financing ActivitiesPriority 66 · Release
• Outstanding IndebtednessPriority 45 · Release
• Quarterly Dividend DeclarationPriority 64 · News, Filing
• Capital Return ProgramPriority 52 · News, Release
• Liquidity and Cash PositionPriority 42 · Release, Filing
• Free Cash Flow and LiquidityPriority 39 · News
• Income Tax Rate ChangesPriority 37 · Release, Filing

Strategy & Portfolio Priority 85 · 6 threads

• Acquisition / Partnership / DivestiturePriority 80 · News, Release, Filing
• Acquisition-Related R&D ChargesPriority 71 · News
• Strategic InitiativesPriority 56 · News
• Licensing / Collaboration DealsPriority 39 · News
• Oncology Product ExpansionPriority 35 · News, Release
• HIV Prevention Access ExpansionPriority 33 · News

Legal, Regulatory & Policy Priority 57 · 4 threads

• Regulatory Approval MilestonesPriority 49 · News, Release, Filing
• HIV PrEP Regulatory ExpansionPriority 36 · News
• HIV Prevention Access PressurePriority 33 · News
• Litigation and Legal RiskPriority 46 · News

Guidance & Outlook Priority 54 · 1 thread

• Guidance / OutlookPriority 54 · News, Release

Macro & Market Conditions Priority 60 · 1 thread

• Competition and Market Share PressurePriority 60 · News, Release, Filing

Shareholders & Street Priority 29 · 1 thread

• Institutional Ownership ChangesPriority 29 · News

Unclassified Priority 84 · 5 threads

• Research Investment and CapacityPriority 71 · News
• In-Process R&D ImpairmentPriority 70 · Filing
• Product Sales PerformancePriority 56 · Release
• Veklury Sales DeclinePriority 35 · News
• Revenue Performance and DividendPriority 34 · News

Expected impact by metric