GILD · Full Picture

GILEAD SCIENCES, INC. — the full picture

Earnings window · 2026-07-16 to 2026-08-09 · 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 84
    -120.9% operating_income; 2 sources (press_release, sec_filing); 4 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. In-Process R&D Impairment · UnclassifiedPriority 78
    -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.
  3. Operating Expense Trends · Operating expenses (SG&A)Priority 76
    -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
  4. Financing Activities · Debt, leverage & refinancingPriority 73
    -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
  5. Product Sales Performance · UnclassifiedPriority 63
    +15.1% revenue (realized); quote_verified
    Descovy sales in Q2 2026: $967 million, increased 48% compared to the same period in 2025
  6. Acquisition-Related R&D Charges · M&A and divestituresPriority 62
    quote_verified
    Gilead reported a net loss of $10.5 billion in Q2 2026 primarily due to acquired IPR&D and other charges.
  7. Operating Margin Drivers · Operating income & profitabilityPriority 62
    quote_verified
    GAAP operating (loss) income for Q2 2026: $(10,394) million compared to $2,474 million in Q2 2025
  8. Research and Development Expense · R&D investmentPriority 61
    quote_verified
    Research and development expenses for the six months ended June 30, 2026: $3,136 million.
  9. Capital Return Program · Buybacks & dividendsPriority 60
    2 sources (news, press_release); 1 forward row(s); quote_verified
    Under its buyback plan, Gilead has repurchased a total of 51,569,874 shares for a total of $4,926.75 million to date.
  10. Geographic Market Commentary · Geographic mixPriority 59
    2 sources (press_release, sec_filing); quote_verified
    Total product sales by geography U.S. in Q2 2026: $5,601 million, Europe: $1,155 million, Rest of World: $872 million
  11. Gross Margin Drivers · Gross marginPriority 57
    2 sources (press_release, sec_filing); quote_verified
    Cost of goods sold for the six months ended June 30, 2026: $3,023 million.
  12. Guidance / Outlook · Guidance & outlookPriority 56
    +1.0% revenue; 2 sources (news, press_release); 4 forward row(s); quote_verified
    Full year 2026 product sales guidance updated on August 4, 2026 to low end $30,100 million and high end $30,400 million (previously $30,000 to $30,400)

Threads by pillar

Revenue & Demand Priority 81 · 7 threads

Costs & Margins Priority 87 · 4 threads

Capital & Balance Sheet Priority 87 · 7 threads

Strategy & Portfolio Priority 86 · 3 threads

Legal, Regulatory & Policy Priority 56 · 2 threads

Guidance & Outlook Priority 56 · 1 thread

Macro & Market Conditions Priority 53 · 1 thread

Unclassified Priority 82 · 4 threads

Expected impact by metric

metricforward netforward grossrealized
operating_income-120.9%+120.9%-177.1%
net_income-120.9%+120.9%-164.7%
revenue+1.0%+4.8%+13.2%
cash——-29.4%
assets——-1.4%
liability——-8.3%