VRTX · Earnings call · 2026Q3T · Full report

Guidance / Outlook

VERTEX PHARMACEUTICALS INC / MA · 2026-11-02 · Importance 53 · Surprise 68 · From source text

Vertex raised its 2026 revenue guidance from $13.1 billion–$13.2 billion to $13.15 billion–$13.25 billion, reflecting an expected $40 million–$50 million contribution from Crinetics. The outlook continues to include more than $500 million of CASGEVY and JOURNAVX revenue, four months of Palsonify contribution, and an approximately 150-basis-point full-year foreign-exchange benefit. Full-year gross margin is expected to be slightly below 86%, while combined non-GAAP operating expenses are now estimated at approximately $6 billion, including about $250 million of Crinetics operating and integration-related costs. Vertex expects a full-year non-GAAP effective tax rate of 19.5%–20.5%.

Key facts

• Vertex raised its 2026 total revenue guidance from $13.1-$13.2 billion to $13.15-$13.25 billion.
• Vertex revised combined 2026 non-GAAP operating expense guidance from $5.65-$5.75 billion to approximately $6 billion.
• The increase in 2026 operating expense guidance includes approximately $250 million of Crinetics operating expenses and integration-related costs; standalone Vertex remains at the high end of its prior range.
• Vertex's 2026 revenue guidance is more than $13 billion, representing more than triple the company's $4 billion revenue in 2019.
• Vertex expects full-year 2026 non-operating costs of $105 million related to Crinetics financing.
• Vertex projects 2026 interest income to be approximately $60 million lower because of reduced cash balances after the acquisition.
• Vertex expects more than $500 million in 2026 revenue from CASGEVY and JOURNAVX, plus an additional contribution from four months of Palsonify.
• Crinetics is expected to contribute $40-$50 million to Vertex's full-year 2026 revenue.

Impact estimates